Sovereign Metals Completes Resource Drilling Program & Key Infrastructure Upgrades Advancing World's Largest Rutile Project

• Sovereign Metals has successfully installed and commissioned an industrial-scale spiral concentrator plant at its Lilongwe facility in Malawi, marking a significant step in its development pathway.
• The company has completed a comprehensive infill drilling program designed to upgrade the Kasiya project's Mineral Resource Estimate and convert Ore Reserves from Probable to Proven category.
• The new spiral plant enables processing of up to 3 tonnes per hour and will facilitate ongoing testwork and offtake discussions with lithium-ion battery makers and traditional graphite markets.
• Recent downstream testwork has demonstrated that Kasiya's Coated Spherical Purified Graphite (CSPG) shows performance characteristics comparable to leading Chinese natural graphite anode materials manufacturers.
• The company is strategically positioned to become the world's largest and lowest-cost producer of rutile for the titanium industry and flake graphite for the lithium-ion battery market.

Sovereign Metals Limited (ASX:SVM) is an emerging force in the critical minerals sector, developing its flagship Kasiya Rutile-Graphite Project in Malawi. The project represents the world's largest rutile deposit and second-largest flake graphite deposit, positioning the company at the forefront of sustainable critical minerals production. With a focus on both the titanium industry and the rapidly growing lithium-ion battery market, Sovereign Metals is advancing its development pathway through strategic partnerships and technical innovation.

Infrastructure Advancement Marks Key Milestone

In a significant step forward, Sovereign Metals has successfully installed and commissioned an industrial-scale spiral concentrator plant at its laboratory and testing facility in Lilongwe, Malawi. This new infrastructure enables the company to process material from the test pit mined during the Pilot Mining and Land Rehabilitation Phase at the Kasiya project. The plant's capability to process up to 3 tonnes per hour for continuous sample preparation represents a crucial advancement in the project's development timeline.

The spiral plant installation is particularly noteworthy as it mirrors the exact model selected for the Wet Concentrator Plant (WCP) in the company's 2023 pre-feasibility study (PFS) process flowsheet. This alignment ensures that the testing and optimisation work conducted will directly translate to full-scale operations.

Resource Upgrade Program Completion

Sovereign Metals has achieved another significant milestone with the completion of its infill drilling program at Kasiya. The comprehensive program included:

• 281 aircore holes totalling 5,607 meters
• 309 hand auger holes covering 1,280 meters
• 30 push tube and diamond core holes spanning 663 meters

The drilling campaign focused on the southern part of Kasiya, specifically targeting areas designated for the first eight years of production. This strategic focus aims to upgrade the current Mineral Resource Estimate from Indicated to Measured category under the JORC (2012) Code, while simultaneously converting Ore Reserves from Probable to Proven status.

Processing Innovation & Market Positioning

The company's processing strategy is divided into three distinct areas:

Wet Concentrator Plant (WCP):

• Pre-screened material (2mm) undergoes simple gravity separation
• Produces Heavy Mineral Concentrate (HMC)
• Generates separate gravity tailings stream enriched in graphite

Mineral Separation Plant (MSP):

• Utilises electrostatic separation for mineral classification
• Recently installed CoronaStat Electric Separator
• Implements magnetic separation to isolate non-magnetic rutile

Graphite Plant:

• Processes gravity tailings through froth flotation
• Incorporates polishing and stirred media mills
• Produces coarse-flake graphite concentrate

Battery Market Integration

Recent developments have strengthened Sovereign Metals' position in the battery materials market. Downstream testwork by a leading independent consultancy has confirmed that the company's Coated Spherical Purified Graphite (CSPG) demonstrates performance characteristics comparable to leading Chinese natural graphite anode materials manufacturers. This validation opens significant opportunities in the rapidly growing electric vehicle and energy storage markets.

The company is also actively pursuing opportunities in traditional industrial graphite applications, including:

• Refractories
• Foundries
• Expandable graphite
• Graphite foil
• Brake lining pads
• Lubrication products

Project Timeline & Future Outlook

With the completion of the infill drilling program, all samples are now being analysed at offsite laboratories in South Africa and Australia for both rutile and graphite content. Results and the subsequent Resource upgrade are anticipated in early 2025, marking a crucial milestone in the project's development timeline.

The technical aspects of the project continue to advance under the oversight of the Sovereign-Rio Tinto Technical Committee, ensuring world-class expertise guides the development process. The company's PFS optimisation work is progressing as planned, with a focus on refining the project's already robust economics.

Conclusion

Sovereign Metals presents a compelling investment opportunity in the critical minerals sector. The company's Kasiya project offers exposure to both the established titanium industry through rutile production and the rapidly growing electric vehicle battery market through its graphite component. Recent milestones, including the successful commissioning of the spiral plant and completion of the resource upgrade drilling program, demonstrate steady progress toward production.

Key investment considerations include:

• World-class asset scale (largest rutile deposit globally)
• Dual commodity exposure (rutile and graphite)
• Strategic positioning in critical minerals supply chains
• Technical validation through partnership with Rio Tinto
• Clear development pathway with major milestones achieved
• Strong environmental credentials through natural mineral processing

With results from the infill drilling program expected in early 2025 and ongoing optimization work, investors can anticipate regular news flow and continued project de-risking. The company's focus on becoming the world's largest and lowest-cost producer of rutile, combined with its significant graphite by-product potential, positions it uniquely in the global critical minerals landscape.