Richmond Vanadium Technology Limited UPDATE ITS BANKABLE FEASIBILITY STUDY

Richmond Vanadium Technology Limited (“Richmond Vanadium Technology” or the “Company”) (ASX: RVT) is pleased to provide an update on the Bankable Feasibility Study (“BFS” or “Study”) and associated environmental and statutory approvals work for the Richmond – Julia Creek Project.

Key elements of the Study commenced in the June Quarter 2023 with the appointment of DRA Global as the engineering services consultant and Epic Environmental as lead consultant to deliver the Environmental Impact Statement (EIS) under the terms of reference released in April 2023. The terms included:

• Assisting with the delivery of an Environmental Authority and Progressive Rehabilitation, and;

• Delivering a Closure Plan to support a future Mining Lease grant for the project.

Key elements of the Bankable Feasibility Study (BFS) for our Richmond-Julia Creek Vanadium Project commenced in the June Quarter 2023 with the appointment of DRA Global as the engineering services consultant and Epic Environmental as lead consultant to deliver the Environmental Impact Statement (EIS) under the terms of reference released in April 2023. Extensive geological, mineralogical and metallurgical test work commenced in early 2023 at four laboratories in China and Australia.

Following a detailed review of initial results from all work programs and the current vanadium market, the timeframe for completion of the BFS has been extended by 6 months, with completion expected in the June Quarter 2025. Regulatory approvals and a final investment decision are expected in the September Quarter 2025.

Managing Director, Jon Price, commented:

For more information, please visit: https://www.ferroalloynet.com/news/richmond_vanadium_technology_limited_update_its_bankable_feasibility_study.html