Ann: Quarterly Activities Report - March 2024, page-2

Interesting report... so much hype about the nickel project and great to see them extand their position on that region.

It seems tehre is JV with a producer coming up for Stavely project... while the SVY focus in finding a nickel deposit in WA?

"The Cayley Lode, located in the Company’s 100%-owned Stavely Project in western Victoria, has a
Mineral Resource of 9.3Mt at 1.23% copper and 0.23g/t gold. While high-quality with 62% of the
Mineral Resource estimate classified as higher confidence Indicated Resources, the reality is that the
deposit, as currently defined, is too small to support a stand-alone development. There are two key
opportunities for value discovery to be reflected in the SVY share price for this asset. The Company
believes that there is an opportunity to evaluate the development of a small-footprint underground
mining operation and the transport of high-grade ore to an existing (fully permitted) processing
facility. We have been actively pursuing engagement with prospective operators to enter into
viability studies and this avenue will continue to be pursued. A large body of technical studies have
already been completed including underground mining stope optimisations and metallurgical test
work indicating very good recoveries with standard processing methodology producing a saleable
concentrate low in deleterious elements. Being able to identify a viable pathway to production
would be an important value realising catalyst.