Tyranna Resources Ltd. announced that preliminary metallurgical testing of a bulk sample of lithium pegmatite from the Muvero Prospect has been completed. The bulk sample was collected in July 2022 from rubble derived from a small pit excavated into the pegmatite. Highlights: Exceptional concentrate quality produced at high recovery, Concentrate Grade of 6% Li2O or more, Low Impurities, e.g., < 0.11% Fe2O3, 80%- 82% Recovery; Spodumene concentrate can be produced from either 12mm or 8mm crush, much coarser than most deposits; XRD confirms spodumene dominates the lithium mineralisation; Results support potential of Muvero to be a source of high-grade Direct Shipping Ore (DSO).

Overview of the Metallurgical testing: Tyranna commissioned highly respected industry expert Mr. Noel O'Brien, a metallurgist with extensive experience with lithium pegmatites, to design, monitor and guide the metallurgical testing procedure and interpret the test results. The sample of pegmatite ore was submitted to Nagrom Laboratories in Perth, Western Australia, for initial metallurgical testing. Summary of the Metallurgical testing results: The sample was crushed to 20mm, blended and sub-samples taken for head analysis and mineralogical determination by semi-quantitative XRD.

A further two samples were crushed to 12.5mm and 8mm and wet screened at 0.85mm for gravity testing using heavy liquid separation (HLS) techniques. Wet Screening: After crushing to 12.5mm and 8mm, the samples were wet screened at 0.85mm to remove fines before HLS testing. A bottom size of 0.85mm was chosen as it is considered to be the lowest practical size to screen crushed ore in plant operation.

Fines are removed before Dense Media Separation (DMS) processing as this material does not beneficiate well in DMS circuits. These data reveal three favourable features of the sample processed: A high head grade in excess of 3% which would be attractive as direct shipping ore (DSO) or which can produce very high-grade concentrates, >7% Li2O if required, in addition to the more frequently produced 5.5%-6% concentrates; The quantity of fines (-0.85mm) produced is low for these crush sizes compared to other pegmatites, which demonstrates the ore is hard and competent. Typically, the fines are not beneficiated through DMS, but will be either sought after as DSO, or may respond to beneficiation by spirals or flotation.

This will be tested in the next series of tests; The iron content, at 0.11% Fe2O3, is low by comparison and will produce sought after low iron concentrates. Heavy Liquid Separation (HLS): The two screened samples were tested at four different heavy liquid specific gravities to determine the response of the ore to standard DMS gravity separation. When normalised to 6% concentrates, the HLS data shows around 80% of the contained lithia is recovered into 50-55% of the overall mass processed.

This result compares very favourably to other spodumene operations where recoveries of around 55% to 65% are the norm. The HLS data also reveals that lepidolite, which was identified in the XRD mineralogy and as indicated by the K2O content, is prevalent in the 2.9 floats fraction. This would not normally present an issue in practice as the DMS can be controlled to reject this density fraction for separate treatment.

Conclusions: These results are highly encouraging and confirm the potential for the Namibe Lithium Project to produce very high quality spodumene concentrate, potentially entirely through DMS processes, and utilising a very coarse crush; Assuming utilisation of a very coarse crush and DMS, processing costs will be less expensive than other operations where a fine crush and flotation separation is required; Additional metallurgical sampling, to enable completion of additional supporting metallurgical test work, is warranted. Next steps: In the coming weeks, Tyranna will complete fieldwork testing some remote targets within the Namibe Lithium Project and initiating access and site-works preceding the next drilling campaign. The next drilling campaign is likely to commence in May or June, will include deeper drilling at the Muvero Prospect, along with drilling of at least two additional prospects, and will be described in some detail in an announcement closer to commencement.