Announcement PDF 28 May 2025 ASX: CRI CRITICA COMMENCES BULK METALLURGICAL TESTWORK The Board of Critica Limited (Critica or the Company) is pleased to advise that following on from successful initial beneficiation work that achieved a better than 9x Rare Earth Element (REE) upgrade1, the Company has dispatched a 400 kg bulk sample from the Jupiter Deposit to the Centre of Science and Technology of Minerals and Environment (CSTME), Vietnam. CSTME will use the bulk sample to refine the beneficiation processes and produce material for initial leach test work. Critica is also pleased to announce that it continues to receive support from Curtin University’s Resources Technology and Critical Minerals Trailblazer program. Under this scheme, the Company will be submitting a second bulk sample to the WA School of Mines (Curtin University) to produce additional beneficiated material for future leach test work. Critica highlights that the Jupiter Deposit includes over 280,000 tonnes of contained Heavy Rare Earth Elements (refer Table 1) and the Company is committed to work focussing on the key HREE zones. The realisation of a 64 % Iron by-product (refer Table 3) via Wet Low Intensity Magnetic Separation (as part of the REE beneficiation process in CSTME’s initial test work) also demonstrates the potential for by-product opportuntities from Jupiter. Critica will continue to assess and refine these opportunities as part of the REE bulk sample test programs. Table 1: Heavy Rare Earths in Jupiter Inferred Resource subject to China’s new export control laws. JUPITER GLOBAL INFERRED RESOURCE JUPITER HIGH GRADE RESOURCE (included) 1.782 BT @ 1651 ppm TREO 520 MT @ 2169 ppm TREO (1,000 ppm cutoff) (1,800 ppm cutoff) Samarium (Sm2O3) Tonnes 73,062 Tonnes 27,560 Gadolinium (Gd2O3) 44,550 16,120 Terbium (Tb4O7) 5,346 2,080 Dysprosium (Dy2O3) 24,948 9,360 Lutetium (Lu2O3) 1,782 520 Yttrium (Y2O3) 131,868 46,800 RESTRICTED RARE EARTHS Included in Jupiter Resource Refer to ASX Announcement 11 February 2025 for full details of resource. Individual REE tonnes are calculated (Tonnage x Grade). The rare earth export controls were announced in early April 2025 by China as a response to the US tariff trade war, with new controls targeting seven REE’s including the Heavy Rare Earths which Jupiter contains. The Company looks forward to providing further updates as metallurgical test work advances on its flagship 1.8 billion tonne2 Jupiter Deposit. Jupiter is already Australia’s largest and highest grade clay hosted Rare Earth deposit and is expected to see further resource growth as reconnaissance drilling tests numerous satellite targets within the province-scale Brothers REE Project. 1 Refer to ASX Announcement 23 January 2025 2 Refer to Table 1 and ASX Announcement 11 February 2025 CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 1 28 May 2025 ASX: CRI Authorised by the Board of Critica Limited. Stuart Owen Interim CEO JOIN CRITICA’S INTERACTIVE INVESTOR HUB Visit Critica Limited’s InvestorHub to sign up and engage with the Team CONTACT US Critica Limited Level 2, 16 Altona Street, West Perth, Western Australia T: + 61 8 6279 9428 | admin@critica.limited | www.critica.limited CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 2 28 May 2025 ASX: CRI Figure 1 | Jupiter Deposit and Brothers REE Project location map CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 3 28 May 2025 ASX: CRI Figure 2 | Jupiter Deposit and satellite clay-hosted REE targets within the Brothers Project CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 4 28 May 2025 ASX: CRI ABOUT CRITICA Project Overview • the Jupiter deposit is situated in Yalgoo, Western Australia, approximately 250 km east of Geraldton and accessible by sealed road. • The initial discovery was announced in late 2023, and comprises of clay-hosted rare earth mineralisation. • In February 2025, Critica announced a global inferred resource of 1.8 BT at 1,700 ppm, including 520 MT at 2,200 ppm Total Rare Earth Oxides. Jupiter is currently Australia’s largest and highest-grade clay-hosted Rare Earth deposit. • The Jupiter deposit contains 682 kilotonnes (kt) of Magnet Rare Earth Oxides (MREO) within the global resource. • The deposit contains low levels of Thorium and Uranium. . Strategic Advantages • Infrastructure: The project benefits from existing mining precinct infrastructure, including proximity to the Geraldton-Mount Magnet highway and the mid-west gas pipeline. • Accessibility: The flat-lying terrain and pastoral leases ensure year-round access. • Nearby Facilities: The project is close to rare earth processing facilities, such as Lynas Rare Earths' concentrator at Mount Weld and Iluka Resources' planned facility at Eneabba. COMPETENT PERSONS STATEMENT – EXPLORATION RESULTS The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Dr. Stuart Owen who is a Member of the Australian Institute of Geoscientists. Dr. Owen is a permanent employee of Critica Limited and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Owen consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. The Information in this announcement that relates to previous exploration results for the Projects is extracted from the following ASX announcements: • • • • • • • • • • • • • • • • • • • • • Drill Targets Restricted Heavy REE at Satellite Prospects – 5 May 2025 First Pass Metallurgical Testwork Delivers 830% REE Upgrade – 23 January 2025 Jupiter Project Update – 19 December 2024 Excellent High-Grade Continuity at Jupiter and Mineral Resource Estimate Underway – 27 November 2024 Best Intersection – 67m @ 3,074ppm TREO from Latest Jupiter Drilling – 6 November 2024 Multiple Rare Earth Discoveries Near Jupiter – 17 October 2024 New Rare Earth Discovery Jupiter Satellite – 17 September 2024 Another Record Drilling Result – 57m @ 3,430ppm TREO – 17 July 2024 Best Drill Intersection to date – 58m @ 2,723ppm TREO – 17 June 2024 8m @ 5,716ppm TREO- Jupiter Drilling Continues to Outperform – 5 June 2024 Drilling Delivers More Record REE Intersections at Jupiter – 23 May 2024 Jupiter-more outstanding REE hits up to 60 m over 2000 ppm – 16 April 2024 Strategic Acquisition Adjacent to Jupiter REE Discovery – 22 March 2024 300 Drillhole Program Commences at Jupiter – 15 March 2024 Jupiter Continues to Deliver with Record NdPr over 5,000 ppm – 8 March 2024 Jupiter delivers record drill hit of 48 m @ 3,025 ppm TREO – 9 February 2024 Jupiter Delivers over 7,000 ppm TREO from Maiden RC Drilling – 29 November 2023 Massive new REE Target at Brothers with up to 3,969 ppm TREO – 9 November 2023 VMS makes High Grade clay hosted REE discover at Brothers – 1 August 2023 Venture set to drill at the Iron Duke High Grade REE Project –18 May 2023 JV into Neighbouring REE project with 49m @ 1313ppm TREO – 9 May 2023 CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 5 28 May 2025 ASX: CRI ESTIMATION AND REPORTING OF MINERAL RESOURCES – JUPITER PROJECT No new Mineral Resource information is contained in this report. Information in this report which refers to Mineral Resources for the Jupiter Project in Western Australia is taken from the company’s initial ASX disclosure dated 11 February 2025 “Jupiter Maiden Resource: Australia’s Largest and Highest Grade Clay Hosted Rare Earth Resource”, found at www.critica.limited. The disclosure fairly represents information compiled by Mr Rodney Brown a Member of Australian Institute of Mining and Metallurgy and is an employee of SRK Consulting (Australia) Pty Ltd, independent of Critica Limited and has no conflict of interest. The Company confirms that all material assumptions and technical parameters underpinning the Mineral Resources Estimates referred to within previous ASX announcements remain current and have not materially changed since last reported. The Company is not aware of any new information or data that materially affects the information included in this announcement. The Company confirms that the form and context in which the Competent Person's findings are or were presented have not been materially modified. Notes: 1.TREO represents the sum of 14 Rare Earth Elements excluding Promethium plus Yttrium expressed as oxides. 2.MREO represents the sum of the Neodymium, Praseodymium, Dysprosium and Terbium expressed as oxide Glossary RE – Rare Earth(s) REE – Rare Earth Elements TREO – Total Rare Earth Oxides including yttrium MREO – Magnet Rare Earth Oxides CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 6 ASX: CRI APPENDIX A – JORC CODE (2012 EDITION) TABLE Table 2 | Jupiter Inferred Mineral Resource Estimate – ASX Announcement 11 February 2025 Cut-off Tonnage TREO MREO La2O3 CeO2 Pr6O11 Nd2O3 Sm2O3 Eu2O3 Gd2O3 Tb4O7 Dy2O3 Ho2O3 Er2O3 Tm2O3 Yb2O3 Lu2O3 Y2O3 TREO (ppm) (Bt) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) 1,000 1.78 1,651 383 342 762 81 284 41 9 25 3 14 2 6 1 5 1 74 1,800 0.52 2,169 499 444 1,023 106 371 53 11 31 4 18 3 8 1 6 1 90 Based on 1,000 ppm and 1,800 ppm TREO lower cut-off grades Table 3 | Jupiter 800 gauss magnetic concentrate by-product of CTSME REE beneficiation test work - ASX Announcement 23 February 2025 Fe % Al2O3 % SiO2 % CaO % K2O % 64.2 1.1 3 0.5 0.2 MgO % MnO % TiO2 % P% 0.2 0.1 0.8 0.1 S% <0.1 CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 7 ASX: CRI APPENDIX ONE: JORC CODE, 2012 EDITION | ‘TABLE 1’ REPORT Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections) Criteria JORC Code explanation Commentary Table Sampling techniques • Nature and quality of sampling (e.g.: cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g.: ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g.: submarine nodules) may warrant disclosure of detailed information. Drill type (e.g.: core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc..) and details (e.g.: core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc..). • Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. The total length and percentage of the relevant intersections logged. If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all subsampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. • The bulk AC samples were visually assessed, weighed and considered representative with overall good recovery. • All holes were qualitatively geologically logged by suitably qualified Critica geologists. Mineral Resources have not been estimated. The detail of geological logging is considered sufficient for exploration and resource definition drilling. • • Drilling techniques Drill sample recovery • • • • Logging • • • Sub-sampling techniques and sample preparation • • • • • • • • • • • • The Jupiter metallurgical composite tested by GAVAQ, Centre of Science and Technology of Minerals and Environment was selected from the seven (7) AC exploration and resource definition drill holes listed in Section 2 below. The selected intervals represent iron-rich clay and saprolite zones, grades as previously announced to the ASX. Sampling was supervised by a suitably qualified Critica geologist. This metallurgical composite sample subject of this report was selected from seven (7) AC holes drilled with a KL 150 AC rig operated by KTE Mining Services Pty Ltd. The AC drilling was conducted with a 90mm blade and holes were drilled to blade refusal in near fresh rock. • The metallurgical composite covered 58 m from the 7 listed drill holes • Composited intervals within each drill hole ranged from 2 to 20 m and were collected by sampling spear from the bulk 1 m sample bags, then homogenized by mat rolling, bagged and weighed for supply to GAVAQ. Total composite weight was c. 51 kg • CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 8 ASX: CRI Criteria JORC Code explanation Commentary Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. • Assaying of the metallurgical composite and products was conducted by GAVAQ and the Vietnam National Institute of Mining – Metallurgy Science and Technology (VIMLUKI). The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. • The use of twinned holes is not applicable at this stage. The metallurgical results are compatible with observed mineralogy. Primary data is stored and documented in industry standard ways. Critica assay and metallurgical data is as reported by GAVAQ and has not been adjusted in any way. Drill hole locations were determined by handheld GPS with a nominal accuracy of +/- 5 metres. All coordinates and maps presented here are in the MGA Zone 50 GDA94 system. Topographic control is provided by Worldwide 3 arc second SRTM spot height data. Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. The measures taken to ensure sample security. • The drill holes selected for the GAVAQ metallurgical composite were part of Jupiter exploration and resource definition programs as previously reported to the ASX. • The AC holes were drilled vertically along E-W drill lines The intersected clay and saprolite zones blanket weathered syenite-monzonite basement such that downhole thickness approximates true thickness. • The chain of custody for the metallurgical composite from collection to submission to GAVAQ was managed by Critica personnel. and the level of security is considered appropriate. The results of any audits or reviews of sampling techniques and data. • The GAVAQ test work was monitored and reviewed by suitably qualified Critica Limited’s Senior Metallurgist Dr Dinh Hien. • • Verification of sampling and assaying • • • • Location of data points • • • Data spacing and distribution Orientation of data in relation to geological structure • • • • • Sample security • Audits or reviews • • • • • • • CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 9 ASX: CRI Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status • • The Brothers REE Project currently consists of granted Exploration Licences E59/2421, E59/2463, E59/2710, E59/2711, E59/2819, E59/2820, E59/2821, E59/2827, E59/2889, E59/2890, E59/2907, E59/2927, E59/2928, E59/2930, and applications E59/2929 and E21/232. All are 100% held by Tasmanian Rare Earth Pty Ltd a wholly owned subsidiary of Critica Limited. • Documented previous explorers within the area now covered by the Brothers Project include North Flinders Mines Ltd, CRA Exploration Pty Ltd, Spark Energy Pty Ltd, Arcadia Minerals Ltd, Babalya Gold Pty Ltd, Burmine Ltd, Equigold NL, Equinox Resources NL, Jervois Mining Ltd, Minjar Gold Pty Ltd, Mount Magnet South NL, Sons of Gwalia Ltd and David Ross. Refer to previous Critica announcements to the ASX and also available from http://critica.limited • Exploration done by other parties • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. Acknowledgment and appraisal of exploration by other parties. • Geology • Deposit type, geological setting and style of mineralisation. • Drill hole Information • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: -easting and northing of the drill hole collar -elevation or RL of the drill hole collar -dip and azimuth of the hole -down hole length and interception depth -hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. • • Hole BRAC076 BRAC082 BRAC091 BRAC063 BRAC064 BRAC083 BRAC159 • • • • Data aggregation methods • • • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values The Brothers REE exploration area is situated within the Western Australian Archean Yilgarn Craton and mostly comprises Cenozoic cover sequence overlying an extensive Archaean monzogranite complex (the Big Bell Suite). Locations and composited intervals for the GAVAQ metallurgical composite are as listed below: • • • East MGA Zone 50 GDA94 530244 530247 530253 529494 529000 529745 528749 North MGA Zone 50 GDA94 6856602 6856107 6855601 6854087 6855102 6856102 6850601 Interval 12-16m 8-28m 16-24m 40-44m 42-44m 4-16m 48-56m All holes were vertical and collar location was determined by handheld Garmin GPS64sx considered accurate to ±5m. All coordinates and maps presented here are in the MGA Zone 50 GDA94 system. Topographic control is provided by Worldwide 3 arc second SRTM spot height data. Refer to previous ASX announcements for relevant intersections and assay results. Metal equivalents have not been applied. Refer to previous ASX announcements for relevant Jupiter project intersections and assay results. Standard element to oxide conversion factors have been used and TREO was calculated on an unrounded basis. CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 10 ASX: CRI Criteria Relationship between mineralisation widths and intercept lengths JORC Code explanation should be clearly stated. • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). Diagrams • Balanced reporting • Other substantive exploration data • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Commentary • The intersected clay and saprolite zones blanket weathered granitoid basement such that downhole thickness approximate true thickness. • Appropriate project location maps are included in this release. • Refer to previous ASX announcements for relevant Jupiter project intersections and assay results. • GAVAQ Solution Metallurgical Equipment and Technology Consulting Joint Stock Company, Hanoi, Vietnam was engaged by Critica Limited to undertake beneficiation test work on a c. 51 kg composite of Jupiter clay-hosted REE mineralization as selected by Critica Limited geometallurgist. The head grade of the composite sample as supplied and determined by GAVAQ was 0.143% TREO. GAVAQ conducted particle size analysis, multi-element geochemistry, XRD mineralogy, and gravity and magnetic separation work to identify potential process flowsheets. The process flowsheet used to produce the results reported here comprised grinding to 100% passing 0.2 mm, scrubbing (attrition), then low intensity (800 gauss) magnetic separation to remove the magnetic iron minerals (mainly hematite and magnetite. The nonmagnetic fraction was then subject to an open circuit flotation test using combined carboxylate and amine collector, sodium silicate depressant and dextrin dispersant at pH 8.5 and ambient temperatures. Open circuit flotation concentrate 1 returned 1.8 % TREO, 97% mass reduction and 41% recovery from a feed grade of 1,430 ppm TREO. Open circuit flotation combined concentrates 1 and 2 returned 1.3 % TREO, 95 % mass reduction and 51 % recovery from a feed grade of 1.430 ppm TREO. XRD shows hydrated phosphates including fluorapatite/rhabdophane and gorceixite to be the main REE phases, and magnetite and hematite the main magnetic iron phases • • • • • • Fraction Further work • The nature and scale of planned • • Mass % TREO % TREO Mass Recovery % Fe % Fe mass recovery % 800gauss magnetic fraction 7.52 0.012 0.63 64.18 34.95 float concentrate 1 3.33 1.755 40.87 5.82 1.4 float concentrate 2 2.14 0.672 10.05 - - Middle 9.39 0.166 10.9 - - Tailings 77.61 0.069 37.54 - - TOTAL 100 0.143 100 - Critica is currently conducting ongoing mineralogy and metallurgical CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 11 ASX: CRI Criteria JORC Code explanation • further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Commentary test work, including upgrading of REEs via physical rejection of quartz, feldspar and iron oxides (including potential by-products), other flotation collectors and conditions, closed circuit flotation, and leach testing. CRITICA LIMITED Level 2, 16 Altona Street, West Perth, Western Australia ABN 51 119 678 385 | T: +61 8 6279 9428 | F: +61 8 6500 9986 | admin@critica.limited | www.critica.limited 12