Mineral Resource Estimate for the Thomas Deposit, Pitfield - October 2025

Domain

Cut-Off

Indicated

Inferred

Total Mineral Resource

Material Type

TiO₂ (%)

Tonnes (Mt)

Grade (%)

Tonnes (kt)

Tonnes (Mt)

Grade (%)

Tonnes (kt)

Tonnes (Mt)

Grade (%)

TiO₂

Tonnes (kt)

Laterite

2.5

33

3.0

1,000

20

5.0

1,000

53

3.8

2,000

Saprolite

95

5.3

5,000

70

4.3

3,000

165

4.8

8,000

Weathered

461

5.4

25,000

460

4.8

22,000

921

5.1

47,000

Fresh

52

5.8

3,000

580

4.8

28,000

632

4.9

31,000

Total

641

5.3

34,000

1,130

4.8

54,000

1,770

5.0

88,000

Mineral Resource Estimate for the Cosgrove Deposit, Pitfield - October 2025

Domain

Cut-Off

Indicated

Inferred

Total Mineral Resource

Material Type

TiO₂ (%)

Tonnes (Mt)

Grade (%)

Tonnes (kt)

Tonnes (Mt)

Grade (%)

Tonnes (kt)

Tonnes (Mt)

Grade (%)

TiO₂

Tonnes (kt)

Laterite

2.5

1.2

5.8

70

7

5.8

406

8

5.8

476

Saprolite

11

6.4

700

15

6.0

900

26

6.2

1,600

Weathered

35

5.7

2,000

111

6.3

7,000

146

6.2

9,000

Fresh

9

5.3

480

240

5.4

13,000

249

5.4

13,480

Total

56

5.8

3,250

373

5.7

21,306

430

5.8

24,556

Combined Mineral Resource Estimates for the Pitfield Project - October 2025

Domain

Cut-Off

Indicated

Inferred

Total Mineral Resource

Material Type

TiO₂ (%)

Tonnes (Mt)

Grade (%)

Tonnes (kt)

Tonnes (Mt)

Grade (%)

Tonnes (kt)

Tonnes (Mt)

Grade (%)

TiO₂

Tonnes (kt)

Laterite

2.5

34

3.1

1,070

27

3.1

1,406

61

4.0

2,476

Saprolite

106

5.4

5,700

85

5.4

3,900

191

5.0

9,600

Weathered

496

5.4

27,000

571

5.4

29,000

1,067

5.2

56,000

Fresh

61

5.7

3,480

820

5.7

41,000

881

5.0

44,480

Total

697

5.3

37,250

1,503

5.0

75,306

2,200

5.1

112,556

Thomas

Cosgrove

Other Areas

Year

Hole Type

Count

Metres

Count

Metres

Count

Metres

2023

RC

11

1,712

13

1,848

36

5,343

DD

1

408

1

400

1

408

2024

RC

19

2,926

20

3,006

1

154

DD

7

771

7

715

2025

AC

183

8,679

42

2111

RC

40

3,776

Totals

261

18,271

83

8,080

38

5,905

Cover (sand)

1

2.06

1.70

Laterite

1

1.78

1.78

Saprolite

6

2.02

2.02

Weathered sandstone

25

2.14

2.14

Fresh sandstone/conglomerate

7

3.07

3.07

Factors

Dilution

%

0

Snowden Optiro assumption - bulk commodity

Mining recovery

%

100

Snowden Optiro assumption - bulk commodity

Process recovery

%

70

Empire provided data

Financial

Price - TiO₂

US$/t TiO₂ (FOB)

2,500

Empire provided data to Snowden Optiro based on external expert advice

Costs

Mining

US$/t rock

3

Empire provided data

Incremental ore cost

US$/t rock

0.5

Snowden Optiro assumption

Processing

US$/t rock

38

Empire provided assumption

G&A

US$/t rock

1.5

Snowden Optiro assumption

Total ore cost

40

Product transport

US$/t TiO₂

20

160 km to Geraldton Port

Royalty

% price

2.5

WA state royalty

Geotech

Saprolite

degrees

40

Snowden Optiro assumption

Weathered/fresh

degrees

45

Snowden Optiro assumption

Marginal cut-off calculation

% TiO₂

2.36

Calculation

Empire Metals Ltd

Shaun Bunn / Greg Kuenzel / Arabella Burwell

Tel: 020 4583 1440

S. P. Angel Corporate Finance LLP (Nomad & Broker)

Ewan Leggat / Adam Cowl

Tel: 020 3470 0470

Shard Capital Partners LLP (Joint Broker)

Damon Heath / Erik Woolgar

Tel: 020 7186 9950

St Brides Partners Ltd (Financial PR)

Susie Geliher / Charlotte Page

Tel: 020 7236 1177

Indicated Mineral Resource

An 'Indicated Mineral Resource' is that part of a Mineral Resource for which quantity, grade (or quality), densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes, and is sufficient to assume geological and grade (or quality) continuity between points of observation where data and samples are gathered. An Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Ore Reserve.

Inferred Mineral Resource

An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade (or quality) are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade (or quality) continuity. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

JORC

JORC stands for Australasian Joint Ore Reserves Committee (JORC). The Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) is widely accepted as the definitive standard for the reporting of a company's resources and reserves. The latest JORC Code is the 2012 Edition.

Measured Mineral Resource

A 'Measured Mineral Resource' is that part of a Mineral Resource for which quantity, grade (or quality), densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes, and is sufficient to confirm geological and grade (or quality) continuity between points of observation where data and samples are gathered. A Measured Mineral Resource has a higher level of confidence than that applying to either an Indicated Mineral Resource or an Inferred Mineral Resource. It may be converted to a Proved Ore Reserve or under certain circumstances to a Probable Ore Reserve

Mineral Reserves or Ore Reserves

An 'Ore Reserve' is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.

Mineral Resource

A 'Mineral Resource' is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade (or quality), and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade (or quality), continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.

Sampling techniques

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

• Air core (AC) samples were collected directly from an AC drill rig using a cone splitter at intervals every 2m downhole.

• Reverse circulation (RC) samples were collected directly from an RC drill rig using a cone splitter at intervals every 2m downhole.

• Diamond core samples were taken from the diamond core (HQ and NQ) that was sawn in half, with half going for assay and other half retained in core tray. Hole drilled with PQ, predominantly for metallurgical samples, were cut in half and then one half cut in quarter. The quarter was sent for assay and the remaining three quarters retained for metallurgical sampling. Samples were taken based on the geological logging of the drill holes.

• Duplicates were inserted with sample numbers ending in 20, 40, 60 and 80 within the numbering sequence and were collected at the same time as the original sample through the chute of the cone splitter. Blanks were inserted at the beginning of each hole and CRM's were inserted every 25 samples. The Ti grade range of the CRM's went for <0.5% to <9% Ti to ensure coverage over the range of Ti values that have been seen at Pitfield.

• Sample preparation was undertaken at Intertek Minerals laboratory in Maddington WA, where the samples received were sorted and dried. Primary preparation for diamond core samples, crush each sample in its entirety to 3mm. RC samples were primarily crushed to 3mm. Larger volume samples (>5kg) were split with a riffle splitter. All samples were pulverised via robotic pulveriser. Internal screen sizing QAQC is done at 90% passing 75um.

Drilling techniques

• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

• Diamond drilling techniques varied dependent on which phase of drilling, during phase 2 rock rollers were used at the top of hole until competent rock intersected and HQ sized core was drilled (63.5mm diameter) to a depth of approximately 100m and then NQ2 sized core was drilled (50.6mm diameter) to the bottom of the hole.

• Drilling in phase 3 and 4 employed PQ size core (83mm diameter) from surface to obtain core for geological, geochemical and metallurgical samples, once PQ core hit competent bedrock HQ size core was drilled to the bottom of the hole.

• Where RC drilling techniques were employed holes were drilled from surface using a nominal 140mm face sampling RC drill bit.

• AC drilling was carried out from surface with a 76mm air core blue bit

Drill sample recovery

• Method of recording and assessing core and chip sample recoveries and results assessed.

• Measures taken to maximise sample recovery and ensure representative nature of the samples.

• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

• Diamond core was reconstructed into continuous runs. Depths were measured from the core barrel and checked against marked depths on the core blocks. Core recoveries are very high with >95% of the drill core having recoveries of >99%

• RC sample quality was monitored by the onsite geologist. The sampling methodology from the rig was consistent throughout the drilling program.

• AC sample quality was monitored by the onsite geologist. The sampling methodology from the rig was consistent throughout the drilling program.

• Overall high drill sample recoveries limit the potential to introduce any sample bias. Duplicate samples are all within tolerance limits and therefore no sample bias has been introduced.

Logging

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

• Detailed diamond drill core logging was carried out, recording weathering, lithology, alteration, mineralisation, structure and mineralogy. Drill core was logged by Empire Metals full time geologists. Drill core logging is qualitative. Drill core was photographed wet and dry in core trays prior to sampling. Core from the entire drill hole was logged.

• Detailed RC drill chip logging of every entire drill hole was carried out, recording weathering, lithology, alteration, veining, mineralisation and mineralogy. RC logging on the project has been carried out by Empire Metals full time geologists and contractors. RC logging is qualitative. RC chips were collected in chip trays. Photographs of chip trays were captured.

• Detailed AC drill chip logging of every entire drill hole was carried out, recording weathering, lithology, alteration, veining, mineralisation and mineralogy. AC logging on the project has been carried out by Empire Metals full time geologists and contractors. AC logging is qualitative. RC chips were collected in chip trays. Photographs of chip trays were captured.

• Rock chips were collected as part of a detailed surface geological mapping program. Qualitative field logging of the rocks was completed in the field including assessment of weathering, lithology, alteration, veining, mineralisation and mineralogy by Empire Metals geologists and consultants.

Sub-sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.

• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

• Air core (AC) samples were collected directly from an AC drill using a static cone splitter at 2m intervals down hole. Both dry and wet samples were collected. Duplicates were inserted with sample numbers ending in 20, 40, 60 and 80 within the numbering sequence. CRM's inserted with sample numbers ending in 00, 25, 50 and 75 within the numbering sequence. Blanks inserted at the beginning of the hole.

• Reverse circulation (RC) samples were collected directly from an RC drill using a static cone splitter at 2m intervals down hole. Both dry and wet samples were collected. Duplicates were inserted with sample numbers ending in 20, 40, 60 and 80 within the numbering sequence. CRM's inserted with sample numbers ending in 00, 25, 50 and 75 within the numbering sequence. Blanks inserted at the beginning of the hole.

• Diamond core samples were taken from the diamond core (PQ, HQ and NQ) that was sawn in half and then one half cut for assay samples and metallurgical samples. Samples were taken based on the geological logging of the drill holes. Standards inserted with sample numbers ending in 00, 25, 50 and 75 within the numbering sequence.

• Sample preparation was undertaken at Intertek Minerals laboratory in Maddington WA, where the samples received were sorted and dried. Primary preparation for diamond core samples, crush each sample in its entirety to 3mm. RC samples were primarily crushed to 3mm. Larger volume samples (>5kg) were split with a riffle splitter. All samples were pulverised via robotic pulveriser. Internal screen sizing QAQC is done at 90% passing 75um.

• Duplicate samples are all within tolerance limits and therefore no sample bias has been introduced.

Quality of assay data and laboratory tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

• Sample preparation for all AC, RC and diamond samples was undertaken at Intertek Minerals laboratory in Maddington WA, where the samples received were sorted and dried. Primary preparation for diamond core samples was to crush each sample in its entirety to 3mm. AC and RC samples were primarily crushed to 3mm. Larger volume samples (>5kg) were split with a riffle splitter. All samples were pulverised via robotic pulveriser. Internal screen sizing QAQC is done at 90% passing 75um.

• Prior to October 2024 a 4 acid digest was used with ICPMS finish (4A/MS48) as the initial assay technique, if the Ti assay values were >2% Ti, the samples were re-assayed using a borate fusion digest to ensure complete digest of Ti minerals, these were then analysed by ICPOES (FP1/OM).

• In October 2024 the analytical methodology was altered to reduce the number of initial elements analysed to 33. This was done with a 4-acid digest and samples analysed by ICPOES (4A/OE33). If Ti >2% then the samples were re-assayed using a borate fusion digest used and analysed by ICPOES (FP1/OM).

• Certified analytical standards were inserted with sample numbers ending in 00, 25, 50 and 75 within the numbering sequence for all AC, RC and diamond samples.

• Duplicates were inserted with sample numbers ending in 20, 40, 60 and 80 sample numbers within the numbering sequence for all AC and RC samples.

Verification of sampling and assaying

• The verification of significant intersections by either independent or alternative company personnel.

• The use of twinned holes.

• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

• Discuss any adjustment to assay data.

• Senior technical personnel from the Company (Exploration Manager and Senior Geologist) verified significant intersections.

• Logging and sampling were recorded on digital logging and digital sample sheets. Data validation was completed by geologist on the rig. Information was imported into Empire Metals database after data validation by Empire geologists. Geological consultants were also used for data QAQC.

• Digital data storage is managed by the company at its offices in Perth.

• No adjustments or calibrations have been made to any assay data.

• Two twinned holes were drilled at the Thomas prospect, the original RC holes were twinned with AC holes to determine if the AC would provide equivalent sample integrity and similar grade. The analysis done on the results showed that there was no problem with sample size or integrity and the grade over the length of the same size hole was within 0.5% TiO₂ i.e. 6.5% TiO₂ in original RC hole and 6.1% TiO₂ in twinned AC hole.

• All QAQC samples, blanks, duplicates and CRM's display results within acceptable levels of accuracy and precision.

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.

• Drill hole collar locations drilled between March 2023 and February 2025 were surveyed by Empire geologists using a handheld Garmin GPS with the expected relative accuracy of 4m for easting, northing and elevation coordinates. Drill hole collars from March 2025 were picked up by a licenced surveyor using a digital GPS to an accuracy of 20mm in easting, northing and elevation coordinates. Collar locations are recorded in the Empire Metals database

• The grid system used is GDA94.

• Downhole surveys for all angled RC and diamond holes were completed every 10-30m downhole using a Reflex Ez-GyroN tool after the completion of drilling. Downhole azimuth and dip data is recorded in the Empire Metals database.

• Rock chip sample locations are determined by handheld GPS with and accuracy of approximately 4m.

Data spacing and distribution

• Data spacing for reporting of Exploration Results.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• Whether sample compositing has been applied.

• Drillhole spacing is considered sufficient to establish the degree of geological and grade continuity appropriate for a Mineral Resource estimation.

• Drillhole spacing is mainly in the range 400m x 200m, closer spaced drilling (100m x 100m) was done to test geological continuity and grade variability whilst also generating samples for bulk metallurgy testwork.

• Rock chip sample spacing has been determined solely by geological mapping and no grade continuity is implied.

• Sample compositing has been applied to reported exploration results of diamond drillholes as the sample length of individual samples varies and therefore a weighted average has been used to provide the TiO₂ intercepts for those holes.

Orientation of data in relation to geological structure

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

• Angled drilling has been in 2 orientated directions, initially at 270° as strike of underlying rocks not certain and then orientated perpendicular to the strike of the beds (240°).

• No sampling bias is considered to have been introduced by the existing sampling orientation. The grade continuity of the mineral resource has been demonstrated across every hole that has contained mineralisation.

• The orientation of the drilling is not considered to have introduced sampling bias due to the highly homogeneous nature of the deposit.

Sample security

• The measures taken to ensure sample security.

• Diamond core samples were collected and placed in calico sample bags pre-printed with a unique sample ID at Empire Metals core facility in Three Springs. 5 calico sample bags were placed in a poly weave bags which was cabled tied closed at the top and put in order in the core yard.

• RC samples were collected directly from the drill rig in calico sample bags which are pre-printed with a unique sample number. 5 calico sample bags were placed in a poly weave bag and cabled-tied closed at the top. Poly weave bags were transported back to Empire Metals core facility in Three Springs and stored there in order before transport to Perth.

• AC samples were collected directly from the drill rig in calico sample bags which are pre-printed with a unique sample number. 5 calico sample bags were placed in a poly weave bag and cabled-tied closed at the top. Poly weave bags were transported back to Empire Metals core facility in Three Springs and stored there in order before transport to Perth.

• Rock chip samples were placed in numbered calico bags which were placed in a poly weave bag and cabled tied closed at the top. Poly weave bags were transported back to Empire Metals core facility in Three Springs and stored there in order before transport to Perth.

• Poly weave sample bags were transported to Intertek Minerals, Maddington WA. Samples were shipped using Empire vehicles or using transport haulage from Geraldton or Perth for larger sample dispatches.

• Refinement of the transportation process meant that the polyweave bags were placed into industrial bulka bags which were individually numbered and the samples contained in the bulka bag recorded on the bag for enhanced chain of custody.

• Sample dispatch orders containing the sample numbers, the amount of samples and the method of analysis were generated by Empire geologists and digitally sent to Intertek in Maddington where the samples had been taken.

Audits or reviews

• The results of any audits or reviews of sampling techniques and data.

• No audits or reviews have been conducted in relation to the current drilling program.

Mineral tenement and land tenure status

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

• Exploration Licences E70/5465, E70/5876, E70/6320 and E70/6323 are held in a Joint Venture between Empire Metals Australia Pty Ltd (70%) a wholly owned subsidiary of Empire Metals Ltd and Century Minerals Pty Ltd (30%).

• There are no overriding royalties on the project.

• The project is centred 310km north of Perth and 150km southeast of Geraldton, WA. The tenement area is approximately 1,000km² in area.

• Native flora assessments using the WA Governments Department of Biodiversity, Conservation and Attractions flora database were completed to identify priority flora species that should be avoided when carrying out exploration.

• There are 2 nature reserves within the tenement package totalling 37 km².

• The tenements sit within the Yamatji Southern Corporation determined land area. There are only 2 registered sites within the main areas of interest.

• The tenements are kept in good standing with all regulatory approvals having been met. There are no known impediments to operate in the area

Exploration done by other parties

• Acknowledgment and appraisal of exploration by other parties.

• Between the years 1966-1993 Kennecott, Carpentaria (MIM), BHP and CRA explored for sediment hosted copper deposits in the Pitfield Project area.

• Kennecott (1966) completed surface geochemistry and drilled 10 diamond holes in the vicinity of Baxter's which intersected anomalous copper just outside the Pitfield licence.

• Carpentaria Exploration (MIM) in early 1980's, again focussed their exploration work close the Baxter's mine and adjacent areas towards Arrino, and completed 460 shallow RAB holes over or immediately adjacent to the current Pitfield licence to the SSE of Baxter's. Carpentaria identified maximum copper values exceeding 1000ppm, with a further 44 holes exceeding 500ppm copper. The work defined a clear 2,500m NNW-SSE copper anomalous trend partly on the Pitfield licence and open to the south and east.

• Carpentaria drilled 4 diamond holes which returned strongly anomalous copper including in DH3a, the only hole collared on Pitfield, which returned numerous values exceeding 500ppm up to 1280 ppm Cu with fracture controlled and disseminated native copper and chalcopyrite observed.

• BHP (1984) completed shallow RAB and 4 stratigraphic diamond holes successfully testing the western contact of the Yandanooka basin with basement Mullingarra gneiss. BHP failed to intersect any significant metal anomalism. In addition, BHP completed several lines of IP geophysics over the drilled area.

• CRA (1993) completed soil sampling, auger sampling building on the work of Carpentaria and 2 diamond holes, the southern hole being located on the Pitfield licence recording moderate copper anomalism with a maximum value of 570ppm (4m composite samples of chipped drill core) associated with fracture-controlled malachite and minor native copper. The auger work defined a significant Cu anomaly (plus Ag) over some 7km strike length.

• No other significant exploration happened between 1993 and 2022.

Geology

• Deposit type, geological setting and style of mineralisation.

• This is a globally unique stratabound sediment hosted titanium deposit. The titanium mineralisation is found within the sediments of the Yandanooka Basin which is located about 350km northeast of Perth. The basin margin in the west is the Mullingarra Complex and in the east the Darling Range, it is interpreted to be Neoproterozoic in age.

• The basin fill comprises coarse to fine grained sandstones, conglomerates and interbedded sandstones and siltstones with the basin interpreted to be up to 9km thick. The dominant strike of the beds is 330° with beds dipping 45-65º to the east, field work has not identified any major faulting. However, both airborne magnetics and gravity show strong crustal lineaments in the data.

• The titanium mineralisation is associated predominantly with anatase and rutile in the weathered cap and titanite and rutile in the fresh bedrock. The Ti mineralisation is associated with 3 distinct phases whereby a Ti-rich magma was intruded close to surface and eroded into a shallow basin whereby Ti upgrading happened as the sediments were sorted by a natural density-based segregation. A subsequent hydrothermal event related to regional greenschist metamorphism has altered the host sediments and Ti minerals within the sediments and produced an alteration assemblage dominated by titanite (CaTiSiO₅), hematite, epidote, carbonate and chlorite. The mineralisation was further upgraded by intense weathering altering the titanite to anatase by removal of the Ca and Si.

• The mineralisation is completely stratabound and the best mineralisation is found within the weathered cap whereby the sandstones, siltstone and conglomerates have been altered to saprolite, predominantly quartz and kaolin and the titanite (CaTiSiO₅) has altered to anatase (TiO₂). The weathered bedrock consists of altered rock, but weathering is less intense, quartz and kaolin are predominant but as the weathering profile turns to fresher material there is an increase in chlorite, epidote, mica, hematite and carbonate. The anatase becomes less and the titanite increases.

Drill hole Information

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

  • easting and northing of the drill hole collar

  • elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

  • dip and azimuth of the hole

  • down hole length and interception depth

  • hole length.

• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.