Ann: Update to PFS Announcement and Presentation, page-86

e Graphite Creek project in Alaska and Lincoln Minerals' Kookaburra Graphite Project (KGP) in South Australia are both significant graphite resources, each with distinct characteristics.Graphite Creek Project**:

• Location: Appximately 60 km north of Nome, Alaska.

• esource Estimate**: As of rch 2023, the project has Measured and Indicated Resources totaling 37.6 million tonnes at 5.14% graphitic carbon (Cg), containing approximately 1.93 million tonnes of graphite. Additionally, there are Inferred Resources of 243.7 million tonnes at 5.07% Cg, equating to about 12.34 million tonnes of graphite. (grapteoneinc.com

Kookaburra Graphite Pject (KGP):

• Location: On South Australia's Eyre Peninsula, approximately 35 km north of Port Lincoln.

• Resource Estimate: As of April 2024, KGP has a Total Resource of 12.8 million tonnes at 7.6% total graphic carbon (TGC), conining approximately 973,000 tonnes of gphite. This includes a high-grade core of 2.9 million tonnes at 13.6% TGC. (company-announcements.copyright link)

Comparison:

• Resource Size: Graphite Creek has a larger total rue, especially in the Inferred category, indicating significant potential for future development.

• Grade: KGP boasts a higher graphite grade, particularly within its high-grade core, which may or advantages in mining and processing efficiency.

Both projects are strategically important, aiming to enhance domestic graphite production in their respective countries to meet the growing demand in industries such as energy storage and electronics.