increase in high grade hematite

Report out

INCREASE IN HIGH‐GRADE HEMATITE RESOURCES TO OVER 500 MILLION TONNES AT
+60% Fe TOGETHER WITH 2.38BT OF ITABIRITE AT 38% Fe UNDERPINS WORLD‐CLASS
SCALE AND QUALITY OF MBALAM PROJECT
HIGHLIGHTS
 Mbalam a truly world‐class iron ore project with High Grade Hematite Resources now totalling
521.7 Mt grading 60.7% Fe which was compiled in accordance with the JORC Code.
 488.5 Mt is in the Indicated category, which represents 94% of the total resource.
 Project has additional further resources of 2.3 Bt of Itabirite Hematite at 38% Fe.
 Resource estimate now incorporates assay results from over 960 drill holes totalling more than
140,000m of drilling.
 New Resource figures fed into Definitive Feasibility Study (DFS) enhancement studies as basis
for a Reserves upgrade.
 Significant potential to grow project further with numerous drilling targets identified.
 Sundance set to enjoy first‐mover advantage in unlocking a new iron ore province.