• Plant design largely complete, finalising operating and capital costs
• Test work on production of purified, spherical graphite almost complete
• Scoping Study contemplates a 1Mtpa mine and processing facility to produce 94% TGC graphite concentrate

Kingsland Minerals Ltd is pleased to provide an update on the Scoping Study for production of graphite concentrate at the Leliyn Graphite Project in the Northern Territory. The Scoping Study, which is considering a mining and processing operation on site at Leliyn, about 250km by road south of Darwin, is well advanced and scheduled for completion in the current September 2025 quarter. Along with the scoping study, test work to produce purified, spherical graphite is also being completed. These two important milestones, with positive outcomes, will progress the Leliyn Project to the next phase of development. The Scoping Study is based on the Mineral Resource estimate of 192.5Mt at 7.3% TGC. The Scoping Study contemplates a 1Mtpa mine and processing facility producing graphite concentrate. Kingsland is taking a cautious, prudent approach to the development of Leliyn, with advanced studies on the downstream processing of Leliyn graphite concentrate only commencing once the economic viability of mining and producing 94% TGC graphite concentrate has been established. The company is working with several leading, experienced technical groups in completing the scoping study. Recent flake graphite pricing has been significantly impacted by Chinese production, with prices nearly halving over the past two years. However, the U.S. has applied significant tariffs on Chinese graphite, which is expected to impact global prices and increase demand for non-Chinese graphite sources like Leliyn.

Kingsland is confident that the development of Leliyn is at an advantageous time to take full advantage in increased demand for graphite products and increasing prices due to the significant tariffs applied by the U.S. on Chinese graphite imports.