• Everest Metals and Edith Cowan University awarded $490,500 AEA Ignite Grant to pioneer Australia's first rubidium industry at Mt Edon
• Funds to optimise rubidium extraction and purification from pegmatite ore, advancing Technology Readiness Level from TRL4 to TRL6 over 12 months
• Positions EMC at the forefront of establishing Australia's sovereign rubidium supply, reducing reliance on dominant global supply chains

Everest Metals Corporation Ltd (ASX: EMC) has announced that it has secured $490,500 in grant funding under the Australia's Economic Accelerator (AEA) Ignite Round 2 program, in partnership with Edith Cowan University (ECU). The 12-month initiative, commencing January 2026, will fast-track development of EMC's proprietary Direct Rubidium Extraction (DRE) technology at the Mt Edon Critical Minerals Project in Western Australia. This milestone builds on prior results, including up to 97% rubidium recovery in laboratory testing, and represents a significant step towards establishing a commercial pilot plant and pioneering Australia's first commercial rubidium industry. The funding will advance the Technology Readiness Level from TRL4 to TRL6 through comprehensive single-pass sorbent purification testing, cation removal to enable multi-stage operation, and multi-stage sorbent operation demonstrating a scalable pilot prototype. This AEA Ignite funding builds on EMC's established research and development partnerships and key milestones, including a provisional patent, MRIWA funding, CSIRO collaboration, and a world-class Resource of 3.6Mt @ 0.22% Rb2O. Rubidium is a critical raw material used in various high-tech applications, including defence, aerospace, communications, and emerging energy technologies. Despite the breadth of applications and demand, global production of rubidium is significantly lower than other alkali metals, and the price per kilogram is substantially higher. The Mt Edon project benefits from existing infrastructure access and strategic partnerships, accelerating progress towards commercialisation.

The AEA Ignite grant of $490,500 will be used to advance the Mt Edon Critical Minerals Project over a 12-month period, commencing January 2026.

The AEA Ignite funding will fast-track development of EMC's proprietary Direct Rubidium Extraction technology at the Mt Edon project, positioning the company as a pioneer in establishing Australia's first commercial rubidium industry and reducing reliance on dominant global supply chains.