MANAGEMENT COMMENTARYCommenting on this significant acquisition,...

MANAGEMENT COMMENTARY
Commenting on this significant acquisition, Executive Chairman Roger Jackson said: “Sandy Mitchell is an outstanding
opportunity for Ark and is consistent with our strategy of focusing on projects in teir 1, stable jurisidctions that have the
potential to be near-term, low cost mining operations. Sandy Mitchell has all these characteristics with compelling geology
and is amenable to relatively straightforward gravity separation processing. We are well-advanced in the review of the
historical data and follow up exploration is likely to focus on defining more pan concentrates across multiple areas of the
tenement area, metallurgy and engineering test work to define a mining operation. As a further reflection of our confidence
in the project, we have held preliminary discussions with potential customers that are establishing processing operations in
Australia.
“In terms of the make up of the Rare Earths elements at Sandy Mitchell, Ark will focus more on extracting higher-priced
Heavy Rare Earths Elements, as highlighted, as these are well represented in historical reports assessed to date. This is one
characteristic that makes Sandy Mitchell unique and commercially appealing. We anticipate being on the ground as soon as
possible undertaking more pan concentrates to build our geological models and we anticipate a steady stream of updates.
“Ark is also continunig to advance its other asssets in Queensland with the key focus on the Gunnawarra Nickel Project
where we anticipate updating shareholders more fully on our progress here