Queensland Pacific Metals Limited announced that it has entered into a binding ore supply agreement with Société des Mines de la Tontouta ("SMT). SMT was one of the original supporters of QPM and the TECH Project and QPM have formalised this agreement with SMT. In combination with the ore supply agreement executed with Société Le Nickel ("SLN"), QPM has now contracted its ore supply requirements for the TECH Project .

10 year ore supply agreement, expected to commence in 2023 (6 month notice period required by QPM ahead of first cargo) Up to 600,000 wmt per annum. Pricing details: Commercial in confidence, linked to underlying price of Ni (LME exchange) and Co(Metal Bulletin) on an FOB basis. Typical termination clauses including Force Majeure, material breach andinsolvency.

As part of the Agreement, SMT and QPM have also agreed to explore further opportunities that are mutually beneificial including investment and other commercial arrangements.