Ann: Sugarloaf Graphite Metallurgy Update, page-2

Sugarloaf Graphite re-classified as a micro-crystalline flake
graphite
• Average flake size varies from 11µm to 30µm based on scanning
electron microscope and petrological analysis
• Opens the pathway to produce a premium battery anode material
using an optimal micro-crystalline flake size
• Next steps for Q1 2023
o Working with our partners ANZAPLAN, in Germany, to
develop a flow sheet to produce a high-grade concentrate
with economic recoveries
o If successful, undertake further optimisation, purification
and spheroidisation test work
o Undertake a 2,000m reverse circulation drilling program
to test the extents of graphite mineralisation at the
Sugarloaf Prospect
• Sugarloaf has a Graphite Exploration Target of 158 - 264 Mt @ 7 -
12 % TGC
“With these positive initial metallurgical results, the Sugarloaf Graphite
Exploration Target has the potential to add significant resources to the
Campoona Graphite Project. Having been previously overlooked in the
past due to its fine flake size, iTech believes it has potential as a source of
graphite for the anodes of lithium-ion batteries in which fine flake size is a
desirable characteristic”