HPA Technology License Heads of Agreement Executed with Lava Blue

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that it has executed a binding Heads of Agreement with Lava Blue regarding the licensing of Lava Blue’s proprietary technology for HPA production and the joint development of a Definitive Feasibility Study (“DFS”) for HPA production at the TECH Project.

Highlights

• Heads of Agreement executed with Lava Blue regarding use of their proprietary HPA technology in the TECH Project.
• Lava Blue will play an integral role in the HPA section of the TECH Project DFS including test work, piloting and direct support to engineers.
• Engineering consultants Engenium to undertake HPA DFS – Engenium has worked with Lava Blue for several years and is involved with the development and construction of Lava Blue’s demonstration plant
• Lava Blue is a mineral resources and material science company that is focussed on the science and engineering of HPA production. Lava Blue has successfully produced 4N+ HPA from a variety of feedstocks and is working closely with Queensland University of Technology on de-risking controls and scale up of its proprietary process.
• The partnership with Lava Blue will significantly advance QPM’s progress on HPA, leveraging off the knowledge and expertise of an industry expert, which will allow QPM to maintain its focus on the production of net negative carbon nickel and cobalt sulfate.

Lava Blue’s technology is based around the conventional hydrocloric acid leach, which was the base case for QPM. The technology centres around the ability to deal with trace impurities, process control, and demonstration plant confirmation of designs.

Based on due diligence undertaken by QPM and discussions between the two companies, both QPM and Lava Blue are confident the Lava Blue process will be able to successfully refine TECH Project aluminium hydroxide feedstock into 99.99% (“4N”) high purity alumina (“HPA”).

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