Star Phoenix announce that it has signed a non-binding agreement with a national university in Australia, Curtin University to jointly explore, appraise and develop natural Hydrogen ("H2") opportunities in Western Australia. At this stage the term sheet is non-binding, subject to various approvals, including the preparation of documentation and negotiations may be discontinued at any time. Accordingly, there can be no guarantee that this arrangement will progress and a further update will be provided in due course if this arrangement is formalised. Under the Term Sheet, the Company has agreed it will look to put an agreement in place pursuant to which it will work in collaboration with the University. Both parties would undertake an initial low-cost work programme over two years from execution of any agreement. The aim would be to appraise natural H2 production points in Western Australia, specifically in areas having a high iron-rich content and circular depressions. Any high priority areas that have the potential to produce large quantities of H2, would then be analysed to determine various parameters for potential future production.