Strandline Resources (ASX: STA) is pleased to report on the strong progress being made to secure debt funding for its Coburn mineral sands project in WA.

Negotiations with a group of potential lenders, including the Federal Government's Northern Australia Infrastructure Facility (NAIF) are advancing.

As part of this process, SRK Consulting (Australasia) Pty Ltd (SRK) has been appointed as Independent Technical Expert (ITE) to review the technical aspects of Coburn on behalf of the lenders. The outcome of the ITE process is expected to feed into the selection of preferred lender(s) and will play a key role in securing debt funding.

Coburn is one of the largest and most capital-efficient mineral sands projects in the world, with an exceptional zircon-titanium product suite, low costs and ability to generate strong financial returns. It is situated in the wellestablished mining jurisdiction of Western Australia, close to key infrastructure and the dominant mineral sands market of Asia.

In conjunction with financing activities, Strandline is working with engineering and contracting firms on the major procurement and construction packages. The early works site surveying and detailed design of the bulk earthworks and main access road packages have already been awarded.

Strandline has entered into an exclusive period with the Woodside-EDL Joint Venture (WEJV) as the preferred power provider for Coburn, based on the development of an innovative hybrid gas and renewable energy solution. Contract documentation and refinement of WEJV's technical solution is well underway.

Tenders have been received for several major construction packages, including the process plant infrastructure, with early indications that prices will be in line with DFS capital estimates. The Company is also well advanced in negotiations with global counterparties for offtake agreements for all of Coburn's products.

A critical element of the Project is the Company's approach and long-term commitment to regional socioeconomic benefits, indigenous and stakeholder engagement and Australian Industry Participation. This work is ramping-up as the project moves closer to implementation.

Coburn's long life and location has strategic appeal and importantly, its products of zircon, titanium and monazite containing rare earths are classified as Critical Minerals and are considered vital to the economic wellbeing of the world's major and emerging economies.

Given the supply risks associated with geological scarcity, geopolitical issues, trade policy and other factors, Coburn is a particularly valuable asset. Strandline Managing Director Luke Graham said: 'Coburn is set to be a Tier-1 mineral sands project in a Tier-1 location and will transform Strandline into a company with production scale and strong cashflow.

'The project is development-ready and has access to existing key infrastructure. When this is combined with a Board and a management team with a strong track record of developing projects of a similar scale, it is clear that Strandline is positioning for a phase of rapid growth.

'We are delighted with the initial feedback from lenders, contractors and potential customers and look forward to finalising all these arrangements so that construction can commence.'

ABOUT SRK CONSULTING

SRK Consulting is an independent, international consulting company providing focused advice and solutions to the resources industry. SRK offer specialist services to mining and exploration companies for the entire life cycle of a mining project, from exploration through to mine closure.

ABOUT STRANDLINE

Strandline Resources Limited (ASX: STA) is an emerging heavy mineral sands (HMS) developer with a growing portfolio of 100%-owned development assets located in Western Australia and within the world's major zircon and titanium producing corridor in South East Africa. Strandline's strategy is to develop and operate high margin, expandable mining assets with market differentiation and global relevance.

Strandline's project portfolio contains high quality assets which offer a range of development options and timelines, geographic diversity and scalability. They include two zircon-titanium rich, 'development ready' projects, being the Fungoni Project in Tanzania and the large Coburn Project in Western Australia, as well as a series of titanium dominated exploration targets spread along the highly prospective Tanzanian coastline, including the advanced and large scale Tajiri Project in northern Tanzania.

Contact:

Tel: +61 8 9226 3130

Email: enquiries@strandline.com.au

FORWARD LOOKING STATEMENTS

This report contains certain forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside of the control of Strandline. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay, approvals and cost estimates. Actual values, results or events may be materially different to those contained in this announcement. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this announcement reflect the views of Strandline only at the date of this announcement. Subject to any continuing obligations under applicable laws and ASX Listing Rules, Strandline does not undertake any obligation to update or revise any information or any of the forward looking statements in this announcement to reflect changes in events, conditions or circumstances on which any forward looking statements is based.

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