Ann.SILVER

Moreton Resources Limited (ASX:MRV) (“the Company” would like to update the market on its progress
at the Granite Belt Project, under the management of its fully owned subsidiary MRV Metals Pty Ltd.
As outlined to the market recently, the Company has been progressing with the commercialisation of
Silver Concentrate sales and as of this week has commenced the dispatching of commercial quantities
of silver to its processing partner Siltech in Melbourne, Victoria. The Company will now move into the
scheduling of weekly Silver Concentrate dispatches to its processing partner and hence expects to
receive weekly revenue from the sale of silver concentrate, from next week forward.
In regard to quantities and revenues derived from this process, the Company will in due course advise
the market in conjunction with our quarterly reporting obligations at the end of April 2019. However the
company is also pleased to update the market, that silver recoveries for the initial cell, however we do
highlight we are pleased with the current performance of the leaching process.
Whilst the current silver leaching process continues to build concentrate grades, we are currently ahead
of our production leaching curve forecasts for both Cells 1 and 2, upon heap leach 4 containing approx.
60,000t of ore. Accordingly the Texas operations will bring 2 more cells under irrigation this coming week
containing approx. a further 100,000t of ore and that will allow for a significant uplift in Silver Concentrate
production. The current production plan is to bring between 100,000-200,000t under irrigation each
fortnight. (for total available tonnes and ounces, please refer to ASX announcements dated 7 April 2017
and 21 April 2017 respectively, regarding the JORC compliant resources available)
Above left is a recent picture of the filter presses processing concentrate from the ponds. To the right is
a recent picture of the weighing of Silver Concentrate barrels ready for dispatch.
This project has advanced considerably and we look forward to a full update within the normal quarterly
update cycle.
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