Technology Metals Australia Limited announced the update of the Gabanintha Vanadium Project ("Project" or "GVP") Proven and Probable Ore Reserve estimate ("Ore Reserve") to incorporate the recently upgraded Southern Tenement Mineral Resource estimate ("MRE"). The Ore Reserve, completed by CSA Global, was prepared in accordance with the JORC Code (2012 Edition). The updated Ore Reserve of 39Mt at 0.9% V2O5 represents a 32% increase to the Ore Reserve included in the very high quality definitive feasibility study ("DFS") on the development of the globally significant GVP and includes the maiden Southern Tenement Probable Ore Reserve estimate of 9.4Mt at 0.97% V2O5. The expanded Ore Reserve supports an operating schedule that extends the GVP life of mine to 22.5 years, compared to an initial DFS life of mine of 16 years. GVP hosts a Global Mineral Resource estimate of 137.2Mt @ 0.9% V2O5, including an outstanding high grade portion of 75.1 Mt at 1.1% V2O5, and an Indicated and Measured Resource estimate of 39.6Mt @ 0.9% V2O5. The very high quality DFS on the development of the globally significant Gabanintha Vanadium Project was based on the Northern Block Mineral Resource (M51/883), delivering a Proven and Probable Ore Reserve of 29.6Mt at 0.88% V2O5 from a Measured and Indicated Mineral Resource of 30.0 Mt at 0.9% V2O5. An update of the Southern Tenement Mineral Resource (M51/884) resulted in an increased Mineral Resource estimate of 27.7Mt at 0.9% V2O5 including a high grade massive mineralisation zone of 14.4Mt at 1.1% V2O5, and a maiden Indicated Mineral Resource estimate of 9.6Mt at 1.0% V 2O5. The Southern Tenement area is located 15km southeast of the proposed GVP processing plant. The maiden Indicated Mineral Resource estimate includes a large proportion of the high grade massive mineralisation zone and consists of only fresh mineralisation, which has excellent vanadium recovery in to magnetic concentrate of 92% and 80% for fresh massive and fresh disseminated mineralisation types respectively. This mineralisation has delivered Project high average vanadium in concentrate grades of 1.48% V2O5 for the fresh massive magnetite mineralisation and 1.64% V2O5 for disseminated mineralisation. Open pit mine modelling and scheduling work has now been completed on the updated Southern Tenement Mineral Resource by independent consultant CSA Global. This work, incorporating metallurgical testwork results and geotechnical data from the 2018 diamond drilling, has resulted in the delivery of the maiden Southern Tenement Probable Ore Reserve estimate of 9.4Mt at 0.97% V2O5 prepared in accordance with the JORC Code (2012 Edition). The maiden Ore Reserve represents a very high 98% conversion from the Indicated Mineral Resource estimate. CSA Global completed a mining study and update of the GVP mining and processing schedule based on the combined GVP Proven and Probable Ore Reserve, targeting a production rate of 13,000 tonnes per annum V2O5 product. This work delivered a life of mine operating schedule of 22.5 years, a material increase to the initial 16 year Gabanintha project life identified in the DFS, based on a total inventory of 58.1Mt at 0.82% V2O5. The total inventory includes 47% Inferred Mineral Resource, although the first 11.9 years of the life of mine includes only 2% Inferred Mineral Resource. The majority of the Inferred Mineral Resource included in the ROM feed is within the banded and disseminated material and is processed towards the end of the life of mine. The updated schedule assumes mining of the Southern Tenement upon completion of mining the North Pit and Central Pit within the Northern Block. CSA Global conducted discounted cashflow ("DCF") analysis of the Southern Tenement using the economic assumptions from the GVP DFS and concluded that the Southern Tenement provided a positive impact to the Project's NVP. The Company believes that optimisation of the mining schedule to include the Southern Tenement earlier in the life of mine operating schedule has potential to further enhance this positive impact to the Project's NVP. The extension of the Project's initial life to 22.5 years is expected to be viewed very favourably by prospective Project financiers, strategic partners and key stakeholders.