Mineral Resources

Following is a summary of the Company’s silica sand Mineral Resources, reported in accordance with the JORC code (2012).

Arrowsmith North

Classification	Domain	Million Tonnes	SiO₂%	Al₂O₃%	Fe₂O₃%	TiO₂%	LOI%
Inferred	White Sand	280	98.7	0.50	0.10	0.20	0.20
	Yellow Sand	243	97.7	1.00	0.40	0.20	0.50
	All Sand	523	98.2	0.80	0.30	0.20	0.40

The Mineral Resource announcement for Arrowsmith North, including JORC Table 1 information, can be found here. And replace the destination for this link to be the ASX Announcement of 9 July 2019; ‘Arrowsmith North Mineral Resource Estimate Upgrade’

Arrowsmith Central

Classification	Million Tonnes	SiO₂%	AI₂O₃%	Fe₂O₃%	K₂O%	LOI%	TiO₂%
Inferred	28	97.7	1.2	0.3	0.3	0.5	0.2
Total	28	97.7	1.2	0.3	0.3	0.5	0.2

The Mineral Resource announcement for Arrowsmith Cerntral, including JORC Table 1 information, can be found here.

Muchea

Classification	Million Tonnes	SiO₂%	AI₂O₃%	Fe₂O₃%	LOI%	TiO₂%
Indicated	19	99.7	0.03	0.03	0.2	0.08
Inferred	172	99.6	0.04	0.02	0.2	0.08
Total Resources	191	99.6	0.04	0.02	0.2	0.08

The Mineral Resource announcement for Muchea, including JORC Table 1 information, can be found here.

MINERAL RESOURCES AND RESERVES


Classification	Mt	SiO₂ %		Al₂O₃ %		Fe₂O₃ %	TiO₂ %	LOI %
Indicated	29	99.6		0.09		0.03	0.07	0.22
Inferred	172	99.6		0.05		0.02	0.10	0.23
Total	208	99.6		0.06		0.02	0.10	0.23
Indicated	248	97.7		1.00		0.40	0.20	0.50
Inferred	523	98.2		0.80		0.30	0.20	0.40
Total	771	98.0		0.86		0.30	0.17	0.41
Indicated	28.2	96.6		1.70		0.40	0.20	0.70
Inferred	48.3	96.9		1.50		0.40	0.20	0.70
Total	76.5	96.8		1.50		0.40	0.20	0.70
Total Mineral Resource			1,056		Million Tonnes

Ore Reserves


Project	Classification	Product	Recovery	Mt	SiO₂%	Al₂O₃%	Fe₂O₃%	TiO₂%	LOI %
Muchea	Probable	F80	48%	10.2	99.9	0.02	0.008	0.03	0.1
		F80C	20%	4.25
		F150	20%	4.25	99.8	0.07	0.015	0.035	0.1
	Muchea Ore Reserve			18.7	Million Tonnes
Arrowsmith North	Probable	N20	24%	60	99.7	0.2	0.05	0.035	0.1
		N40 / NF500	60%	149
		Local Market	6%	15
	Arrowsmith North Ore Reserve			223	Million Tonnes
Arrowsmith Central	Probable	CF400	17%	4.2	99.6	0.25	0.04	0.03	0.1
		C20	34%	8.4
		C40	17%	4.2
		High TiO₂	9%	2.2			<1%	2%
	Arrowsmith Central Ore Reserve			18.9	Million Tonnes
		Total Ore Reserve		261	Million Tonnes

Competent Persons Statement

The information in this document that relates to Mineral Resources for Arrowsmoth North, Arrowsmith Central and Muchea is based on information compiled by Mr Grant Louw, under the direction and supervision of Dr Andrew Scogings, who were both full-time employees of CSA Global at the time of the Mineral Resource estimation. Dr Scogings is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. He is a Registered Professional Geologist in Industrial Minerals. Dr Scogings has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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). Dr Scogings consents to the disclosure of information in this report in the form and context in which it appears.