Media Release / 4 April 2024

 Epanko Project Flyover

Epanko the Largest Development Ready Graphite Project in Africa, following 127% Mineral Resource Increase to 290.8Mt at 7.2% TGC

EcoGraf Limited (EcoGraf or the Company) (ASX: EGR; FSE: FMK; OTCQB: ECGFF) is pleased to provide a flyover view of the recent Mineral Resource estimate (MRE) for its Epanko Graphite Project (Epanko or the Project) in Tanzania.

The flyover highlights a single continuous graphitic unit over 5.5km in length, with widths up to 210m, providing the potential for long-term low strip ratios. The entire graphite mineralisation will be contained in the new Special Mining Licence (SML) area, that is expected to be granted over the next 1-2 months. 

Outstanding trenching results encountered over the Mount Grafit ‘Peak’ show the high-grade potential along strike, with trenching assay including: MHT26 43m at 20.8% TGC from 0m and MHT24 33m at 19.7% TGC from 30m that remains open along-strike and down-dip. 

The Peak is at an elevation of 1400mRL which is 450m above the proposed plant site, providing downhill transport from the mine to the proposed processing plant.

The flyover also highlights the very favourable natural topography that will enable mine, process plant and tailings storage facility (TSF) expansions well beyond the existing mining schedule.

View flyover here: https://youtu.be/G4iKtBJUGVk

For further details refer ASX announcement titled ‘127% Increase in the Epanko Mineral Resource’ dated 11 March 2024.

This media release is authorised for release by Andrew Spinks, Managing Director.

For further information, please contact:

INVESTORS 

Andrew Spinks  

Managing Director 

T: +61 8 6424 9002

Competent Person Statement

The information in this report that relates to Exploration Results is based on, and fairly reflects, information compiled by Mr David Drabble, a Competent Person, who is an employee of EcoGraf Limited and a Member of the Australian Institute of Geoscientists (#307348). Mr Drabble has sufficient experience relevant to the style of mineralisation and type of deposit under consideration as well as to the activity that is being undertaken to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement.

The information in this report that relates to Mineral Resources is based on, and fairly reflects, information compiled by Mr. David Williams and Mr. David Drabble. Mr. David Williams is a full-time employee of ERM and is a Member of the Australian Institute of Geoscientists (#4176)(RPGeo). Mr. David Drabble is a full-time employee of EcoGraf Ltd and is a Member of the Australasian Institute of Mining and Metallurgy (#307348). Mr David Williams and Mr David Drabble have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement.

About EcoGraf

EcoGraf is building a vertically integrated battery anode materials business to produce high purity graphite products for the lithium-ion battery and advanced manufacturing markets. Over US$30 million has been invested to date to create a highly attractive graphite mining and mineral processing business.

In Tanzania, the Company is developing the TanzGraphite natural flake graphite business, commencing with the Epanko Graphite Project, to provide a long-term, scalable supply of feedstock for EcoGraf™ battery anode material processing facilities, together with high quality large flake graphite products for specialised industrial applications.

Using its environmentally superior EcoGraf HFfree™ purification technology, the Company will upgrade the flake graphite to produce 99.95%C high performance battery anode material to supply electric vehicle, battery and anode manufacturers in Asia, Europe and North America as the world transitions to clean, renewable energy. 

Battery recycling is critical to improving supply chain sustainability and the Company’s successful application of the EcoGraf™ purification process to recycle battery anode material provides it with a unique ability to support customers to reduce CO₂ emissions and lower battery costs.

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