Sheffield Resources – Quarterly Activities Report – June 30th, 2024

Report Highlights:

• Sheffield Resources, holding a 50% interest in Kimberley Mineral Sands (KMS), has reported notable advancements at the Thunderbird mine during the June quarter. The mine achieved significant production improvements, mining 2.5 million tons of ore and producing 165,014 tons of concentrate. Production is expected to stabilize between 2.5 and 3.0 million tons per quarter, with the process plant performing at or above design specifications.
• Sheffield Resources made significant progress on its South Atlantic Project in Brazil, with a 10,000-meter drilling program well advanced and expected to be completed by the September quarter. Additionally, a pre-feasibility study and a Mineral Resource estimate for the project are anticipated in the same timeframe. Despite regional flooding, the project remains on track for these key milestones.
• As of June 30, 2024, Sheffield Resources reported a cash balance of AUD 9.9 million. The company has announced an investor and shareholder webinar scheduled for July 25, 2024, to discuss the quarterly results and provide further updates on their ongoing projects and financial status.