Ann: Positive Metallurgical Results For P66 and Ancuabe, page-2

POSITIVE METALLURGICAL RESULTS FOR P66 (NICANDA HILL) AND ANCUABE



HIGHLIGHTS

• Initial metallurgical test work on the P66 zone from Nicanda Hill material confirms, the substantial presence of large graphite particle sizes

• P66 flotation tests confirm 53% of the discrete mass graphite particles in the samples were larger than 150µm (+100 mesh)

• P66 graphite is readily liberated by crushing, grinding, rougher and cleaner flotation, with no additional regrind required
• P66 concentrate grade of 96.1%TGC achieved at a recovery of 97.4%

• Ancuabe concentrate production proceeds with outstanding results that confirm initial laboratory test work results
• Average grade of 98.2% TGC obtained from Ancuabe bulk sample at 97% recovery
• Further tests to optimize the graphite flake recovery process are continuing.

--------

Please DYOR