HIGHLIGHTS

• Completion of acquisition of Cheetah Resources Pty Ltd to transform Vital into near term REO producer
• Early works program on Nechalacho REO (Thor Lake, Canada) project commenced during the quarter
• Conversion of the world class NI 43-101 149.3Mt at 1.42% REO to JORC resource underway
• Infill drill program completed on the North T Zone along with assaying of historically drilled diamond core underway
• Bulk sample taken for extensive metallurgical program confirms logistics chain
• Tomra Systems engaged for optimising initial concentration via ore sorting technology
• Hydrometallurgical process test work underway on high grade bastnaesite samples

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