Private Placement Offer for up to 9.6m shares utilising the company’s existing capacity under Listing Rule 7.1. The placement is to raise up to $2.40m at $0.25 per share, with the ability to take $1m in over-subscriptions in a second tranche placement. All placement allocations will be in tranche 1, except for those who specifically elect to be in tranche 2.

All the directors are participating in the placement for a total of $100k subject to shareholder approval.

The funds raised will be focused towards:

• Expanded field mapping, sampling and testing program.
• Expanded Magnetic and LIDAR survey.
• Bulk sampling, and metallurgical separation testing of the pegmatites across the project.
• Project scale drilling program to test the pegmatites at depth and along strike.

The Niobium and REE tenement package consists of the Juazerinho, Equador, Araxa, Santa, and T1/T2 projects, spanning across 11 granted tenements.

An initial exploration program identified both niobium and tantalum mineralization over a 1.2 km strike, alongside multiple new potential pegmatite targets and unmapped artisanal mines within the tenement area. The artisanal mines are positive indicators of a fertile stacked pegmatite system, allowing the Summit ground crew to access the pegmatites at depth. Notably, historical small-scale mining operations on the tenement area had mined and sold niobium and tantalum to offshore markets.

Further exploration at Equador identified multiple pegmatite outcrops on the eastern side of the ridge, extending a strike of approximately 3 km in length and up to 20 meters wide. These eastern pegmatites are situated on low-lying ground, with ease of access and proximity to existing infrastructure. Significant assay results from pegmatite surface rock chip samples at Equador include:

• 53.07% Nb2O5, 18.32% Ta2O5, and 1956 ppm PREO (SUMSS007)
• 42.08% Nb2O5, 26.07% Ta2O5, and 2780 ppm PREO (SUMSS021)
• 40.88% Nb2O5, 25.27% Ta2O5, and 6367 ppm PREO (SUMSS023)
• 40.86% Nb2O5, 26.58% Ta2O5, and 890 ppm PREO (SUMSS022)

The company has also acquired 14 lithium prospective tenements (both granted and applications) in the northeastern Lithium Belt of Minas Gerais, Brazil. Specifically, these tenements are located in the prolific Jequitinhonha or Lithium Valley (Minas Gerais), where 85% of Brazil’s lithium resources are found.

The lithium tenement package includes the Hercules North and Hercules South projects, which have remained relatively unexplored and possess exceptional geological characteristics.

Numerous artisanal mines exist within and near the tenement boundaries, where large LCT pegmatites have been identified. These pegmatites have produced beryl, aquamarine, and spodumene in economic quantities, as evidenced by local stockpiles from garimperios production.