Sarytogan Graphite Limited announced final round of drilling results from the 2022 drilling campaign at the Sarytogan Graphite Deposit in Central Kazakhstan. All assays from 2022 drilling program now received. Significant graphite intercepts above 25% Total Graphitic Carbon returned around the margins of the Central Graphite Zone within the existing 209Mt @ 28.5% TGC Inferred Mineral Resource include1: 13.3m @ 33.6% TGC from surface incl.

4.4m @ 37.9% in St-94 5.5m @ 29.3% TGC from 1.3m and 69.1m @ 25.3% from 12.3m incl. 7.1m @ 39.5% and incl. 4.0 @ 36.5% and 13.6m @ 21.3% from 91.6m in St-97 22.9m @ 31.2% TGC from surface incl.

6.0m @ 36.3% in St-98 Near surface high-grade graphite confirmed with close spaced drilling in the Northern Graphite Zone returning the following intersections: 26.8m @ 30.4% TGC from surface ending in mineralisation in St-99 47.6m @ 31.3% TGC from surface incl. 13.9m @ 40.2% and incl. 6.8m @ 37.0% in St-100 Mineral Resource upgrade due in First Quarter 2023 focussing on estimating a proportion of Indicated resources as well as increasing the total tonnage.

Central Graphite Zone Results All assays for the 46 HQ3 diamond drill holes drilled for 3044.6m from the 2022 drilling program have now been received. Holes St-92 to St-98 are situated around the margins of the CGZ and complete drilling coverage at a nominal 200m x 100m across the CGZ. Northern Graphite Zone Results Two additional holes (St-99 and St-100) were drilled in the NGZ, which already has many areas drilled at a nominal 100 x 50m spacing.

The holes were drilled in an area of the deposit which preliminary whittle optimisations of the existing 209Mt @ 28.5% TGC Inferred Mineral Resource1 have identified as an area or particularly high-grade near-surface mineralisation. These high- grade zones could well be the focus of initial mining operations. The high-grade near-surface nature of the mineralisation was confirmed with results of 26.8m @ 30.4% TGC from surface ending in mineralisation in St-99 and 47.6m @ 31.3% TGC from surface incl.

13.9m @ 40.2% and incl. 6.8m @ 37.0% in St-100. Next Steps for the Sarytogan Graphite Project Optimisation work at both Australian and German laboratories is ongoing following on from excellent early results from 2022 that returned up to 99.87% TGC purity2.

A Mineral Resource upgrade, focussing on estimating a proportion of Indicated resources as well as increasing the total tonnage, is now underway ahead of further metallurgical test-work and economic evaluation.