Corella Resources Ltd. has achieved its stated HPA ("High Purity Alumina") objective by achieving 5N+ (99.99957%) on a 25kg representative bulk composite sample from its 100% owned Tampu Project located near the town of Beacon, 270kms from Perth, Western Australia. The outstanding metallurgical results combined with 5N+ purity have confirmed Tampu as Australia's larger and premier specification bright white kaolin deposit, particularly as feedstock for HPA applications. Due to the extremely low levels of deleterious materials within the Tampu kaolin has allowed Corella to achieve these outstanding results via a simplified, lower cost and more environmentally friendly process flowsheet.

The HPA market includes various technology applications including lithium ion batteries, LED lights and semi-conductors which can attract prices between approximately $40,000 - $70,000 per ton. Along with being Australia's premier specification kaolin deposit, Tampu has the scope to underpin multiple decades of production and the capacity to supply multiple high value markets via numerous scalable mining and processing options. The Company intends to increase its production profile as the demand for HPA increases in line with the uptake of batteries for green energy storage.

The Company will leverage its class leading position with a balanced approach, assessing all potential product streams including short-term direct shipping ore (DSO) options and progressing to a high end HPA product that attracts significantly higher prices. Australia's Critical Minerals: As part of the 2022 Critical Minerals Strategy, the Australian government announced it has added high-purity alumina (HPA) to the critical minerals list. These minerals are used in a variety of technologies, including lithium-ion batteries and semiconductors which are growing industries globally.

The Company is extremely pleased with the inclusion of HPA to the list of Australia's Critical Minerals and the recognition of the role that HPA will play in the de-carbonisation of the planet. The Tampu Deposit is displayed on the Map of Australia's Critical Minerals, the map highlights the projects proximity to key infrastructure including road, rail, power and port strengthening the case for value adding downstream processing of Tampu's premium HPA feedstock within Western Australia. Critical minerals are defined as minerals and elements (solid and gaseous) that are vital for modern technology and whose supply may be at risk of disruption.

The Australian critical minerals list comprises aluminium (high-purity alumina), antimony, beryllium, bismuth, chromium, cobalt, gallium, germanium, graphite, hafnium, helium, indium, lithium, magnesium, manganese, niobium, platinum group elements, rare earth elements, rhenium, silicon (high-purity quartz or silica), scandium, tantalum, titanium, tungsten, vanadium and zirconium. Further exploration: The Company is currently securing a sonic drill rig for a second phase drill program aimed at increasing the size and improving the confidence of the inferred resource for conversion to Reserves to underpin forecast financial information and Project economics. The Tampu deposit remains open in all directions and has numerous high priority drill targets across the tenement package.

About the kaolin and HPA markets: Historically used in the paper and ceramics industry, kaolin is now viewed as a white gold new economy commodity, able to be processed into metakaolin or High Purity Alumina (HPA). Kaolin is exceptionally well-suited natural material to produce High Purity Alumina (HPA) used in high end technology such as Lithium Ion Batteries (LIB). The high purity bright white kaolin deposit at Tampu has extremely low levels of impurities, which is critical to all existing markets and end user products.

The ultra-high purity distinguishes it as a leading kaolin project, particularly as feedstock for HPA applications.