Announcement PDF Battery Minerals Developer Focused on Critical Mineral Vanadium Future Facing Commodities Singapore Conference Presentation 26-28 March 2024 ASX:VKA Disclaimer & Competent Persons Statements Disclaimer This presentation and any accompanying verbal presentation (together the Presentation) are confidential and have been prepared by Viking Mines Limited (Viking or the Company) and approved by the Board of the Company. The information contained in the Presentation (Information) is summary only and should be read in conjunction with any other documents provided to you by the Company. The Information is current as at 21 March 2024 and the Company does not undertake to provide any additional or update information, whether as a result of new information, future events or results or otherwise. By receiving the Presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. The Company has prepared the Presentation based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Viking, or related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, agents or advisers (Agents) guarantee or make any representations or warranties, express or implied, as to or take responsibility for, the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Viking does not represent or warrant that this Presentation is complete or that it contains all material information about Viking or which a prospective investor or purchaser may require in evaluating a possible investment in Viking or acquisition of shares. To the maximum extent permitted by law, Viking and its Agents expressly disclaim any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of information contained in this Presentation, or otherwise arising in connection with it. Any forward-looking statements in this Presentation, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of Viking and which are subject to change without notice and could cause the actual results, performance or achievements of Viking to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and recipients of this Presentation are cautioned not to place undue reliance on such forward-looking statements. The information contained in this Presentation is for information purposes only, does not constitute investment or financial product advice (nor taxation, accounting or legal advice) and is not intended to be used as the basis for making an investment decision. In providing this Presentation, Viking has not considered the objectives, financial position or needs of any particular recipients. Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. This Presentation is not a prospectus, product disclosure statement or other offer document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Commission or any other foreign regulator) and is not, and does not constitute, an invitation or offer of securities for subscription, purchase or sale in any jurisdiction. In particular, this Presentation does not constitute an invitation or offer of securities for subscription, purchase or sale in the United States or any other jurisdiction in which such an offer would be illegal. The securities referred to in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly in the United States. The information in this Presentation is strictly confidential. It may not be disclosed, reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Viking. Competent Person’s Statements Information in this release that relates to Exploration Results is based on information compiled by Mr Julian Woodcock, who is a Member and of the Australian Institute of Mining and Metallurgy (MAusIMM(CP) – 305446). Mr Woodcock is a full-time employee of Viking Mines Ltd. Mr Woodcock has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. The information in this announcement that relates to the Mineral Resource estimate and Pit Optimisation is derived from information compiled by Mr Dean O’Keefe, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM, #112948), and Competent Person for this style of mineralisation. Mr O’Keefe is a consultant to Viking Mines Limited, and is employed by MEC Mining, an independent mining and exploration consultancy. Mr O’Keefe has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. The information contained in this report, relating to metallurgical results, is based on, and fairly and accurately represent the information and supporting documentation prepared by Mr Damian Connelly. Mr Connelly is a full-time employee of METS Engineering who are a Contractor to Viking Mines Ltd, and a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Connelly has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. ASX:VKA vikingmines.com 2 Corporate Overview ASX Code Share Price VKA $0.011 (21 March 2024) Market Cap Cash $11.3M 1.025B Enterprise Value $5.1M (Undiluted) Board and Management Shares on Issue $6.2M (as at 30 Dec 23) Charles Thomas Julian Woodcock Michael Cox Bevan Tarratt Chairman Managing Director & CEO Non-Executive Director Non-Executive Director $0.020 20 $0.016 16 $0.012 12 $0.008 8 $0.004 4 $- 21/03/2023 ASX:VKA 21/04/2023 21/05/2023 21/06/2023 21/07/2023 vikingmines.com 21/08/2023 21/09/2023 21/10/2023 21/11/2023 21/12/2023 21/01/2024 21/02/2024 - Volume (m) Price (A$/Share) VKA Share Price Performance Other Shareholders 37% Top 20 (excl Dir) 50.75% Directors 12.25% 3 Two Projects Located in a Tier 1 Jurisdiction WA, Ranked #2 in 2022 Fraser Institute Annual Survey Canegrass Battery Minerals Project • Outcropping hard-rock vanadium magnetite project, located in the Murchison Region, WA. • 60km from the township of Mount Magnet, with sealed airstrip & regular commercial flights. • Bitumen road and gas pipeline 22km from the Resource. • 419km to established Port at Geraldton. First Hit Lithium Gold Project • Located 40km west of Menzies in WA Eastern Goldfields. • 493km2 of highly prospective tenure (granted & under application).i • 60km south and along strike of Delta Lithium's Mount Ida Project. • Centred around the historic high-grade First Hit Gold Mine. ASX:VKA vikingmines.com i) Viking Mines (ASX:VKA) ASX Announcement 2 February 2024 - VIKING WINS BALLOT FOR LITHIUM TENURE - UPDATED 4 Vanadium Critical, Industrial and Battery Mineral Established Critical Mineral with Massive Growth Potential 91% of global production comes from BRICS jurisdictions Market Supply i 3% Established industrial mineral, primarily used in the steel industry 6% China Main component in Vanadium Redox Flow Batteries (VRFB) Forecasted Demand i 90% of supply used by the steel sector, new mines needed for VRFB uptake Supply deficit predicted to grow from 2024 onwards 5% Russia 8% South Africa Total Global Supply ~120Kt vanadium pa 17% Brazil 61% USA Other ASX:VKA vikingmines.com i) US based vanadium specialist: TTP Squared, Inc 5 Vanadium Alternate Energy Storage Solution Vanadium Redox Flow Battery (VRFB) Significant advantages over Li-Ion batteries • Growing demand for safe long lifespan energy storage, with limited degradation. VRFB battery revolution is underway. • Commercial production occurring globally – >33 companies producing VRFB’s including Sumitomo & LG. • Global VRFBs uptake continues, with 208 operational, 51 under construction and 87 announced.i • Largest is 100MW/400MWh capacity – enough to power 100,000 homes for 4 hours. • VRFB Sector forecast to grow >900% by 2031.ii Source: Energy & Capital • Residential VRFB manufactures moving into production. No Degradation ASX:VKA vikingmines.com i) ii) Vanitec Guidehouse insights Low $/kWh over battery life Nonflammable Fully Recyclable Simple Capacity Expansion 6 Canegrass Battery Minerals Project Rapidly Advancing Project to Development • Consistently delivering on key milestones: ✓ Resource Drilling ✓ Substantial Increase in Global MREi ✓ POS demonstrates open pit potential ✓ Metallurgical testwork confirms potential of multicommodity value streams (V, Fe, Ti, Cu, Ni & Co) • Shallow dipping thick zones of mineralisation up to 30m delivers a low strip ratio project. • High-grade magnetite concentrate allows opportunity to investigate DSO >60% Fe concentrate. • Substantial value of the Project not appreciated in VKA Market Cap (EV of $6.2M). ASX:VKA vikingmines.com i) Global MRE Metal Content (>0.5% V2O5 cut-off) i V2O5 B Lbs Fe Mt TiO2 Mt 2.24 46.4 9.6 Cu T Ni T Co T 96,503 90,172 23,359 Viking Mines (ASX:VKA) ASX Announcement 20 November 2023 - VIKING DELIVERS >100% GROWTH AT CANEGRASS WITH 2.2 B LBS OF VANADIUM PENTOXIDE. Mineral Resource Estimate (MRE) is Inferred, refer to Appendix 2 for MRE Breakdown 7 Canegrass Pit Optimisation Study Pit Constrained MRE 61Mt @ 0.81% V2O5 & 35.9% Fe I (>0.7% V2O5 cut-off) • Pit Optimisation Study (‘POS’) highly successful, delivering large, high-grade, in–pit MRE. • Viking doubled strategic objective of >30Mt ii high-grade open pit Resource in Base-Case POS scenario. • Six POS scenarios to test sensitivity to revenue delivered a range of 31Mt to 92Mt in-pit Resources. • Results confirm robust nature of the Project. • Conceptual throughput of ~1.5Mtpa can provide ~20-60 year operationii (NB: This is not a production target). • Pits generated from three deposits (Fold Nose, Kinks and Kinks South). ASX:VKA vikingmines.com i) ii) Viking Mines (ASX:VKA) ASX Announcement 18 March 2024: VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V2O5 This is a strategic objective and not a production target and should not be relied upon as such by investors. Further evaluation work and appropriate studies are required to establish a production target. 8 Fold Nose High-Grade Open Pit Resource V2O5% Pit Constrained MRE 39Mt @ 0.81% V2O5 & 36% Fe i (>0.7% V2O5 cut-off) 0.5 – 0.8 0.8 – 1.0 >= 1.0 Fold Nose deposit delivers the largest open pit with: • Large open pit 1,300m x 600m x 180m • Low strip ratio at 3.7:1 • Conceptual mine life >20 years ii • Contains 0.7B Lbs. V2O5 & >20Mt Fe Concentrate at 58% grade iii • Additional 6.8Mt at 0.62% V2O5 & 28.6% Fe available in 0.5% to 0.7% V2O5 cut-off range • Priority target for follow up drilling to increase the MRE confidence to Indicated+ to commence June Q 2024. • Targeting ~3,500m RC Drilling for <A$0.5M (fully funded). • Substantial opportunities remain at Kinks & Kinks South deposits for further shallow high-grade MRE growth. ASX:VKA vikingmines.com i) ii) iii) Fold Nose in-pit MRE 39Mt at 0.81% V2O5, 36.0% Fe, 7.6% TiO2, 0.068% Cu, 0.070% Ni & 0.018% Co Viking Mines (ASX:VKA) ASX Announcement 18 March 2024: VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V 2O5 This is not a production target and is a strategic objective to define the size of the resource required Based on 53% mass pull derived from metallurgical testwork which delivered 59% Fe grade 9 Flow Sheet Optimisation Underway Opportunity to Improve Project Economics Mining Crush/grind Magnetic Separation Tail Concentrate Iron (Fe) Residue Roasting Sulphide Flotation Leaching & Purification Sulphide Concentrate Metallurgical Testwork on Fold Nose Ore Well Advanced: • • • • • • 86.7% V2O5 total recovery from ore feed. Low Intensity Magnetic Separation (LIMS) returned high-quality concentrate at 1.43% V2O5, 59% Fe & 11.7% TiO2. i 53% mass pull from ore to concentrate. Sighter roasting completed using conventional and proven salt roast methodology. Roasting achieves excellent V2O5 recoveries up to 93.2% from magnetic concentrate. ii Bulk roasting testwork underway to deliver final V2O5 flake product. V2O5 Flake Further Value Adding Metallurgical Testwork Planned: • • • Sulphide floatation on non-magnetic tail to produce sulphide concentrates for Cu, Ni & Co. Ilmenite (Titanium) separation from magnetic concentrate to improve Fe grade & produce saleable ilmenite product. Improved purification to deliver high-purity >99% V2O5 flake to attract premium pricing. ASX:VKA vikingmines.com i) ii) Magnetic Concentration Using LIMS Magnetic Concentrate Roasted Concentrate Viking Mines (ASX:VKA) ASX Announcement 6 March 2024: VKA ACHIEVES 1.43% V2O5 & 59% FE IN HIGH QUALITY CONCENTRATE Viking Mines (ASX:VKA) ASX Announcement 11 March 2024: VIKING ACHIEVES ROASTING SUCCESS AND 93.2% V2O5 RECOVERY Vanadium in Solution 10 Strategic Options to Release Value Produce Magnetic Concentrate Produce V2O5 Flake Low capital cost option Produce direct ship ore concentrate for supply to steel industry and seek credits for Vanadium content High capital cost option Develop full process and produce V2O5 flake for sale to market along with Iron Ore concentrate and Cu, Ni & Co credits Toll Treatment/Product Sale Toll treat or sale of magnetic concentrate from the Project to peers in the region who have developed full process plant infrastructure ASX:VKA vikingmines.com Multiple options available and to be investigated to deliver best return for shareholders Strategic Partnerships Partner with neighbours and utilise existing Windimurra Mine Infrastructure (which is on care and maintenance) to process Canegrass product 11 Murchison Region Vanadium Focussed Projects Regional Vanadium/Titanium Projects COMPANY VIKING MINES (ASX:VKA) AUSTRALIAN VANADIUM (ASX:AVL) VENUS METALS (ASX: VMC) SUREFIRE RESOURCES (ASX:SRN) PROJECT Canegrass Battery Minerals Project Australian Vanadium Project & TMT Murchison Project Youanmi Victory Bore & Unaly Hill MRE Global MRE (inferred): i 146Mt @ 0.70% V2O5 & 31.8% Fe containing POS MRE: ii 61Mt @ 0.81% V2O5 & 35.9% Fe M+Ind+Inf: iii 393Mt @ 0.76% V2O5 M+Ind+Inf: 135Mt @ 0.34% V2O5 M+Ind+Inf: 465Mt @ 0.30% V2O5 n/a 93Mt at 0.35% V2O5 Exploration Pre-Feasibility Study AVL: 30.9Mt @ 1.09% V2O5 ORE RESERVES: PROVED & PROBABLE n/a PROJECT STATUS Pit Optimisation Study (Advancing to Scoping Study) TMT: 44.48Mt @ 0.89% V 2O 5 BFS complete Canegrass Project Advancing to Scoping Study Stage ASX:VKA vikingmines.com i) ii) iii) Viking Mines (ASX:VKA) ASX Announcement 20 November 2023 - VIKING DELIVERS >100% GROWTH AT CANEGRASS WITH 2.2 B LBS OF VANADIUM PENTOXIDE. Viking Mines (ASX:VKA) ASX Announcement 18 March 2024: VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V2O5 This is a combined resource, refer to Appendix 1 for detailed Vanadium Projects table and sourcing information 12 First Hit Project Lithium & Gold Opportunity Substantial Land Package in Prolific Lithium/Gold Region • The First Hit Project landholding totals 493km2 (granted and under application)i in the WA Goldfields. • Located 60km south and along strike of Delta Lithium’s Mt Ida Gold and Lithium Project, which has delineated a significant lithium resource totalling 12.7Mt at 1.2% Li2O. ii • Tenements are adjacent to Ora Banda Mining, which has divested the Lithium rights into a JV with Wesfarmers Chemicals, Energy and Fertilisers for $26M. iii • Recently completed 1,220-hole auger programme defined multiple high-priority lithium anomalies up to 2km in length on the Ida Fault. ASX:VKA vikingmines.com i) ii) iii) Viking Mines (ASX:VKA) ASX Announcement 2 February 2024 - VIKING WINS BALLOT FOR LITHIUM TENURE - UPDATED Mt Ida MRE is Inferred and Indicated, refer to Delta Lithium (ASX:DLI) ASX Announcement 3 October 2023: Mt Ida Lithium Project Mineral Resource Estimate upgrade. Ora Banda Mining ASX release dated 30 October 2023 “Ora Banda Signs Transformational $26million Lithium Focused JV with Wesfarmers Chemicals, Energy and Fertilisers 13 First Hit Lithium Potential Eight High-Priority Lithium Targets Identified • Auger drilling defined nineteen lithium anomalies throughout the area, with eight immediate priority targets.i • Many anomalies are significant in size, with the three largest measuring 2.0km x 0.6km (Heimdall), 1.2km x 0.9km (Odin) and 1.0km x 0.5km (Thor). i • Peak Lithium assay values of 138ppm received, with 95 samples returning values >50ppm.i • Field mapping and further infill soil sampling and/or auger drill to be completed. • Follow up results with Air Core or Reverse Circulation drill programmed to bedrock test the anomalies. ASX:VKA vikingmines.com i) Viking Mines (ASX:VKA) ASX Announcement 19 February 2024: VIKING DEFINES LARGE LITHIUM ANOMALIES ON IDA FAULT 14 Delivering on Key Milestones & Fully Funded for Future Development Pathway Preliminary pit optimisation studies to completed delivering multiple large open pits on all deposits Stage 2 Metallurgical well advanced with bulk roasting underway to be used for leaching and purification. Additional testing to achieve multicommodity revenue streams. Activity Q1 CY24 Q2 CY24 Q3 CY24 Q4 CY24 Canegrass Battery Minerals Project Pit Optimisation Study Stage 2 Metallurgical Testwork Metallurgical Testwork Follow Up - Fe, Ti, Cu, Ni & Co Scoping Study Resource Infill Drilling (3,500m) Scoping Study to determine value opportunity and decision to move to next step of resource drilling & studies required to advance the Project. Port, transport and offtake discussions to commence regarding commercial structures/agreements & MOU’s. Mineral Resource Update Pit Optimisation Update Flora and Fauna Studies Port & Infrastructure Assessment Offtake Discussions First Hit Lithium and Gold Project Flora & fauna studies to develop required needed to move to more advanced study levels and ESG assessments. Mapping and Rock Chip Sampling Exploration Drill Program (Auger/AC/RC TBC) Timelines are indicative and subject to change based on results as the project progresses. ASX:VKA vikingmines.com 15 VKA Investment Summary Exposure To Critical Mineral Vanadium with Fe, Ti, Cu, Ni, & Co Upside + additional Li & Au Projects Consistently Delivering on Key Milestone with Fully Funded Extensive Work Programme ASX:VKA vikingmines.com Large MRE with demonstrated open pit potential, de-risking the project Undervalued Compared to Peers, VKA has Significant Upside Potential 16 For more information please contact: Julian Woodcock Managing Director & CEO P +61 8 6245 0870 Zander Beacham White Noise Communications E zander@whitenoisecomms.com Appendix 1 – Vanadium Company Snapshot COMPANY VIKING MINES (ASX:VKA) Canegrass PROJECT 146Mt @ 0.70% V2O5 MINERAL RESOURCES Inferred: 146Mt @ 0.70% V2O5 TOTAL: 146Mt @ 0.70% V2O5 (Source: VKA 20 November 2023) POS MRE: 61Mt @ 0.81% V2O5 & 35.9% Fe Murchison Technology Metals Project (Formerly ASX:TMT) 154Mt @ 0.8% V2O5 Measured: 12.1Mt @ 1.0% V2O5 Indicated: 51.2Mt @ 0.9% V2O5 Inferred: 90.5Mt @ 0.8% V2O5 TOTAL: 153.7Mt @ 0.8% V2O5 (Source: TMT 7 November 2022) PROJECT STATUS n/a Pit Optimisation Study (Advancing to Scoping Study) ASX:VKA vikingmines.com SUREFIRE RESOURCES (ASX:SRN) NEOMETALS (ASX:NMT) ATLANTIC PTY LTD (PRIVATE) Australian Vanadium Project Youanmi Victory Bore and Unaly Hill Barrambie Windimurra 239Mt @ 0.73% V2O5 135Mt @ 0.34% V2O5 321Mt @ 0.40% V2O5 64.9Mt at 0.82% V2O5 209.7Mt at 0.50% V2O5 Measured: 31.55Mt @ 0.33% V2O5 Indicated: 54.37Mt @ 0.33% V2O5 Inferred: 48.82Mt @ 0.36% V2O5 TOTAL: 134.73Mt @ 0.34% V2O5 Measured: 25.3Mt @ 0.35% V2O5 Indicated: 113.2Mt @ 0.32% V2O5 Inferred: 326.0Mt @ 0.28% V2O5 TOTAL: 464Mt @ 0.30% V2O5 Indicated: 49.0Mt @ 0.82% V2O5 Inferred: 15.9Mt @ 0.81% V2O5 TOTAL: 64.9Mt @ 0.82% V2O5 Measured: 34.6Mt at 0.49% V2O5 Indicated: 123.5Mt @ 0.50% V2O5 Inferred: 51.6Mt @ 0.50% V2O5 TOTAL: 209.7Mt @ 0.50% V2O5 Measured: 11.3Mt at 1.14% V2O5 Indicated: 82.4Mt at 0.70% V2O5 Inferred: 145.3Mt at 0.71% V2O5 TOTAL: 239Mt @ 0.73% V2O5 (Source: https://www.australianvanadiu m.com.au/our-assets/theaustralian-vanadium-project/ ) (Source: VKA 18 March 2024) ORE RESERVES VENUS METALS (ASX: VMC) AUSTRALIAN VANADIUM (ASX:AVL) Proved: 1.12Mt @ 0.95% V2O5 Probable: 43.36Mt @ 0.89% V2O5 TOTAL: 44.48Mt @ 0.89% (Source: https://www.tmtlimited.com.au/murchi son-technology-metals-project/mineralresources-ore-reserves/) Definitive Feasibility Study complete Proved: 10.5Mt @ 1.11% V2O5 Probable: 20.4Mt @ 1.07% V2O5 TOTAL: 30.9Mt @ 1.09% V2O5 (Source: VMC 20 March 2019) (Source: SRN 5 December 2023) (Source: NMT Annual Report 23 September 2022) n/a 93Mt at 0.35% V2O5 n/a Exploration Pre-Feasibility Study complete Pre-Feasibility Study complete (Source: https://www.australianvanadiu m.com.au/our-assets/theaustralian-vanadium-project/) Bankable Feasibility Study complete (Source: https://atlanticptyltd.com.au/projec ts/windimurra/geology-reservesresources ) Probable: 87.5Mt @ 0.49% V2O5 TOTAL: 87.5Mt @ 0.49% V2O5 (Source: (https://atlanticptyltd.com.au/proje cts/windimurra/geology-reservesresources) Definitive Feasibility Study complete 18 Appendix 2 – Canegrass Mineral Resource Estimate Global MRE i Cut-Off V2O5% Model Deposit From November 2023 Model Fold Nose Kinks South Kinks Combined To JORC (2012) Classification Volume Density Tonnes Tonnage (Mt) V2O5 % Fe % Fe2O3 % TiO2 % Cu % Ni % Co % Al2O3 % SiO2 % P % P2O5 % LOI % V2O5 T V2O5 BLbs Mt Fe Mt TiO2 Cu T Ni T Co T 0.00 0.50 Inferred 5,888,852 3.3 19,650,571 19.7 0.44 21.8 31.2 4.1 0.056 0.046 0.012 15.8 31.9 0.005 0.01 1.4 86,017 0.19 4.3 0.8 11,063 9,122 2,296 0.50 0.80 Inferred 16,751,576 3.6 60,641,026 60.6 0.65 30.3 43.3 6.2 0.057 0.059 0.015 13.1 23.2 0.004 0.01 1.8 396,405 0.87 18.4 3.8 34,427 35,965 8,989 3.9 14,468,533 14.5 0.87 37.5 53.6 8.0 0.070 0.071 0.018 9.9 16.5 0.004 0.01 1.3 125,508 0.28 5.4 1.2 10,102 10,343 2,675 75,109,560 75.1 0.69 31.7 45.3 6.5 0.059 0.062 0.016 12.5 21.9 0.004 0.01 1.7 521,913 1.15 23.8 4.9 44,530 46,308 11,664 0.80 Inferred 3,710,784 >0.5 Inferred 20,462,360 0.00 0.50 Inferred 2,115,784 3.7 7,800,150 7.8 0.42 21.2 30.3 4.4 0.044 0.041 0.011 18.0 31.4 0.007 0.02 3.7 32,893 0.07 1.7 0.3 3,417 3,214 835 0.50 0.80 Inferred 5,121,216 3.8 19,611,721 19.6 0.65 30.1 43.1 6.1 0.071 0.066 0.016 11.8 22.4 0.003 0.01 2.5 128,032 0.28 5.9 1.2 13,877 12,983 3,090 0.80 Inferred 2,460,284 3.9 9,573,436 9.6 0.88 36.8 52.7 8.0 0.076 0.071 0.019 8.6 16.3 0.003 0.01 1.7 84,614 0.19 3.5 0.8 7,285 6,814 1,783 >0.5 Inferred 7,581,500 29,185,158 29.2 0.73 32.3 46.2 6.7 0.073 0.068 0.017 10.7 20.4 0.003 0.01 2.3 212,647 0.47 9.4 2.0 21,162 19,797 4,873 0.00 0.50 Inferred 937,416 3.6 3,336,852 3.3 0.47 22.9 32.8 5.0 0.051 0.037 0.012 16.7 30.1 0.010 0.02 0.7 15,734 0.03 0.8 0.2 1,688 1,251 403 0.50 0.80 Inferred 10,182,016 3.7 38,032,009 38.0 0.66 31.2 44.7 6.4 0.074 0.057 0.016 11.3 22.8 0.009 0.02 1.3 251,368 0.55 11.9 2.4 28,057 21,671 6,148 0.80 Inferred 883,732 3.9 3,452,161 3.5 0.84 38.2 54.6 8.1 0.080 0.069 0.020 7.6 16.8 0.004 0.01 1.0 28,830 0.06 1.3 0.3 2,755 2,396 674 >0.5 Inferred 11,065,748 41,484,170 41.5 0.68 31.8 45.5 6.6 0.074 0.058 0.016 11.0 22.3 0.008 0.02 1.3 280,198 0.62 13.2 2.7 30,812 24,067 6,822 0.00 0.50 Inferred 8,942,052 3.4 30,787,573 30.8 0.44 21.8 31.1 4.3 0.053 0.044 0.011 16.4 31.6 0.006 0.01 1.9 134,643 0.30 6.7 1.3 16,168 13,586 3,534 0.50 0.80 Inferred 32,054,808 3.7 118,284,756 118.3 0.66 30.6 43.7 6.3 0.065 0.060 0.015 12.3 22.9 0.006 0.01 1.8 775,805 1.71 36.1 7.4 76,361 70,619 18,227 3.9 27,494,131 27.5 0.87 37.3 53.4 8.0 0.073 0.071 0.019 9.1 16.5 0.003 0.01 1.4 238,953 0.53 10.3 2.2 20,142 19,553 5,132 145,778,887 145.8 0.70 31.8 45.5 6.6 0.066 0.062 0.016 11.7 21.7 0.005 0.01 1.7 1,014,758 2.237 46.4 9.6 96,503 90,172 23,359 0.80 Inferred 7,054,800 >0.5 Inferred 39,109,608 Pit Optimisation Study ii Deposit Cut-off % V2O5 JORC (2012) Classification Tonnage (Mt) V2O5 % Fe % Cu % Ni % Co % TiO2 % Fold Nose 0.7 Inferred 39.0 0.81 36.0 0.068 0.070 0.018 7.6 Kinks 0.7 Inferred 15.9 0.77 35.5 0.080 0.080 0.018 7.4 Kinks South 0.7 Inferred 6.3 0.85 36.7 0.074 0.074 0.018 7.8 Total 0.7 Inferred 61.2 0.81 35.9 0.071 0.069 0.018 7.6 ASX:VKA vikingmines.com i) ii) Viking Mines (ASX:VKA) ASX Announcement 20 November 2023 - VIKING DELIVERS >100% GROWTH AT CANEGRASS WITH 2.2 B LBS OF VANADIUM PENTOXIDE Viking Mines (ASX:VKA) ASX Announcement 18 March 2024: VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V2O5 19