Mayur Resources Limited present an update to the Central Cement and Lime (CCL) Project Definitive Feasibility Study (DFS), originally delivered in 2019. This updated DFS is focused solely on the first phase of an amended two-phase development schedule being: Prioritised and expanded 400ktpa quicklime/hydrated lime plant (doubling the 200ktpa capacity from the 2019 DFS), and additional 500ktpa of raw limestone production with wharf and associated infrastructure (CCL Phase 1); and The CCL Phase 1 DFS follows the Company's strategic review released in October 2021, where a decision to prioritise the phased development of the CCL project was taken, given the importance and growing criticality for quicklime in future facing minerals. The Updated DFS for CCL Phase 1 demonstrates that project phasing yields: A significantly lower upfront capital requirement; High economic viability; Rapid delivery of quicklime product into an escalating price and demand environment; and A swifter pathway to cashflow generation.

CCL Phase 1 is set to deliver low-cost, high-quality local and seaborne high grade raw limestone and quicklime products to be supplied to numerous existing markets and future-green facing mineral industries. Construction of CCL Phase 1 is subject to financing with site works scheduled to begin as early as Fourth Quarter 2022.