Morning Trading January 24, page-96

SRN

24 January 2024

SUREFIRE DEVELOPS A BREAKTHROUGH PROCESS FOR VANADIUM EXTRACTION
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Key Points:
 Laboratory test work has developed a breakthrough pre-treatment and leach
process achieving a remarkable extraction of 91% of vanadium and 88% of titanium
directly from Victory Bore magnetite concentrate.
 This new metallurgical application alleviates the requirement for standard pretreatment processes currently used in the vanadium extraction industry.
 The process is expected to be more environmentally acceptable with low emissions
and reduced carbon footprint.
 This process will be applied to Surefire’s planned development of its Victory Bore
Project and the impact on capital cost and operating cost benefits will be assessed.
 The process will be protected by a provisional patent application, wholly owned by
Surefire.