Quarterly Activities/Appendix 5B Cash Flow Report

International Graphite’s (ASX:IG6) is pleased to present its Quarterly Report and Cash Flow Report.

Our vision: International Graphite is striving to be Western Australia’s first vertically integrated producer of graphite anode materials (BAM) for lithium-ion batteries.

Message from the Managing Director:

Recognition of the Springdale Graphite Project as a deposit of international significance was the highlight of the September 2023 quarter. The Mineral Resource estimate of 49.3Mt @ 6.5% TGC, published on 12 September, positions Springdale in the top 15 JORC reporting resources globally, with a substantial amount of exploration potential still to be tested.

The graphite mineralisation at Springdale is fine flake meaning 100% of the concentrate produced there will cater for the high growth lithium-ion battery market – this is a unique advantage that makes Springdale a standout graphite development.

Our technical team is focused on completing a scoping study for Springdale by the end of this calendar year, to match the scoping study released in April for the proposed Collie Graphite BAM Facilities that will process Springdale concentrates.

News on 20 October 2023 that China is imposing strict export constraints on graphite concentrates has further increased the fragility of the battery minerals supply chain and International Graphite’s assets are attracting worldwide attention.

We are actively pursuing discussions with interests in Korea, Japan, the US and Europe, who are seeking supply to meet the raw material demands of the global gigafactory build out.

The location of our assets, all in the Tier 1 resource jurisdiction of Western Australian, means we are ideally placed

to provide graphite customers with unparalleled certainty, quality and reliability of supply.

The next 12 months are set to be exciting and rewarding.

Highlights.

Springdale Graphite Project

• Total Springdale Mineral Resource estimate grows from 15.3Mt @ 6.0% Total Graphitic Carbon (TGC) to 49.3Mt @ 6.5% TGC:
  • Indicated category – 11.5Mt @ 7.5% TGC
  • Inferred category – 37.8Mt @ 6.1% TGC
• Only ~10% of tenement area explored and ~20% of exploration targets tested to date
• 27% of Mineral Resource classified as Indicated – sufficient for long term mine planning
• Bulk concentrate testwork program commenced at ALS Metallurgy, Perth
• Scoping study scheduled for end 2023 completion

Collie Downstream Processing Facilities

• Works approval received for installation of “qualification scale” micronising equipment
• Micronising equipment delivered to Collie with installation currently underway

Corporate

• Cash at bank at quarter end $1.4M with grant funding due in the December quarter comprising:
  • Two instalments of $333K each from the WA Government Collie Futures Industry Development Fund (first received 26 October)
  • $1.2M from the Australian Government Critical Minerals Development Program Funding application submitted to Collie Industrial Transition Fund, part of the
• WA Government’s $547.4 million Collie Transition Package announced in June 2022
• AGM scheduled for 25 November 2023

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