Suvo Strategic Minerals Limited announced that it has received its first binding purchase order from C&D Logistics Group Co Ltd. ("C&D"). The purchase order covers up to 800 tonnes (+/-10%) of hydrous kaolin to be supplied over the remainder of calendar year 2023 and is valued at AUD 0.66 million. Importantly, the product supplied under this purchase order attracts a 35% price premium compared to the weighted average selling price achieved in H2 CY2022, which is in line with a primary strategic focus of the Company, being the diversification of the Company's product offering and a focus on premium end user markets in the Asia Pacific region.

This first purchase order comes off the back of the 80 tonnes of Pittong product supplied to C&D in late November 2022 for use in commercial-scale trials and demonstrates the quality of product at Pittong, and the Company's ability to turn product trials into binding purchase orders. The Company will continue to work with C&D over the coming months to place additional sales to customers in the Asia Pacific region. The original cooperation agreement dated 25 May 2022 between Suvo and C&D set out terms for the Companies to focus on the development and growth of 'other kaolin related product' markets utilising Pittong Kaolin, with a view to developing long-term relationships with customers across a range of industries, products and locations.

C&D continue with both lab-scale testing and commercial trials on Pittong's other products supplied throughout H2 CY2022. Pending the results of these commercial-scale trials, Suvo anticipates receiving further purchase orders. The supply of hydrous Kaolin under the Purchase Order will be between 1 March 2023 and 31 December 2023.

Quantity is 800 tonnes (+/-10% allowed).