2 Impact Minerals Ltd Annual Report 2022 Chairman’s Letter The year to 30th June 2022 saw a significant strategic change in focus for your company from its long standing projects in eastern Australia to a new and significant portfolio of battery, precious and strategic metals projects in the emerging mineral province of south west Western Australia. Exploration during the year has focussed on this new portfolio and in particular on the flagship Arkun-Beau project centred about 200 km south east of Perth and first staked in 2020 following the discovery of the world class Julimar platinum group metal discovery in the region. First pass reconnaissance soil geochemistry surveys at Arkun-Beau have already returned a significant number of anomalies for a range of deposit styles including nickel-copper-PGM hosted by mafic rocks, lithium pegmatites as well as rare earth elements and rubidium. Follow up work will be a prime focus in the coming year and will involve negotiating numerous land access agreements with land owners. Impact also acquired three further 100% owned projects and entered into four joint ventures on very attractive terms during the year bringing the company’s total land position in Western Australia to about 4,000 sq km. Preliminary soil geochemistry traverses on all of the new projects have all returned significant anomalies for the same range of metals as Arkun and this is very encouraging. These projects will also be a focus of work in 2023. First pass drill programmes were also completed at the Hopetoun joint venture located near the mining centre of Ravensthorpe and also the previously acquired Doonia joint venture located 80 km east of Kambalda. Data including assays from these drill programmes are still being interpreted with a view to determining next steps. An integral part of the change in strategic focus has been the rationalisation of Impact’s projects in eastern Australia. As part of this process during the year Impact completed the sale of two tenements which were part of the Commonwealth project to ASX listed company Orange Minerals Limited and agreed to the sale of the Blackridge gold project in Queensland. Subsequent to the year end Impact also agreed to sell 75% of the Commonwealth Project to unlisted company Burrendong Resources Pty Ltd, subject to Burrendong listing on the ASX by mid 2023. Impact was also pleased to announce that IGO Limited, one of Australia’s leading mining and exploration companies, agreed to farm into two tenements which form a small part of the company’s significant Broken Hill project in NSW. IGO can spend up to $18 million over 8 years to earn a 75% interest in the tenements. A significant deep seated EM conductor has been identified and IGO have indicated that this will be drill tested by the end of 2022 if possible. More details on the Company’s activities and projects are set out in the Review of Operations. We are looking forward to an exciting 2023 with maiden drill programmes on a number of our new projects. Peter Unsworth Chairman
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