Universal Mining Group Update

We are pleased to provide an update on our activities over the last 6 months. We have signed a number of significant corporate mandates to date. A brief summary of deals in hand is below:

Large Scalable PGM – Alaska – $25m  

Funding discussions commenced. Mine has environmental credits and Pt & Pl credits.

High-Grade Silicon Dioxide Project – UK Processing Facility/Polish Mine – $70m

Reserve Class Assets. Ongoing offtake discussions. Strong demand for all products. 242Mmt Si reserve status. Very high grade – up to 79% Si with extremely low impurities. Ideal for Silicon Dioxide products.

Gold/Copper Project – USA – $35m

Existing infrastructure and exploration assets. Extremely high grade intercept, narrow vein, 3000 ozs per vertical metre in multiple shear zones. Cu grade above 6% Cu.

Polymetallic Project – Balkans – $20m

Existing exploration assets Offtake discussions commenced. Au, Zn, Cu credits.

Iron Ore Project – Mexico $35m

High Grade up to 67% Fe, low Si and Ph after magnetic separation. Product offtake discussions commenced for 10Mmt over 4 years. LOI received for debt funding under review, subject to other offers.

Gold Project – Australia – £50m

170 k.ozs mine resource to JORC Code.  Developed very high-grade historical intercepts of 89 g/t Au. Higher grade potential at depth. Funding negotiations in progress. Open Pit and Underground. Scalability to 2m tonnes.

Manganese and Iron Ore Project – India $35m,

Manganese Dioxide MnO2 grade 88%. Significant credits, 10% of the resource. Main ore body 16Mt. Mineral distribution Mn 70%, Fe 30%. Lump product Mn 45%+ Fe 58 -65%. Commenced mineral economic modeling and corporate detailed presentation. Of interest to Indian Steel Mills for off-take discussions.

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