Firebird Metals Limited provide a development update on its Oakover Manganese Project ("Oakover"). Firebird has completed successful leaching testwork on each ore domain from Oakover, which is the first stage of testwork required for developing and producing High Purity Manganese Sulphate Monohydrate (HPMSM) for the Battery Industry. Multiple scouting leaching tests were completed on Oakover Mn feed, which had been crushed, screened and scrubbed, but not beneficiated further (ore sorted/DMS).

Testwork feed was generated from diamond drill core from all manganese ore domains at Sixty Sixer, Jay-Eye and Karen deposits. This round of testwork proved very effective and delivered excellent Mn extraction results and importantly, provides to the Company with ideal stoichiometric ratios for next stage precipitation reactions and impurity removal, with a view to ultimately produce HPMSM crystals. Key results from the program include: Ore amenable to reductive acidic leaching.

93-97% Mn extraction in 4 hours. Heat generated by the reaction. Mn concentrations of 70-140 g/l in Pregnant Leach Solution.

Following positive results from the initial stage of the hydrometallurgical testwork program, Firebird has immediately commenced a HPMSM Scoping Study. Key focus areas of the Scoping Study comprise of: Further leaching test work. Conducting impurity precipitation and removal test work.

Conducting HPMSM crystallization testwork on purified liquors. Confirming hydrometallurgical flowsheet concept using testwork and simulation. Conducting preliminary cost studies, targeting most economic process for production of HPMSM.

Combining key development aspects from the Manganese Concentrate Scoping Study. Marketing study on the industry demand/supply and pricing. Firebird will now move to the next phase of testing which is impurity removal.

This is a critical step in the processing phase, with successful completion required to meet strict specifications for production of battery grade high purity manganese sulphate. Firebird expects the timeframe for completion of the Scoping Study to be within the next 12 months. The primary market and major consumer of manganese remains the steelmaking sector, which continues to display robust, long-term demand fundamentals for manganese ores and concentrates.

There is no substitute for manganese in steel. Importantly, demand for manganese from the lithium-ion battery sector for use in electric vehicles continues to grow exponentially, forming another major market for supply and consumption. It is estimated around 90kg of Manganese is used per electric vehicle (CPM Group).

Manganese is an important chemical compound within the battery cathode and plays a critical role in NMC (Nickel, Manganese, Cobalt) batteries. Recent new developments led by Chinese battery giant Contemporary Amperex Technology Co., Limited (CATL) has seen manganese being introduced into Lithium Iron Phosphate Batteries (LFP), with the new battery known as Lithium Manganese Iron Phosphate (LMFP). LFP batteries are used in both electrical vehicles and within the broader energy storage sector.

Electric vehicle and battery cathode manufacturers have announced a desire to increase manganese content to improve battery and electric vehicle cost competitiveness while maintaining energy density. The growing electrical vehicle market and battery cathode changes will lead to greater demand and growth for High Purity Manganese sulphate.