• Infill drilling assay results from 145 holes received for the Wuudagu C deposit, including high-grade intercepts
• Results consistent with previously reported Wuudagu C Indicated Mineral Resource Estimate
• Metallurgical optimisation test work program underway to refine beneficiation plant design

VBX Limited has received assay results from 145 infill drilling holes at the Wuudagu C bauxite deposit in northern Western Australia. The results include several high-grade intercepts, such as 6m at 44.0% Al2O3 and 7.0% SiO2 from surface, 5m at 42.0% Al2O3 and 6.2% SiO2 from surface, and 4m at 53.8% Al2O3 and 7.9% SiO2 from 1m depth. These results are consistent with the previously reported Wuudagu C Indicated Mineral Resource Estimate of 63.5Mt at 39.8% Al2O3 and 13.5% SiO2. In early 2025, VBX completed a Preliminary Feasibility Study for the Wuudagu C deposit, proposing a surface mining operation to produce an average of 3.5 million tonnes per annum of low-silica bauxite over a 10-year mine life. The study demonstrated attractive economics, with an upfront capital cost of $125 million, a life of mine average all-in sustaining cost of $54 per tonne, and a pre-tax net present value of $821 million.The company is now conducting a metallurgical optimisation test work program to refine the beneficiation plant design as part of the Definitive Feasibility Study for the broader Wuudagu project. This work is being done with input from potential product offtake and funding partners, with whom discussions are progressing.

VBX is targeting an increase in the confidence of the Wuudagu C Indicated Mineral Resource Estimate of 63.5Mt at 39.8% Al2O3 and 13.5% SiO2, which delivered an average beneficiated product grade of 45.4% Al2O3 and 3.6% SiO2 over a 10-year mine life at Wuudagu C in the PFS completed in early 2025.

VBX is focussed on preparing updated resource models for the Wuudagu B, C and CNN plateaus to enable an updated mine plan to be completed for a Definitive Feasibility Study on the broader Wuudagu project. The company is also conducting a metallurgical optimisation test work program to refine the beneficiation plant design as part of the DFS, with input from potential product offtake and funding partners.