AVP-TEN-CO-CON-0018 Processing Plant - Balance of Plant EPC

Summary and scope

The Australian Vanadium Project ("the Project") consists of 15 tenements covering 200 sq km and held 100% by Australian Vanadium Limited, an Australian company listed on the Australian Securities Exchange (ASX: AVL).Mining Lease M51/878 has been granted for a period of 21 years and covers 87% of the Mineral Resource, with the balance of the Inferred Mineral Resource located on E51/843, overlain by Mining Lease Application MLA51/897, owned 100% by AVL.The Project is based on a proposed open cut mine of the Vanadium Titanium Magnetite orebody, a crushing, milling and beneficiation (CMB) plant and a vanadium processing plant. Concentrate produced at the CMB will be transported to a vanadium processing plant located near Geraldton, for final conversion to high quality vanadium pentoxide, for sale or further conversion and use in steel and energy storage, catalyst, chemical and defence applications.The coastal processing plant location is a key strategic differentiator to all current global primary vanadium producers, utilising the unique gas, road and port infrastructure of the world class mining region of mid-western Western Australia.