Quarterly Activities Report

Dear Shareholders,

Click on the video above to hear Dr Mike Jones talk on today's Quarterly Activities Report.

Lake Hope, WA (IPT 80%)

• Option exercised to earn an 80% interest in the Lake Hope High Purity Alumina Project by completing a Pre-Feasibility Study (PFS).

• PFS commenced and work required to lodge a Mining Lease Application in the September Quarter.

• A maiden mineral resource estimate of 3.5 million tonnes at 25.1% alumina (Al2O3) for a contained 880,000 tonnes of alumina.

• Scoping study to be released shortly.

• Heritage survey completed with the Ngadju Peoples.

Arkun-Beau, WA (IPT 100%)

• A large Rare Earth Element (REE) soil geochemistry anomaly called Horseshoe, ten kilometres long, up to 2,000 meters wide, and comprising Light and Heavy REE was identified in the NE of the Arkun Project.

• The anomaly, occurs in the contact zone of an intrusion adjacent to a major regional fault, a prime location for REE.

• Further soil surveys are in progress.

• Southwest Western Australia is starting to emerge as an REE Province similar to the Gascoyne and Esperance areas.

• Interpretation of nickel-copper-PGM and lithium soil geochemistry data, HeliTEM and DGPR data are in progress.

Broken Hill, WA (IPT 100%)

• Continuation of fieldwork funded by the BHP Xplor Programme.

• First-ever Sub Audio Magnetics (SAM) and magnetotelluric (MT) ground geophysical surveys in the Broken Hill area completed.

• About 600 rock chip samples, were collected during the Xplor programme and have been submitted for whole rock and trace element geochemistry.

• Funding by the Xplor programme ended on June 30th 2023, and all confidentiality restrictions have been lifted.

• A significant amount of new data has been generated through Xplor, which requires synthesis and interpretation to determine the next steps.

CORPORATE

• $4 million was raised via a Placement at 1.2 cents, including $3 million from Impact’s largest shareholder, a German Family Office.

• $753,000 received from the Research and Development rebate.

• Cash at June 20th 2023, was $4.7 Million.