Chilwa Minerals (CHW) Investor presentation summary

Project overview

• Malawi project hosts an Inferred mineral sands resource of 61.6Mt at 3.9% THM across 10 deposits, reported under JORC 2012.

• Strategy advances mineral sands alongside rare earths and niobium, with a high-value sands assemblage including ilmenite, zircon, rutile and monazite.

Exploration progress

• Mposa sonic drilling covered 821 holes and 7,073m over 8km of strike; results for 7.7km were received, and resource update calculations commenced following higher grades.

• Mposa has an existing 19.4Mt at 4.3% THM Inferred resource, plus Mposa North at 1Mt at 1.9% THM.

• Bimbi drilling completed 134 holes for 927m within a 377-hole program; about half of the Mpyupyu Main program was complete.

• Surveys identified 52 HMS targets and 47 carbonatite targets; soil sampling across 30 REE targets confirmed coincident pathfinder anomalies.

• Diamond drilling commenced at Mposa East to test clay-hosted and primary REE mineralisation across a 1.8km by 1km area.

Metallurgy and development pathway

• Metallurgical work covered 2,909 Mposa samples; sands returned 8.8% heavy minerals and 5% low slimes.

• Sands contained ~90% valuable heavy minerals, including 76% ilmenite, 9.5% zircon and 1.4% rutile; silty sands contained 2–3% monazite.

• Planned milestones include HMS resource upgrades, an updated scoping study, pre-feasibility and bankable feasibility studies, plus REE drilling, assays and a scoping study.