Company strategy

Pursuit Minerals is focused on seizing the opportunities provided by the global energy revolution currently unfolding to deliver superior returns to its shareholders.

The Company is developing high grade vanadium projects in Finland and Sweden, which were acquired in 2018 when the Company successfully applied for open exploration territory covering historic projects.

Sweden and Finland each have long mining histories and well established permitting regimes, as well as extensive transport, energy and communications infrastructure in place. This makes these locations preferred mining jurisdictions in a global context.

Pursuit has since made rapid progress, focusing its exploration and development activities on the Airijoki project in northern Sweden and the Koitelainen project in Finland.

At each of these projects, Pursuit has defined substantial resources and completed scoping studies that have confirmed significant potential development returns.

The scoping studies assessed the potential for both Airijoki and Koitelainen to be initially developed as mining operations producing high-grade vanadium magnetite concentrates for sale to global markets.

Further upside for Pursuit’s portfolio may come from a second phase of development involving construction of a centralised vanadium magnetite concentrate processing facility to produce Vanadium Pentoxide (V2O5) flake.

This staged development approach will reduced pre-production capital
expenditure requirements and accelerate the start of production.

Pursuit will initially focus on the rapid advancement of the Airijoki project by completing metallurgical test work and commencing discussions with potential offtake partners.

Pursuit also plans to undertake additional infill drilling to upgrade the
mineral resource to JORC Indicated and Measured status, which will facilitate completion of a Definitive Feasibility Study.

At Koitelainen, further drilling will be undertaken to provide samples for metallurgical test work and to explore probable extensions to the
Koitelainen Inferred Mineral Resource.

Pursuit is considering potential strategic partners who have the capability to provide technical and financial resources to progress both Airijoki and Koitelainen through their next stages of development.

In addition, opportunities to advance the Company’s other Scandinavian projects will continue to be assessed, as will potential to add valuable new projects to the portfolio.