Lodestone Iron Ore Project

Lodestone Iron Project - Western Australia

In a snapshot

The Lodestone Iron Project is located in the Mid-West region of Western Australia, east of the wheatbelt town of Morawa, between the Karara (Ansteel – active) and Koolanooka (Baowu – inactive) iron ore mines.

Key Highlights

• Located in the heart of the Mid-West Iron Ore District and only ≈200km to the Port of Geraldton
• Leveraging off extensive existing road, rail, grid power, port
• High purity concentrate 68-70% Fe (DTR). Premium high value Direct Reduction (DR) product. Recrystallized magnetite delivers exceptional ore characteristics.
• +100mt resource already defined, aggressive drill program delivering multiple resource upgrades from targeting mineralisation extending over 25km of strike
• Industry leading team with exceptional track record

The Lodestone Competitive Advantage

• Immediately adjacent to high quality, underutilzed infrastrucure including sealed roads, grid power and rail network
• Only ≈200km to the Port of Geraldton which has spare capacity
• Unique, fully recrystallized ore body that extends over 25km of strike
• High value, high purity concentrate (68% – 70% Fe) liberated at a very coarse grind sizes of up to 250µm
• Fully funded extensive drill program to deliver multiple resource upgrades

About the Project

Access to the southern end of the Project is via the Mungada Road, which parallels the rail line connecting the Karara iron ore mine with Geraldton. The Lodestone resource area can be readily accessed by numerous station tracks leading from the Mungada Road

The Lodestone magnetite body is entirely covered by granted Exploration Licence 59/2163-I, granted to Yukon Resources Pty Ltd on 13 May 2020. The Lodestone Project also includes Exploration Licence application 59/3072

Technical information regarding the Lodestone Project have been provided in ASX announcement dated 11 June 2026.

The current Inferred Resource stands at 110Mt at 33 % Davis Tube Recovery (“DTR”) Mass Recovery (“MR”), grading 69% Fe in concentrate, at a 0% DTR MR lower cut-off.