10 FINANCIAL REPORT ALLUP SILICA Year Ending 30 June 2023 ALLUP SILICA LIMITED DIRECTORS’ REPORT Review of Operations (continued) The Company conducted further work including chemical analysis and metallurgical studies to assess the potential value of the silica sand on its tenements. This included investigations on novel and/or nonchemical (no acids) processing techniques for the silica sand, with the objective of finding the best commercial pathway to process the raw silica sand to higher purity marketable specifications. Highlights during the Period include: Sparkler Silica Sand Project Metallurgical testwork produced premium high-grade low-iron silica sand. Commencement of studies for MLA. Bulk Sample sent for scaling Metallurgical testwork and Process Plant design. Heritage surveys completed across all Sparkler tenements. Heritage Approval for current Provision-of-Works issued across all Sparkler tenements. Pink Bark Silica Sand Project Heritage Approval issued for current Provision-of-Works. Maiden drilling program complete. Identified prospective REE on the tenement. Heritage survey completed across prospective areas. Provision-of-Works submitted and approved for Stage 2 exploration program. Dune Buggy Silica Sand Project Maiden surface sampling and hand auger program completed. Commercial Ag-lime product produced from the CaCO3 stream with moderate grades achieved on silica sand stream. Various mineralogical testwork and research and development programs are ongoing to investigate potential processing techniques for this type of sand. Cabbage Spot Silica Sand Project Provision-of-Works approved for Stage 1 exploration program. Provision-of-Works approved for Stage 2 exploration program. Heritage Notice submitted to the Kimberley Land Council (KLC).
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