Juno Minerals Limited (Juno or the Company) is progressing the Mount Mason DSO Hematite Project (the Mount Mason Project or Project), which is a high-grade direct shipping ore (DSO) hematite, near-term project. The Project is located 130km by road northwest of the town of Menzies, Western Australia

Project Approvals

The Company has all of the statutory approvals for both Mount Mason and the Yunndaga Rail Siding, paving the way for Project development

Logistics and Supply Chain

With the Project now fully approved for development, with DSO export capacity emerging at the Esperance Port in the iron ore circuit, Juno is working with the Southern Ports Authority (Southern Ports) in relation to securing capacity. Juno now plans to develop the Yunndaga Rail Siding from Project commencement, reducing road haul distance from 287 to 137 kilometres, whilst offsetting this with an increase in rail haul distance from 125 to 508 kilometres, significantly reducing operating costs. This justifies payback on the additional capital required for the Yunndaga Rail Siding development. Juno will consider options to monetise the Yunndaga rail siding asset by opening it up as a multi-user facility in conjunction with an infrastructure group at the appropriate time. A full geometric rail and feature survey that satisfied the requirements of Arc Infrastructure Pty Ltd was undertaken during the quarter on over 4km of track that covers the Yunndaga Rail Siding site. The 85% design level on both the rail crossing and siding will now be undertaken.

MOUNT IDA MAGNETITE PROJECT

The Mount Ida Magnetite Project (the Mount Ida Project) is a large and significant project, which presents a great opportunity to become a long-life magnetite mine. In the September quarter, the Company commenced a process to attract a major partner to earn in at project level, with the capacity to complete the Feasibility Study and develop the project. The Mount Ida Project is on a granted Mining Lease, has significant supporting tenure for infrastructure, and expansive water exploration licences over areas prospective for good quality water. The Mount Ida Project remains the largest magnetite resource and one of the most technically advanced magnetite projects in the Yilgarn. Other magnetite projects in the Yilgarn region are shown in Appendix 2 to this Report

Contact:

Investor

Greg Durack

Managing Director and CEO

P: + 61(0)8 9346 5599

E: investorrelations@junominerals.com.au

FORWARD LOOKING STATEMENTS AND IMPORTANT NOTICE

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this announcement are to Australian currency, unless otherwise stated

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