Ann: Updated Molyhil Mineral Resource Estimate, page-3

It always amazes me how holders can read a good ann but can't be bothered posting it.
Highlights:
• Investigator’s verification program has resulted in a significant improvement in resource
confidence, lifting tonnage to the higher Measured Resource Category.
• The Measured Resource Category of the Molyhil Tungsten-Molybdenum Project im-
proved with a 150% increase in tonnes and 20% increase in WO3 grade when compared
to the previous resource estimate1. Contained tungsten metal in the Measured Resource
Category increased by 200% to 3,945 tonnes.
• Improvement in the Mineral Resource Estimate resulted from targeted infill drilling and ex-
tensive QA/QC validation.
• Work program enabled validation of historical data and improved confidence of the previ-
ous resource estimate.
• Strong improvement in tungsten and molybdenum prices reinforce their Critical Minerals
status and potential to revitalise the Molyhil Project.
• Recent renewal of Northern Territory Major Project status provides valuable pathways to
advance the project towards production following project review.
• The updated Mineral Resource Estimate will be utilised to undertake a scoping study to
evaluate the Molyhil Project’s viability, anticipated to be completed early in H2 2024.
The updated Mineral Resource Estimate (MRE) for the Molyhil Tungsten-Molybdenum Project is shown in
Table 1 below. A cut-off grade of 0.05% WO3 was selected, which is considered appropriate when taking
into account current commodity price strength and peer reporting comparisons, MRE reported to a
150mRL and based on an open pit mining scenario