BlackRock -  100% owned

• Construction ready BlackRock Vanadium-Titanium-Iron Project (“the Project”) located in Québec 
  • Mine and concentrator portion of the Project – Chibougamau
  • Metallurgical facility portion of the Project – Port Saguenay, a Federal deep seaport with access to St. Lawrence

• NI 43-101 Feasibility Study Effective date:  Nov -2022

Southwest Deposit and Metallurgical Facility Feasibility Study

• C$1,932M after-tax NPV (8%), 18.2% after-tax IRR
• 39 Year Mine Life (just the Southwest deposit)
• Proven and Probable Reserves:   127.8 Mt with 0.46% V₂O₅ (in situ grade), 40.2% Fe₂O₃ and 7.8% TiO₂
• Set to produce an average annual rate of 526kt of high purity nodular pig iron, 4.4kt of Fev₈₀ and 118kt of titanium slag 

Southwest and Armitage Deposits Mineral Resource Estimates

• Measured and Indicated Resources:  355.5 Mt with 0.44% V₂O₅ (in situ grade), 39.7% Fe₂O₃ and 7.8% TiO₂
• Inferred Resources: 73.3 Mt with 0.44% V₂O₅ (in situ grade), 39.7% Fe₂O₃ and 7.9% TiO₂