VULCAN ENERGY RESOURCES LIMITED (VUL)

The suspension of trading in the securities of Vulcan Energy Resources Limited will be lifted immediately following the release by VUL of an announcement regarding a pre-feasibility study for its Zero Carbon Lithium project.

The company releases a Corporate Presentation.

The company releases a PFS Presentation.

The Zero Carbon Lithium Project's1 first Pre-Feasibility Study demonstrates strong potential to develop a cutting edge, combined renewable energy and lithium hydroxide project, in the centre of Europe, with net zero carbon footprint. Positive post-tax NPV of €2.25B (full project, no phasing); phased option shows €700m NPV in Phase 1 and €1.4B NPV in Phase 2. Combined renewable energy-lithium project (no phasing) pre-tax IRR of 26% and post-tax IRR of 21%. Lithium as separate entity from energy shows pre-tax IRR of 31% and post-tax IRR of 26%. Reasonable starting capital cost of €226m for geothermal wells and plant, and €474m for Direct Lithium Extraction plants and Central Lithium Plant (Phase 1, Taro). Phase 2 total CAPEX €1.14B, full project (no phasing) CAPEX €1.74B. Sensitivity analysis shows robust project economics. Geothermal energy part of project supported by favourable feed-in tariff and recent German parliament support for geothermal. Maiden Probable Ore Reserve of 1.12 Mt LCE at 181 mg/l Li across Ortenau and Taro licenses. Main focuses of 2021 to be Definitive Feasibility Study work, permitting, lithium extraction test-work scale up and advancing current discussions with European lithium offtakers.

The securities of Vulcan Energy Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VUL, pending the release of an announcement regarding a pre-feasibility study for its Zero Carbon Lithium project.

The suspension of trading in the securities of Vulcan Energy Resources Limited will be lifted from the commencement of trading on Monday, 16 March 2020, following the release by VUL of an announcement regarding the clarification of VUL's capital structure.

The Company's positive Scoping Study announcement satisfied the performance milestone for the Class A Performance Shares and Class D Performance Rights which Vulcan issued in connection with the acquisition of Vulcan Energy Resources Pty Ltd announced in July 2019. On 28 Feb 2020, the Company issued the shares on conversion of the relevant performance securities. The Company released an Appendix 2A and cleansing statement on the same day. On 6 March 2020, updated directors' interests and substantial holding notices were released. The conversion resulted in the Company's Managing Director, Dr Francis Wedin's, voting power in the Company increasing from 14.40% to 20.16%. The terms of the Performance Shares and Performance Rights issued in connection with the Vulcan acquisition contain a clause which prevents them from converting to the extent that conversion would result in the holder or any other person being in contravention of s606. These clauses operate so that the maximum number of Performance Shares and Performance Rights can convert without the holder going above 20% voting power, and then conversion of the remainder is deferred until it can occur without the holder breaching the 20% threshold. On their temrs, the Class A Performance Shares could only convert up to the point that Dr Wedin had voting power of 19.99% in the Company, and conversion of the remainder should have been deferred. The remainder were converted at this stage in error, and once the error was identified the Company requested that its share registry rectify this error. Once the registry rectified the error, the Company released corrected disclosures.

The securities of Vulcan Energy Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VUL, pending the release of an announcement regarding the clarification of VUL's capital structure.

The suspension of trading in the securities of Vulcan Energy Resources Limited will be lifted immediately following the release by VUL of an announcement regarding a scoping study.

Scoping Study for Vulcan's Zero Carbon Lithium Project demonstrates the potential for a combined operation producing lithium hydroxide and renewable energy, with net zero carbon footprint. The Scoping Study is based on a staged expansion plan. Multi-disciplinary, international in-house and independent expert team, in conjunction with specialist consultants, behind the first of its kind Zero Carbon Lithium study. Discussions with potential strategic off-take partners and consideration of financing alternatives have commenced. Positive Scoping Study outcomes expected to trigger the commencement of mineral processing work and a Pre-Feasibility Study targeted for completion in late 2020. Vulcan is leading the mining and resources industry with its unique Zero Carbon Lithium Project.

The company requests the voluntary suspension remain in place until the company makes an announcement regarding the results of the scoping study at Vulcan's Zero Carbon Lithium Project, which it expects to make by Friday, 21 February 2020.

The company requests the voluntary suspension remain in place until the company makes an announcement regarding the results of the scoping study at Vulcan's Zero Carbon Lithium project, which it expects to make by Thursday, 20 February 2020.

The securities of Vulcan Energy Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VUL, pending the release of an announcement regarding the results of the scoping study at Vulcan's Zero Carbon Lithiumâ„¢ Project.

name changed from Koppar Resources Limited