• Lodgement of Mining Right Conversion Application with South African DMPR
• Application supported by metallurgical testwork and economic assessment
• Proposed initial development as a scalable proof-of-concept
• Potential for future throughput expansion and integration of additional mineralisation
• Garies located in a region attracting strategic investment interest

MRG Metals Limited (ASX: MRQ) has formally lodged a Mining Right (Mining Lease) Conversion Application for the Garies Rare Earth Project in South Africa with the South African Department of Mineral and Petroleum Resources (DMPR). This application represents a major advancement milestone for the Garies Project. The application is supported by metallurgical testwork and an economic assessment that meets DMPR requirements. The proposed initial mining development represents a potential scalable proof-of-concept and initial development platform for the broader Garies rare earth district. The initial processing plant design allows for potential throughput expansion beyond the currently known DrillTarg target. Future mineralisation from additional target zones may potentially be trucked to a centralised processing facility, subject to future exploration success and technical studies. The proposed modular processing strategy provides flexibility for potential future throughput expansion as additional technical studies and exploration programs are completed.

The Company believes Garies has the potential to evolve into a strategic rare earth development project through continued drilling, technical advancement and staged development assessment.