#SVML Sovereign Metals PLC – Kasiya Indicated Resource Increased By Over 80%

·     Kasiya Indicated Resource now stands at 1.2 Billion tonnes at 1.0% rutile and 1.5% graphite

·     Updated Mineral Resource Estimate (MRE) moves over 0.5 Billion tonnes from Inferred to Indicated – an increase of 81% to the Indicated category

·     Over 66% of total MRE now in the Indicated category

·     Kasiya’s global MRE over 1.8 Billion tonnes at 1.0% rutile and 1.4% graphite

·     Kasiya remains the world’s largest natural rutile deposit and second largest flake graphite deposit

·     Updated MRE to underpin the mining inventory and mine plan for the forthcoming Pre-feasibility Study (PFS)

Sovereign’s Managing Director Dr Julian Stephens commented: “The increase of over 80% in the Indicated component at a one-for-one conversion from Inferred is an outstanding outcome. The conversion rate confirms the very consistent geological and grade continuity and is testament to the high-quality and robustness of the deposit. Kasiya is poised to become a major long-term supplier of the critical minerals natural rutile and graphite, with both forecast to be in near-term and significant supply deficit. The PFS work program on this highly strategic and globally significant project is progressing well and approaching its final stages. The Company is looking forward to presenting the outcomes of the PFS in the coming months.”

ENQUIRIES

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