• Revised Mineral Resource Estimate to emphasize high-grade platinum opportunity
• Re-sampling campaign planned to quantify rhodium potential
• Engineering assessment of Savannah Plant to assess potential cost savings
• Exploration activities within the Alice Downs Corridor identify new target areas

Future Metals NL has completed a strategic planning program that has identified further enhancements to its primary asset, the Panton PGM Project, a refreshed exploration program for the highly prospective Alice Downs Corridor tenements, a regional review, and plans for updates to the management team. The work defined for the Panton PGM Project will consist of a revised Mineral Resource Estimate to emphasize the high-grade platinum opportunity, a re-sampling campaign to quantify the rhodium potential, and an engineering assessment of the Savannah Plant to assess potential cost savings. Exploration activities within the Alice Downs Corridor have identified new target areas that will form the basis for the proposed exploration program. The Company is also expanding its management team to support the initiatives identified as part of the strategic assessment, with the appointment of a new Exploration Manager and a senior executive to provide geological support.

The Spot Basket Price (PGM4E) for the Panton PGM Project has increased from US$1,556 (Base Case in Scoping Study) to US$2,100 based on current PGM pricing, representing a 35% increase in revenue streams. This is expected to significantly improve the project economics.