ASTRON LIMITED — Capital/Financing Update 2019

Jul 7, 2019

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8 July 2019

Astron commences significant piloting works for its Donald Project

Astron Corporation Limited (ASX:ATR) (“Astron” or “Company”) has commenced piloting of the Donald Project Ore Materials.

Astron has recently advanced its definitive trials of the Donald Mineral Sands ore material in southern Queensland. Two separate engineering and metallurgical firms were engaged to conduct these works. Conventional and latest technology testing forms part of the three (3) stage piloting program which commenced recently.

The engagement scope was developed to complete two stages in Australia consisting of equipment and final product definition and secondly a larger program with a purpose-built 10 tonne per hour pilot plant for bulk separation, which is currently under construction to produce bulk Heavy Mineral Concentrate (HMC) for stage three (3).

Astron anticipates the development and execution of the piloting programs will give greater depth to the detail of final product specification. In addition, it is anticipated that areas are being identified where these products will complement the recent commissioning of the China based Ti02 separation plant and the related marketing strategies in the near future.

Stage three (3) of the piloting program will be developed and advanced at Astron’s laboratory and operating facility in China utilising the bulk final products from the present pilot works in Australia.

This is a significant step in rebuilding Astron as a major advanced material product company where these pilot programs are ultimately planned to be a significant stage in progressing the definitive phases of the Donald project in Australia.

Gravity Separator - Rougher Concentrate

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Registered Office: 31[st] Floor, 148 Electric Road, North Point, Hong Kong

www.astronlimited.com

Thickener and Primary feed – Test scale prior to bulk scope.

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Astron Corporation Limited

For further information, please contact:

Kang Rong, Executive Director +61 3 5385 7088

About Astron

Astron’s main focus is developing its two wholly owned mineral sands projects, the Donald Project in Australia and the Niafarang project in Senegal.

The Donald project is one of the largest known zircon and titanium resources in the world. The project has significant potential for long term supply into global markets with its final products while creating sustainable growth and regional development in Victoria Australia.

The Niafarang project in Senegal, West Africa, is a high-grade coastal mineral sands deposit, to be exploited using simple dredge mining and processing methodology.

Astron continues to build on its unique 25 year track record in China as a Chinese-Australian company in developing, selling and marketing zirconium and titanium products.

CAUTIONARY STATEMENT

Certain sections of this document contain forward looking statements that are subject to risk factors associated with, among others, the economic and business circumstances occurring from time to time in the countries and sectors in which the Astron group operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a wide range of variables which could cause results to differ materially from those currently projected.