Buxton Resources Ltd. updated shareholders on progress at Buxton's 100% owned Graphite Bull project, Gascoyne Region, WA. The "sighter" flotation testwork program begun in November is now complete. Latest key outcomes are tabulated below.

The excellent concentrate grades, high recovery, consistency and convergence of results from two independent facilities have exceeded all Buxton's expectations. This is the first flotation testwork at Graphite Bull since 2015 and is also the first work specific to Purified Spherical Graphite (PSG) production for Li-ion battery anodes. Battery Limits Pty Ltd. (BL) and Independent Metallurgical Operations Pty Ltd. (IMO) were engaged to manage this work collaboratively.

Buxton thanks both consultants for their efforts and results to date, and going forwards. This program optimised conventional graphite flotation processing, without either chemical or thermal purification. Achieving concentrate grades of over 98% TGC by flotation alone is a superb result and indicates purification to battery quality should be straightforward.

These results surpass requirements for commercial PSG feed. A total of seven bench tests have been completed. These results mark a major technical milestone, and were so robust, later tests could be focussed on simplified processes amenable to scale-up for the 80 kg bulk run to generate concentrate.

That next stage of work is already underway. The next milestone, anticipated for mid-April, will be dispatch of >10kg of concentrate to consultants in Germany for PSG and battery anode amenability testwork. Progressive results from that work are expected between June and August.

Demand for Li-ion batteries, fuel cells and other graphite-intensive renewables technology continues to escalate, pushing the global graphite market into deficit for the first time in modern history. Buxton looks forward to providing regular updates to shareholders on this exciting WA graphite project.