Zeotech Limited advised it has signed land purchase agreements ("Agreements") for the freehold land underlying the Company's approved Mining Lease (ML 80126) at the high-grade Toondoon kaolin project ("Toondoon" or "the Project")), located in the North Burnett District of Queensland. The Toondoon project consists of a granted ML together with two granted EPMs across 28,000ha, and hosts one of the highest-grade raw ore kaolin deposits held under an approved ML in Australia. The Project is located in southeast Queensland, approximately 20km south of the township of Mundubbera and around 230km from the port of Bundaberg, 300km from the port of Gladstone, and 350km from the port of Brisbane.

Access to the Project is by sealed road to within 5km of the deposit. The Company has executed Agreements to acquire the underlying freehold land of approximately 682ha which covers the entirety of the project's existing's ML as well as overlapping the adjacent EPMs. The underlying land provides direct access to local roads and water sources which will be necessary for future mining operations. The acquisition accelerates time to mining and further de-risks the Toondoon project.

Further, the Agreements will provide the Company with the opportunity to potentially expand the high-grade kaolin resource in the neighbouring EPMs, which remains open in all directions. Activity associated with traffic impact assessments, mine planning, pit design, environmental authority and cultural heritage plans continue to progress, and direct ownership of the land is anticipated to streamline these processes. Toondoon's high-grade kaolin resource offers the Company an integrated supply of optimal feedstock for the production of manufactured zeolite and continues to assess opportunities for Direct Shipping Ore (DSO) of the projects near surface raw ore kaolin.

Zeotech remains engaged in positive discussions with prospective DSO counterparties located in India.