Sovereign Metals Limited reported that re-assaying of historical hand-auger holes has demonstrated high-grade rutile mineralisation hosted in free dig, near surface saprolite material across the Company's 100%-owned central Malawi exploration licences. The potential to produce rutile from the soft saprolite via a simple process flowsheet using typical mineral sands separation methods was demonstrated during 2018 laboratory test work. In 2018, Sovereign reported that it had successfully recovered rutile concentrates from tailings at the Malingunde graphite project (ASX announcement 14th August 2018). This work showed rutile was the dominant TiO2 mineral, with lesser leucoxene. Rutile in concentrates was shown to be generally present as discrete, clean and liberated grains. Overall, this program demonstrated the ability to produce rutile concentrates from the soft saprolite material using typical mineral sands processing methods. The initial sighter mineralogy and metallurgical program showed that grades of 0.86% TiO2 recovered to concentrate were achieved at a recovery of 58% from an initial sample grading 1.49% TiO. The concentrates produced during the test-work ranged between 78% and 90% TiO2. The encouraging 2018 mineralogy and metallurgy results encouraged the company to review its historical exploration samples in order to assess the possibility that rutile may be more widespread across its large ground holding in central Malawi. A broad regional spread of 125 historical hand-auger drill holes were selected for re-assay to assess the overall rutile potential across Sovereign's large tenement holding in Malawi. Results demonstrate that rutile mineralisation is likely to be present over vast areas and is hosted in soft, "free-dig" saprolite. Previous 2018 mineralogical and sighter metallurgical test-work on bulk samples from Malingunde demonstrated: Rutile as the dominant TiO2 mineral, with lesser leucoxen; Rutile in concentrates generally present as discrete, clean and liberated grains; The ability to produce rutile concentrates using typical mineral sands processing methods. Highlights of the 125 shallow hand-auger holes selected for re-assay include: 26 holes (21%) have a weighted average grade of 2.34% TiO (2.0% TiO lower cut-off); 96 holes (78%) have a weighted average grade of 1.89% TiO (1.5% TiO lower cut-off). Examples of best holes from the broader Malingunde and Lifidzi areas are listed below with all intercepts being from surface and remaining open at depth: Malingunde: 9m @ 3.29% TiO2 10m @ 3.02% TiO2 12m @ 2.39% TiO2 11m @ 2.34% TiO, 10m @ 2.31% TiO 10m @ 2.29% TiO 9m @ 2.14% TiO 12m @ 2.06% TiO2, Lifidzi:10m @ 2.94% TiO 7m @ 2.62% TiO 5m @ 2.49% TiO, 7m @ 2.37% TiO, 7m @ 2.25% TiO 10m @ 2.24% TiO, 7m @ 2.19% TiO, 9m @ 2.17% TiO. Mineralogical and metallurgical test-work is required in order to ascertain mineralogy of regional samples and further optimise the flowsheet to improve rutile recoveries and concentrate grades. A work program to further assess the scale, grade and rutile recoverability of prospects and to generate new targets across the Company's substantial ground position is to commence shortly.