King River Resources : High Purity HPA Precursor

HIG H PU R IT Y HPA PR E C U R S O R

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Australian Securities Exchange Announcement 11 November 2020

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King River Resources Limited (ASX: KRR) is pleased to provide this metallurgical update on testwork that uses our new HPA process route, but trialing on alternative aluminum chemical feedstocks.

This new HPA testwork is being completed in parallel with completing the Speewah testwork and studies.

Metallurgical tests were completed on a readily available aluminum chemical feedstock, which is an internationally traded commodity sourced from industrial chemical processes. Our test work has established that a high purity HPA precursor can be made with many fewer process steps than required on the Speewah feedstock.

The implication is that start up HPA development may be initially focused around a Perth industrial estate, without the immediate large capital and permitting needs of building a Kimberley based acid plant adjacent to a mining and processing operation.

Seven tests were completed by TSW Analytical on the industrial Aluminum compound sourced by KRR.

The KRR process involved an initial Primary Crystallisation Stage to precipitate a crude Aluminium product which is then purified by two stages of Recrystallisation to precipitate the HPA precursor compound shown below. The HPA precursor is of very high purity, with most elements below 1ppm (see Table 1). This precursor may be suitable for the production of 4N (99.99% Al2O3) HPA after calcination and washing.

High Purity Precursor Compound

Calcination at 1250°C of this HPA precursor and the Speewah precursor (KRR ASX release 13 October 2020) is underway. This important final process step will focus on ensuring no contamination is introduced during the heating and assaying processes so a 4N (99.99% Al2O3) HPA is produced.

Table 1: Impurity Assays: Batch assays of HPA precursor material

HPA Precursor	Test 2	Test 3	Test 4	Test 5	Test 6	Test 7	Test 8
	Tests	St 2	St 2	St 2	St 2	St 2	St 2	St 2
mass (g)	118.29	227.89	544.59	106.42	109.32	108.88	105.55
Na		ppm	< 2.4	< 2.4	1.08	0.631	0.502	0.834	0.407
Mg		ppm	< 0.13	< 0.13	< 0.21	< 0.05	< 0.05	< 0.05	< 0.05
Si		ppm	< 0.16	< 0.16	0.513	< 1.1	< 1.1	< 1.1	< 1.1
P		ppm	< 1.8	< 1.8	< 1.8	< 2.4	< 2.4	< 2.4	2.58
K		ppm	2.24	2.01	2.65	1.47	2.7	2.08	3.06
Ca		ppm	0.504	0.221	0.485	0.334	0.227	0.291	0.325
Ti		ppm	< 0.22	< 0.22	< 0.33	< 0.19	< 0.19	< 0.19	< 0.19
V		ppm	0.198	0.198	0.227	0.487	0.092	0.41	0.265
Cr		ppm	0.123	0.108	0.22	0.055	0.09	0.089	0.068
Mn		ppm	< 0.03	< 0.03	0.042	< 0.02	< 0.02	< 0.02	< 0.02
Fe		ppm	< 0.49	< 0.49	< 0.7	< 0.89	< 0.89	< 0.89	< 0.89
Co		ppm	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01
Ni		ppm	< 0.02	< 0.02	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01
Cu		ppm	< 0.12	< 0.12	< 0.22	< 0.21	< 0.21	< 0.21	< 0.21
Zn		ppm	< 0.11	< 0.11	< 0.07	< 0.05	< 0.05	< 0.05	< 0.05
Ga		ppm	0.031	0.757	1.21	0.614	0.108	0.513	0.066
Rb		ppm	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01
Sr		ppm	0.053	0.065	0.034	0.026	0.038	0.033	0.037
Zr		ppm	0.023	0.019	0.014	0.01	0.011	< 0.01	0.219
Nb		ppm	< 0.01	< 0.01	0.037	0.011	0.021	< 0.01	0.04
Mo		ppm	< 0.01	< 0.01	0.02	0.012	0.012	0.012	0.012
Cs		ppm	< 0.01	0.058	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01
Ba		ppm	0.024	0.024	0.03	< 0.01	0.019	0.022	0.049
Pb		ppm	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01	< 0.01

This announcement was authorised by the Chairman of the Company.

Anthony Barton

Chairman

King River Resources Limited

Email: [e-mail]

Phone: [phone]

Statement by Competent Person

The information in this report is based on information compiled by Ken Rogers (BSc Hons) and fairly represents this information. Mr. Rogers is the Chief Geologist and an employee of King River Resources Ltd, and a Member of both the Australian Institute of Geoscientists (AIG) and The Institute of Materials Minerals and Mining (IMMM), and a Chartered Engineer of the IMMM. Mr. Rogers has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rogers consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

254 Adelaide Tce

Perth WA 6000

PO Box Z5518, Perth WA 6831

PHONE: [phone]

FAX: [phone]

WEB:www.kingriverresources.com.au

Appendix 1: King River Resources Limited HPA Project JORC 2012 Table 1

SECTION 1 : SAMPLING TECHNIQUES AND DATA

Criteria		JORC Code explanation		Commentary
Sampling		Nature and quality of sampling (e.g. cut channels, random chips, or		This ASX Release dated 11 November 2020 provides an update on KRR HPA Project, including
Techniques		specific specialised industry standard measurement tools appropriate to		some hydrometallurgical processes involved in the production of high purity alumina (HPA) from
		the minerals under investigation, such as down hole gamma sondes, or		alternative Aluminium feedstocks from other industrial chemical processes.
		handheld XRF instruments, etc.). These examples should not be taken		Chemical precipitation and recrystallisation purification methods have been used in the
		as limiting the broad meaning of sampling.
			separation and precipitation of the high purity Aluminium precursor compound reported in this
		Include reference to measures taken to ensure sample representivity		announcement. The Precursor compound is then calcined to high purity alumina product.
		and the appropriate calibration of any measurement tools or systems		The process and reagents used are commercial-in-confidence.
		used.		Samples of the industrial Aluminium feedstock used in the tests reported were about 82g, 195g
		Aspects of the determination of mineralisation that are Material to the		and 390g splits of a crystalline powder.
		Public Report.
		In cases where 'industry standard' work has been done this would be
		relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m
		samples from which 3 kg was pulverised to produce a 30 g charge for
		fire assay'). In other cases more explanation may be required, such as
		where there is coarse gold that has inherent sampling problems.
		Unusual commodities or mineralisation types (e.g. submarine nodules)
		may warrant disclosure of detailed information.
Drilling		Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air		Not Applicable. The samples were generated from a feedstock of industrial chemicals.
techniques		blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple
		or standard tube, depth of diamond tails, face-sampling bit or other
		type, whether core is oriented and if so, by what method, etc.).
Drill sample		Method of recording and assessing core and chip sample recoveries		Not Applicable.
recovery		and results assessed.
		Measures taken to maximise sample recovery and ensure		Not Applicable.
		representative nature of the samples.
		Whether a relationship exists between sample recovery and grade and		Not Applicable.
		whether sample bias may have occurred due to preferential loss/gain of
		fine/coarse material.
Logging		Whether core and chip samples have been geologically and		Not Applicable.
		geotechnically logged to a level of detail to support appropriate Mineral
		Resource estimation, mining studies and metallurgical studies.
		Whether logging is qualitative or quantitative in nature. Core (or		Not Applicable.
		costean, channel, etc.) photography.
		The total length and percentage of the relevant intersections logged.		Not Applicable.