Magnis Resources : Townsville Lithium-ion Battery Plant Update

• Site selection process nearing completion
• Strong support continues from the Queensland State Government and Townsville City Council

Magnis Resources Limited ('

In recent weeks, meetings have taken place with senior officials of Townsville City Council and Members of Parliament in the Queensland State Government with a high level of support for the project. This resulted in the identification and provision of a number of potential local council and state development sites, which meet the consortium's criteria. These are being assessed by

Site selection is a key milestone which will demonstrate the commitment by all parties including the local and state government to

To date, a high level of local and overseas interest has been received for both the funding of the project and for offtake. Further details on both these issues will be reported as they come to hand.

Chairman of Magnis Resources Frankcommented: 'The level of interest coming through for the Townsville Gigafactory is extraordinary. Being able to create a sustainable supply chain that bypasses the current major battery producing nations is something that really appeals to potential end users and investors.'

Boston Energy and Innovation Director Corey Cooney added: 'Today's announcement is an important step forward for the Townsville battery plant. We are getting huge support from Queensland State Government and Townsville City Council. We will look forward to continuing this collaboration towards bringing this project online.'

The consortium led by Boston Energy and Innovation consists of

For further information:
Frank Poullas
Chairman
Magnis Resources Limited
[phone]
www.magnis.com.au