HIGHLIGHTS New Mineral Resource estimate by Runge increases the...

HIGHLIGHTS
New Mineral Resource estimate by Runge increases the vanadium Resource by about 400% to
3.16 billion tonnes at 0.30% V2O5 and confirms Speewah as Australias largest vanadium
deposit.
Pit optimisations and a reserve estimate on the Mineral Resource at Central are planned once all
metallurgical studies are completed. The flat dipping deposit geometry and very high vanadium
tenor, significantly enhance the opportunity for a commercially viable vanadium project.
Work currently underway includes metallurgical and feasibility studies for a potential open pit
and downstream processing of the vanadium into vanadium pentoxide and ferrovanadium.