VHM Metallurgical Results and Drilling Commencement

o Total Heavy Mineral (“THM”) grade of 11.1% in upper mineralised zone of Area 4 (2.8 times higher in THM grade compared to Goschen Project Ore Reserve average THM grade of 4%) o Mineralisation is amenable for processing through the flowsheet proposed for the Goschen Project o High value zircon and titania products, are consistent with previous Area 1 testwork outcomes • Drilling to commence at th