Extension to Rutile Mineralisation at Kasiya

- 0.4km Drill Programme at Kasiya outside JORC (2012) MRE Area:

- 70+ hole target area up to 20km North of MRE boundary

- 4 hand-auger drilling teams deployed

- Drilling to be completed in coming weeks

- Followed by processing at Company’s Lilongew lab facility

Bulk Sampling

- 1st 30 tonnes bulk sample shipped:

- From Kasiya Rutile-Graphite Project in Malawi

- To Paterson & Cooke Cape Town, South Africa

- Representative of the ore to be mined over the initial 10 years of production

Lab Testing at Peterson & Cooke

- P&C is a global leader in mining systems, tailings and waste handling

- Advanced bulk laboratory-scale test work to commence

- Data to optimise technical elements of PFS including:

- Larger scale pumping

- Tailings characteristics

- Dewatering

- Conservation Farming Program in Malawi

Includes techniques:

- Minimum soil disturbance, such as no-till farming

- Maintenance of a permanent soil cover, such as cover crops or crop residues

- Diversification of plant species, such as crop rotation

Part of SVML‘s ESG Strategy

- Conservation Farming Program in Malawi:

- Training local farmers in sustainable techniques

- Supporting local communities to address their social priorities

- Program has tripled crop yields in a season that is predicted have 20% lower yields due to El Niño weather

Market Intelligence

- Commercialising the World’s largest rutile resource

- PFS post tax NPV8 of $1.6Bn

- Rio Tinto Strategic investor at 15%

- Cash & Equiv. of $39.4m (1H24)

- Technical committee comprises 3 SVML employees and 3 Rio Tinto employees