Bulk Ore Sorting Delivers Exceptional 13x Tin Grade Uplift

· Excellent ore sorting results achieved from four bulk samples totalling over 75 tonnes, processed using a full-scale TOMRA XRT Ore Sorter in a two-stage circuit. The overall outcomes of the two stages are:

-Stage 1 Sorting: Tin upgraded from 0.17% Sn to 2.32% Sn (a 13x increase) with +94.8% Sn recovery in total.

-Stage 2 Sorting: Further upgrade to 10.8% Sn (a further 4.6x increase on Stage 1) with a +70% Sn recovery.

· Mass reduction of over 93% achieved with Stage 1 expected to significantly reduce the potential CAPEX and OPEX for any future mining operation at Tallebung.

· Silver and tungsten also upgraded with high recoveries achieved. The average for silver showed:

-Stage 1 Sorting: Silver upgraded from 7.44g/t Ag to 75.9g/t Ag (a 10x increase) with +80% Ag recovery in total.

· The results validate the scalability of SKY’s prior metallurgical testwork and confirm the effectiveness of ore sorting, even in highly weathered surface mineralisation—likely the least favourable zone of the deposit for ore sorting due to its friable nature.

· Bulk samples will now undergo Dense Medium Separation (DMS) at ALS Perth, followed by pilot-scale gravity processing at ALS Burnie to produce a saleable tin concentrate for off-take marketing.

SKY Managing Director & CEO Oliver Davies commented: “These outstanding results are a major milestone for SKY. Achieving strong grade upgrades and high recoveries in a large bulk sample confirms and improves on the past testwork, while further demonstrating the scalability and reliability of our ore sorting strategy. Tallebung’s geology—characterised by ubiquitously large, discrete cassiterite grains in shallow veins—is ideally suited to ore sorting technology, enabling exceptional performance even in challenging zones, as were excavated for the bulk sample.

“The bulk sampling program reinforces the opportunity to substantially reduce future OPEX and CAPEX with over 93% of the mass removed in this testwork while maintaining exceptional tin recoveries. With pilot-scale gravity processing to follow and further drilling results imminent, SKY is well-positioned to continue accelerating the Tallebung Project towards development.”