69 FINANCIAL REPORT ALLUP SILICA Year Ending 30 June 2023 listed entities of similar size and nature. The Company’s detailed corporate governance policy statement can be found on the Company's web site at: www. https://allupsilica.com/. Resource Statement The Company’s current resources are stated below and the Company confirms that there is no new information or data that materially affects the mineral resource estimate announced on 30 June 2022 and the exploration target announced on 18 April 2023, and that all assumptions underpinning the estimate continue to apply and have not materially changed. Size Fraction Method Yield % Tonnes SiO₂ % Al₂O₃ % Fe₂O₃ % TiO₂ % LOI % Inferred resource 70,000,000 96.84 1.17 0.34 0.43 0.66 coarse sand +0.6mm wet screen 36.5% 25,000,000 99.67 0.06 0.03 0.04 0.09 sand 0.106mm - 0.6mm wet screen 52.9% 37,000,000 99.66 0.06 0.02 0.03 0.08 -attrition -HLS floats -Nonmagnetics fine sand 0.045mm - 0.106mm wet screen 5.2% 4,000,000 97.70 0.17 0.41 1.04 0.25 Competent Person Statement Auranmore Consulting were engaged by the Company to undertake a Mineral Resource Estimate (MRE) for the Sparkler Silica Sand Exploration Project. The Mineral Resource Estimate complies with the recommendations in the Australasian Code for Reporting of Mineral Resources and Ore Reserves (2012) by the Joint Ore Reserves Committee (JORC). The Minerals Resource Estimate was compiled by Richard Maddocks, MSc in Mineral Economics, BAppSc in Applied Geology and Grad Dip in Applied Finance and Investment. Mr Maddocks is an employee of Auranmore Consulting and is a Fellow of the Australasian Institute of Mining and Metallurgy (111714) with over 30 years of experience. Mr Maddocks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code. Sparkler C (E 70/5920) Exploration Target Tonnage Range Minimum Maximum Exploration Target 5,000,000 7,000,000 Grade Silica (SiO2) % 98% 99% Inclusions Lowest Highest Iron Oxide (Fe₂O₃) % (ppm) 0.04% (400) 0.08% (800) Titanium Dioxide (TiO₂) % (ppm) 0.35% (3500) 0.55% (5500) Alumina (Al₂O₃) % (ppm) 0.03% (300) 0.07% (700) LOI % (moisture and volatiles) 0.70% 1.0%
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