NSW Critical Minerals Royalty Deferral Scheme Acceptance

• Sunrise Energy Metals accepted into the NSW Critical Minerals Royalty Deferral Scheme
• Scheme allows deferral of mining royalties for up to five years
• Syerston Scandium Project recognized as a strategic project by the US-Australia partnership

Sunrise Energy Metals Limited has been accepted into the New South Wales Critical Minerals Royalty Deferral Scheme for its Syerston Scandium Project. This scheme allows eligible companies to defer royalty payments for up to five years, aiding early-stage projects. The Syerston Project, one of the few significant sources of scalable scandium supply, is crucial for next-generation technologies. The project's acceptance follows recognition from the US-Australia critical minerals partnership and a letter of interest from the U.S. Export-Import Bank for US$67 million in debt financing.

The acceptance into the NSW royalty deferral scheme and the project's strategic importance are expected to support the project's development and supply chain benefits.