Ann: Response to ASX Price Query, page-14

Here is the issue

"3. If the answer to question 1 is “no”, is there any other explanation that SUM may have for therecent trading in its securities?

Response:In an ASX announcement dated May 9 titled “Multispectral Analysis Identifies NiobiumTargets at Equador” the Company announced that field exploration at its Equador Niobium and REE project had identified 30 niobium targets.
The Company confirms that samples have been sent to the laboratories on the 16th of May 2024.
The Company notes that recently there has been increased trading across the ASX amongst the limited pool of Companies with niobium exposure.
The Company also notes that a post on X (Twitter) occurred today advising that assay results were imminent."

Or in plain language - Assays from samples of 30 Nb targets will be with us shortly.

They will be the first confirmation of the Vendor's statements - should derisk the early stage venture quite a bit.