GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2021

Aug 25, 2021

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26 August 2021
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ASX ANNOUNCEMENT

Suvo Achieves 99.99% (4N) from High Purity Alumina (HPA) Test Work

SUVO STRATEGIC

MINERALS LIMITED

ABN: 97 140 316 463

Highlights

• Preliminary HPA test work from Suvo’s White Cloud Resource achieved a purity of 99.992%

• Testing was conducted by world renowned Beijing General Research Institute of Mining and Metallurgy (BGRIMM) laboratories in China

• Additional test work will now be conducted to work towards achieving 5N (99.999%) purity HPA

• Higher grade feed stock (>38% Al2O3) and low impurities offer significant advantages for the production of HPA

• Current estimates of global pricing for HPA ranges between ~USD$15,000 to ~USD$30,000 per tonne for 4N and ~USD$40,000 to ~USD$50,000 per tonne for 5N product

• Suvo will now investigate commissioning a pilot plant, evaluate new addressable markets and offtake partners through their Research and Development subsidiary Suvo Minerals Technology.

CORPORATE DETAILS: ASX: SUV

DIRECTORS:

Robert Martin Executive Chairman

Aaron Banks Executive Director

Dr Ian Wilson

Non-Executive Director

CONTACT DETAILS:

Level 9

182 St Georges Terrace Perth, Western Australia 6000

P +61 (8) 9389 4495 E info@suvo.com.au W www.suvo.com.au

Australian kaolin producer and silica sand exploration company, Suvo Strategic Minerals Limited (‘Suvo or the Company’), is pleased to announce the results of its first high purity alumina (“HPA”) test work program conducted by the Beijing General Research Institute of Mining and Metallurgy (BGRIMM) in China on samples produced from White Cloud ore. Suvo have the competitive advantage of a very pure source of kaolin with very high levels of Al2O3 to use as a feed stock for HPA production from its resource at White Cloud. The Company now plans to accelerate test work to determine if 5N (99.999%) HPA purity can be achieved.

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Commenting on the results, Suvo’s Executive Chairman, Robert Martin said “This is truly an outstanding result. Partnering with one of the world leaders in R&D for HPA, BGRIMM, has placed our company in a fantastic position to potentially enter this exciting new space. With the global demand for HPA powder increasing rapidly due to its use as a key input to lithium-ion battery separators we see achieving 4N purity as a huge milestone for the Company and the first step in reaching our goal of 5N purity. The test work highlights the advantages we have by starting with extremely high grade feedstocks and we now look forward to updating the market as we complete testing on 5N purity, address prospective raw feedstock partners and finalise investigations into a potential pilot plant ”.

White Cloud Feedstock – Competitive Advantages

Suvo has a very pure source of kaolin as a feed stock for HPA production from its resource at White Cloud. The kaolin feedstock, weathered from granite overtime to reduce impurities such as iron, titanium, calcium and potassium among others, has significant advantages for HPA production over traditional manufacturing processes. White Cloud feedstock has very low impurities and high Al2O3 >38%.

The traditional method of manufacture is similar to that for aluminium metal, the Bayer process converts bauxite into alumina which is then further refined by the Hall-Heroult process into HPA. This method of processing is very expensive mostly due to the significant amount of energy required.

Current estimates of HPA pricing based on 4N (>99.99% Al2O3) purity is USD$15,000 – USD$30,000 per tonne.

The Company plans to capitalise on these outstanding results as it progresses and looks forward to updating the market in this regard.

HPA Market

HPA is a high value product without substitute that is critical for modern day devices and components such as lithium-ion batteries, LED lights, semiconductors and smart phone components, which have seen considerable growth in demand resulting in strong price growth.

HPA has gained rapid recognition as a potentially huge market of coating lithium-ion battery separators to facilitate the electrification of vehicles worldwide. It is also used in the LED (light emitting diode) market for sapphire substrates and extensively in consumer goods.

Lithium-ion batteries are now commonplace in vehicles globally and with regulators legislating against internal combustion engines this will only increase. HPA powder is applied to the separator sheet between the cathode and anode to maintain the integrity at the operating temperatures of modern batteries. In this application purity is key to ensure battery efficiency, life and safe operation.

HPA will form one of the cornerstone high-end demand drivers for the unique White Knight ore, combined with contracts already in place with ceramic producers. This interest in the White Knight product underpins the value proposition highlighted by the recent Scoping Study.

HPA Results – 4N Achieved

Suvo provided 4kg of its refined kaolin product from the White Cloud Kaolin Project to BGRIMM, the chemical composition of the sample is represented below in Table 1.

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Table 1. Main chemical components of Suvo’s 4kg refined kaolin sample

Component	Al2O3	SiO2	Fe2O3	TiO2	K2O	Na2O	CaO	MgO
Content %	38.43	47.19	0.29	0.12	0.18	0.07	＜0.05	0.09

Source: BGRIMM

The testing of the samples’ chemical constituents shows that the high Al2O3 (at 38.43%) is much higher than other refined kaolin (Al2O3 27-37%) . It is also noteworthy that impurities such as Fe2O3 and TiO2 are low. The White Cloud kaolin generally is an ideal feed stock to produce high grade HPA.

The test work was exploratory, with the aim to identify a process route to derive high grade HPA, identify possible future improvements to the process, produce samples of 4N HPA and ultimately 5N HPA.

The process route involved the roasting of the feed stock to remove water molecules contained in the kaolin, and improve the kaolin activity followed by an impurity removal stage after acid leaching. A solution of HPA went through three methods of impurity removal after which the HPA was crystallised.

Table 2. Analysis result of HPA purity

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Element Content ppm %
Si 0.40 0.0000004
Ti 1.25 1.25E-06
Mg 2.8 0.0000028
K 64 0.000064
Fe 2.40 0.0000024
Ca 4.8 0.0000048
Na 2 0.000002
Total Impurity 77.65 7.765E-05
Purity 99.992%
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Source: BGRIMM

BGRIMM summarised the tests as follows:

• Through an initial exploratory test 4N HPA has been produced

• Importantly an understanding of the material has been achieved, specifically the removal of impurities

• Subsequent tests can be further optimised

• BGRIMM is confident that 5N HPA can be produced from the Suvo White Cloud kaolin based on its unique, naturally higher Al2O3 content and its very low impurities

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Figure 1 : White Cloud HPA product developed at BGRIMM

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Figure 2 : BGRIMM Dust-free Laboratory

The White Cloud Project

The 100% owned White Cloud Project is located 215km northeast of Perth, Western Australia. The project area comprises four granted exploration licences for 413km2 centred around the town and rail siding of Gabbin. The generally flat area is primarily cleared farming land devoid of native bushland and is currently used for broad-acre cereal cropping. A mining access agreement is in place over the current resource area with the land owner and occupier.

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The main rock types at White Cloud are primarily Archaean granite, gneiss, and migmatite. These rocks are overlain and obscured by Tertiary sand and Quaternary sheetwash. The weathering profile is very deep and contains thick kaolin horizons capped by mottled clays or laterite zones. Current resources at White Cloud total 72.5Mt of bright white kaolinised granite with an ISO brightness of 80.5% and a yield of 41.2% resulting in 29.9Mt of kaolin. These resources /are comprised of Indicated Resources of 26.9Mt of bright white kaolinised granite at 80.4% ISO brightness and a yield of 41.3% resulting in 11.1Mt of kaolin and Inferred Resources of 45.6Mt of bright white kaolinised granite at 80.6% ISO brightness and a yield of 41.1% resulting in 18.8Mt of kaolin.

Figure 3: White Cloud tenement and infrastructure location map

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About Beijing General Research Institute of Mining and Metallurgy (BGRIMM)

BGRIMM was founded in 1956 and is a national institute engaged in R & D and engineering services in relation to mineral resource developments, advanced material technology and products, Li-battery materials, special powder materials and coating technology as well as mining, mineral processing, metallurgy and the recycling of metallic resources.

In 1999 BGRIMM became a large state technology corporation directly under the control of SASAC (State-owned Assets Supervision and Administration Commission of the State Council) with two research centres, ten research institutes, one engineering and fifteen technology companies, including two listed companies, employing more than 3,000 staff including 800 professionals.

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Figure 4: BGRIMM’s offices, laboratory facilities, pilot plants are located in Beijing, China

Espring, a subsidiary company of BGRIMM, is engaged in R&D, and manufacture of lithium-ion battery materials and various electronic ceramic materials. Espring became a listed company on the Shenzhen Stock Market in 2010 (stock code: 300073), engaged and specialised in lithium-ion battery material production, sales, research and development.

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Figure 5: BGRIMM’s Technology Development Centre for Battery and Electronic Materials

BGRIMM is a specialist in powder materials and coating technology, engaged in the research, development and commercialisation of coating materials as well as surface engineering technology. To date, BGRIMM has developed nearly 100 types of high-performance coating materials. BGRIMM owns and operates an R&D centre for special powders and powder metallurgy products. Occupying an area of 6,000m[2] , the centre has more than 200 sets of test and production facilities, including specialised production lines of ceramic powder, composite powder, alloy powder, aluminium alloy additive and thermal spraying products. BGRIMM also provides services associated with highperformance coating material and technology for which HPA is used as the coating material for lithium-ion battery separator.

The release of this announcement has been approved by the Board of Directors.

Contacts:

Robert Martin Aaron Banks Executive Chairman Executive Director E: robert.martin@suvo.com.au E: aaron.banks@suvo.com.au

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Competent Person Statements

The information in this announcement which relates to HPA testing Results is based on information compiled by Dr Ian Wilson. Dr Ian Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the JORC Code, by virtue of his being a member of IOM3, a Recognised Professional Organisation. Dr Ian Wilson is a full-time employee of Ian Wilson Consultancy Ltd and also a Non-Executive Director of Suvo Strategic Minerals Limited. Dr Ian Wilson receives board fees in relation to his directorship. Dr Ian Wilson consents to the inclusion of the information in the release in the form and context in which it appears.

Company Profile

Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company listed on the Australian Securities Exchange (ASX:SUV). Suvo is focused on production at, and redevelopment of, their 100% owned Pittong hydrous kaolin operation located 40km west of Ballarat in Victoria. Suvo’s exploration focus is on their 100% owned White Cloud Kaolin Project located adjacent to Gabbin in the Central Wheat Belt, and the 100% owned Nova Silica Sands Project located in the Gin Gin Scarp near Eneabba, both situated in Western Australia.

Pittong Operations

The 100% owned Pittong Operations, located in Victoria 40km west of Ballarat, is the sole wet kaolin mine and processing plant in Australia and has been in operation since 1972. Pittong comprises the Pittong, Trawalla and Lal Lal deposits located on approved Mining Licences MIN5408, MIN5365 and MIN5409 respectively.

At Pittong mining contractors deliver crude kaolin ore to stockpiles from the two currently operating mines, Pittong and Lal Lal. The plant takes its feedstock from the ROM and it is processed into four separate products for end users. These products are 10% moisture lump, high solids slurry, 1% moisture powder and 1% moisture pulverised powder. The solids slurry is used in paper and board manufacturing. The other products are used in paper, coatings, paint and specialist industries including rubber and pharmaceutical applications. Around 20-25kt per annum is supplied to various end users.

Current Reserves and Resources at Pittong are reported to PERC code and are in the process of being upgraded to JORC 2012 compliance.

The White Cloud Kaolin Project

The 100% owned White Cloud Project is located 215km northeast of Perth, Western Australia. The project area comprises four granted exploration licences (E70/5039, E70/5332, E70/5333, E70/5517) for 413km[2] , centred around the town and rail siding of Gabbin.

The generally flat area is primarily cleared farming land devoid of native bushland and is currently used for broad-acre cereal cropping. A mining access agreement is in place over the current resource area with the landowner and occupier.

The White Cloud Kaolin Project Scoping Study was released on 27 May 2021 and titled “Suvo delivers a robust Scoping Study demonstrating the potential to develop a multi decade mine at their 100% owned White Cloud Kaolin Project”. The Company confirms that the material assumptions underpinning the production target and forecast financial information in the initial public announcement continue to apply. The production target is based solely on indicated resources and a breakdown of the Company's resource is set out at the end of this announcement.

The main rock types at White Cloud are primarily Archaean granite, gneiss, and migmatite. These rocks are overlain and obscured by Tertiary sand and Quaternary sheetwash. The weathering profile is very deep and contains thick kaolin horizons capped by mottled clays or laterite zones. The current JORC 2012 Mineral Resources are 72.5Mt of bright white kaolinised granite with an ISO Brightness of 80.5%, <45m yield of 41.2% results in 29.9Mt of contained kaolin.

Nova Silica Sands Project

The 100% owned Nova Silica Sands Project is located 300km north of Perth, Western Australia. The project comprises four granted exploration licences (E70/5001, E70/5322, E70/5323, E70/5324) for 169km[2] .

The project is located on the Eneabba Plain whose sandy cover is very flat to gently undulating. Outcrop is rare due to the accumulations of windblown and alluvial sand at surface. Below this is a thin hard silcrete or lateritic claypan which overlies deep white and yellow sands.

Preliminary exploration has included 54 drillholes for 1,620 metres to depths of up to 30m. This program is anticipated to deliver an initial resource for the project and a process route.

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Forward looking statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Scoping Study

The White Cloud Kaolin Project Scoping Study (the “Study” or the “Project”) referred to in this ASX announcement was first announced on 27 May 2021, is conceptual in nature and has been undertaken to assess the potential for the development of the Project. The Study is based on the Mineral Resources set out below. The Study is preliminary in nature and, although based entirely on Indicated Mineral Resources, the overall deposit includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be categorised as Ore Reserves. Mineral Resources are not Ore Reserves and do not have demonstrated economic viability. The Study includes a preliminary economic analysis based on a number of possible production targets (“Production Target”) and assumptions on Modifying Factors and evaluation of other relevant factors estimated by a Competent Person to be at the level of a Scoping Study. The Study outcomes, Production Target and forecast financial information are based on information that is considered to be at a Scoping Study level. The information applied in the Study is insufficient to support the estimation of Ore Reserves. While each of the Modifying Factors was considered and applied to a level that is considered to be appropriate for a Scoping Study, there is no certainty of eventual conversion to Ore Reserves or that the Production Target will be realised. Further exploration and evaluation studies are required before the Company will be in a position to estimate any Ore Reserves or provide any assurance of an economic development case.

White Kaolinised granite (Mt) ISO Brightness (%) Yield (%) Kaolin (Mt)	White Kaolinised granite (Mt) ISO Brightness (%) Yield (%) Kaolin (Mt)	White Kaolinised granite (Mt) ISO Brightness (%) Yield (%) Kaolin (Mt)	White Kaolinised granite (Mt) ISO Brightness (%) Yield (%) Kaolin (Mt)	White Kaolinised granite (Mt) ISO Brightness (%) Yield (%) Kaolin (Mt)
Indicated 26.9 80.4 41.3 11.1
Inferred 45.6 80.6 41.1 18.8
Total	72.5	80.5	41.2	29.9

Mineral Resource estimate (<45 microns)

The Mineral Resource was first released on 25 March 2021. The Company confirms that it Is not aware of any new Information or data which materially affects the mineral resource and that the material assumptions underpinning the mineral resource continue to apply.

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Appendix 1: JORC Table 1

Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

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Criteria JORC-Code Explanation Commentary
Sampling Nature and quality of sampling (eg cut
techniques channels, random chips, or specific Metallurgical HPA test work applies to samples retrieved
specialised industry standard from MAC 0001.
measurement tools appropriate to the
minerals under investigation, such as To create the refined clay an 18kg bulk sample was jaw
down hole gamma sondes, or handheld crushed, blunged at 50% solids and screened at 53micron,
XRF instruments, etc). These examples the minus 53 micron clay had 10% w/w Na polyacrylate
should not be taken as limiting the broad added to ensure dispersion. This slurry was passed over a
super-conducting magnet at 5 tessla. The product was further
meaning of sampling.
refined by settlement to achieve a fine product of 85% <2
micron, which was bleached using 0.6% sodium dithionite at
Include reference to measures taken to pH4.
ensure sample representivity and the
appropriate calibration of any
The resulting product was analysed by xrf – 47.19% SiO2,
measurement tools or systems used. 38.43% Al2O3, 0.29% Fe2O3, 0.12% TiO2, 0.18% K2O,
0.07% Na2O, <0.05% CaO, 0.09% MgO, <0.05 P2O5, BaO
Aspects of the determination of
<0.05, 14.06% LOI.
mineralisation that are Material to the
Public Report. In cases where ‘industry
The process route involved the roasting of the feed stock to
standard’ work has been done this would
create a metakaolin followed by an impurity removal stage
be relatively simple (eg ‘reverse
after acid leaching. A solution of HPA went through three
circulation drilling was used to obtain 1 m
methods of impurity removal after which the HPA was
samples from which 3 kg was pulverised
crystallised.
to produce a 30 g charge for fire assay’).
In other cases more explanation may be
required, such as where there is coarse
gold that has inherent sampling
problems. Unusual commodities or
mineralisation types (eg submarine
nodules) may warrant disclosure of
detailed information.
Drilling Drill type (eg core, reverse circulation, Not applicable as no new drilling was undertaken
techniques open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details
(eg core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether core
is oriented and if so, by what method,
etc).
Drill sample Method of recording and assessing core Not applicable as no new drilling was undertaken
recovery and chip sample recoveries and results
assessed.
Measures taken to maximise sample
recovery and ensure representative
nature of the samples.
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Criteria JORC-Code Explanation Commentary
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse
material.
Logging Whether core and chip samples have Not applicable as no new drilling was undertaken
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel, etc) photography.
The total length and percentage of the
relevant intersections logged.
Sub-sampling If core, whether cut or sawn and whether
techniques quarter, half or all core taken. The composite sample was created by combining the
and sample constituent samples in a laboratory under the supervision of
preparation If non-core, whether riffled, tube qualified personnel.
sampled, rotary split, etc and whether
sampled wet or dry. The size and representative nature of the samples is
considered appropriate for an exploratory sample.
For all sample types, the nature, quality
and appropriateness of the sample
preparation technique.
Quality control procedures adopted for all
sub-sampling stages to maximise
representivity of samples.
Measures taken to ensure that the
sampling is representative of the in situ
material collected, including for instance
results for field duplicate/second-half
sampling.
Whether sample sizes are appropriate to
the grain size of the material being
sampled.
Quality of The nature, quality and appropriateness All analytics were completed at BGRIMM under the
assay data of the assaying and laboratory supervision of suitably qualified managers.
and laboratory procedures used and whether the
tests technique is considered partial or total. Analysis of samples was conducted by ICPMS.
For geophysical tools, spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations factors
applied and their derivation, etc.
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Criteria JORC-Code Explanation Commentary
Nature of quality control procedures
adopted (eg standards, blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (ie lack of bias) and precision
have been established.
Verification of The verification of significant All test work was completed at BGRIMM under the
sampling and intersections by either independent or supervision of suitably qualified managers.
assaying alternative company personnel.
Primary data is captured on paper in the laboratory then
The use of twinned holes.
entered into spreadsheets by staff and checked by the
manager.
Documentation of primary data, data
entry procedures, data verification, data
No adjustments were made to assay data.
storage (physical and electronic)
protocols.
Discuss any adjustment to assay data.
Location of Accuracy and quality of surveys used to Not applicable as no new drilling was undertaken
data points locate drill holes (collar and down-hole
surveys), trenches, mine workings and
other locations used in Mineral Resource
estimation.
Specification of the grid system used.
Quality and adequacy of topographic
control.
Data spacing Data spacing for reporting of Exploration Not applicable as no new drilling was undertaken
and Results.
distribution
Whether the data spacing and
distribution is sufficient to establish the
degree of geological and grade continuity
appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s)
and classifications applied.
Whether sample compositing has been
applied.
Orientation of Whether the orientation of sampling Not applicable as no new drilling was undertaken
data in relation achieves unbiased sampling of possible
to geological structures and the extent to which this is
structure known, considering the deposit type.
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.
Sample The measures taken to ensure sample Samples have been in the care of lab personnel during
security security. processing.
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Criteria JORC-Code Explanation Commentary
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Criteria JORC-Code Explanation Commentary	Criteria JORC-Code Explanation Commentary	Criteria JORC-Code Explanation Commentary
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	All test work was completed under the supervision of suitably qualified managers and has been found to be acceptable. Suvo has not undertaken an independent audit or review of the test work.

Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

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Criteria JORC-Code Explanation Commentary
Mineral Type, reference name/number, location The 100% owned White Cloud Project is located 215km
tenement and and ownership including agreements or northeast of Perth, Western Australia. The project area
land tenure material issues with third parties such as comprises four granted exploration licences (E70/5039,
status joint ventures, partnerships, overriding E70/5332, E70/5333, E70/5517) for 413km2 , centred around
the town, and rail siding, of Gabbin. There are no known
royalties, native title interests, historical
impediments to operate on the tenements.
sites, wilderness or national park and
environmental settings.
The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.
Exploration Acknowledgment and appraisal of No previous exploration for kaolin has been identified
done by other exploration by other parties.
ti
Geology Deposit type, geological setting and The White Cloud kaolin deposit is formed from the weathering
style of mineralisation. of coarse-grained granite composed of quartz and feldspar with
minor amounts of mica and other constituents. Kaolinite is a
layered alumino-silicate clay mineral. The feldspar in the
granite has been altered to kaolinite during the weathering
process. The weathering process appears to relate to historical
water table movement, which formed a residual ‘hardcap’
possibly recemented immediately below the overburden.
Although relatively thin, this layer was at times impenetrable for
the air core drilling rigs. Thus, several holes were abandoned at
this depth. Where the layer was penetrated, kaolin was
intersected
Drill hole A summary of all information material to Not applicable as no new drilling was undertaken
Information the understanding of the exploration
results including a tabulation of the
following information for all Material drill
holes:
easting and northing of the drill hole
collar
elevation or RL (Reduced Level –
elevation above sea level in metres) of
the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is
justified on the basis that the information
is not Material and this exclusion does
not detract from the understanding of
the report, the Competent Person
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Criteria JORC-Code Explanation Commentary
should clearly explain why this is the
case.
Data In reporting Exploration Results, Aggregation and averaging have not been used.
aggregation weighting averaging techniques,
methods maximum and/or minimum grade
truncations (eg cutting of high grades)
and cut-off grades are usually Material
and should be stated.
Where aggregate intercepts incorporate
short lengths of high grade results and
longer lengths of low grade results, the
procedure used for such aggregation
should be stated and some typical
examples of such aggregations should
be shown in detail.
The assumptions used for any reporting
of metal equivalent values should be
clearly stated.
Relationship These relationships are particularly Not applicable as no new drilling was undertaken
between important in the reporting of Exploration
mineralisation Results.
widths and
intercept If the geometry of the mineralisation with
lengths respect to the drill hole angle is known,
its nature should be reported.
If it is not known and only the down hole
lengths are reported, there should be a
clear statement to this effect (eg ‘down
hole length, true width not known’).
Diagrams Appropriate maps and sections (with Not applicable as no new drilling was undertaken
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These should
include, but not be limited to a plan view
of drill hole collar locations and
appropriate sectional views.
Balanced Where comprehensive reporting of all The reporting is considered to be balanced.
reporting Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting
of Exploration Results.
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26 August 2021 ASX ANNOUNCEMENT

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Criteria	JORC-Code Explanation	Commentary
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Not applicable as no new drilling was undertaken
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	Further work is being conducted, a pilot plant is being considered.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

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