Commencement Of U.S. Government-Funded Resource Extension Program ICO's RAM Deposit

AUSTRALIA - Jervois Global Limited has commenced its underground resource extension programme at the RAM deposit, via its local mining contractor Small Mine Development. The RAM resource extension programme will involve the commenced construction of an underground exploration drift as well as the extensional drilling to define potential step-outs from the existing RAM mineral resource estimate (MRE), which the commenced construction will enable. The extensional drilling is expected to start in Q1 2024. Jervois has also successfully completed initial surface drilling of the Sunshine historic resource, part of its Idaho Cobalt Operations (ICO) in Idaho.

The Sunshine deposit is an historic resource located a short distance from the mill and concentrator facilities at ICO. Jervois safely drilled seven holes from surface topography, comprising 1,150 metres (3,700 feet) in total. Logging of the Sunshine core obtained from drilling is underway, with assay results expected in Q1 2024. Modelling of the results, together with Jervois’ inaugural MRE for Sunshine, are expected in Q2 2024.