Castile Resources Limited ('Castile' or the 'Company') is pleased to advise that it has engaged with the Northern Territory Land Development Corporation on a parcel of land at the $2 billiondollar Middle Arm Sustainable Development Precinct (MASDP) located in Darwin.

The MASDP is a key driver of the Northern Territory Governments' (NTG) goal for a $40B economy.

The precinct will be purpose built for critical minerals processing and as a clean energy production hub providing enormous benefit to Castile's development strategy. The Land Development Corporation (LDC) and the NTG have acknowledged the suitability of Castile's downstream processing plant to operate within Middle Arm and will work to provide a suitable site to accommodate Castiles' timeline and functional requirements. The 'front end' mining and beneficiation to concentrate of the Rover 1 ore would remain as planned in Tennant Creek.

The move to the precinct would allow the back end 'refining' section of the Castiles' processing plant to be located at the MASDP. The bulk concentrate containing gold, copper and cobalt would be transported from Tennant Creek on the existing rail network to the Castile refining facility at the precinct. The outputs would be copper metal and cobalt metal available for direct sale to end users of these critical minerals.

The gold from Rover 1 would also be processed to a gold dore' at the MASDP site. Castile is also investigating the expansion of the downstream facility to enable the processing of thirdparty concentrates and in doing so providing an option that could enhance the production of critical minerals within Australia, utilising, protecting and retaining sovereignty over Australia's precious resources within the region. Castile's other co-product from its own production is a finely ground 96.5%magnetite1 product suitable for other industrial uses including coal washing. It is still planned to separate and prepare that product at the Rover 1 project site.

Middle Arm is located 40kms by road from Darwin City and 6kms from Palmerston City. The immediate benefits of this strategy include: Reduces the site footprint and resulting impact to the environment, relocating to a precinct where the impacts can be more efficiently managed. Reduces the capital infrastructure and construction complexity required in a remote location. Reduces the competition for a skilled workforce in the region, which has seen a tighten labour market with multiple minerals projects commencing construction. MASDP provides a framework for streamlined environmental approvals that target considerable reductions in the time to construction. MASDP provides immediate access to road, rail, port and logistics infrastructure. Opportunity to connect with multiple giga-scale renewable energy providers to significantly reduce project emissions. Proximity to a stable, highly skilled local workforce from neighbouring Darwin and Palmerston enabling employees to reside with their families in a vibrant city. Significantly improves logistics regarding the transport of consumables and waste removals required in the refining process

Tony Stubbin, CEO of the Land Development Corporation commented: 'The Land Development Corporation (LDC) welcomes Castile's interest in land in the Precinct for its 'Downstream Refining Facility', a proposed gold, copper and cobalt processing facility in the Precinct. 'To enable Castile to progress its project funding planning and give comfort to prospective investors, based on information contemplated to date, LDC considers the Middle Arm Sustainable Development Precinct and surrounding area to be a suitable location for Castile's proposed 'Downstream Refining Facility'. With the Northern Territory Government, we intend to collectively work with the Castile team to identify a specific site at MASDP tailored to the project timeline and functional requirements. 'Following identification of a specific site, a formal land allocation would be required to follow the Land Allocation Framework for the Precinct in the future'.

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