QUANTUM GRAPHITE LIMITED — Environmental & Social Information 2024

Apr 2, 2024

QUANTUM GRAPHITE

MEDIA RELEASE For Immediate Release 03 Apr 2024

Uley 2 and Uley 3 Resource Expansion Program Notifi cation of Approved Program for Environment Protection and Rehabilitation EPR (P )

The Company is pleased to announce that the South Australian Department of Energy and Mining (SA DEM) has approved its PEPR (MPEPR2023/048) for the fi rst phase of the drilling program supporting the Uley 2 and Uley 3 Resource Expansion Program (Expansion Program).

The Expansion Program is a key part of the Company’s strategy to ensure it meets the signifi cant future growth expected for fl ake graphite within the next two years. Important elements of this strategy are the immediate expansion of both mine production and the life of mine within the Uley 2 and Uley 3 mineralised envelopes.

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ABOU T Q U AN T U M G R A P HI T E L IMITE D

QGL is the owner of the Uley fl ake graphite mineral deposits located south-west of Port Lincoln, South Australia. The company’s Uley 2 project represents the next stage of development of the century old Uley mine, one of the largest high-grade natural fl ake deposits in the world. For further information, qgraphite.com

ABOUT SUNL AN DS E N E R G Y C O.

Sunlands Energy Co. is the leading developer of thermal energy storage technology designed to drive utility-scale steam turbine generators. The company designs thermal energy storage cells (TES) that are capable of restoring baseload generation, critical inertia to grid networks and eliminating the large scale curtailment of renewables generation. https://www.sunlandsco.com/

QU A N T U M GR AP H ITE

The Company announced yesterday the completion of the geophysical airborne survey of all its Uley tenements. The results of this survey and the ground-based geophysical survey completed in December 2023 will be utilised for all future exploration work including development of district wide targets, i.e., beyond Uley 2 and Uley 3, as well as the immediate 100 drill hole program which is the subject of the PEPR.

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Under the PEPR, the drill program is approved for a 12-month period ending on 27 March 2025 and applies to all drilling within the Uley 2 and Uley 3 mining leases, MLs 5561 and 5562. SA DEM has determined that the drilling program will attract a rehabilitation bond of $31,000 which will be added to the existing bond held by SA DEM for the Uley 2 project.

The Company now has all relevant approvals to undertake the drill program. Drill hole locations are expected to be fi nalised within the next 3 weeks. A further announcement will be made as soon as the detailed drill plans have been concluded.

FOR MORE INFORMATION PLEASE CONTACT: Company Secretary Quantum Graphite Limited

E: info@qgraphite.com

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