Horizon Minerals Limited announced an update of the Pre-Feasibility Study (PFS or Study) of the Richmond-Julia Creek vanadium project located in Central North Queensland. The Richmond ­ Julia Creek Vanadium Project is located approximately 50km north-west of Richmond in Northwest Queensland. Richmond is a regional service town of 520 people situated 500km by road to the west of Townsville and 400km east of the mining town of Mt Isa. Highlights: Updated Pre-Feasibility Study completed for the Richmond ­ Julia Creek vanadium joint venture project, 500km west of Townsville in Queensland JV Partner RVT's AUD 6 million earn-in complete with Horizon retaining a 25% interest. Vanadium is an emerging green energy storage mineral with the globally significant 1.8Bt project included in the Federal Government's Critical Minerals Prospectus 2020. The Mineral Resource for the advanced Lilyvale deposit within the project area stands at: 560Mt grading 0.48% V2O5 for 2.6Mt V2O5 at a 0.30% lower cut-off. The maiden open pit Ore Reserve at Lilyvale is estimated at: 459.2Mt at 0.49% V2O5 for 2.25Mt of contained V2O5 product. Updated Pre-Feasibility Study based on an initial 25-year life (25% of Ore Reserve) demonstrating a financially strong project with the following key metrics: Shallow low impact open pit mining producing 101.5Mt of oxide ore at a fully diluted grade of 0.49% V2O5 for 19.75Mt of 1.82% V2O5 with concentrate production on site. Refining overall recovery at 86.1% produces 317,500 tonnes of 98% V2O5 commercial grade flake with average annual production of 12,700t V2O5. JV partners to now advance the project to DFS level for completion in 2022 inclusive of offtake arrangements and all environmental and statutory approvals for project development.