Summary

Mine Type	Open Pit
Study Completed	Feasibility
Stage	Fully Permitted
Commodities	Nickel Cobalt Scandium Ammonium sulphate
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	The Sunrise Project is one of the largest and most cobalt-rich nickel laterite deposits in the world and is development-ready, with all key permits and approvals in place. Sunrise is also one of the largest and highest-grade scandium deposits globally. In June 2020, the DFS was updated with a Project Execution Plan (PEP), revised Capital and Operating costs and engineering study. As the market is currently flooded with excess Chinese supply (from Indonesia and the DRC), Sunrise Energy’s plan is to limit operations and preserve options until market conditions improve for the Sunrise Project.

Deposit type

• Laterite

Summary:

The Sunrise Project is one of the largest and most cobalt-rich nickel laterite deposits in the world.

The mineralisation is essentially horizontal with local dips of a few degrees in various directions. The resource extends over an area approximately 4km x 4km; thickness of the lateritised zones varies from a few metres to a total of over 30m. The base of the mineralisation varies from a few metres to more than 60m below natural surface.

• Sunrise is an iron-rich ‘oxide type’ nickel laterite deposit with higher than normal levels of associated Co and local elevated Pt and Sc values. It has developed over an ultramafic intrusive complex.
• The laterite profile is best developed over a Dunite core and thins over peripheral Pyroxenites.
• The laterite profile is partly overlain by transported alluvium.
• The laterite profile is interpreted to consist of 5 subhorizontal zones:

1)Residual Overburden (OVB): This zone is characterised by nickel values <0.2% nickel and very low cobalt values (<0.02% cobalt) with silicon values similar or slightly higher than the underlying TZ but relatively higher aluminium content. The OVB zone contains mean values for nickel and cobalt of 0.11% and 0.015% respectively.

2) Transitional Zone (TZ): The TZ represents weathered GZ material and was defined by the Al values as they increase significantly within the TZ from 2-3% Al to >4%. The nickel values dropped below 0.46% nickel and cobalt values fell below 0.03% cobalt compared with the nickel and cobalt values of 0.75% and 0.17% respectively from the underlying GZ. The mean values of the TZ for nickel and cobalt are 0.36% and 0.04% respectively.

3) Goethite Zone (GZ): The GZ is characterised by high iron and low silicon and variable aluminium values. The most significant difference is the increased nickel and cobalt values where the mean nickel and cobalt values are 0.75% and 0.15% respectively. The GZ/TZ boundary is gradational but an aluminium cut-over value of 2-3% has been used with the result that the mean aluminium value in the GZ is 3%. The GZ/SGZ is well defined with silicon values increasing from approximately 10% to >20% silicon being the principal criterion.

4) Silicified Goethite Zone (SGZ): The SGZ is characterised by high Si, generally >20% Si and low Al values (<2%). The nickel and cobalt values are lower than the GZ with the mean nickel and cobalt values being 0.6% and 0.07% respectively.

5) Saprolite Zone (SAP): The SAP Zone represents the saprolite horizon of the underlying dunite source rock. Its principal characteristic is the significant increase in magnesium (>5%) together with a commensurate lower iron content (<10%). The nickel and cobalt are lower than the overlying SGZ with the mean nickel and cobalt values being 0.25% and 0.025% respectively.

• Nickel-cobalt mineralisation is best developed in the GZ and SGZ, overlying the dunite.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

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Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Oct 17, 2025

Employees	Year
......	2020