TURNSTONE RESOURCES LTD — Capital/Financing Update 2024

Feb 22, 2024

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ASX ANNOUNCEMENT 23 February 2024

EXPORT ACCESS MOU EXECUTED WITH EUROPORTS

• Non-binding MoU signed to advance long-term export access with major European ports operator, Euroports.

• Delivers multiple potential export infrastructure options for Ohmgebirge and emphasises overland transport advantages possessed by South Harz relative to key suppliers into potash export markets.

South Harz Potash Limited (ASX:SHP) ( South Harz or the Company ) is pleased to advise that it has executed a non-binding Memorandum of Understanding ( MoU ) with Euroports Germany GmbH & Co. KG and Euroports Belgium NV (collectively, Euroports ).

The MoU contemplates South Harz and Euroports advancing commercial discussions towards a potential longterm agreement for the storage, handling and export of potash product from South Harz’s flagship Ohmgebirge Potash Development ( Ohmgebirge ), located in central Germany, through one of Euroports’ operated facilities in Rostock (Germany) and/or Antwerp (Belgium). Figure 1 depicts the location of these export facilities along with the key overland transport routes linking them to Ohmgebirge.

South Harz Managing Director and CEO, Luis da Silva, commented, "While we plan to sell much of our potash output from Ohmgebirge into proximate European demand, it is also anticipated that Ohmgebirge will supply key export markets such as Brazil and North America to account for seasonality (as outlined in the preliminary marketing strategy we presented in the Ohmgebirge Scoping Study). Being located close to existing port infrastructure (approximately 450 km by rail or road to Rostock, and 470 km to Antwerp) delivers South Harz a substantial overland transport (and associated carbon emissions footprint) advantage relative to major established producers in Canada and eastern Europe, some of which need to rail product up to 2,000 km to their export facilities.”

About Euroports

“Bringing essential goods to the world. Together’

Euroports is a leading port-centric platform with a global network of circa 50 port terminals across Europe and China; complemented by integrated end-to-end supply chain services including freight forwarding services, through its subsidiary, Manuport Logistics (the “Euroports Group”). Euroports handles more than 70 million tons of paper, pulp, fertilisers, agribulk, sugar, metals and minerals while capturing many fast-growing products, such as wind turbines, lithium, biofuel and recycling waste. Focusing on achieving zero harm, Euroports places safety and compliance as its highest priority.

Euroports is headquartered in Belgium and has over 2,700 employees.

780.1 M Ordinary Shares 113.4 M Unlisted Options

ABN: 64 153 414 852 ASX Code: SHP Frankfurt Code: A2DWXX

CONTACT DETAILS W: southharzpotash.com E: info@southharzpotash.com P: +61 (0) 408 447 493

U13, 6 – 10 Douro Place West Perth WA 6005

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Figure 1: Location of Euroports’ facilities in Rostock and Antwerp relative to Ohmgebirge

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

Investor and media enquiries

Luis da Silva

Managing Director and CEO South Harz Potash Ltd info@southharzpotash.com

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

CONTACT DETAILS W: southharzpotash.com E: info@southharzpotash.com P: +61 (0) 408 447 493

780.1 M Ordinary Shares 113.4 M Unlisted Options

ABN: 64 153 414 852 ASX Code: SHP Frankfurt Code: A2DWXX

U13, 6 – 10 Douro Place West Perth WA 6005

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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 region 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.

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 these releases continue to apply and have not materially changed.

CONTACT DETAILS

W: southharzpotash.com

E: info@southharzpotash.com P: +61 (0) 408 447 493

ABN: 64 153 414 852 ASX Code: SHP Frankfurt Code: A2DWXX

780.1 M Ordinary Shares 113.4 M Unlisted Options

U13, 6 – 10 Douro Place West Perth WA 6005