Changes to Ore Reserves between 30 June 2023 to 30 June 2024 Movements between 2023 and 2024 Ore Reserve estimates are due to mining depletion within the 2024 financial year. Mineral Resources for Dampier Project held by Kimberley Mineral Sands Pty Ltd as at 30 June 2024 (Sheffield interest – 50%) The Mineral Resource at Thunderbird was previously estimated and reported in accordance with the guidelines of the JORC Code (2012) in September 2023 at 3.23 billion tonnes at 6.9% total heavy mineral (HM) for 223 Mt of contained HM. The Mineral Resource estimate has been updated to include data from the 2023 grade control drilling, has been depleted for mining to 30 June 2024, and excludes areas sterilised due to Aboriginal Heritage Protection considerations. Mining is at an early stage and reconciliation studies are on-going. The Thunderbird Mineral Resource estimate at 30 June 2024 is 3.01 billion tonnes at 6.9% total HM for 207 Mt of contained HM. The Night Train Mineral Resource estimate was previously reported above a cut-off grade of 1.2% total HM (130 Mt at 3.3% total HM for 4 Mt of contained HM). Following review by Entech Pty Ltd, the Mineral Resource estimate at Night Train has been reported using a cut-off grade of 2% total HM (50 Mt at 5.9% total HM for 3 Mt of contained HM) at to reflect reasonable prospects of eventual economic extraction. The Mineral Resources of Kimberley Mineral Sands are detailed below: Dampier Project Mineral Resources1,2,3,4,5,6,7 Mineral Assemblage Deposit (cut-off) Mineral Resource Category Cut-off (THM%) Material Tonnes (millions) HM Grade (%) Zircon (%) HiTi Leuc6 (%) Leuc (%) Ilmenite (%) Slimes (%) Oversize (%) Thunderbird4,7 Measured 3.0 490 8.9 8.0 2.3 2.2 27 11 18 Indicated 3.0 2,040 6.6 8.3 2.7 3.0 28 8 15 Inferred 3.0 480 6.2 8.1 2.7 3.2 27 7 14 Total 3.0 3,010 6.9 8.2 2.6 2.9 28 9 16 Night Train Inferred 2.0 50 5.9 14 5.6 49 18 2 10 Total 2.0 50 5.9 14 5.6 49 18 2 10 All Dampier (various) Measured 3.0 490 8.9 8.0 2.3 2.2 27 12 18 Indicated 3.0 2,040 6.6 8.4 2.7 3.1 28 9 16 Inferred Various 530 6.1 8.6 2.9 7.4 27 7 14 Total Various 3,060 6.9 8.3 2.7 3.5 27 9 16 Note 1: Night Train: The Mineral Resources estimate was prepared by Optiro Pty Ltd (now Snowden Optiro) and first disclosed under the JORC Code (2012). Thunderbird: The Mineral Resource estimate was prepared by Optiro Pty Ltd (now Snowden Optiro) and first disclosed under the JORC Code (2012). The Dampier Project Mineral Resources are reported inclusive of (not additional to) Ore Reserves. Note 2: 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 3: 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 4: Thunderbird: Estimates of Mineral Assemblage are presented as percentages of the Heavy Mineral (HM) component of the deposit, as determined by magnetic separation, QEMSCANTM and XRF. Magnetic fractions were analysed by QEMSCANTM for mineral determination as follows: Ilmenite: 40-70% TiO2 >90% Liberation; Leucoxene: 70-94% TiO2 >90% Liberation; High Titanium Leucoxene (HiTi Leucoxene): >94% TiO2 >90% Liberation; and Zircon: 66.7% ZrO2+HfO2 >90% Liberation. The non-magnetic fraction was submitted for XRF analysis and minerals determined as follows: Zircon: ZrO2+HfO2/0.667 and High Titanium Leucoxene (HiTi Leucoxene): TiO2/0.94. Note 5: Night Train: Estimates of Mineral Assemblage are presented as percentages of the Heavy Mineral (HM) component of the deposit, as determined by magnetic separation, QEMSCANTM and XRF for one of 12 composite samples. Magnetic fractions were analysed by QEMSCANTM for mineral determination as follows: Ilmenite: 40-70% TiO2 >90% Liberation; Leucoxene: 70-90% TiO2 >90% Liberation; High Titanium Leucoxene (HiTi Leucoxene) and Rutile 90% TiO2 >90% Liberation, and Zircon: 66.7% ZrO2+HfO2 >90% Liberation. The non-magnetic fraction was submitted for XRF analysis and minerals determined as follows: Zircon: ZrO2+HfO2/0.667 and High Titanium Leucoxene (HiTi Leucoxene): TiO2/0.94. HM assemblage determination- was by the QEMSCANTM process for 11 of 12 composite samples which uses observed mass and chemistry to classify particles according to their average chemistry, and then report mineral abundance by dominant % mass in particle. For the TiO2 minerals the following breakpoints were used to distinguish between Ilmenite 40% to 70% TiO2, Leucoxene 70% to 90% TiO2, High Titanium Leucoxene and Rutile > 90%, Screening of the heavy mineral was not required. Note 6: HiTi Leucoxene and Rutile (%) combined for Night Train at a >90% TiO2 (as one assemblage sample utilised=> 90% rutile and HiTi Leucoxene), HiTi Leucoxene for Thunderbird > 94% TiO2 Note 7: Mineral Resources at Thunderbird are depleted for mining to 30 June 2024. Ore Reserves and Mineral Resources continued 18 Sheffield Resources Limited Annual Report 2024
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