TURNSTONE RESOURCES LTD — Capital/Financing Update 2023

Feb 12, 2023

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ASX ANNOUNCEMENT

13 February 2023

South Harz Appoints Leading Industry Specialists & Commences Ohmgebirge Potash Project PFS

• Preliminary Feasibility Study (PFS) on the Ohmgebirge potash project underway with the appointment of specialist team of consultants to deliver the PFS

• Hatch to lead the team including German engineering consultants ERCOSPLAN in the role of mining specialist, K-UTEC as process consultant, and Micon for Resource Geology

• South Harz PFS project team led by Chief Operating Officer Lawrence Berthelet

South Harz Potash Limited (ASX:SHP) ( South Harz or the Company ) is pleased to announce that it has appointed its specialist team to deliver the PFS for its 100%-owned Ohmgebirge potash development project in Thuringia, Germany.

Hatch is a recognised leader in the development and implementation of potash projects globally and has worked on projects in Europe, North America and beyond. ERCOSPLAN and K-UTEC have a long tradition in the development of potash projects in many parts of the world, and both are particularly experienced in the Thuringian “hartsalz” typical of the region. Micon will continue to provide geological support and will be responsible for the Mineral Resource Estimate.

The PFS is set to further refine the engineering, design and cost estimates (to +/-20%) for the Ohmgebirge Development, following the Scoping Study completed in August 2022. Key workstreams have already commenced with overall PFS completion scheduled for January 2024.

South Harz Chief Operating Officer, Lawrence Berthelet, commented:

“We are very pleased to be working with global industry leaders, Hatch, and premier German mine and process engineering teams, ERCOSPLAN and K-UTEC, to advance our flagship Ohmgebirge Development. Coupled with our geology partner, Micon, the external team will deploy its experience alongside our Owner’s Team to advance the project through the PFS workstreams and will provide essential support to the Environmental Impact Assessment and permitting processes announced earlier this month.”

CONTACT DETAILS

Unit 13, W: southharzpotash.com 6 – 10 Douro Place West Perth WA 6005 E: info@southharzpotash.com P: +61 (0) 408 447 493

ABN: 64 153 414 852 586.1M Ordinary Shares ASX Code: SHP 61.8M Unlisted Options ASX Code (Options): SHPO 46.2M Listed Options Frankfurt Code: A2DWXX

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The team will be under the in-house leadership of South Harz Chief Operating Officer, Lawrence Berthelet, with key PFS specialist discipline engineering responsibilities to include:

Hatch Ltd , the leading global engineering, project management and professional services firm as:

• Lead consultant and study manager (external), with Owner’s Engineer responsibility,

• Infrastructure engineering and design, including all energy trade-off studies,

• Capital and operating cost estimates.

ERCOSPLAN , specialist engineering consultant responsible for:

• Mine planning, geological risk assessment, geotechnical modelling, shaft hoisting and underground backfill technology engineering.

K-UTEC AG Salt Technologies , globally active partner for process engineering with responsibility for:

• Process flowsheet design, backfill technical and constituent engineering.

Micon International Co Ltd , a recognised mining consultancy firm providing independent professional advice to mining companies provides continuity in:

• Geological modelling, Competent Person and Mineral Resource update provision.

This ASX release has been approved by Managing Director, Luis da Silva.

Investor and media enquiries

Luis da Silva

Managing Director South Harz Potash Ltd info@southharzpotash.com

Michael Vaughan Fivemark Partners +61 422 602 720 michael.vaughan@fivemark.com.au

Justine James / Matthew Young Alma PR +44 203 405 0205 shp@almapr.co.uk

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About South Harz

South Harz Potash (ASX: SHP) ( South Harz ) is a potash exploration and development company with its flagship project located in the South Harz Potash District of Germany, midway between Frankfurt and Berlin.

The South Harz Project hosts a globally large-scale potash JORC (2012) Mineral Resource estimate of 5 billion tonnes at 10.6% K2O of Inferred resources and 258 million tonnes at 13.5% K2O of Indicated Resources across four wholly-owned project areas located favourably within central Europe.[1] This comprises three perpetual potash mining licences, Ohmgebirge, Ebeleben and Mühlhausen-Nohra, and two potash exploration licences, Küllstedt and Gräfentonna, covering a total area of approximately 659km[2] .

With strong established infrastructure proximate to the key European market, the South Harz Project is well positioned to enable rapid economic development across multiple deposits.

South Harz Potash: Growing a responsible potash business in the heart of Germany

www.southharzpotash.com

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1. Refer to South Harz ASX release dated 12 July 2022 for full Mineral Resource estimate details. In accordance with ASX Listing Rule 5.23, the Company is not aware of any new information or data that materially affects the information included in this release and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the estimates in this release continue to apply and have not materially changed.