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Company Overview

Ardea Resources is a Western Australian Critical Minerals company

Ardea Resources Limited (“Ardea”) is advancing its flagship Kalgoorlie Nickel Project (KNP). KNP is the largest nickel-cobalt resource in Australia (GSWA) and one of the largest in the developed World, making it of a scale that is rare and important in the World’s journey to Net Zero. KNP was awarded Major Project Status by the Australian Federal Government, recognising the national and strategic significance of the KNP to the Australian economy and the Eastern Goldfields of Western Australia.

  • Experienced Board and management team: The leadership has deep knowledge of Western Australian resources, a proven track record in discovery and development, and strong local relationships.
  • Tight capital structure: With 219.7 million shares on issue and top 40 shareholders holding over 60%, Ardea has strong support from institutional investors and high-net-worth individuals.
  • KNP Awarded Major Project Status by Australian Federal Government which has resulted in significant access to Government Departments and a seat at the table to give input to initiatives such as the Critical Minerals Production Tax Incentive.
  • Ardea will continue to retain 100% of all non-Goongarrie Hub KNP tenements, being the Kalpini Hub (Kalpini, Bulong projects) and the Yerilla Hub (Jump Up Dam, Boyce Creek and Aubils projects), providing Ardea with an internal project pipeline for future growth for nickel-cobalt and associated Critical Minerals.
  • Significant level of engagement and support, reflecting the strategic State, National and global importance of the Kalgoorlie Nickel Project – Goongarrie Hub:
    • Included in Australia-Japan joint statementASX
    • Part of Japan-U.S. Critical Minerals Project Cooperation frameworkASX
    • Australian Federal Government - Major Project StatusASX and Investor Front Door inclusionASX
    • has received conditional A$1 billion of equivalent funding support from Export Finance Australia and U.S. EXIMASX
    • has successfully been awarded Lead Agency Status from Western Australian Government’s Department of Energy and Economic DiversificationASX

Kalgoorlie Nickel Project – Goongarrie Hub will be a multi-decade operation which will meet demand for nickel-cobalt supply with high ESG standards

  • Granted Mining Lease tenure in premier location for skills, infrastructure and resource project operation
  • The Kalgoorlie Nickel Project hosts a Mineral Resource which ranks top of GSWA’s table of Australian Nickel Cobalt resources
  • PFS shows KNP Goongarrie Hub will be a multi-decade operation to meet the global demand for Ni & Co
  • 2023 PFS indicated low-cost Ni & Co, strong earnings for over 40 years plus upside DFS is current
  • Ardea continues to improve their ESG credentials with an environmentally responsible approach at all stages of development
  • Ardea, Sumitomo Metal Mining and Mitsubishi Corporation complete binding Shareholder Agreement to develop the KNP – Goongarrie Hub

The KNP is located 70km north of the City of Kalgoorlie-Boulder, Western Australia – a world-class mining jurisdiction providing extensive existing infrastructure and a skilled work force.

The KNP Mineral Resource Estimate contains a total of 854Mt @ 0.71% Ni and 0.045% Co for 6.1Mt nickel and 386kt cobalt contained metal (Mineral Resource Estimate, JORC Code (2012)).ASX The Goongarrie Hub within the KNP was the subject of the 2023 Prefeasibility Study which showed that the Goongarrie Hub will be multi-decade, large scale, low cost operation with strong production and earnings.ASX

On 26 April 2024, a major milestone was achieved with Ardea's Strategic Partner process, on execution of the Cooperation Agreement with Sumitomo Metal Mining and Mitsubishi Corporation to form a Joint Venture to develop the KNP Goongarrie HubASX and on 30 August 2024, Ardea, Sumitomo Metal Mining and Mitsubishi Corporation completed binding Shareholder Agreement meeting all conditions precedent.ASX The KNP Goongarrie Hub Definitive Feasibility Study has commenced.

Ardea is continuing Critical Minerals exploration to maximise the value of their strategic KNP ground holding.

Advanced-stage exploration at compelling nickel sulphide targets, such as Kalpini, and Critical Minerals targets including lithium, scandium and Rare Earth Elements throughout the KNP Eastern Goldfields world-class nickel–gold province, with all exploration targets complementing the KNP nickel development strategy.