• Maiden Indicated Resource of 12.3Mt at 7.9% TGC for 1Mt of contained graphite
• 97% of Inferred Resource upgraded to Indicated with infill drilling
• Potential to grow Indicated Resource by upgrading more Inferred Resource

Kingsland Minerals Ltd (ASX:KNG) announced a strong maiden Indicated Resource for its Leliyn Graphite Project in the Northern Territory. The Indicated Resource comprises 12.3Mt at 7.9% TGC (Total Graphitic Carbon) for 1Mt of contained graphite. This is an outstanding result, with an extremely high conversion rate of 97% of the previous Inferred Resource upgraded to Indicated through infill drilling. The Indicated Resource will enable Kingsland to complete a scoping study into establishing a graphite mining and processing operation at Leliyn. The results of updated modelling using the infill drilling from 2024 are very encouraging, with the area of the indicated resources having a high conversion rate from the inferred resources within 3% of the contained graphite. This gives the company confidence that future infill drilling will be successful in upgrading the classification of the inferred mineral resource to indicated. Kingsland is taking a prudent approach to the initial development of Leliyn and is not investing funds unnecessarily until it has confidence that it can scale the project up into a large, viable graphite producer. A bulk sample of graphite concentrate is currently being tested by ProGraphite GmbH in Germany for processing into purified spherical graphite, with the results to be incorporated into the upcoming scoping study.

Kingsland is focused on completing a scoping study to assess the viability of a mining and processing operation at Leliyn to produce graphite concentrate, which will then be transported to Darwin for additional processing into purified, spherical graphite.