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]Ferro-Alloys.com\ Discussions with Saudi Government for processing of Vanadium magnetite progressing well; Victory Bore Pre-feasibility on track; Vanadium extraction and HPA assessment advancing; Yidby Gold extraction test work nearing completion

Surefire Resources NL (“Surefire” or “the Company”) is pleased to provide an update on its 100% owned projects in Western Australia.

Victory Bore Project

Surefire is progressing the Victory Bore project at a key time when global markets have an increasing demand for vanadium in both traditional steel, and emerging Vanadium Redox batteries.

The Company is currently undertaking completion of highly detailed work as part of a Pre-Feasibility Study (PFS) economic assessment, together with value adding initiatives in novel vanadium extraction and High

Purity Alumina extraction potential. Surefire is progressing the Victory Bore project at a key time when global markets have an increasing demand for vanadium in both traditional steel, and emerging Vanadium Redox batteries.

Pre-Feasibility Study (PFS)

The PFS is progressing on track for comple??on by November 2023.

High Purity Alumina (HPA)

This work is being conducted in parallel with the PFS. It comprises a separate study on the potential for production of High Purity Alumina (HPA) from the waste and host rock at the Victory Bore Vanadium project.

Initial results have shown that production of 4N (99.99%) HPA is achievable from the Victory Bore material and a new test work programme to increase recovery of Al203 for scoping study purposes is being progressed.

Vanadium Processing Plant in Kingdom of Saudi Arabia

The company executed a Memorandum of Understanding (MOU) with the Ministry of Investment, Kingdom of Saudi Arabia (MISA), for mineral processing opportunities of high-grade ore from its 100% owned Victory. Bore Vanadium and High Purity Alumina project

• [Editor:tianyawei]