Highlights

• Multiple thick rutile zones: Intersected from surface, including:

• 11m @ 0.49% inc. 4m @ 0.63% rutile inc. 1m @ 0.88% rutile

• 11m @ 0.47% inc. 3m @ 0.54% rutile

• 5m @ 0.51% inc. 3m @ 0.65% rutile inc. 1m @ 0.78% rutile

• 9m @ 0.42% inc. 3m @ 0.52% rutile

• Dual-commodity advantage: Newly confirmed graphite results highlight a compelling rutile-graphite system enhancing project value, with results including:

• 2m @ 0.48% TGC inc. 1m @ 0.6% TGC (total graphitic carbon)

• 5.6m @ 0.3% TGC inc.  2m @ 0.5% TGC

• 9m @ 0.27% TGC

• 7m @ 0.29% TGC

• All holes assayed ended in graphite mineralisation, with grades increasing into the saprolite horizon

• Geological model validated: Flake graphite in lower mottled and saprolite zones confirms the Central Rutile Project’s clear geological parallel to Sovereign Metals world-class flake graphite and rutile project, Kasiya, in Malawi.

• Previous reconnaissance auger drilling and channel sampling returned up to 1.57% and 2.1% in-situ rutile

• Low-cost, high-margin production potential: Saprolite-hosted flake graphite is accessible and simple to process with low opex compared to hard rock deposits.

• Follow-up drilling will target deeper, higher-grade zones: Systematic exploration at Bounde and Nganda comprising regional soil sampling and targeted hand auger drilling to delineate higher grade rutile and graphite zones is ongoing.