Magnetite Mines Limited announce it has entered in to an agreement with NextOre Pty Ltd. to supply a mobile bulk ore sorting plant using a Magnetic Resonance (MR) sensor for a trial of the technology to the Razorback High Grade Iron Ore Project (Razorback Project). This advances exclusive partnership with NextOre and is an important step in journey to unlocking the potential of the Razorback Project. The Company is excited by the potential of the NextOre technology to enhance processing of by 'pre-concentrating' run of mine ore feed to increase plant head grade. The NextOre agreement includes a non-refundable deposit of $100,000 and contemplates further, staged payments of $700,000. The scope of the agreement covers supply of a full-scale mobile ore sorting plant to site at the Razorback Project for sorting magnetite ore using MR technology during the trial period for the purpose of mine feasibility analysis. The agreement includes milestone dates, with the equipment despatch from the CSIRO Lucas Heights facility in 2021.