Pingrup Project

Overview

Figure 1: Location of Narryer Metals Limited’s Titanium and REE projects in Australia

The Pingrup Project is a 78km² granted tenement (E70/6783) overlaying freehold cropping and grazing land, 8km north of Pingrup, 30 km south of Lake Grace, and only 300km from Perth (Figure 1) which was pegged by the Company late last year and granted during the reporting period.  The project has good access, with the sealed Pingrup-Lake Grace Rd transecting the tenure, which eventually leads all the way on sealed roads to the Albany port.   Pingrup is approximately 180km NE of the Narryer 100% owned Rocky Gully Sc-REE-Ga Project, providing potential synergies in development.

A review of historic drilling identifies near-surface, high grade scandium mineralisation over ~1.7km of strike, with grades up to 765 ppm Sc₂O₃ and significant exploration upside (Figures 2 and 3). There are 31 significant scandium intersections grading >100 ppm Sc₂0₃ have been identified, with mineralisation predominantly occurring within saprolitic clays at shallow depths of approximately 12-42m.

Standout scandium intersections include⁹:

• 9m @ 430 ppm Sc₂O₃ from 15m (PNAC0019)
• 12m @ 179 ppm Sc₂O₃, from 30m (PNAC0010)
• 12m @ 214 ppm Sc₂O₃ from 21m (PNAC0023)
• 6m @ 260 ppm Sc₂O₃ from 15m (PNAC0063)
• 15m @ 183 ppm Sc₂O₃ from 9m (PNAC0089)

Existing drill coverage positions Pingrup as an advanced exploration opportunity, with planned AC drilling aimed at defining higher-grade zones.

Both Pingrup and Rocky Gully Projects provide Narryer with the opportunity to be a significant supplier of scandium

Figure 2. Green fire Prospect with magnetics and aircore drill holes portrayed by the measured scandium oxide concentrations in tenement application E70/6783. Note section location in Figure 6. (Coordinates MGA 2020, Zone 50).

Figure 3. Greenfire Prospect A-A’ drill section

⁹ Narryer Metals Limited ASX announcement 12 August 2026