• Killi acquires Lodestone Iron Ore Project in WA
• Project has inferred resource of 110Mt at 33% mass recovery
• Potential for significant resource growth and high-purity magnetite concentrate
• Acquisition funded by $15m share placement
• Hamish Halliday joins board as Non-Executive Director

Killi Resources has acquired the Lodestone Iron Ore Project in Western Australia's Midwest region. The project is located approximately 200 km from the Port of Geraldton, adjacent to grid power and a road and rail network leading directly to the port. The project has an inferred resource of 110 million tonnes at 33% mass recovery, grading 69% Fe in concentrate. The current resource covers about 20% of the known magnetite mineralization, indicating potential for significant resource growth. The Lodestone magnetite body is coarse crystalline, allowing for a cheaper processing route compared to other nearby magnetite operations. The acquisition is funded by a $15 million share placement, giving Killi a strong cash position of approximately $18.5 million. Hamish Halliday, a geologist with extensive experience, has joined the Killi board as a Non-Executive Director.

Killi expects to grow the resource by drilling out the 25km-long system with rolling campaigns.

Killi aims to capitalize on the high-purity, high-value, direct reduction magnetite market, driven by the shift to green steel.