European Green Transition plc announced its first metallurgical test work results from the Olserum Rare Earth Elements ("REE") project in south Sweden. Test work confirms that the mineralisation style at Olserum is capable of producing a REE-rich concentrate from simple magnetic separation followed by standard flotation. The grade of the final concentrate exceeded my expectations, and the mineralogy of the final concentrate was dominated by the target minerals with 40.25% being monazite and 24.25% being xenotime which is very favourable.

It demonstrates that a low volume high-grade concentrate can be produced at Olserum and can potentially be processed at a 3rd party's facility, which is significantly more cost effective than developing a bespoke processing facility. Test work such as this is crucial to derisk further investment and demonstrate to potential partners that the mineralisation style can be processed using conventional and relatively simple processing techniques. Test work such as this are crucial to derisk further investment.

The work improves upon the earlier testing in 2013 which was paid for by the European Commission's EURARE research project. The new test work was carried out at the GTK laboratory in Finland and overseen by the same expert who was involved in the previous work. Recent fieldwork including rock chip and channel sampling has identified the same style of mineralisation across the developing district-scale REE system and this test work gives confidence that the mineralisation style is amenable to producing a low volume concentrate with very good recoveries.

Flow Sheet And Test Work A composite sample weighing approximately 135Kg was first crushed to -1.5 mm and ground to a suitable size for mineral liberation in a lab rod mill. The non-magnetic product from the WLIMS was reported to bulk REE and apatite flotation after dewatering by filtration. A total of 20 WLIMS and bulk flotation tests were completed to test different parameters and establish the optimal flotation conditions.

The bulk REE and apatites concentrate was further processed to separate the REE-phosphates from the apatite by trialling various methods including HGMS, gravity concentration with a shaking table and further flotation. The separation of the bulk REE concentrate into a REE concentrate and apatite concentrate was a new development from previous test work and it was found that the HGMS was somewhat successful in upgrading the REE grade of the concentrate albeit with some REE losses to the apatite concentrate. The final upgraded concentrate produced after the HGMS had the following grades: Sample Results - Final Concentrate after HGMS REE Note REO Conversion (REE2 O3) % REO Nd 5.010 XRF 1.1664 5.844 Pr 1.5 mm and ground to the suitable size for mineral liberation in an lab rod mill.

The non -magnetic product from the W LIMS was reported to bulkREE and apatite fl rotation after dewatering by filTration. A total of 20WLIMS and bulk fl rotation tests were completed to test different guidelines and establish the optimal flotation condition. The bulk REE and Apatite concentrate was further processed to separate The bulk REE-ph phosphates from the apatite By trialling various methods including HG MS, gravity concentration with a shaking Table and further flotation.

The separated of the bulk REE concentrate in a REE concentrate into a RE EE concentrate and apatite concent was a new development from previous testing and it was found that the HCP was somewhat successful in upgrading theREE grade of the concentrate albeit With some REE losses to the Apatite concentrate. The final upgrade concentrate produced after the HGMS has the following grades: Sample Results: Final Concentrate after HGMS had the following grades. Sample Results - Final Concentrate After HGMS REO Conversion (REE 2 O3) % REO Conversion (REE2O Conversion (REE2) % REO Nd5) % REO Nd.