Maiden Mineral Resource of 880,000 tonnes at Lake Hope

<p class="typography-body-regular">A maiden mineral resource of 3.5 million tonnes at 25.1% alumina (Al2O3) for a contained 880,000 tonnes of alumina has been defined at the Lake Hope HPA Project in WA. 88% of the resource, or about 775,000 tonnes of alumina, is in the higher confidence Indicated Resource category.</p>

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<p class="typography-body-regular">Impact aims to bring Lake Hope into production to deliver high-margin end-products into a rapidly expanding global market with current prices for benchmark 4N HPA (99.99% Al2O3) and related products of about US$20,000 per tonne.</p>

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<p class="typography-body-regular">The unique geological properties of the Lake Hope deposit will allow for a shallow, very low-cost, free-digging operation only one to two metres deep and with offsite metallurgical processing at an established industrial site.</p>

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<p class="typography-body-regular">Previous bench-scale metallurgical test work has produced HPA fromrepresentative lake claysvia a disruptive sulphuric acid hydrometallurgical process likely to be cost-competitive with other producers and developers in Australia and globally.</p>

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<p class="typography-body-regular">The proposed operation will have a small environmental footprint and low carbon emissions.</p>

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<p class="typography-body-regular">Impact will continue to focus its immediate activities on completing the Scoping Study, lodgement of a Mining Lease Application in Q3 2023 and the continuation of a Pre-Feasibility Study, which includes more comprehensive metallurgical test work and baseline environmental studies.</p>

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<p class="typography-body-regular">An initial heritage survey with the Ngadju First Nations group will commence in late June-early July.</p>