June 2023 Quarterly Report

Impact Minerals Limited (ASX:IPT) is pleased to present its Quarterly Report.

HIGHLIGHTS

1. Lake Hope, WA (IPT 80%)

• Impact exercised its option to proceed with a farm-in to earn an 80% interest in the Lake Hope High Purity Alumina Project by completing a Pre- Feasibility Study( PFS).
• Commencement of the PFS and work required to lodge a Mining Lease Application in the September Quarter.
• A maiden mineral resource estimate of 3.5 million tonnes at 25.1% alumina (Al2O3) for a contained 880,000 tonnes of alumina was defined.
• A scoping study is nearing completion and will be released in the September Quarter.
• Heritage survey over the Lake Hope deposit completed by the Ngadju Peoples.

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

• A large Rare Earth Element (REE) soil geochemistry anomaly about ten kilometres long, up to 2,000 meters wide, and comprising Light and Heavy REE was identified in the NE of the Arkun Project.
• The anomaly, called the Horseshoe Prospect, occurs in the contact zone of an intrusion adjacent to a major regional fault, a prime location for REE.
• Further surveys are in progress to follow up on numerous other REE (and other metal) anomalies identified in reconnaissance roadside soil geochemistry surveys.
• Southwest Western Australia is starting to emerge as an REE Province similar to the Gascoyne and Esperance areas.
• Interpretation of nickel-copper-PGM and lithium soil geochemistry data, HeliTEM and DGPR data are in progress.

3. Broken Hill, WA (IPT 100%)

• Continuation of fieldwork funded by the BHP Xplor Programme.
• First-ever Sub Audio Magnetics (SAM) and magnetotelluric (MT) ground geophysical surveys in the Broken Hill area were completed and are being processed and interpreted.
• About 600 rock chip samples were collected during the Xplor programme and have been submitted for whole rock and trace element geochemistry.
• Funding by the Xplor programme ended on June 30th 2023, and all confidentiality restrictions have been lifted.
• A significant amount of new data has been generated through Xplor, which requires synthesis and interpretation to determine the next steps.

4. OTHER PROJECTS WA

• Work progressed on synthesising and interpreting the previous exploration results at the Dinninup, Mineral Hill, Dalgaranga and Narryer projects.

5. CORPORATE

• $4 million was raised via a Placement at 1.2 cents, including $3 million from Impact’s largest shareholder, a German Family Office.
• $753,000 received as a Research and Development rebate.
• Cash at June 30th 2023, was $4.69 Million.

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