Asiamet Resources Limited announced the signing of a Memorandum of Understanding ("MoU") with BGRIMM Technology Group ("BGRIMM") in relation to the Engineering and Procurement of the Solvent Extraction and Electrowinning ("SX-EW") plant for the BKM Copper project processing facility. The details of the executed MoU are as follows: BGRIMM will work with the Company and its consulting engineer NewPro Consulting & Engineering Services Pty Ltd. ("NewPro") to provide detailed design information for all equipment packages that BGRIMM have provided cost estimates for as part of the current BKM Copper Project Feasibility Study Update ("FS Update"). BGRIMM will complete a detailed cost estimate for an Engineering, Procurement and Construction Technical Supervision scope of work for the BKM Copper Project SX-EW processing plant for the BKM Copper Project, this will be used in the FS Update capital cost estimate.

Upon successful completion of the BKM Copper Project FS Update and a positive Final Investment Decision ("FID") by the Asiamet Board, the Company will engage with BGRIMM on the provision of a complete Engineering and Procurement ("EP") service contract for the BKM Copper Project SX-EW plant. This will include the supply of all necessary equipment for the SX-EW plant and coordination with suppliers of materials from within Indonesia. The Company will work with BGRIMM to develop the technical construction supervision requirements for the SX-EW plant when moving into the execution phase as well as commissioning services as required.

The SX-EW plant is a critical component of the BKM processing facility as it delivers the processes of metal purification and copper metal production. It can be considered a discrete facility with well-defined battery limits therefore is suitable for delivering as an engineering and procurement package.