Astron Corporation Limited announced that it has executed an updated Memorandum of Understanding with Yarriambiack Shire Council. Astron's Tier-1 Donald Rare Earth & Mineral Sands project primarily resides within the Yarriambiack Shire in western Victoria. The MOU provides for Astron and YSC to work cooperatively and collaboratively to maximise mutually beneficial community and economic outcomes from the development and operation of the Donald project.

The MOU, which represents an important milestone in the development of Donald, was signed by representatives of YSC and Directors of the Company at a ceremony held 23 November 2022 in Warracknabeal. The MOU focuses on maximising the local social and economic opportunities associated with the project. Astron and YSC are committed to cooperation in the areas of common interest to achieve positive environmental, social and economic outcomes for the communities within the Shire.

The core areas for collaboration between the two parties are: Optimising Economic and Social Outcomes ­ to work cooperatively and in good faith to facilitate as many positive outcomes from the Donald project as possible whilst also working jointly to minimise and mitigate any potential negative economic employment and social outcomes associated with the project; and Building Relationships to Support the Donald Project ­ to work cooperatively and in good faith to develop an advocacy and relationship management program which will aid the timely delivery of the project and wider community benefits. Astron, looks forward to a long and mutually beneficial relationship with Yarriambiack Shire Council and the residents of the shire.