Tantalex announced that its 70% owned DRC subsidiary United Cominiere SAS has been notified by the Ministry of Mines that research permits PR 12447 and PR12448 have now been approved by Ministerial Decree for transformation to Mining Concessions. Tantalex may now proceed immediately with the construction of the TiTan tin and tantalum alluvial concentrate plant. Projected to produce approximately 1'400 dmt of Tin concentrate and 220 dmt of Tantalum concentrate per annum.

Generating app. $30 million in revenue annually at current commodity prices. Production scheduled to commence in March 2023.

Equipment and machinery already arrived and trial tested in Manono, ready for assembly on site. Tantalex has designed the process to ensure the proper rehabilitation of the mining area for reforestation and/or agriculture. The majority of the alluvial area has already been mined by artisanal miners leaving the ground surface extremely scarred and unsafe.

The mining method will be the conventional strip mining in an upstream direction (North to South) across the identified "Old River Channel" to minimise the influence of water when the mineral rich "G2" gravel is excavated. Following this sequence, the overburden of each strip will be backfilled with the excavators into the previously mined out strip, rehabilitating the mined- out areas with fertile ground as the mining continues. The Plant which has been designed to be modular and easy to mobilize, has now been trial tested in Manono and is being mobilized to site.

Commissioning and production is scheduled to commence in March 2023. The modular plant will be able to produce 120t of tin concentrate and 20t of tantalum concentrates per month generating important revenues which will allow the development and exploration of additional assets in the Manono region.