A Sustainable and Ethical Source of Nickel and Critical Minerals from the Kalgoorlie Nickel Project, Western Australia

Ardea Resources Limited (Ardea) is a Western Australia (WA) focused developer and explorer with a clear strategy to become an integrated, ethical feedstock supplier to the Lithium Ion Battery (LIB) sector through development of its globally significant nickel and cobalt Mineral Resource at its 100% owned Kalgoorlie Nickel Project (KNP). The KNP was awarded Major Project Status (MPS) on 18 March 2022 - recognising the national and strategic significance of the KNP to the Australian economy. The KNP is Australia's largest nickel-cobalt Critical Minerals project, located in the premier operating jurisdiction of Western Australia, with sustainable and ethical battery mineral supply Ardea's priority focus.

Current published JORC Code (2012) resource at KNP totals 5.9Mt contained nickel and 384kt contained cobalt, with 3.39kt scandium just from the Goongarrie portion of KNP, and other critical minerals to be quantified. Feasibility Studies underway and processing flowsheet is advanced showing customer ready end product specifications can be met. The base case is a 3.5Mtpa operation producing Mixed Hydroxide Precipitate (MHP) from an industry leading low carbon, off-grid flow-sheet.

Granting of MPS will assist the continued advancement of Ardea and the KNP as a green, forward-facing integrated nickel and Critical Minerals company. MPS provides Ardea access to the Major Projects Facilitation Agency for intergovernmental coordination of project support and approvals.

Ardea is a key industry participant of the Future Battery Industry Co-operative Research Centre.