Jervois Global Limited has completed an infill drilling campaign at its 100%-owned Nico Young nickel-cobalt project in New South Wales ("NSW"), Australia, as part of work initiated towards a Bankable Feasibility Study ("BFS"). Jervois's 100%-owned Nico Young nickel and cobalt deposits are comprised of mineralisation bodies held under separate but adjacent exploration licenses, "Ardnaree" and "Thuddungra". The project envisages heap leaching nickel and cobalt laterite ore to produce an intermediate mixed hydroxide precipitate ("MHP").

In prior roles, Jervois's Directors and Executives constructed, commissioned and operated the only commercially successful nickel - cobalt heap leach operation outside of China at Glencore's Murrin Murrin facility in Western Australia, which was based on ores similar to Nico Young. The funding supports further environmental and metallurgical testwork and will underpin environmental and infrastructure permitting required to advance the project's development. These studies are a critical element that will improve process definition, progress water access management and key Environmental Impact Studies ("EIS"), define the product path-to-market, de-risk the project and support project financing.

Funding for the complete BFS is subject of a separate application under the Australian Federal Government's Critical Minerals Development Program.