Ann: Outstanding Gabanintha Metallurgical Results, page-2

HIGHLIGHTS

PRODUCT REFINEMENT TESTWORK DELIVERS EXTREMELY HIGH V2O5 PURITY IN EXCESS OF 99.7%.

COMFIRMATION OF SUITABILITY OF PREMIUM PRODUCT FOR SPECIALTY VANADIUM MARKETS.

PRELIMINARY BASE METAL TESTWORK FROM NONMAGNETIC TAILINGS STREAM DELIVERS CONCENTRATE WITH COMBINED BASE METAL CONTENT OF 10% TO 15% WITH NO ADDITIONAL GRINDING.

BASE METAL CLEANER CONCENTRATES CONTAIN UP TO 2.31% COBALT, 4.47% NICKEL AND 9.50% COPPER.

SIGNIFICANT SCOPE FOR OPTIMISATION OF BASE METAL RECOVERY INTO A CONCENTRATE PRODUCT.

DEFINITIVE FEASIBILITY STUDY PROGRESSING WELL AND REMAINS ON TRACK FOR DELIVERY IN JUNE QUARTER 2019.