Key Highlights:

• Retention Licence application lodged for the Goschen Central mineral sand project.
• Goschen Central is a large and robust critical and strategic minerals project located in a jurisdiction that is demonstrating support for critical metals.
• The retention licence application is a key step, following recent milestones:
✓ Updated Mineral Resource (1)
✓ Successful bulk metallurgical testwork program and product marketing (2)
✓ Completion of Scoping Study (3)
• The proposed 10-year licence supports ongoing exploration and development activities

ACDC Metals Limited (ASX: ADC) is pleased to announce the submission of a retention licence application with Department of Energy, Environment and Climate change for its Goschen Central Heavy Mineral Sand and Rare Earth Project located in western Victoria

ACDC Metals CEO Tom Davidson commented:

“The lodgement and acceptance of the application for Retention licence is another key step forward for the Goschen Central Project. Over the past 12 months the company has delivered significant advances for the project, demonstrating the potential to produce critical minerals; zircon, titanium and rare earth metals. The recently completed scoping study shows there is scale to the project with the mine plan only utilising 15% of the total deposit.

During the application period we will be progressing further mineralogy analysis for the project. This was identified as an opportunity during the 2024 mineral resource estimate update. This work will provide greater geological confidence in the estimate allowing for greater definition of the high-grade zone.

Shareholders can look forward to continuing information and progress to be announced to the market about the Goschen Central Project.”

The proposed retention licence covers the current exploration licence (EL) 5278 plus an additional 9
square kilometres on the southern end, where mineralisation is shown to extend. ACDC Metals expects the application process to be completed in Q4 CY2025.

Supportive Victorian Regulatory Landscape. The Victorian Government continues to demonstrate
strong support for resource development, with several recent project approvals including:

• Agnico Eagle - Fosterville project – Expansion of operations
• VHM - Goschen Project – Environment Effects Statement (EES)
• VHM - Goschen Project - Mining Licence
• WIM Resources - Avonbank Project - EES
• Gippsland Critical Minerals – Fingerboards Mineral Sands Project – Retention licence renewal.

(1) ASX Announcement – ACDC Metals Delivers Significant Upgrade at Goschen Central – 3/12/24
(2) ASX Announcement – Met. Testwork program Completed for Goschen Central – 17/2/25
(3) ASX Announcement – Outstanding Economic Potential with Goschen Central Study – 12/6/25

Downstream REE processing technology generates high incremental economic returns with a
substantially lower energy intensity and waste footprint than competing sulphation roast flowsheets.

As per listing rule 5.19.2, ACDC Metals confirms that the material assumptions underpinning a
production target or related forecast financial information as initially disclosed in prior announcement, remain valid and haven’t materially changed when reporting on those matters subsequently.

For complete information refer to announcement released to the ASX on 25/6/25 which can be viewed at www.acdcmetals.com.au.

Important Note - Not financial advice
This video is provided for information purposes only, do not construe as offering financial advice. Consult professional advice before making any investment decisions, ACDC Metals Ltd may not be suitable for your investment needs.

Competent Persons Statement

There is information in this report relating to Mineral Resources, Metallurgical test work and marketing as previously announced:
1. The Mineral Resource Estimate for the Goschen Central Project, ASX Announcement 3/12/24.
2. Metallurgical test work and Marketing program, ASX Announcement 17/2/25.

Other than as disclosed in those announcements, the company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Scoping Study

The information related to the Scoping Study reported here has been compiled from source reports as completed by independent consultants and other information and has been reviewed by Mark Saxon who is a Member of the Australian Institute of Mining and Metallurgy. Mr Saxon has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Saxon is the ACDC Metals executive director.

Outstanding Economic Potential Demonstrated with Goschen Central Scoping Study.

0:00 Introduction & Milestone
0:20 Study Inputs & Process
0:55 Purpose of Scoping Study
1:45 Project Economics – Phase 1
2:20 Phase 2 – Downstream Processing
3:10 Dual Product Advantage
4:00 Resource Upside & Sensitivities
5:15 Next Steps: Mineralogy Program
6:10 Path to Mining License
6:50 Strategic Vision & Importance
7:50 Government Support
8:25 Closing Remarks

ACDC Metals Limited (ASX: ADC) (ACDC Metals or the Company) is pleased to announce the results of the “Goschen Central Scoping Study” (the “Study”) completed by independent engineering consulting firms Mineral Technologies Ltd and METS Engineering Group Ltd. The Goschen Central project provides compelling economics as a heavy mineral sand and rare earth producer as either a standalone heavy mineral sand plant (Phase 1) or when vertically integrated with ACDC Metals’ proprietary Rare Earth Processing Plant Project (Phase 2). Phase 2 enables onshore downstream processing of REEs.

Key Highlights

• Study results highlight strong economics at the Goschen Central heavy mineral sand and rare earth element Project in Victoria.
• Project delivers a low capital intensity path to secure a domestic semi-refined critical and strategic metals supply, supported by a robust conventional zircon and titania industrial minerals operation.
• Downstream REE processing technology generates high incremental economic returns with a substantially lower energy intensity and waste footprint than competing sulphation roast flowsheets.
• Significant financial contribution delivered from high demand magnetic rare earth elements - terbium, dysprosium, neodymium and praseodymium.
• Further upside remains with exploration of the high-grade zone as highlighted in the 2024 Mineral resource update and conversion of inferred resource.
• Results reinforce Goschen Central’s place as a key project in the Victorian Critical minerals roadmap .


ACDC Metals CEO Tom Davidson commented:

“The ACDC Metals team is very pleased with the results of the heavy mineral sand and rare earth element Scoping Study, a milestone that reflects a focused delivery since listing. Goschen Central is a generational-scale deposit that can deliver strong cashflows and still with plenty of upside remaining from further technical and exploration work.

The vertical integration with the caustic crack process to value-add the contained REEs is a first step in the downstream processing that delivers both attractive returns and a strategically important domestic source of critical metals.”


For complete information
Please refer to the announcement released to the ASX on 11 June 2025 and also 3 December 2024 which can be viewed on the website www.acdcmetals.com.au. Please also refer to the Disclaimer and Cautionary Statement on page 2 of the announcement, and also the disclaimer found at the end of the video and below.

Important Note - Not financial advice
This video is provided for information purposes only and should not be construed as offering financial advice. Please consult professional advice before making any investment decisions, ACDC Metals Ltd may not be suitable for your investment needs.

Competent Persons Statement

There is information in this report relating to Mineral Resources, Metallurgical test work and marketing as previously announced:
1. The Mineral Resource Estimate for the Goschen Central Project, ASX Announcement 3 December 2024.
2. Metallurgical test work and Marketing program, ASX Announcement 17 February 2025.

Other than as disclosed in those announcements, the company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Scoping Study

The information related to the Scoping Study reported here has been compiled from source reports as completed by independent consultants and other information and has been reviewed by Mark Saxon who is a Member of the Australian Institute of Mining and Metallurgy. Mr Saxon has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Saxon is the ACDC Metals executive director.