Announcement PDF 4 September 2024 Maiden Niobium Measured and Indicated Mineral Resource at the Yangibana Rare Earth and Niobium Project HIGHLIGHTS Hastings Technology Metals Ltd (ASX: HAS) (Hastings or the Company), is pleased to announce a Maiden Niobium Measured and Indicated Mineral Resource at the Yangibana project, located in Western Australia’s Gascoyne region; herein referred to as the Yangibana Rare Earth and Niobium Project (the “Yangibana Project”). • • • • • • • • • Maiden Niobium Measured and Indicated Mineral Resource estimated at the Yangibana Project within Bald Hill and Simon’s Find deposits. Niobium Pentoxide Measured and Indicated Mineral Resource now 6.7Mt at 2,305ppm for 15,501t Nb2O5. Niobium present within the existing footprint of the Yangibana Project. Niobium (Nb2O5) concentrations occur in the form of mineral ferro-columbite at the Yangibana Project over a 4-kilometre strike at the existing Simon’s Find and Bald Hill deposits. A Bald Hill sample generated from process development test work reported XRF assays 1.35% Zr and 0.08% Hf. Subsequent standardless semi-quantitative analysis reported that zircon in the sample was the source of the reported zirconium and hafnium, contained at a ratio of 13 to 1 (49.0% / 3.8%). The Hf-enriched zircons from Bald Hill thus contain 3.8 times the HfO2 content compared to the benchmark of 50:1 1. Studies underway to incorporate the ferro-columbite estimate value into an updated Ore Reserve. Besides this reported maiden Niobium MRE, an updated Mineral Resource Estimate is expected to be available by November 2024, including the potential of associated Critical Minerals ZrO2 and HfO2 after conclusion of metallurgical testing of the recovery of zircon, (and associated hafnium) in addition to TREO and ferrocolumbite 2. The additional Critical Metals will provide a multi-commodity recovery process stream and byproduct credit income. Niobium is a technology-Critical Metal with major uses in making steel lighter and stronger, hightech alloys and faster recharging of Li-ion batteries. Global production is centred on Brazil (about 90%, with new supply chains being sought). Analysis of previous drilling at Bald Hill and Simon’s Find trend (Figures 1 and 2) and the completion of additional Niobium assays has allowed for the completion of an initial Niobium Mineral Resource estimate for these deposits (Table 1). Importantly, this area is near the planned process plant and vital for the feed required upon project commissioning in Q4 2026. 1 ASX Announcement 26 August 2024 “High-grade Niobium, Rare earth and Hafnium-rich Zircon Rock Chip Results at Hastings Yangibana Project”. 2 ASX Announcement 26 August 2024 “High-grade Niobium, Rare earth and Hafnium-rich Zircon Rock Chip Results at Hastings Yangibana Project”. Page 1 of 37 Hastings Chief Geologist, Dr Louis Schürmann, said: “The maiden Niobium Mineral Resource Estimate is an important step towards providing a multi-commodity recovery process stream and by-product credit income. The Yangibana Project hosts the Gifford Creek Carbonatite which is an important depository’s of REE and Critical Metals, while the designed beneficiation plant will be capable of producing ferrocolumbite, Hf-rich zircon and monazite concentrates. Yangibana’s multi-commodity potential is being expanded through further exploration and ongoing metallurgical testing of hafniumenriched zircon.” Table 1: Total JORC (2012) Niobium Mineral Resources September 2024. Category M Tonnes Nb2O5 ppm Nb2O5 t Measured 2.37 1,035 2,451 Indicated 4.36 2,995 13,050 sub-total 6.73 2,305 15,501 Inferred 0.01 1,435 20 TOTAL 6.74 2,305 15,521 • • Numbers may not add up due to rounding. Includes JV tenement contributions. Reporting of Mineral Resources for Bald Hill and Simon’s Find is at a cut-off grade of 0.24% total rare earth oxides (TREO) within the existing pit design. Summary The initial Niobium Mineral Resource Estimate has been applied to defined at Bald Hill and Simon’s Find. Total Niobium Mineral Resources at the Yangibana project now stand at 6.74Mt @ 2,305ppm Nb2O5. The most recent drilling program conducted from November 2021 to February 2022 was targeting remaining areas of Inferred Mineral Resource category material along the 8km long Bald Hill, Simon’s Find, Fraser’s trend. Holes were also drilled to extend mineralised trends outside of the current Mineral Resource down dip. All Yangibana project deposits start from surface and contain large coherent domains comprising mostly high-value rare earths dominated mineral assemblage. Hastings is planning additional drilling programs across all Yangibana deposits. The work undertaken to estimate the Niobium Mineral Resource was completed by David Princep of Gill Lane Consulting and incorporates all the information and data that was used in the previous Mineral Resource estimates plus the 2021-2022 drill program data which was released to the ASX on the following dates: 9 June 2022 and 25 July 2022 with the previous REE estimates being released to the ASX on 11 October 2022. Hastings is focussed on progressing further metallurgical testing of Niobium bearing mineralisation to ensure that the maximum value is returned from the deposits. Additional mine planning studies will be undertaken based on this initial Niobium Mineral Resource to maximise the extraction of material from the Bald Hill and Simon’s Find pits. Page 2 of 37 Impact on Yangibana Project Recent geological, mineralogical, and metallurgical studies have revealed a promising pathway for extracting high-grade Niobium concentrate from the Bald Hill and Simons Find deposits. Key findings include: • High-Grade Niobium Occurrence: The majority of Niobium in the ore is present in ferrocolumbite, a mineral with a high Niobium content. • Liberation Potential: A substantial portion of Niobium is liberated at a particle size of 90µm, indicating excellent potential for concentration. • Tailings Recovery: Opportunities identified to recover Niobium from the tailings stream of the existing rare earth flotation process by implementing specific chemical conditions and additional processing steps. These findings have identified the unit processes that would enable the niobium to be recovered from the existing beneficiation flowsheet with modifications that incorporate: • • • Ore Dressing: A preliminary stage to separate high-density minerals, including Niobium-bearing minerals, from the ore. Magnetic Separation: The use of high-intensity magnetic separators to further concentrate Niobium-rich materials. Flotation Optimisation: Tailored flotation conditions to selectively recover Niobium from the concentrate. Hastings is confident that these additional unit processes will enable Yangibana to produce a high-quality Niobium concentrate, significantly enhancing the value of the Bald Hill and Simons Find deposits. Hastings Chief Operating Officer, Tim Gilbert, said: “Hastings have been working closely with its partners to optimise the Yangibana process plant for rare earth recovery. Hastings see another opportunity at Yangibana to include an additional Niobium recovery circuit. Initial test work indicates a relatively simple circuit comprising magnetic separation and float circuit, positioned after and in series with the rare earths circuit, to recover Niobium and Zircon/hafnium concentrates in two streams. Additional test work is required to confirm the final circuit, with process design, detailed engineering and capital cost estimation to follow. Hastings is confident that the additional magnetic separation and flotation circuit can be effectively and quickly designed and implemented at Yangibana.” GR Engineering Services Manager – Projects, Antonio Cinanni, said: “GRES has been working with Hastings on the Yangibana Rare Earths beneficiation plant for over 12 months. During the time, GRES have undertaken detailed process engineering and design of the benefaction plant. With the presence of niobium in the existing permitted Yangibana ore bodies, Hastings has initiated discussions with GRES to modify the current process plant to also include the recovery of niobium. Hasting's intention is to work with GRES to complete test work and implement the Niobium recovery circuit.” Page 3 of 37 Figure 1: Yangibana Conceptual Critical Mineral Flowsheet – additional unit processes required boxed with black dashed line. Hastings continues to progress work on the fully permitted project at Yangibana. Yangibana has a 17year mine life and will create significant employment via construction and operations jobs in the Gascoyne region as well as making a strong economic contribution at each of Commonwealth, State and local levels (including Native Title royalties). The ability to recover niobium within the current mine life, coupled with the project cost reductions announced in June 2024 3, with the current ongoing exploration and updated Mineral Resource estimates (this announcement), has the potential for life of mine and product extensions. Substantial progress at Yangibana has been made with early infrastructure (accommodation village, airstrip, access roads etc) having been completed, an EPC contract with GR Engineering Services for Beneficiation Plant construction in place, and long lead equipment having been secured and ready for deployment. Timing remains on track for first production in 2026, subject to FID / Project Funding. Page 4 of 37 3 ASX Announcement 13 June 2024 “Yangibana Rare Earths Project Cost Reduction”. Figure 2: Current designed beneficiation plant for the Yangibana Project. Figure 3: Planned timeline for the Yangibana Project from Q1 20230 to Q4 2026 (reference to ASX Announcement 31 May 2023 “Yangibana Project Update – Staged development strategy to reduce project delivery risk and enable further pathway to cash flow”). Page 5 of 37 Figure 4: Map showing location of Yangibana deposits and planned site infrastructure. Page 6 of 37 Figure 5: Oblique Bald Hill to Simon’s Find Long Section (looking east) showing Resource Classifications originally from the 2022 TREO block model which underpins the MRE outlined in this announcement (Red = Measured Resource; Blue = Indicated Resource; Green = Inferred Resource). Page 7 of 37 Geology The near surface mineralisation throughout the Yangibana Project is hosted by iron oxides and hydroxides termed ironstone, being the alteration products of the primary hosts ferro-carbonatite and phoscorite intrusive veins. The main rare earths-bearing mineral is monazite which has locally undergone alteration at shallow depths (to 25m depth) to its hydrous equivalent rhabdophane and to rare earths-bearing aluminium-phosphates such as florencite. The deposits occur as narrow but strike extensive veins that have a range of dips from almost horizontal (10-20o) to sub-vertical. Average true thickness varies from 2.2m to 3.5m throughout the Yangibana deposits although locally true thicknesses in excess of 20m occur. Drilling Hastings completed an extensive drill program between November 2021 and February 2022 comprising 170 holes for 13,334m of reverse circulation (RC) drilling. The results from the program successfully extended known mineralisation down dip within the mineralised Bald Hill – Simon’s Find – Fraser’s trend as well as infilling near-surface portions which previously had insufficient drilling and were subsequently classified as Inferred Mineral Resources (>50m by 50m drill spacing). This drilling also improved the distribution of Niobium assays throughout the Bald Hill and Simon’s Find deposits. Drillholes were a mix of vertical and inclined (between 50-70 degrees) to optimise the mineralised zone intersection angle as close to true thickness as possible. Internal downhole surveys were carried out at 30m intervals downhole by the drilling contractors using a Reflex electronic multi-shot survey tool. Collar surveys were carried out and collected by Survey Group using DGPS utilising a locally established control point. Accuracies of the drillhole collar locations collected by Survey Group is better than 0.1m. Downhole density data was collected on a large suite of holes utilising a Geovista FDSB-4620 downhole density tool on a continuous basis giving 1cm data resolution. RC holes were drilled using a nominal 5¼ inch diameter face-sampling bit. Samples were collected through a built-in cyclone with a triple-tier riffle-splitting system providing a large sample of approximately 25kg and a sub-sample of 2-4kg from each metre drilled, of which selected samples were sent for analysis, from each metre drilled. Field duplicates, blanks and Reference Standards were inserted at a rate of approximately 1 in 20. Sampling Samples were routinely sent to Intertek Genalysis in Perth for analysis using techniques considered appropriate for the style of mineralisation. Samples were analysed for the range of rare earths, rare metals (Nb, Ta, Zr, Hf), thorium and a range of common rock-forming elements (Al, Ca, Fe, Mg, Mn, P, S, Si, Sr). Page 8 of 37 Once assay data were returned, the elemental values were converted to oxides using standard factors. Quality Control In total, the quality control regime executed has provided reasonable support for the accuracy and precision of the assay results underpinning the Mineral Resource estimate. The vast majority of results for standards remain within the normal control limits of 2 standard deviations. Bulk densities were completed previously by either the Company or at independent laboratories on core from each of the main deposits. Samples from each of the oxidised, partially oxidised, and fresh mineralisation zones were tested with results feeding into the Mineral Resource estimations based on weathering surfaces as defined by the Company. During the 2020 and the more recent 2021-2022 drilling program 191 drill holes were downhole logged using a gamma – gamma density probe in order to provide additional bulk density values. The geophysically derived density values were compared to existing and new physically measured density values as well as to known geology (quartz veining in particular) and was found to be a reliable indication of in-situ bulk density. A review of the total bulk density dataset showed variations in density in line with the type of mineralisation that was encountered in the diamond drilling. The incorporation of a significant amount of downhole density data into the Mineral Resource estimate dataset has allowed for the derivation of density factors with respect to vertical depth for both mineralised and non-mineralised intervals. These have been used in the updated Mineral Resource estimate. Interpretation of Geology The mineralisation at Bald Hill and Simon’s Find comprises a series of narrow, high grade TREO zones, associated with fenitised hanging and footwall country rock with strike extents up to several kilometres. Individual mineralised zones are 1 to 15m wide and extend down dip for at least 125m with dips varying from sub-horizontal to sub-vertical. Confidence in the geological interpretation is good. The interpretation is based on drilling that ranges from a 25 m by 25 m spacing to 50 m by 50 m spacing. The interpretation also incorporates data gathered from surface mapping of exposures. The mapping has assisted in understanding the controls on mineralisation to improve the confidence in the geological interpretation. All available data from drilling and mapping is used in the geological interpretation. An iterative process has been adopted with respect to the geological interpretation to ensure that it reflects the current understanding of the geology and controls on mineralisation. Each of the two deposits was assessed for grade and geological continuity and the mineralised wireframes were defined around a nominal 250ppm Niobium (Nb) value. The drilling data was limited to selected assay intervals with several sections of the drilling unsampled in areas where no mineralisation was believed to exist. In some areas these wireframes were reasonably coincident with the previously estimated TREO wireframes however the correlations between the two Page 9 of 37 were not universal with areas where the Nb wireframe were partially or wholly outside of the TREO wireframe. It is expected that, with additional metallurgical test work, these areas may be able to be included within the Niobium mineral resource estimate and therefore constitute a potential upside to the two deposits. Within the Mineral Resource estimate data set the unsampled zones within the drilling were replaced with zero values. In a limited number of instances, for geological consistency, the mineralised envelopes were carried through areas within drill holes that had not been sampled. In these cases, the minimum thickness of intercept was assumed to be 2m and, in common with the rest of the drilling, these intervals were assumed to be at zero grade. Figure 6: Bald Hill section, TREO wireframe in blue, Nb wireframe in red. Figure 7: Simon’s Find section, TREO wireframe in blue, Nb wireframe in red. Cut-Off Grades Wireframing of the two deposits was conducted using a Nb cut-off grade to improve the geological and grade consistency of the modelled wireframes. In this instance a Nb grade of approximately 250ppm was chosen for the wireframing value as this was considered to represent the transition between consistently mineralised and unmineralized material. In cases where a lower grade was adjacent to significantly higher grades, the lower grade interval was incorporated into the wireframe as these were constructed around the final 1m composites rather than the original selective sampling. This process created a level of conservatism whereby lower grades of Nb were incorporated into the wireframe. Additional conservatism was added by only allowing the wireframes to be extrapolated down dip below the last drill hole, using the geological convention of 50% of the local drill hole spacing. Page 10 of 37 Following mine planning studies a reporting cut-off grade of 0.24% TREO has been defined. This value was initially based on a net smelter return (NSR) calculation using all the component elements making up the TREO value, with additional work allowing this to be simplified to a singular TREO value. The cutoff grade is based on Hastings’ view on the individual prices for the various rare earth elements, individual processing recoveries and overall processing costs. As the recovery of Niobium is currently expected to be as a direct byproduct value the TREO cut-off grade has been retained for the reporting of Nb mineral resource grades. The Nb mineralisation has also been limited to the existing Ore Reserve pit designs to reflect its byproduct status. It should be noted that Nb mineralisation is present outside of the TREO wireframes which has the potential to add additional value to the project should additional metallurgical testing and process costing prove successful. Sample Data The population distributions for Nb for Bald Hill and Simon’s Find show significant differences with the Bald Hill mineralisation being generally lower in tenor and biased very much towards the lower grades. In contrast Simon’s Find mineralisation is significantly higher in grade with a much more pronounced high-grade tail. The mineralisation is also more consistent, potentially because of revised sampling protocols, providing for more infill assays. Figure 8: Distribution of Nb grades for the Bald Hill deposit. Page 11 of 37 Figure 9: Distribution of Nb grades for Simon’s Find deposit. The coordinated dataset was intersected with the mineralisation wireframes with the resulting domain allocated data being used for the estimation. To limit the impact of extreme grades a top cut of 15,000ppm was applied. This resulted in a reduction in the mean value from 1,627 to 1,506ppm with 77 out of a total of 7,026 samples being cut; more importantly the coefficient of variation for the dataset was reduced from 2.23 down to 1.75 making the dataset more appropriate for an ordinary kriged (OK) estimate. Table 2: Statistics for both un-cut and cut datasets. Un-cut Nb Cut Nb Minimum 0 0 Maximum 82,229 15,000 Mean 1,627 1,506 Median 487 487 Standard Deviation 3,624 2,643 Coefficient of Variation 2.227 1.754 Samples 5,823 5,823 Comparison with Previous Mineral Resource Estimate The mineral resource estimate outlined in this announcement represents an initial mineral resource for both deposits and therefore no comparison to any previous estimate is presented. Page 12 of 37 Block Modelling Parameters – Bald Hill and Simon’s Find Mineral Resources only Due to the complexity and generally narrow nature of the mineralisation the Mineral Resource estimates were undertaken on ‘flattened’ block models following the allocation of block proportions from the updated mineralisation wireframes. This flattening process allowed for the use of Ordinary Kriging estimation techniques. One metre down hole compositing based on the assay data and wireframes was used to regularise the assayed intervals. Summary statistics for each deposit were used to identify the presence of outliers. For each deposit, variograms of Nb were defined and used in the mineral resource estimate. In all instances the directional trends evident in the variogram maps are evident to some extent in plan views of the sample data, and they normally conform to the orientation of the mineralisation within the wireframes. As expected, variogram model ranges in the vertical direction are relatively short due to the predominantly thin nature of the mineralisation. The majority of variograms display reasonable structure, with anisotropies reflecting those observed in the variogram maps. Variography was performed on the flattened dataset with the following results. Three component models were constructed with the nugget being 303,335, sill 1 150,000, Sill 2 1,023,264 and Sill 3 9,786,987 for a target total sill of 11,259,019. Table 3: Variogram direction parameters. Direction 1 2 3 0 22.2 62.4 963.8 90 10.0 45.0 1,664.0 0/-90 1.6 3.9 6.8 Table 4: A six-pass search process was employed to fully populate the block model; the search parameters are detailed. Distance Octants Minimum Samples Thickness 1 25 2 8 1 2 50 2 8 2 3 80 2 8 4 4 120 2 4 6 5 200 1 4 10 6 200 1 4 20 Pass Page 13 of 37 The mineral resources were created with the same original block size of 2m x 2m x 1m. This size was chosen as a compromise between the average drill spacing (up to 40m x 40m in some areas), size of the mineralisation wireframes (in order to limit resulting low mineralised proportions), orientation of mineralisation (ideally, the blocks would have been orientated with the mineralisation however this results in a model that is unusable for pit optimisation purposes), grade distribution within the mineralisation and the models’ ultimate use for mine planning purposes. A re-blocked (to 4m x 4m x 2m) model was provided for mine planning purposes to reduce the overall size of the Mineral Resource models, this resulted in the addition of minor amounts of dilution being incorporated into these models. The reporting within this announcement is based on the re-blocked models to provide a more direct comparison to any future ore reserve estimates. In order to confirm the impact of the cutting of the sample dataset both the cut and un-cut values were estimated in conjunction with a check, nearest neighbour estimate. Validation of the resulting model was undertaken both visually, by comparing the local block model grades and by completing swath plots of the model estimated grades and underlying samples. The various swath plots are shown in Figure 10 to 13. Figure 10: East Swath Plot. Page 14 of 37 Figure 11: North Swath Plot. Figure 12: RL Swath Plot. To detail the relationship between the cut, uncut and nearest neighbour estimates swath plots of the three values were completed with the north section plot presented. Figure 13: North Block Model Swath Plot. Page 15 of 37 The swath plot shown in Figure 13 indicates the areas where the extreme grades occur within the deposits, particularly at the southern end of the main, continuous Simon’s Find – Bald Hill trend. The Mineral Resources have been classified in the Measured, Indicated and Inferred categories, in accordance with the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC) by the Competent Person. A range of criteria was considered in determining the classification including geological and grade continuity, data quality, drill hole spacing, and modelling technique and kriging output parameters. As a rule, the following spacings characterise the Mineral Resource classification: • • • Infill drilling between 20m by 20m and 35m by 35m – Measured Category Drill spacing up to 50m by 50m – Indicated Category Drill spacing 100m by 50m to 100m by 100m – Inferred Category. Page 16 of 37 Estimated (JORC 2012) Mineral Resources – by Deposit The following tables represent those deposits that have been re-estimated and updated from the May 2021 Mineral Resource estimate. Numbers may not add up due to rounding and are reported at a 0.24% TREO cut-off grade within the Ore Reserve pit shell. Table 5: Bald Hill Nb Estimated Mineral Resource, 100% Hastings Technical Metals Ltd. Category M Tonnes Nb2O5 ppm Nb2O5 t Measured 2.37 1,035 2,451 Indicated 2.20 1,635 3,594 Inferred 0.007 735 6 TOTAL 4.57 1,325 6,6051 Table 6: Simon’s Find Nb Mineral Resource, 100% Hastings Technology Metals Ltd. Category M Tonnes Nb2O5 ppm Nb2O5 t Measured - - - Indicated 2.16 4,375 9,455 Inferred 0.006 2,290 14 TOTAL 2.17 4,370 9,469 Authorised by the Board for the release to the ASX. FOR FURTHER INFORMATION CONTACT: Louis Schürmann Charles Lew Executive Chairman Chief Geologist +65 6220 9220 +61 8 6117 8629 MEDIA ENQUIRIES: Vince Catania General Manager - Corporate +61 408 230 277 vince.catania@hastingstechmetals.com Page 17 of 37 Teck Lim Chief Financial Officer +61 8 6117 6118 ABOUT HASTINGS TECHNOLOGY METALS LIMITED Hastings Technology Metals Limited is a Perth-based rare earths company focused on the development of its 100% owned Yangibana Rare Earths Project. Located in the Gascoyne region of Western Australia, the Yangibana Project contains one of the most highly valued deposits of NdPr in the world with an NdPr to Total Rare Earth Oxide ratio of up to 52% in some areas of the orebody. With an initial mine life of 17 years, the Yangibana Project will become a globally significant source of NdPr, a critical component in the manufacture of permanent magnets used in advanced technology products including electric vehicles, renewable energy, humanoid robotics, and digital devices. The Yangibana Project is fully permitted for immediate development and is well-timed to meet the forecast supply gap for rare earth elements accelerated by the growth in electric vehicles and wind turbines, both vital for the global energy transition. It will be developed in two stages with an initial focus on the construction of the mine and beneficiation plant to produce 37,000 tonnes per annum of mixed rare earth concentrate. Hastings continues to assess downstream processing opportunities including the development of a hydrometallurgical plant to capture more of the rare earth value chain. The Company holds a strategic 21.5% shareholding in TSX-listed Neo Performance Materials, a leading global rare earth processing and advanced permanent magnets producer, providing future optionality to explore the creation of a mine to magnet supply chain. Hastings recognises in its geological model and mine plan the potential of a multi-commodity recovery process stream which underpins the economic recovery of REM and associated critical minerals like ferro-columbite, and hafnium-enriched zircon. For more information, please visit www.hastingstechmetals.com Competent Person Statements The information in this announcement that relates to Mineral Resources is based on information compiled by David Princep. Mr Princep is an independent consultant to the Company and member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Princep has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”). Mr. Princep consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The scientific and technical information that relates to process metallurgy is based on information reviewed by Mr Scott Atkinson (Principal Metallurgist – Process Development). Scott Atkinson is an employee of the Company and a member of the Australasian Institute of Mining and Metallurgy (MAusIMM). He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined by the JORC (2012) Code. Mr Scott Atkinson consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears. The information that relates to Exploration Results is based on information reviewed and compiled by Louis Schürmann. Dr Schürmann is an employee of the Company and is a Fellow of the Australian Page 18 of 37 Institute of Mining and Metallurgy (FAusIMM). Dr Schürmann has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this report