ILUKA RESOURCES LIMITED — Capital/Financing Update 2020

Jan 15, 2020

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ASX:VYS

16 January 2020

PENTIUM SECURES CONTRACT WITH ILUKA RESOURCES LIMITED

Vysarn Limited (ASX:VYS) ( Company ) is pleased to advise that its wholly owned subsidiary Pentium Hydro Pty Ltd ( Pentium ) has received confirmation of the successful award of the Goods and Services Contract (Contract) with Iluka Resources Limited (Iluka).

The estimated value of the contract is $1,875,000 and based on the current scope is expected to be complete before the end of FY2020. Pentium plans to mobilise to site early February 2020. The scope of work as defined under the Contract is to provide the drilling of dewatering and injection wells at the Southern Area Development Project at Iluka’s Cataby mine site.

Pentium Managing Director Mr Sheldon Burt said:

“Pentium is delighted to be chosen as the successful tenderer, an endorsement of the quality of Pentium’s commercial team’s interpretation of Iluka’s needs and their appreciation of the Pentium service offering. The mobilisation of this rig will be the seventh rig of the fleet committed to a drilling program since acquiring the assets and the Company’s relisting on ASX in September 2019. The award of this work further strengthens the Company’s strategy to become the premium dewatering service provider in Western Australia, specifically to tier one mining clients.”

The ASX announcement has been authorised for release by the Board of Vysarn Limited.

For further information: Sheldon Burt Executive Director Vysarn Limited Telephone: +61 8 9486 7244

Vysarn Limited | ABN: 41 124 212 175 | ACN: 124 212 175 | 108 Outram St, West Perth, WA 6005 | PO Box 1974, West Perth WA 6872 T +61 (0) 8 9486 7244 | F +61 (0) 8 9463 6373 | E info@vysarn.com.au | vysarn.com.au