Summary

Deposit type

• Sedimentary

Summary:

The interpreted mineralisation zones (>3% TGC) comprise eight individual lenses. Approximately 70% of the mineralisation is contained in two major lenses (Zones 1 and 2), that range between a minimum of about 2 m up to a maximum of about 15 m in true thickness. The mineralisation roughly strikes towards 070°, dipping on average 20° towards 340° – although the lenses appear to be affected by gentle folding.

The strike extent is roughly 1,100 m and across strike width is roughly 500 m.

The mineralisation outcrops in the south and east and is interpreted up to a maximum depth of about 190 m below surface in the north. The combined thickness of the mineralisation zones is greatest (˜25 m to ˜40 m) in the eastern half of the deposit thinning to the west (˜5 m to ˜20 m).

Dimensions
The interpreted mineralisation zones (>4% TGC) consist of 4 individual lenses that range in thickness up to about 30 m. In the centre and north of the T16 deposit the upper zone (mineralisation zone 1) is interpreted to be laterally more extensive northwards than the lower zone (mineralisation zone 2), while in the south of the deposit the upper zone (mineralisation zone 3) is interpreted to be about double the thickness of the lower zone (mineralisation zone 4).

The mineralisation roughly strikes towards 065°, dipping on average 25° towards 325° although probably affected by folding. The plan view strike extent of the two northern mineralisation zones is roughly 800 m and across strike width is roughly 450 m. The plan view strike extent of the two southern mineralisation zones is roughly 240 m and across strike width is roughly 200 m. The mineralisation outcrops in the south and east. The combined thickness of the mineralisation zones is greatest in the eastern half (~25 m to 40 m) of the deposit, thinning to the south west (~20 m).

Mining Methods

• Truck & Shovel / Loader

Summary:

The mining method selected for the Ancuabe project is open pit mining applying conventional techniques that are commonly practiced in this style of deposit and region. A mining recovery factor of 95% and dilution factor of 10% have been applied in the Ore Reserve Estimate.

Separate optimisations were run for the T12 and T16 deposits, and two optimisations were carried out for T16 to determine the effect of constraining the pit limits to the tenement boundary on the north of the deposit. Both deposits show flat cash curves indicating that the optimisation is Mineral Resource constrained, indicating that the deposits may continue at depth and possibly along strike.

Final pit designs correlate well with optimisation results, however the T16 final design contains 15% less ROM feed than the optimisation shell as a more practical to the tenement boundary constraint was adopted in the pit design.

Depending on the availability of suitable waste materials at T16 additional materials for the Tailings Storage Facility wall and Water Storage Facility wall construction may also be sourced from within the proposed containment areas. Prior to completion of mining operations at T16, pre- strip mining will commence at T12.

It is planned that conventional drill and blast, load and haul, open pit mining will be used to extract the mineralised material. ROM feed will be defined by grade control procedures in the pit, and delivered by truck to the ROM pad located centrally between the T12 and T16 deposits. Waste will need to be classified for its Potential to be Acid Forming (PAF) and be dumped in managed waste dumps adjacent to the open pits. It is planned that mining will be carried out by an experienced earthmoving contractor.

Comminution

Crushers and Mills

Summary:

Crushing
The mined ore bearing rock will be crushed into a fine material in a tertiary crushing circuit so that the graphite can be removed. Oversize material will be recirculated through the crushers until the required size is reached. The size reduction will be from approximately 600mm to 20mm through the tertiary crushing circuit.

Primary Grinding
The crushed ore is conveyed to the crushed ore bin and fed into the mill feed conveyor. Ore is fed into the rod mill with water, which operates in closed circuit. The screen undersize P95 710-1000 µm is pumped to the flotation circuit and the screen oversize is recycled back to the rod mill via conveyors.

Processing

• Crush & Screen plant
• Flotation
• Dewatering

Summary:

The Ancuabe Graphite Project process plant throughput will range from 0.9 to 1.1 Mtpa, to produce up to 60,000 tpa graphite concentrate (variation based on grade).

The flowsheet is based on metallurgical testwork undertaken with samples from the T12 and T16 deposits by weathering extent (oxide/transition and fresh). The proposed process plant facilities for the Ancuabe Graphite Project in the DFS comprise:

• Run of mine (ROM) pad
• Tertiary crushing circuit
• Rod mill feed bin and grinding circuit
• Rougher flotation
• Three stages of attritioning and five stages of cleaner flotation
• Concentrate filtration
• Concentrate drying, classification and bagging three products
• Tailings thickening and storage
• Reagents.

Rougher flotation
Flotation is the process of bubbling air through the milled sand and water slurry so that the graphite, which is lighter than the sand, can be separated off. This is done by adding reagents to the flotation feed (milled “sand”) and mechanically agitating the slurry mixture to produce rougher concentrate (graphite containing product) and rougher tailings (waste). The rougher concentrate is pumped to an attrition mill where the waste attached to the graphite is “knocked off” the edges of the graphite, before being pumped to the Cleaners.

Cleaner flotation
There are five stages of cleaning in the Cleaner circuit where the rougher concentrate is further refined and tailings removed. There are three stages of attritioning on the Rougher, Cleaner 1 and Cleaner 2 concentrates prior to next stage flotation.

Filtration and drying
The final concentrate is then filtered, dried and classified into 3 products before being transferred to a bulk graphite holding bins. The three size fractions include: +300 µm, -300+180 µm, and -180 µm.

The final concentrate, once classified, is then packaged into bags on site and stored temporarily, for transport from site by trucks. Full bags will be handled using a forklift and pallets. Bagged concentrate products will be stored undercover and loaded either onto trucks or into containers for shipment from site to the Port of Pemba. The minimum shipment will be one container and maximum of approximately 250 containers.

Water Supply

Summary:

Raw water supply from a catchment dam.

Commodity Production

Operational metrics

Personnel

Job Title	Name	Profile	Ref. Date
Chief Operating Officer	Adrian Costello		Sep 17, 2025
Project Manager	Gidião Mbanze		Sep 17, 2025