Technology Metals Australia Limited provided an update on metallurgical testwork activities at its Gabanintha Vanadium Project. The initial production generation testwork, involving the precipitation of ammonium metavanadate and subsequent generation of high purity V2O5 product from a ~60kg composite sample of high grade massive magnetite mineralisation, has now been completed. This work has delivered a V2O5 product with a purity of 99.53% from an ammonium metavanadate precipitate that recovered >98% of vanadium from a leach solution generated from salt roasting of the magnetic concentrate from Gabanintha. This work further confirms that the wholly owned Gabanintha deposit is amenable to producing very high purity V2O5 using conventional salt roast /water leach processing, with relatively low reagent consumption and without the requirement of additional costly contaminant removal steps. Both the solution and final product produced from this testwork are regarded as extremely clean and low in solution impurities. Gabanintha hosts an Ore Reserve of 16.7 Mt at 0.96% V2O5, contained within an Indicated Mineral Resource of 21.6 Mt at 0.9% V2O5 in the Northern Block. Ongoing drilling as part of the DFS is focused on expanding the Indicated Mineral Resource within the current Global Mineral Resource estimate of 119.9 Mt at 0.8% V2O5 and 9.7% TiO2. The definitive feasibility study (‘DFS’) on the development of the Project has made significant progress since formal commencement on Tuesday 31 July 2018, with the team of experienced industry expert consultants focused on delivering a high quality outcome in a time frame to support the rapid development of this outstanding project. The DFS team is being managed on behalf of the company by Wave International (‘Wave’) as the lead consultant supported by a range of industry leading consultants including METS Engineering, CSA Global and Integrate Sustainability. The DFS is scheduled for completion in the June quarter 2019. Work completed to date includes: Progression of metallurgical testwork, including work on generation of final product sample to provide to potential off-take partners; Investigation of local process water solutions; Progression of environmental and heritage studies in support of advancing mining lease grant and statutory approvals; Ongoing development of detailed process flow diagrams; Progress process plant engineering and design; Engineering concept designs for crushing circuit and stockpiling; Progression of development of site infrastructure layout plans; Commencement of design development for non-process infrastructure; and Issue of tenders for process plant vendor testwork services.