Ore Supply Agreement Executed With SMGM

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that it has entered into a binding ore supply agreement (“Agreement”) with SMGM.

Highlights

• Binding ore supply agreement entered into with Société Minière Georges Montagnat (“SMGM”), a significant New Caledonian mining company, for up to 200,000 wmt per annum.
• Targeting a typical limonite ore specification of 1.5% Ni and 0.18% Co.
• Ten year ore supply term.
• Additional diversification to existing ore supply agreements with Société Le Nickel (“SLN”) and Société des Mines de la Tontouta (“SMT”).

QPM Managing Director Dr Stephen Grocott commented,

“I am pleased to enter into this agreement with SMGM. We now have agreements with three mining companies in New Caledonia, strengthening our ties to the country and increasing our security of ore supply.SMGM has been a strong supporter of the TECH Project for a long time and we look forward to having a long term partnership that delivers value to both companies.”

SMGM Managing Director Mr. Xavier Gravelat commented,

“Our Company is pleased to provide its ore to a modern and innovative project designed to produce good quality nickel that is respectful of environmental issues. It is a great satisfaction to be able to contribute to the development of a clean and sustainable nickel.”

About SMGM

Société Minière Georges Montagnat (SMGM) was founded in 1956 by Georges-Louis MONTAGNAT. The company’s activities are related to mining in particular discovering new deposits, ore extraction, transport, stock piling, lighterage, and ship loading. SMGM also works as a subcontractor for the Société Le Nickel (SLN).

SMGM operates on mining centers located in Koumac, Tontouta and Ouinné, a lateritic deposit. The company’s major buyers are in New Caledonia, Japan and in China. Laterite ore was also exported to Australia from 2000 to 2013.

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