Announcement PDF ASX Announcement 6 August 2025 Sample from Deep Leads delivered to ANSTO for mixed rare earth carbonate production ASX: ABX Engage with this announcement on our interactive Investor Hub An investor webinar is planned to discuss this announcement 100 kg bulk sample delivered to ANSTO from trial pit at ABx’s Deep Leads project for production of mixed rare earth carbonate (MREC) sample Bulk sample supported by in-house leach testing, which indicates high-grade and high extraction rates for magnet rare earths (Nd, Pr, Dy, Tb) Prospective customers eagerly anticipating MREC compositions and samples ABx Group Limited (ASX: ABX) has delivered a 100 kg sample of ionic adsorption clay (IAC) rare earth material to the Australian Nuclear Science and Technology Organisation (ANSTO) to produce a high purity mixed rare carbonate (MREC) sample. The material was obtained from a bulk sample taken from the Company’s Deep Leads project, located 45 km west of Launceston, Tasmania. Like all ABx rare earths, the sample is particularly high grade for the two crucial heavy rare earths, dysprosium (77.9 ppm Dy2O3) and terbium (13.1 ppm Tb4O7). Additionally, ABx conducted leach tests on the sample at its in-house facilities in Launceston, and measured extractions of 60-69% for the four magnet rare earths. Crucially, the tests were conducted at ambient temperatures and pressures with minimal acid for a short time. ANSTO will produce an MREC from this bulk sample, and the MREC is likely to be high grade (high magnet rare earth oxide (MREO) and low impurities). Potential customers are keenly anticipating these results and have requested samples for their own testing. The in-house test results for the four MREOs are summarised in Table 1 and complete results are provided in Appendix A. Table 1: Grade and extractions of magnetic rare earths from bulk sample. Full results in Appendix A REO Grade (ppm) Grade (%TREO) Extraction (%) Pr6O11 86.0 4.7% 66% Nd2O3 363.5 19.9% 69% Tb4O7 13.1 0.7% 60% Dy2O3 78.0 4.3% 65% MREO 541 29.7% 68% TREO-Ce 1630 89.4% 66% TREO 1823 100% 60% MREO = Pr6O11 + Nd2O3 + Tb4O7 + Dy2O3 For more information, please join ABx Group’s interactive Investor Hub: https://abxgroup.com.au/s/965068 ABx Group Limited Suite 2, Level 11, 385 Bourke St, Melbourne VIC 3205 ABN 14 139 494 885 P: +61 3 9692 7222 | F: +61 2 9956 7355 ASX announcement 6 August 2025 page 2 ABx Rare Earth Resource The Deep Leads – Rubble Mound and Wind Break discoveries contain a resource estimate of 89 million tonnes averaging 844 ppm total rare earth oxides (TREO). The resource contains 36 ppm Dy+Tb (Dy+Tb is 4.4% of TREO), the highest of any ionic clay deposit in Australia and among the highest globally1. This resource estimate has been defined from only 29% of the project’s mineralised outline. Preparation of 100 kg Bulk Sample Three trial pits were excavated from highly prospective areas of the Deep Leads project, within exploration tenements EL9/2020 and EL10/2021 (Figures 1-4). Material from one pit (DLP002) was dried at 100°C and screened to remove fragments of basement rock greater than 5mm in size (approximately 3% of the total mass). The remaining 100 kg of material has been delivered to ANSTO. Figure 1: Bulk sample RMP002 being excavated at Deep Leads resource Figure 2: Trial pit area following extraction and rehabilitation of area shown in Figure 1 1 ASX Announcement, 2 May 2024 ASX announcement 6 August 2025 page 3 In-house Leach Tests Supports Production of MREC Sample Ionic adsorption clay (IAC) rare earth deposits are highly sought, because rare earths can be extracted from these deposits at ambient temperatures and pressures with minimal acid in a short time. This minimises capital cost, operating cost and environmental impact. Previous leach tests conducted by ANSTO found that samples from Deep Leads exhibited the highest extractions under near-neutral conditions reported from any clay-hosted resource in Australia. This means the ABx resource has the highest ionic proportion of any clay-hosted rare earths resource in the country2,3. The ABx technical team has established in-house facilities in Launceston to conduct leach tests and other metallurgical studies. These are being used regularly to measure the ionic proportion in samples obtained from exploration drilling and to optimise the leach conditions to maximise rare earth extraction and minimise the extraction of impurities. To the Company’s knowledge, ABx is the only company in Australia that is conducting such inhouse tests on clay-hosted rare earth deposits. ABx conducted leach tests on four 20g representative sub-samples from the DLP002 bulk sample to confirm that high extractions of rare earths were achieved. Leaching was conducted under conditions suitable for extracting rare earths from IAC deposits: 4 wt% ammonium sulfate at pH 4, ambient temperature and pressure, 15 minutes. Pleasingly, and as expected based on previous ANSTO and in-house results: • Overall extractions were very high: 66% TREO-Ce recovery • Extractions were consistent: 53-72% for each rare earth, except cerium (Ce) • Extractions for the four critically important magnet rare earths (Nd, Pr, Dy, Tb) were very high: 60-69% • Extraction of Ce was low (6%), which is typical of IAC deposits and beneficial because Ce is relatively low value • Extraction of radioactive elements (Th and U) was negligible Results from the in-house leach program are provided in Appendix 1. Strategic Importance of MREC Production Producing a high-purity MREC from a bulk sample represents a critical milestone for ABx in the development of the Deep Leads project. Existing and prospective rare earth refineries are seeking high quality MRECs that can be produced at low cost. MRECs with high proportions of Dy and Tb are in particular demand, because these elements have the most acute supply risk.4 ABx has excellent prospects of meeting these requirements because: 2 ASX Announcement, 31 May 2022 ASX Announcement, 2 February 2023 4 ASX Announcement, 23 April 2025 3 ASX announcement 6 August 2025 page 4 1. Achieving high extractions at ambient temperatures and pressures with minimal acid in a short time is likely to lead to lower cost and lower impurities in the MREC product 2. The ABx resource has a higher proportion of Dy and Tb, which is likely to lead to an MREC with a higher proportion of Dy and Tb compared to peers The Company has already executed a Memorandum of Understanding with Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) 5, which is focussed on rare-earth processing facilities in North America, and ABx is also in discussions with additional potential offtake partners. Next Steps It is expected that ANSTO will produce the MREC sample in Q4 2025. Results and samples will be provided to prospective customers, who are keenly anticipating these outcomes. In parallel, ABx continues to use novel and traditional exploration techniques to expand its rare earths resources in northern Tasmania, and is conducting metallurgical studies to optimise the extraction of rare earths from the geologically unique deposits. ABx CEO and Managing Director Mark Cooksey said: “These latest results reinforce the exceptional quality of our Deep Leads rare earths project and the high potential for ABx to produce a high-value MREC product at low cost with low environmental impact. A differentiator for ABx is that our technical team has established in-house facilities and capabilities to rapidly advance our understanding of our IAC deposit. This is very complementary to the world-leading technical capabilities in external organisations, such as ANSTO. Potential customers are eagerly awaiting the composition of the MREC to be produced by ANSTO, and we share their enthusiasm. Figure 3: Overhead view of trial pit excavation at Deep Leads 5 ASX Announcement, 4 September 2024 ASX announcement 6 August 2025 page 5 Figure 4: Trial pit locations at Deep Leads Pit DLP002 location: 477720E 5410126N (WGS 84 56S grid) This announcement is approved for release by the board of ABx Group Limited. Go to the ABx Investor Hub to watch a video of this announcement and ask any questions of management. An investor webinar hosted by Mark Cooksey, Managing Director and CEO, is planned to discuss this announcement. The webinar details will be provided in advance. For further information please contact: Dr Mark Cooksey MD & CEO ABx Group +61 447 201 536 mcooksey@abxgroup.com.au www.abxgroup.com.au Media Chapter One Advisors David Tasker / Alex Baker +61 433 112 936 / +61 432 801 745 dtasker@chapteroneadvisors.com.au / abaker@chapteroneadvisors.com.au About ABx Group Limited ABx Group Limited (ABx) is a uniquely positioned Australian company delivering materials for a cleaner future. ASX announcement 6 August 2025 page 6 The three priority projects are: • Rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains • Fluorine waste recycling: Producing industrial chemicals from aluminium smelter waste (ALCORE) • Bauxite: Mining bauxite resources for the aluminium, cement and fertiliser industries ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed. Disclaimer Regarding Forward Looking Statements This ASX announcement (Announcement) contains various forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are inherently subject to uncertainties in that they may be affected by a variety of known and unknown risks, variables and factors which could cause actual values or results, performance, or achievements to differ materially from the expectations described in such forward-looking statements. ABx does not give any assurance that the anticipated results, performance, or achievements expressed or implied in those forward-looking statements will be achieved. Competent Persons Statement & Experts The information in this report that relate to Exploration Information and Mineral Resources are based on information compiled by Ian Levy who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Levy is a qualified geologist and a director of ABx Group Limited. Mr Levy 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 2012 Edition of the Australasian Code for Reporting of exploration Results, Mineral Resources and Ore Reserves. Mr Levy has consented in writing to the inclusion in this report of the Exploration Information in the form and context in which it appears. Pit sampling safety, sampling and rehabilitation to better than industry standards was managed by National Operations Manager Nathan Towns who has more than 10 years’ experience with pit-sampling projects. Geology was documented by senior geoscientists Julius Marinelli and Ian Levy and Dr Daniel Jewel, ex CSIRO Senior Chemical Engineer. The sub-sample preparation was conducted by Operations Manager Nathan Towns in the ABX Research Lab in accordance with the increment division method in ISO Standard 6140. ABx’s leach tests on four 20g representative sub-samples was conducted at the ABx Research Lab ex-CSIRO Senior Chemical Engineer, Dr Daniel Jewel to highest standards. ASX announcement 6 August 2025 page 7 Table 2 - Summary of sampling information referred to above, in accordance with LR 5.8.1 Geology and geological interpretation Sampling and sub-sampling techniques Drilling techniques Criteria used for resource classification, drill & data spacing & distribution. REE mineralisation occurs in clay layers that overlie a Jurassic age dolerite basement in a district with some residual weathered Tertiary age alkali basalt. Pit sampling was done at 1 metre intervals using a large excavator with an 8 metre boom. Subsampling of ~180kg was done by fractional shovelling. This sample was dried, crushed to 25mm and ground to minus 5mm. Further subsampling to collect the 100kg samples for ANSTO processing was done by increment division on disk-ground powder in accordance ISO Standard 6140. See Figures 5 & 6 below. Not applicable (N.A.). Bulk pit sampling by excavator N.A. Sample analytical method Assay samples are analysed by standard NATA-approved induction coupled plasma analytical methods for rare earth elements at ALS labs in Brisbane (method ME-MS81). Interlab comparisons were satisfactory. Estimation methodology, cut off grade, mining, metallurgy and other modifying factors All N.A. Figure 5 (left): handling the bulk sample from the pit, Preparations for drying the 183.7kg bulk sample in 42 trays Figure 6 (above):: Increment subsampling of the 100kg ANSTO sample crush and ground to less than 5mm. Subsampling done in accordance with International Standard ISO 6140 at the ABX Research Laboratory at Western Junction, Launceston, Tasmania. ASX announcement 6 August 2025 page 8 APPENDIX A: Composition and leach results from 100 kg DLP002 bulk sample from Deep Leads rare earth resource. Oxide / Element Sample grade (ppm) Sample (mg) Sample (%TREO) Leached solution (mg) Leached solution (%TREO) Extraction (%) La2O3 299.8 6.0 16.4% 3.4 15.6% 56% CeO2 193.3 3.9 10.6% 0.2 1.0% 6% Pr6O11 86.0 1.7 4.7% 1.1 5.2% 66% Nd2O3 363.5 7.3 19.9% 5.0 23.1% 69% Sm2O3 90.3 1.8 5.0% 1.1 4.9% 59% Eu2O3 24.4 0.5 1.3% 0.3 1.5% 65% Gd2O3 86.8 1.7 4.8% 1.2 5.4% 68% Tb4O7 13.1 0.3 0.7% 0.2 0.7% 60% Dy2O3 78.0 1.6 4.3% 1.0 4.7% 65% Ho2O3 16.6 0.3 0.9% 0.2 0.9% 62% Er2O3 46.0 0.9 2.5% 0.6 2.7% 65% Tm2O3 6.6 0.1 0.4% 0.1 0.4% 59% Yb2O3 39.9 0.8 2.2% 0.5 2.1% 57% Lu2O3 6.3 0.1 0.3% 0.1 0.3% 53% Y2O3 472.4 9.4 25.9% 6.8 31.5% 72% TREO 1823 36.5 100% 21.7 100% 60% TREO-Ce 1630 32.6 89.4% 21.5 99.0% 66% LREO 943 18.9 51.7% 9.7 44.9% 52% HREO 880 17.6 48.3% 12.0 55.1% 68% MREO 541 10.8 29.7% 7.3 33.6% 68% Th 5.4 0.108 - <0.0002 - <0.001% U 1.4 0.028 - <0.0002 - <0.001% Leach conditions: • 20g sample and 80mL of 4wt% (0.3M) ammonium sulfate (i.e. 20wt% slurry solids loading) • pH maintained at pH 4 by continuous monitoring and manual addition of small quantities of dilute (3.45wt%) sulfuric acid • Ambient temperature and pressure • Overhead stirring at moderate speed • 15 min Compositions of sample and leached solution measured at ALS Leach results are the average of tests on four sub-samples from the bulk sample LREO (Light REO) = La2O3 + CeO2 + Pr6O11 + Nd2O3 HREO (Heavy REO) = Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MREO (Magnet REO) = Pr6O11 + Nd2O3 + Tb4O7 + Dy2O3 ASX announcement 6 August 2025 page 9 JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling • Include reference to measures taken to ensure sample representivity • Aspects of the determination of mineralisation that are Material to the Public Report. • Industry standard work: • Drill type • Bulk pit dug by excavator • Samples taken at 1 metre intervals by cleaning pit at the metre interval, then taking full 1 metre slice for the samples. • Subsampling the metre samples done as per ISO bauxite sampling processes • Not applicable to bulk pits excavated by excavator with 8 metre boom. • Not applicable to bulk pits Drilling techniques Drill sample recovery Logging Subsampling techniques and sample preparation • Method of recording and assessing core and chip sample recoveries and results assessed. • Whether samples have been geologically and geotechnically logged to an appropriate level for metallurgical studies. • Whether sampling is qualitative or quantitative. • Total length & percentage of the relevant intersections logged. • If core, whether cut or sawn, quarter, half or all core. • If non-core, sample method, whether sampled wet or dry. • Nature, quality & appropriateness of the sample preparation. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • Pits sampled, assayed, logged, photographed & & stored to ISO standards. See below • All 8 metres was logged and sampled • Depth 5m to 6m selected – see below • Depth 5m to 6m selected for the sample to be used to produce a mixed carbonate rare earth carbonate (MREC) • 100kg samples produced by drying 600kg, comminution, subsampling by increment division in accordance ISO Standard 6140 at ABx Research Lab, Launceston that is a recognised sampling lab for bulk products including shipping of bauxite. • Separate subsamples assayed the same • Assaying done by NATA-registered ALS laboratories, Brisbane • N.A. Assays are by ALS which is a major mineral laboratory • ALS is industry-standard and publishes its QA/QC protocols and results on its website Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • Geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis • Nature of quality control procedures adopted . Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • Location of data points • Accuracy & quality of surveys used to locate drill holes & pits. • Specification of the grid system used. • Quality and adequacy of topographic control. • Location by GPS Data • spacing and • distribution • Orientation of • data in relation to geological structure • Sample • security Audits or reviews Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient. Whether sample compositing has been applied. Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. Does the drilling orientation introduce a sampling bias The measures taken to ensure sample security. • The results of any audits or reviews of sampling techniques and data. • • Pit sampling supervised by 4 ABx senior staff – see Competent Person & Expert Statement for details. Repeated subsampling assayed the same. Metal assays from ALS converted to oxides as per industry standards for reporting • Pit DLP002 location: 477720E , 5410126N (WGS 84 56S grid). RL 287.675m by LiDAR. • Bulk pit sampling at 1m intervals considered appropriate and sufficient • Vertical bulk pit sampling is appropriate for the horizontal layers of REE mineralisation • Chain of custody protocols were applied to secure the bulk bag samples. • Two bulk samples taken simultaneously assayed the same ASX announcement 6 August 2025 page 10 Section 2 Reporting of Exploration Results (Criteria listed in preceding section also apply to this section.) Criteria JORC Code explanation Commentary Mineral • Type, reference name/number, location and ownership including tenement agreements or material issues with third parties such as joint ventures, and land partnerships, overriding royalties, native title interests, historical sites, tenure status wilderness or national park and environmental settings. • Security of tenure and impediments to obtaining a licence to operate. • EL7/2010 100% owned and unencumbered. Pit located in a pine plantation with approvals from owner and government agencies. Exploration by • Acknowledgment and appraisal of exploration by other parties. other parties Geology • Deposit type, geological setting and style of mineralisation. • ABx sole discoverer and first to explore this area. • REE mineralisation occurs in clay layers that overlie a Jurassic age dolerite basement in a district with some residual weathered Tertiary age alkali basalt. • Pit DLP002 location: 477720E , 5410126N (WGS 84 56S grid). RL 287.675m by LiDAR. Drill hole Information • Summary of information for understanding exploration results including a tabulation of the following information for all material drill holes: o o o o o easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) dip and azimuth of the hole down hole length and interception depth hole length. • If exclusion of this information is justified, the Competent Person should clearly explain why this is the case. Data • In reporting Exploration Results, weighting averaging techniques, maximum • aggregation and/or minimum grade truncations (eg cutting of high grades) and cut-off methods grades are usually Material and should be stated. • • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. Relationship • These relationships are particularly important. • between • If the geometry of the mineralisation with respect to the drill hole angle is mineralisation known, its nature should be reported. widths & • If it is not known and only the down hole lengths are reported, there should be intercept a clear statement to this effect (eg ‘down hole length, true width not known’). lengths Diagrams • Appropriate maps and sections (with scales) and tabulations of intercepts • should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Balanced • Where comprehensive reporting of all Exploration Results is not practicable, • reporting representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Other • Other exploration data, if meaningful and material, should be reported • substantive including (but not limited to): geological observations; geophysical survey exploration results; geochemical survey results; bulk samples – size and method of data treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Further • The nature and scale of planned further work (eg tests for lateral extensions • work or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. ----oooo---- No aggregation or any cutting of assays done Metal assays from ALS converted to oxides as per industry standards for reporting Vertical bulk pit sampling is appropriate for the horizontal layers of REE mineralisation See report All data to date is reported in this report All data to date is reported in this report ANSTO labs are engaged to undertake the processing on the 100kg sample to produce a mixed rare earth carbonate concentrate (MREC)