Technology Metals Australia Limited announced the execution of a binding vanadium pentoxide Offtake Agreement with CNMC (Ningxia) Orient Group Company Ltd. over vanadium production from its wholly owned globally significant, long life, low cost, large scale Gabanintha Vanadium Project. CNMNC's vanadium alloy production business, CNMC Ningxia Orient Group Special Materials Co. Ltd., produces vanadium nitrogen alloys and ferrovanadium for use in the Chinese steel industry. During the period of negotiating the Agreement, CNMNC introduced the Company to its parent entity, China Nonferrous Metal Mining (Group) Co. Ltd. to discuss Project support, including scope for financing and EPC arrangements via its sister company, China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd. The collaborative and co-operative approach of the negotiations bodes very well for the companies' future relationship. This Agreement is a key milestone for progressing the development of GVP, including EPC and financing discussions, and underscores the importance of delivering a very high quality DFS and a very high purity vanadium pentoxide (V2O5) product. This binding Agreement is a key step in delivering certainty on volume and pricing of product sales, creating a strong foundation for GVP's financing and development. The minimum annual sales quantity of 2,000Tpa (4.4 Mlb pa) on a take-or-pay basis equates to about 16% of the GVP's forecast annual average production. These sales would generate annual revenue of approximately AUD 50 million, or AUD 300 million over the full six year term of the agreement, based on the current European V2O5 price of USD 7.18/lb1 as quoted on FerroAlloyNet.com and a 0.64 AUD /USD exchange rate. The Agreement is subject to terms and conditions typical of similar agreements. Executing this Agreement with a high quality counterparty such as CNMNC is a strong endorsement of the Company's strategy to develop the World class large scale, low cost, long life Gabanintha Vanadium Project and underscores TMT's intention to become a high purity vanadium pentoxide producer of choice.