Opportunity to Acquire a Strategically Located Heavy Mineral Sands Project with a Resource of 101Mt @ 4.5% HM

Astute Metals NL (ASX:ASE) (Astute or the Company) has appointed Argonaut PCF Limited (Argonaut) to seek indicative offers for its wholly owned Governor Broome Heavy Mineral Sands Project (Governor Broome or the Project) located near Augusta, in the South West Region of Western Australia (the Transaction).

Governor Broome hosts a 101Mt @ 4.5% Heavy Mineral (HM) Resource with tangible upside opportunities identified through Astute’s recent 2024 Scoping Study.

Parties interested in the process are requested to register their interest by contacting Argonaut. Submission of Non-Binding Indicative Offers are due on ore before 5:00pm (AWST) Thursday, 22 August 2024.

1.2024 Scoping Study commodity prices: Ilmenite US$286/t, Secondary Ilmenite US$338/t, Rutile US$1,694/t, Zircon US$1,745/t, Garnet US$302/t and Monazite Concentrate US$1,400/t.