Almonty Korea Moly

More recently an external study by KTMC and OTL on the drill holes (37 drill holes) was developed into a Block Model and it pointed to the need of acquiring more information to determine more accurate numbers for tonnes and grades. The previous work and/or studies completed on the Jangsan quartzites, found that this Deep Moly Deposit was not included in any of the 43/101 resource/reserve calculations of the tungsten Sangdong mine. We have identified the Deep Moly location and we recognize that further knowledge of this structure is needed. This will be acquired during the early WO3 Sangdong mine exploitation. If the exploration work confirms the anticipated results, we would most likely commence mining the Mo content from the existing veins in the Jangsang quartzites. The Deep Moly zone is still open from the NE to the NW. The potential of this deposit is possibly one of the largest Mo deposits in SE Asia. The potential of this Mo zone is enormous and during the life of Almonty Korea Tungsten (Sangdong Mine), more exploration work over this large target will be required.

Potential

Deep Moly can be looked as a remarkable, additional mining potential to the Sangdong region, as it can be a distinctively new deposit to be mined after decades of exploitation on the actual WO3 deposit, or in some years, in conjunction with it, thus enabling the sharing of mining and processing infrastructures with the Almonty Korea Tungsten project. The proxmity to the Sangdong Tungsten Mine offers substantial synergies in infrastructure, logistics, and operational efficiencies, potentially allowing for the shared use of access roads, power supply, water resources, and processing facilities. Molybdenum has been recognized as one of the six cross-cutting critical minerals by the World Bank in 2020, indicating its essential role in the transition towards green energy technologies. Molybdenum is a key component in wind energy technologies, with the highest usage per megawatt (MW) of energy compared to coal and nuclear. As wind energy continues to expand, with an expected growth rate of around 9.5% until 2030 and beyond, the demand for molybdenum will be significantly influenced by the wind energy sector.