Sovereign Metals Advances Kasiya Rutile-Graphite Project with Q4 2023 Reuslts & Optimisation

• Sovereign Metals Limited (ASX:SVM & AIM:SVML) advances project optimisation on its flagship Kasiya rutile-graphite project in Malawi during Q4 2023.
• Key management appointments made, including experienced Africa-based mining executive Frank Eagar as new Managing Director and CEO.
• Upscaled lithium-ion battery graphite program with extraction of 60 tonne bulk sample, coinciding with China's curbs on natural graphite exports.
• Africa-based social specialist consultancy SocialEssence appointed to lead social and community development programs.
• Sovereign aims to become the world's largest, lowest cost and lowest-emissions producer of two critical minerals - titanium (rutile) and graphite.

About Sovereign Metals Limited

Sovereign Metals Limited (ASX:SVM & AIM:SVML) is an emerging mining company focused on developing its flagship Kasiya rutile-graphite project in Malawi. The Company aims to become the world's largest, lowest cost, and lowest-emissions producer of two critical minerals - titanium (rutile) and graphite. Sovereign Metals is committed to responsible mining practices, community engagement, and sustainable development.

Kasiya Project Optimisation

During the December 2023 quarter, Sovereign advanced optimisation test work and technical studies for the Kasiya project in collaboration with strategic investor Rio Tinto. Significant field activities and test work programs have commenced to provide data for the project optimisation phase. The Pre-Feasibility Study (PFS) confirmed Kasiya as a potential major critical minerals project with substantial economic returns and an extremely low CO2 footprint.

Key Management Appointments

Sovereign strengthened its management team with the appointment of Frank Eagar as Managing Director and CEO effective October 20, 2023. Eagar brings over 20 years of experience in financing, permitting, development, and operation of mining projects with a strong focus on southern Africa. The Company also made several key technical appointments to support the transition into project optimisation and development.

Upscaled Lithium-Ion Battery Graphite Program

Sovereign completed the extraction of a 60 tonne bulk sample of ore from Kasiya to produce an initial 600kg of natural flake graphite for lithium-ion battery anode test work and product qualification. The timing of this program coincides with China's announced curbs on natural graphite exports. Downstream test work will involve purification, micronisation, spheronisation, carbon coating, anode production, and electrochemical characterisation. The Company's graphite qualification program positions Kasiya as a potential key source of long-term strategic supply to the US, UK, EU, Japan, and South Korea.

Social & Community Development

Subsequent to the quarter, Sovereign appointed Africa-based specialist social performance consultancy SocialEssence to assist in stakeholder relations, social performance objectives, and its Community and Social Responsibility (CSR) framework. SocialEssence will prepare Kasiya's Social Impact Assessment and Management Plan for the Definitive Feasibility Study (DFS) and permitting, design and implement social performance activities, prove the feasibility of critical social performance measures, and align with the Company's ESG Framework.

Next Steps

Sovereign plans to update the market on the progress of further appointments to the owner's team, results of graphite product development and qualification test work, regional hand-auger drilling on mineralisation extensions, progress on optimisation work streams alongside Rio Tinto, and community and social engagements across Malawi and the Kasiya area.

Conclusion

Sovereign Metals Limited presents a compelling investment opportunity as it advances the world-class Kasiya rutile-graphite project in Malawi. The Company's focus on two critical minerals - titanium (rutile) and graphite - positions it to meet the growing global demand for these essential materials. With a strong management team, strategic partnerships, and a commitment to responsible mining and community development, Sovereign is well-positioned to deliver substantial value to its shareholders. As the Kasiya project progresses through optimisation and feasibility stages, investors can expect significant milestones and potential re-rating of the Company's valuation.