March 2023 Quarterly Report

2. Broken Hill, WA (IPT 100%)

• Field work, ground geophysical surveys and geophysical interpretation are underway as part of the inaugural BHP Xplor Programme to accelerate exploration at Broken Hill
  
• IGO Joint Venture (EL7390 and EL8234). Drill assays awaited.

3. Arkun-Beau, WA (IPT 100%)

• Interpretation in progress of results of extensive soil geochemistry surveys.
  
• Further soil geochemistry surveys underway.
• Airborne EM data re-processed by Intrepid Geophysics. Interpretation in progress.
• Ground DGPR survey completed at Beau. Interpretation in progress.

4. Narryer JV, WA

• Soil geochemistry and rock chip results received and being interpreted.

5. Corporate

• Cash at March 31^st 2023 was $1.14 Million

During the Quarter, Impact announced a major change in focus, transitioning immediately from early-stage explorer to advanced developer of the Lake Hope High Purity Alumina Project (ASX Release March 21^st, 2023 .

The Lake Hope Project, in which Impact is earning an 80% interest, offers the company the opportunity to be a low-cost entrant into the HPA chemical market, a high margin business forecast to grow strongly over the next decade. A Pre-Feasibility Study (PFS) on the project is now underway (ASX Release April 6^th, 2023. How could you not realise that this needed to be filled in??

In addition, significant fieldwork was completed at Broken Hill under the auspices of the BHP Xplor programme, a prestigious and innovative global business model to help fund junior explorers, and which Impact is proud to be one of the inaugural cohorts (ASX Release January 17^th, 2023).

In the background, work continued on Impact’s extensive portfolio of projects in the emerging mineral province of southwest Western Australia, a Tier One jurisdiction and where Impact has a strategic focus. The province is home to the world-class deposits such as the recent Julimar PGE-Ni-Cu discovery (ASX: CHN) and the Greenbushes lithium-tantalum mine. Impact’s projects in the province are both 100% owned, (Arkun-Beau, Dinninup, Mineral Hill and Martup) and in joint venture (Jumbo, Narryer, Dalgaranga and Doonia) (Figure 1).