Ardea Resources 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 and to make gold and nickel sulphide discoveries.

Goongarrie Nickel Cobalt Project (GNCP)

15 February 2021: Ardea announced GNCP High Grade Resource - 60 million tonnes at 1.0% nickel Sustainable Long-life Battery Metal Resource Confirmed

The GNCP is planned to be a high quality, long-life operation, with multi-commodity optionality. The GNCP forms part of the broader Kalgoorlie Nickel Project (KNP), which Ardea owns 100% and is located within one of the world’s most infrastructure-rich and stable mining jurisdictions.

The KNP, commencing with the GNCP can play a critical role as a long-life, sustainable, and ethical supply of nickel, cobalt and associated Critical Minerals for the expanding battery industry.

JORC 2012-compliant Mineral Resource Estimate (MRE) completed for the Goongarrie Nickel Cobalt Project (GNCP)

	GNCP based on 0.8% Ni cut-off grade	GNCP based on 0.5% Ni cut-off grade	KNP based on 0.5% Ni cut-off grade
Measured Indicated & Inferred MRE	60Mt at 1.0% Ni and 0.07% Co Contained metal 595kt nickel and 44kt cobalt	259Mt at 0.7% Ni and 0.05% Co Contained metal 1,817kt nickel and 119kt cobalt	826Mt at 0.7% Ni and 0.05% Co Contained metal 5,817kt nickel and 384kt cobalt
Notes: GNCP Maiden scandium component 74Mt at 35ppm scandium GNCP dominantly premium goethite mineralogy with excellent mineralised zone continuity, low acid consumption and good plant rheology Manganese credit, potential for Precursor Cathode Active Material (PCAM) Significant alumina credit within Clay Upper Goethite, recent Ardea R&D indicates potential for High Purity Alumina (subject to bench-scale testing)

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