Metallica Minerals : Quarterly Report for period ending 31 March 2023

1.

2.

3.

Maiden Inferred

Progress on DFS for

Meetings held with

Resource of 12Mt for

Silica Sand Project

various potential offtake

CFS West Project

customers and investors

(see page 7)

The Cape Flattery Silica Project is adjacent to the

Environmental Studies

world class Cape Flattery Silica Sand mining and

The Company, along with our external environmental

shipping operation owned by Mitsubishi.

During the March 2023 quarter, the Company

consultants, have completed an array of

environmental studies at the CFS project. These

continued to advance through numerous studies,

studies have included soil sampling, ecological

approval processes and stakeholder engagement

studies and water monitoring.

activities that are all key components of our project

The lodgement of the Environmental Application

development for the Cape Flattery Silica Sand Project.

and Progressive Rehabilitation and Closure

Definitive Feasibility Study underway

Plan (PRCP) with Queensland Department of

Environment and Science (DES) has been delayed

The Definitive Feasibility Study (DFS) is underway

while the Company waits to receive the Terms of

Reference from the DCCEEW.

and remains on track for completion in 2023.

Key study areas progressed during the March

Traditional Landowner update

Quarter include continued investigation of

transhipping operations, transhipping vessel

To date, six meetings have been held with the

selection and location of key project infrastructure.

negotiation representatives of the clans who are the

traditional landowners of the planned Mining Lease

Federal Environmental Approval process

Application (MLA) area. The Company has met with

the Dingaal and Nguurruumungu representatives

During the December 2022 quarter the Company

and their respective legal advisors and the

negotiations are continuing.

submitted a Referral under the Environment

Protection and Biodiversity Conservation Act 1999

In January 2023, the Company presented the project

(EPBC Act) for the Cape Flattery Silica Sand Project.

to the Board of Directors of Hopevale Congress

The Federal Department of Climate Change, Energy,

Aboriginal Corporation (Trustee Landowner). The

meeting was the first formal presentation with

the Environment and Water (DCCEEW) assessed the

Hopevale Congress since the appointment of a new

Referral and 18 January 2023 determined that the

Board of Directors and legal representative.

CFS project is a Controlled Action under Section 75

of the EPBC Act requiring assessment and approval

Importantly, the negotiations have been held in a

under the EPBC Act prior to final approval.

professional and respectful manner with significant

On 20 February 2023, DCCEEW announced that the

information on the project being shared with the

negotiating parties from each clan. Executive

assessment will be through an Environmental Impact

Chairman Theo Psaros met with representatives

Statement (EIS).

of the Dingaal and Nguurruumungu in April 2023.

A Terms of Reference document will be issued by

Negotiations are planned to resume in late June,

DCCEEW and this will outline the additional studies

early July 2023.

to be undertaken. To date significant environmental

studies have been undertaken which will be used

towards the requirements for the EIS.

EPM 25734

LEGEND

Cape Flattery land mass

MLA

Coral Sea

EPM - Metallica Minerals

Mine Lease Area

ML - Mitsubishi Corporation

Cape Flattery Port limit

Metallica Minerals -

Cape Flattery Port limit

proposed export solution

Mitsubishi Corporation -

existing maritime infrastructure

Mitsubishi Corporation - existing

airport (private)

Roads

1 km