CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION Ore Reserve for Dampier Project held by Kimberley Mineral Sands Pty Ltd (Sheffield interest – 50%) as at 30 June 2023 Dampier Project Ore Reserve1,2,3,4,5,6,7 Valuable HM Grade (In-situ)5 Deposit Ore Reserve Category Ore Tonnes (millions) In-situ HM Tonnes7 (millions) HM Grade (%) Zircon (%) HiTi Leuc (%) Leuc (%) Ilmenite (%) Slimes (%) Oversize (%) Thunderbird Proved 239 31 12.9 0.96 0.29 0.28 3.4 16 14 Probable 514 52 10.1 0.79 0.26 0.27 2.9 15 11 Total 754 83 11.0 0.84 0.27 0.27 3.1 15 12 Mineral Assemblage6 Deposit Ore Reserve Category Ore Tonnes (millions) In-situ HM Tonnes7 (millions) HM Grade (%) Zircon (%) HiTi Leuc (%) Leuc (%) Ilmenite (%) Slimes (%) Oversize (%) Thunderbird Proved 239 31 12.9 7.5 2.2 2.2 27 16 14 Probable 514 52 10.1 7.8 2.6 2.6 28 15 11 Total 754 83 11.0 7.7 2.4 2.5 28 15 12 Note 1: The Ore Reserve estimate was prepared by Entech Pty Ltd and first disclosed under the JORC Code (2012). Ore Reserve is reported to a design overburden surface with appropriate consideration of modifying factors, costs, mineral assemblage, process recoveries and product pricing. Note 2: Ore Reserve is a sub-set of Mineral Resource. Note 3: HM is within the 38µm to 1mm size fraction and reported as a percentage of the total material, slimes is the -38µm fraction and oversize is the +1mm fraction. Note 4: Tonnes and grades have been rounded to reflect the relative accuracy and confidence level of the estimate, thus the sum of columns may not equal. Note 5: The in-situ assemblage grade is determined by multiplying the percentage of HM by the percentage of each valuable heavy mineral within the heavy mineral assemblage at the Resource block model scale. Note 6: Mineral assemblage as a percentage of HM Grade, it is derived by dividing the in-situ grade by the HM grade. Note 7: The contained in-situ tonnes are derived from HM and material tonnes from information in the Ore Reserve tables. The Ore Reserve estimate was prepared by Entech Pty Ltd, an experienced and prominent mining engineering consultancy with appropriate mineral sands experience in accordance with the JORC Code (2012 Edition). The Ore Reserve is estimated using all available geological and relevant drill hole and assay data, including mineralogical sampling and test work on mineral recoveries and final product qualities. Measured and Indicated Mineral Resources were converted to Proved and Probable Ore Reserves respectively, subject to mine design, modifying factors and economic evaluation. The Company is not aware of any new information or data that materially affects the information included in the Ore Reserve estimate and confirms that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed. Ore Reserve changes 30 June 2022 to 30 June 2023 Both the 2022 and 2023 Ore Reserve estimates were prepared by Entech Pty Ltd. There has been no change between 2022 and 2023 Ore Reserve and no new information that materially affects the Ore Reserve has been received. Ore Reserves and Mineral Resources 13 Sheffield Resources Limited Annual Report 2023
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