Quarterly Activities/Appendix 5B Cash Flow Report

MTM Critical Metals (ASX:MTM) is pleased to present its Quarterly Activities and Cash Flow Report.

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MTM Critical Metals Limited is focused on developing its niobium and rare earth elements projects while advancing its Flash Joule Heating mineral processing and recycling technology.

Highlights

• Acquired West Arunta Nb-REE Project, prospective for mineralised carbonatites adjacent to WA1 in Western Australia.
• Deal includes acquisition of the Mukinbudin Nb-REE Project in WA’s South West Mineral Field.
• Also acquired an option to licence Flash Joule Heating recycling and processing technology.
• Reported new broad zones of rare earth elements (REE) and niobium (Nb) mineralisation and further total rare earth oxides (TREO) intercepts reported at Pomme REE-Nb Project, Québec
  • POM-23-13: 330m @ 0.34% TREO & 0.02% Nb₂O₅
  • POM-23-11: 468.35m @ 0.29% TREO & 0.06% Nb₂O₅ including 74.75m @ 0.47% TREO & 0.06% Nb₂O₅.
• MTM expands REE acreage in Canada.
• Encouraging beneficiation results received for East Laverton REE clays project.

Flash Metals Pty Ltd acquisition

In December, MTM announced it had entered into a binding agreement to acquire 100% of Flash Metals Pty Ltd, the beneficial owner of three key exploration licenses prospective for niobium (Nb) and rare earth elements (REE) in the West Arunta region of Western Australia.

Covering around 140km², the three granted West Arunta Nb-REE licences (E80/5858, E80/5874 and E80/5875) are located immediately adjacent to tenements held by WA1 Resources Limited (ASX:WA1, $455m mkt. cap1.) and Encounter Resources Limited (ASX:ENR, $110m mkt. cap1.), where niobium-REE mineralised carbonatites have recently been discovered:

• WA1:P2 Carbonatite Discovery:54m @ 0.62% Nb₂O₅ ending in 2m @ 1.22% Nb₂O₅
  Luni Carbonatite Discovery: 31m @ 3.5% Nb₂O₅ incl. 13m @ 5.0% Nb₂O₅
  24m @ 2.1% Nb₂O₅ incl. 10m @ 4.0% Nb₂O₅
  21m @ 2.2% Nb₂O₅ incl. 12m @ 3.2% Nb₂O₅
  
  
• ENR:Crean Carbonatite Discovery: 282m @ 0.54% Nb₂O₅ & 0.17% TREO from 64m
  Hurley Carbonatite Target:Large scale mineralised carbonatite, open at depth

The West Arunta region is one of Australia’s critical metal exploration hotspots with over $60m in exploration expenditure collectively invested in the district by a number of ASX companies including Rio Tinto Limited (JV with Tali Resources Pty Ltd) (ASX:RIO), CGN Resources Limited (ASX:CGR), and IGO Limited (ASX:IGO).

The Flash transaction also includes the acquisition of the Mukinbudin Nb-REE Project, comprising two exploration licences, (E70/6048 and E70/6359) located 250km northeast of Perth in the South West Mineral Field of Western Australia. REE mineralisation has been locally reported by Codrus Minerals and Caprice Resources.

As part of the Flash Metals transaction, MTM has also acquired an option to licence a processing and recycling technology for REE and other critical minerals known as Flash Joule Heating (FJH), which has been developed by researchers at Rice University in the USA.

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