Podium Minerals Limited announced an update to the Mineral Resource Estimate (MRE) at its 100% owned Parks Reef PGM Project in Western Australia. The updated inferred resource for the PGM horizon is 52.2Mt at 1.64g/t for 3 Moz 5E PGM1 which has expanded to include additional platinum group metals rhodium and iridium as well as the addition of the base metal cobalt (9,300t). The PGM reef contains 0.81g/t platinum (Pt), 0.66g/t palladium (Pd), 0.08g/t Au, 0.06g/t rhodium (Rh) and 0.03g/t iridium (Ir) plus 0.07% copper (Cu), 0.09% nickel (Ni) and 0.018% cobalt (Co). The revised resource classification results in an increase in grade from 3E PGM 1.56g/t to 5E PGM 1.64g/t including the expanded analysis for all 5E PGM elements, with rhodium and iridium now included to deliver a 5% increase in the previous MRE for a combined total of 3Moz 5E PGM. The upper PGM horizon hosts significant high-grade PGM zones totalling 12.3Mt at 2.05g/t 5E PGM (1.08g/t Pt, 0.70g/t Pd, 0.21g/t Au, 0.03g/t Rh and 0.02g/t Ir). The addition of the valuable elements rhodium and iridium adds 44% to the previous 3E PGM average weighted price per ounce of Parks Reef PGM (A$1,965/oz to $2,827/oz) plus base metals (Cu, Ni and Co). The potential to recover cobalt has enabled Podium to add this important EV metal to the suite of green-industry metals already situated within the PGM reef. Next resource upgrade targeting the addition of significant PGM ounces based on the Exploration Target of 2.7Moz - 3.8Moz3 via the stage 10 drilling results. This MRE does not take into consideration any reported stage 10 drilling results. The updated MRE for the platinum group metal (PGM) horizon at Parks Reef has been lifted to 52.2Mt at 1.64 g/t 5E PGM. This updated resource estimate uses a cut-off grade of 1g/t 5E PGM. The additional overlying Base Metal (BM) and gold (Au) horizon is 27.8Mt at 0.24% copper and 0.30g/t 3E PGM at a cut-off grade of 0.1% copper. The PGM horizon can be further divided into upper and lower PGM horizons. The upper PGM horizon model has shown it is the most likely portion of the Parks Reef to host higher platinum, palladium and gold grades. The lower PGM horizon
currently indicates higher grades of rhodium and iridium. Both the upper and lower zones within the PGM horizon demonstrate combined high grades of 5E PGMs. The PGM horizon sits physically sit below the base metal horizon towards the hanging wall. An example of the grade transition is shown in Appendix A. Importantly for early-stage mine planning, the PGM - upper horizon currently hosts 12.3Mt at 2.05 g/t 5E PGM and this high-grade allows the study team to
assess multiple mining options.