The Board of Technology Metals Australia Limited provided an update on the workstreams underway designed to integrate the updated Mineral Resource Estimate ("MRE") for the Yarrabubba Project ("Yarrabubba") into the enlarged Murchison Technology Metals Project ("MTMP"). The "Integration Study" is designed to optimise the integration of Yarrabubba ore, which was not included in the Gabanintha Vanadium Project ("GVP") definitive feasibility study ("DFS"), into the expanded MTMP. This study benefits from the detailed engineering and metallurgical testwork completed for the GVP DFS and will deliver optimised production, operating costs, capital costs and financial model to enable the progression of project financing. Importantly, the integrated MTMP provides an opportunity to bring forward the delivery of vanadium production relative to the previously contemplated staged development strategy. The Murchison Technology Metals Project ("MTMP") consists of the Gabanintha Vanadium Project ("GVP") located on granted mining lease M51/883 and the Yarrabubba Project ("Yarrabubba") located on granted mining lease M51/884. A very high quality definitive feasibility study ("DFS"), incorporating process engineering design and comprehensive pilot scale metallurgical testwork, has been completed on the GVP. Yarrabubba was not included in the GVP DFS. The MTMP hosts a Global Mineral Resource Estimate1 ("MRE") (Inferred, Indicated and Measured) of 146.2Mt at 0.8% V2O5, including an outstanding high grade component of 79.8Mt at 1.1% V2O5. The Global Measured and Indicated MRE component of 50.2Mt at 0.9% V2O5 (30Mt at 0.9% V2O5 at GVP and 20.2Mt at 0.9% V2O5 at Yarrabubba) includes only fresh mineralisation based on high metallurgical recovery factors. The generally shallow overlying oxide and transitional mineralisation is currently categorised as Inferred mineral resource. Work is progressing on an "Integration Study" designed to optimise the integration of Yarrabubba ore into the expanded MTMP. Benefitting from the very high quality GVP DFS, the "Integration Study" is expected to be completed in mid 2022 and will deliver optimised production, operating costs, capital costs and financial model to enable the timely progression of project financing. The MTMP Global Measured and Indicated MRE is expected to support a project life in excess of 25 years. Importantly the integrated MTMP provides TMT with the opportunity to bring forward the delivery of vanadium production relative to the previously contemplated staged development strategy, supporting growth in vanadium consumption and the rapidly emerging Vanadium Redox Flow Battery ("VRFB") industry. There is also the opportunity to produce a highly sought after titanium co-product whilst Yarrabubba ore is being processed. Workstreams underway in support of the "Integration Study" include: Yarrabubba open pit mine design based on the updated MRE; Open pit mine scheduling to optimise the sequencing of ore sources across the MTMP; Infill diamond drilling at Yarrabubba to collect a bulk sample for metallurgical testwork /product generation and to convert a portion of the MRE to the highest confidence Measured category; Updated MRE and Ore Reserve estimate for the MTMP, incorporating the infill diamond drilling at Yarrabubba; Variability and grind liberation testwork on Yarrabubba ore to optimise both vanadium and titanium recoveries; Batch kiln roast - leach testwork at the kiln vendor's testing facility in Pennsylvania to complement the pilot scale roast - leach testwork completed GVP magnetic concentrate; Pilot scale testwork on the bulk sampling being collected from Yarrabubba to generate a representative magnetic concentrate and sufficient non-magnetic tails to undertake titanium recovery testwork; Optimisation of the GVP DFS design work to "right size" the process plant throughput to ensure optimal production rates and operating parameters; and Engagement with engineering groups to progress the implementation strategy for the evelopment of the MTMP.