Ann: Quarterly Activities Report, page-2

Below, in colour is the Company's description of Sandy Mitchel from the Q Report. - and then the stated next steps -

I put it up for readers of S****head who will have followed today's report on AHK and RDM

Because of the simplicity of mining and on site gravity processing and reclamation of mined land as mining proceeds I fully expect we will have a project defined, costed, funded, and permitted at breakneck speed. Much News by Christmas IMO

The best news Australia could receive is that a Qld Government supported REE refining plant is to be built somewhere on the Mt Isa - Townsville axis to process the easy REEs in N Qld. ie from the AHK, Red Metal and DEV projects.

Sandy Mitchell Rare Earth and heavy Mineral Project
• Ark owns 100% of the 147km2 EPM 28013 ‘Sandy Mitchell’ – an advanced Rare Earths Project inNorth Queensland with additional 138km2 of sub blocks under application

• Maiden Indicated Mineral Resource Estimate (MRE) of 21.7Mt @ 1,419ppm Monazite Equivalentcalculated using a 700ppm MzEq lower cut-off grade reported.Refer to AHK ASX Announcement 29 May 2024

• Exploration Target estimated for Sandy Mitchell: 1.3 billion tonnes to 1.5 billion tonnes @ 1250to 1490 ppm monazite equivalent.
The potential quantity and grade of the Exploration Target is conceptual in nature; there has beeninsufficient exploration to estimate a Mineral Resource and it is uncertain if further explorationwill result in estimation of a Mineral Resource.
Monazite equivalent calculationMz EQ = monazite + xenotime + 0.3217 x zircon + 0.2957 x rutile + 0.0217 x ilmenite(Detailed in the Appendices Table 1)Refer to AHK ASX Announcement 2 July 2024

• Project contains all critical Light Rare Earths as well as Heavy Rare Earths including dysprosium(Dy), terbium (Tb), holmium (Ho), erbium (Er), thulium (Tm) ytterbium (Yb), yttrium (Y) andexcluding only Lutetium
• Up to 25% of the TREO is Nd and Pr (magnet metals)
• Rare Earths at ‘Sandy Mitchell’ are amenable to panning a concentrate; Planned low-cost, faststart up, straightforward beneficiation by gravity processing


SANDY MITCHELL – Next Steps
• Updated 2nd phase Resource Estimate for Sandy Mitchell
• Scoping Study
• Advanced Metallurgical and Processing optimisation test work
• Further Drilling
• PFS
• Continued Environmental studies
• Pegging M