Leliyn Graphite Project

• Prime location in Pine Creek Town – only 2 hours south of Darwin
• Mining town with established infrastructure : power, gas, railway, sealed roads
• Port facilities to export to Asian, North American and European markets
• Middle Arm Sustainable Development Precinct, site for downstream processing facility

The Leliyn Graphite Project was discovered in 2022, shortly after Kingsland Minerals listed on the ASX. A successful drilling program in 2023 – including reverse circulation (RC) and diamond core drilling – led to the announcement of a Maiden Inferred Mineral Resource Estimate of 194.6Mt @ 7.3% TGC in March 2024.

The resource was defined from just 4km of a 20km outcropping graphitic schist unit, highlighting substantial potential for future expansion. The deposit lies within a 20km-long graphitic schist zone, with a true width exceeding 100 metres. Based on geological interpretation, an Exploration Target of 700 million to 1.1 billion tonnes at 7-8% TGC has been established –  representing 50-90 million tonnes of contained graphite.

In 2024, Kingsland undertook resource definition drilling targeting a 600m strike length of the graphitic schist unit on existing Inferred Mineral Resource – to upgrade portions of the resource to the Indicated category, supporting the Scoping Study on production of flake graphite concentrate.

Resource Highlights

• Leliyn is a globally significant graphite deposit – ability to optimise resource
• Exploration Target of 700 – 1,110Mt @ 7.8% TGC for 50-90Mt of contained graphitic carbon released in June 2024
• Only 25% (4.7km)of total graphitic schist unit has been drilled, identifying the largest graphite resource in Australia.
• 75% (13.5km) remains untested demonstrating considerable upside to significantly increase mineral resource tonnage.
• Given the potential significance of the MRE, metallurgical test work is prioritised to strategically de-risk the project before increasing the scale.
• Ability to optimize flake characteristics within remaining ~14km of strike

Initial flotation test-work produced a commercial grade concentrate of > 94% TGC, confirming Leliyn’s ability to deliver a marketable product for the Electric Vehicle (EV) and renewable energy sectors. A bulk concentrate sample was sent to ProGraphite GmbH (Germany) for advanced testwork focused on producing Purified Spherical Graphite (PSG).

Results validated the Company’s strategy to become a leading graphite supplier to the EV and energy storage markets. 

Metallurgical Achievements

• Indicated Mineral Resources established
• Marketable concentrate > 94% Total Graphitic Carbon (TGC) achieved
• Fine flake graphite confirmed for battery-grade applications
• First testwork achieved 99.97% PSG purity using low-temperature alkaline bake and acid wash
• Suitability confirmed for micronising and spheronising into rounded spheres for battery anodes

Next Steps:

• Optimise the processing flowsheet, including comminution and flotation
• Expand PSG testwork and assess scalability

The Scoping Study commenced during the June 2025 Quarter, following the Indicated Mineral Resource upgrade. It is based on the Mineral Resource estimate and drilling programs conducted in 2023 and 2024, which included:

• 67 reverse circulation (RC) holes totalling 7,046 meters ; and
• 11 diamond core holes totalling 2,369 meters
• only 4.2km of the 18km strike length (23%) of the graphite schist has been drilled and included in the resource estimate.

It evaluates 1Mtpa mining and processing operation producing 94% TGC graphite concentrate. At this stage, the scale of the proposed facility is constrained by the volume of Indicated Mineral Resources, which are required to support forward-looking production targets under regulatory guidelines. Pending positive outcome from the Scoping Study, Kingsland plans to undertake additional drilling to expand the Indicated Mineral Resource base. This will provide greater flexibility to consider upscaling the mine and processing facility.

Kingsland believes the Leliyn Mineral Resource has excellent potential for significant growth with further exploration.

The study is supported by leading technical consultants:

 Study Highlights:

• 1Mtpa plant designed to produce 94% TGC graphite concentrate
• 14Mt contained graphite within Mineral Resource, with significant exploration upside
• Strong strategic positioning amid global tariff-driven supply shifts

Next Steps:

• Complete Scoping Study in September 2025
• Prepare for Pre-Feasibility Study (PFS)
• Expand Indicated Resource to support production targets

A mining lease application covering 1,580 hectares was submitted in August 2024, with the Right to Negotiate process commencing on 18 August 2025. The lease area accommodates the current resource and essential infrastructure including processing facilities, tailings storage, and waste dumps. 

Next Steps – After completion of Scoping Study:

• Advance environmental and heritage studies
• Finalise lease approvals in parallel with PFS
• Evaluate potential for gallium and rutile by-products (pending testwork)

Highlights:

• Strategic Partnership secured
• Binding Offtake Agreement
• Downstream collaboration with Quinbrook in Darwin

In November 2024, Kingsland secured a strategic partnership with Quinbrook Infrastructure Partners, a value-add investment manager with a specialist focus on the energy transition. As part of the agreement, Quinbrook acquired a cornerstone 15% equity stake in Kingsland and entered into a binding offtake agreement to purchase graphite concentrate from the Leliyn Graphite Project. The concentrate will be processed into value-added products, including battery components, for domestic and international markets.

Additionally, Kingsland and Quinbrook signed agreements granting Quinbrook the option to supply renewable energy to the Leliyn Graphite Project – further aligning the development with sustainable energy objectives.

This partnership marks a major milestone in Kingsland’s commercial strategy, securing binding offtake arrangements and reinforcing the long-term development pathway for the Leliyn Graphite Project.

Quinbrook is also assessing the feasibility of establishing a spherical graphite downstream processing facility at the Middle Arm Sustainable Development Precinct in Darwin.

For more information, you can view our ASX release at 31 October 2024 at the link found here.

In addition to graphite, Kingsland is advancing the potential of the Leliyn Graphite Project in the Northern Territory, with metallurgical test work now underway to assess the recovery of two high value by-products: gallium and rutile.

These developments significantly enhance the strategic and commercial appeal of one of Australia’s most significant graphite deposits. Exploration Target estimates were established in July 2025:

By-Product Potential : Gallium & Rutile

Gallium Breakthrough

Metallurgical testing has confirmed muscovite mica as the primary host of gallium mineralisation – grading up to 135ppm Ga (181ppm Ga₂O₃) – more than double the global average found in bauxite ores.

Metallurgical Highlights:

• CSIRO analysis confirms muscovite mica as the dominant host for gallium, with biotite mica also showing elevated levels
• Gallium price: USD 1,089/kg, up ~250% over 5 years (August 2025)
• Flotation test work underway to produce a gallium-rich mica concentrate
• Potential to add a high-value by-product stream to Leliyn’s graphite production

Gallium is a critical mineral used in semiconductors, solar cells, LED lighting, 5G, satellite communications, and defence technologies. Leliyn’s gallium potential could position Kingsland as a strategic supplier in the global energy and technology transition.

Rutile Potential

Rutile is essential to aerospace, pigments, welding, and titanium metal production.

Potential Highlights:

• Parallel test work has confirmed elevated rutile (TiO₂) levels
• Notable intersetions include:
  • 285m @ 0.42% TiO₂ (LEDD_08)
  • 197m @ 0.46% TiO₂ (LEDD_10)
  • 120m @ 0.51% TiO₂ (LEDD_28)
• Metallurgical samples show average values up to 0.61% TiO₂
• Rutile price: USD 1,635/t (AUD 2,500/t) (July 2025) 

Next Steps:

• Continue flotation test work to produce gallium-rich mica concentrate
• Assess commercial viability of gallium extraction
• Integrate gallium recovery into future plant designs
• Publish maiden Gallium JORC Resource later in 2025
• Ongoing test work for Rutile: evaluating recovery via flotation and gravity separation

For detailed information, you can view our ASX release at the link found below.

13 August 2025 | Gallium By-Product Update

9 July 2025 | Test Work Underway for Rutile & Gallium By-Product Potential

Leliyn is ideally located with access to Darwin and International markets