Approval of Sagay SDMP and change of broker

HIGHLIGHTS

• Philippine Mines and Geosciences Bureau issued a Certificate of Approval for the Sagay Project's Social Development and Management Program as part of the approval process for the Declaration of Mining Project Feasibility application.

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Celsius Resources Limited ("Celsius" or "CLA") (ASX,AIM: CLA) is pleased to announce the approval of the Five-Year Social Development and Management Program ("SDMP") of the Sagay Copper Project ("Sagay" or "the Project"), held under its Philippine subsidiary, Tambuli Mining Company, Inc ("TMCI") located at the Island of Negros in the Philippines.

The Philippine Mines and Geosciences Bureau (MGB) issued the Certificate of Approval, dated 18 June 2024 and which Celsius received late last week, attesting that the document has satisfactorily met the requirements, in form and substance, based on the guidelines of the Implementing Rules and Regulations of RA No. 7942, otherwise known as the Philippine Mining Act of 1995[1].

The SDMP was submitted to the MGB as one of the requirements under the Sagay Project's Declaration of Mining Project Feasibility (DMPF) application, along with other technical and environmental plans and programs.[2]

Celsius Resources Executive Chairman, Atty. Julito "Sarge" Sarmiento said:

"We are happy that the permitting process for the Sagay Project is progressing well. The issuance of the SDMP Certificate of approval underscores the national Government's strong support to the Project and the Philippine mining industry in general. This also reflects the alignment of our initiatives with national development goals and reinforces our dedication to sustainable and responsible mining practices"

"Through the SDMP, we remain committed to contributing positively to the communities we operate in and to upholding the highest standards of environmental and social governance."

The SDMP is a comprehensive five-year plan for the "sustained improvement in the living standards of the host and neighboring communities through programs, projects, and activities geared toward creating responsible, self-reliant, and resource-based communities and the development of science and mining technology"[3]. It was developed in consultation with the host community and the local Government unit in line with their local development plans and programs.

Creditable programs, projects and activities under the SDMP include:

• Human Resource Development and Institution-Building;
• Enterprise Development and Networking;
• Infrastructure Development and Support Services;
• Access to Education and Educational Support;
• Access to Health Services, Health Facilities and Health Professionals;
• Protection and Respect for Socio-Cultural Values;
• Information, Education, and Communications; and
• Development of Mining Technology and Geosciences.

The approved five-year SDMP budget is computed as 1.5% of the projected operating cost, as stated within the certificate of approval.

The implementation of the SDMP is the mining industry's response and socio-economic contribution to the United Nation's Sustainable Development Goals (SDGs)[4], a global call to action to end poverty and inequality, protect the planet, and improve health, education, and spur economic growth.

The Certificate of Approval shall be considered automatically revoked if the Project is suspended or stopped for more than two (2) years.

THE SAGAY COPPER-GOLD PROJECT

Location

The Sagay Copper Project is in the north-eastern part of Negros Island, within the cities of Sagay and Escalante in the Province of Negros Occidental, Philippines (Figure 1). Negros Island is part of the central group of Islands in the Philippines commonly referred to as "the Visayas".

Figure 1. Location of the Sagay Copper Project in the Island of Negros, Visayas, Philippines

Drilling at Sagay has broadly defined a large-scale copper mineralisation which is interpreted to be a typical porphyry copper style of mineralisation, common throughout the Philippine archipelago.

An updated Mineral Resource estimate (MRE) was announced on 6 February 2024 comprising of a combined measured, indicated, and inferred Mineral Resource of 312 million tonnes @ 0.39% copper and 0.11 g/t gold.

Listing Rule 5.19 and 5.23 Disclosure

The information is this announcement with respect to the MRE for the Sagay Project was announced by the Company to ASX on 6 February 2024. The Company confirms that it is not aware of any new information or data that materially affects the information included in the announcement dated 6 February 2024 and that all material assumptions and technical parameters underpinning the MRE continue to apply and have not materially changed.

Celsius Resources Contact Information

Level 5, 191 St. Georges Terrace

Perth WA 6000

PO Box 7059

Cloisters Square PO

Perth WA 6850

P: +61 2 8072 1400

W: www.celsiusresources.com

Celsius Resources Limited

[1] https://lawphil.net/statutes/repacts/ra1995/ra_7942_1995.html

[2] CLA Announcement "Celsius' Sagay Project applies for DMPF", dated 8 January 2024

[3] Department of Environment and Natural Resources Administrative Order No. 2000-99, "Rules and Regulations on the implementation of the SDMP for Mining Projects", December 21, 2000

[4] https://sdgs.un.org/goals