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IPERIONX RECEIVES KEY PERMITS FOR DEVELOPMENT OF THE TITANIUM & RARE EARTH
MINERAL RICH TITAN PROJECT

 * IperionX has received key development permits for the Titan Project in
   Tennessee which is the largest JORC-compliant resource of titanium and rare
   earth rich mineral sands in the U.S.
   
   
 * Titan is one of the most advanced critical mineral projects in the U.S. which
   can re-shore a strong and sustainable domestic supply chain for titanium and
   rare earths critical for electrification and defense
   
   
 * The award of the permits significantly strengthens IperionX’s plans to
   re-shore a domestic titanium mineral to titanium metal supply chain that is
   infinitely recyclable, has low carbon intensity and is low cost
   
   
 * The award of the permits is a direct result of over two years of significant
   focus on community engagement, and education on the sustainable development
   of the Titan Project, resulting in strong community support
   
   
 * IperionX completed an Initial Assessment (Scoping Study) on the Titan Project
   in 2022 which highlighted the potential for compelling economics, including
   ~US$117 million of annual EBITDA, US$692 million after-tax NPV8 and 40%
   after-tax IRR
   
   
 * The Titan Project benefits from an outstanding jurisdiction in the U.S. which
   offers a leading combination of low energy costs, world class infrastructure,
   skilled workforce, low taxation rates, high levels of domestic demand and a
   wide range of U.S. government incentive and funding opportunities
   
   
 * IperionX is now progressing a range of U.S. government incentives and funding
   opportunities available for development while also engaging with a range of
   leading strategic partners who have shown high interest in offtake and
   funding of the Titan Project


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IperionX Receives Key Permits for Development of the Titanium & Rare Earth
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August 15, 2023 08:30 AM Eastern Daylight Time

CHARLOTTE, N.C.--(BUSINESS WIRE)--IperionX Limited (NASDAQ: IPX, ASX: IPX) is
pleased to announce that it has received key development permits for the Titan
Project in Tennessee. The Titan Project is the largest JORC-compliant resource
of titanium and rare earth rich mineral sands in the U.S. and represents a
cornerstone asset for IperionX’s plans to re-shore a strong and sustainable
domestic supply chain for titanium metal. The major development permits include
the National Pollutant Discharge Elimination System (NPDES) Permit and Surface
Mining Permit, which have now been issued by the Tennessee Department of
Environment & Conservation. Any residual regulatory requirements for the
development of the Titan Project are expected to be complete by the end of the
year.

The Titan Project is one of the most advanced critical mineral projects in the
U.S. that is fundamental to underpin the supply chain security of titanium and
rare earths needed for the defense, electric vehicle & renewable energy
industries. To meet the increasing demand for sustainable and lower cost
titanium metal, IperionX plans to re-shore a sustainable U.S. titanium mineral
to titanium metal supply chain, and close the loop of this supply chain by
recycling titanium metal.

The award of the permits is a direct result of over two years of significant
focus on community engagement, and education on the sustainable development of
the Titan Project, resulting in strong community support. IperionX’s
‘sustainability first’ approach to the Titan Project development and community
engagement commenced in January 2021 through the establishment of an office in
Camden, Tennessee served by seven full time employees, providing clear and
transparent communication channels regarding the Titan Project for community
stakeholders.

The Titan Project has the potential to be a key source of titanium and rare
earth minerals, reducing the acute reliance of mineral imports from foreign
nations and strengthening the supply chain with low carbon critical minerals
needed by U.S. industry. The Titan Project offers compelling economics, with the
2022 Initial Assessment (Scoping Study) highlighting a projected life-of-mine
annual EBITDA of ~US$117 million, after-tax NPV8 of US$692 million and an
after-tax IRR of 40%. Further, IperionX plans to assess the application of its
breakthrough titanium technologies to upgrade ilmenite at the Titan Project to
produce higher grade, low carbon, Green Rutile TM.

A summary of key metrics from the Initial Assessment (Scoping Study) can be
found in Appendix 1, with a link to the original release here.

IperionX has advanced a number of opportunities for Titan Project funding and
sales contracts, and continues to progress a range of U.S. government funding
and incentives opportunities that are available to re-shore critical material
supply chains – with the U.S. currently sourcing over 80% of titanium minerals
and almost 100% of its separated rare earth oxides from foreign countries. These
federal funding opportunities and incentives include the Defense Production Act
Title III program and a range of Department of Energy programs made possible by
the Inflation Reduction Act and Bipartisan Infrastructure Law designed to
support environmentally responsible production, reuse, and recycling of critical
minerals and materials in the United States.

Anastasios (Taso) Arima, IperionX CEO said:

“Successfully securing these key permits for the Titan Project – North America’s
largest deposit of titanium and rare earth critical minerals – is an important
milestone in our plan to re-shore critical material supply chains, with our key
focus on building a sustainable and low cost titanium mineral to metal supply
chain.

The IperionX team have done an outstanding job in progressing from mineral
discovery to the grant of key permits in just three years, and we appreciate the
significant support from our stakeholders in our Tennessee community with who we
are committed to developing a world class operation that can play a key role in
sustainably re-shoring American jobs and advanced industry.”

About IperionX

IperionX’s mission is to be the leading developer of low carbon titanium for
advanced industries including space, aerospace, electric vehicles and 3D
printing. IperionX holds an exclusive option to acquire breakthrough titanium
technologies that can produce titanium products that are low carbon and fully
circular. IperionX is producing titanium metal powders from titanium scrap at
its operational pilot facility in Utah, and intends to scale production at a
Titanium Demonstration Facility in Virginia. IperionX holds a 100% interest in
the Titan Project, which has the largest JORC-compliant resource of titanium,
rare earth and zircon rich minerals sands in the U.S.

Competent Persons Statement

The information in this announcement that relates to Production Targets, Process
Design, Mine Design, Cost Estimates and Financial Analysis is extracted from
IperionX’s ASX Announcement dated June 30, 2022 (“Original ASX Announcement”)
which is available to view at IperionX’s website at www.iperionx.com. IperionX
confirms that a) it is not aware of any new information or data that materially
affects the information included in the Original ASX Announcement; b) all
material assumptions included in the Original ASX Announcement continue to apply
and have not materially changed; and c) the form and context in which the
relevant Competent Persons’ findings are presented in this report have not been
materially changed from the Original ASX Announcement.

The information in this announcement that relates to Mineral Resources is
extracted from IperionX’s ASX Announcement dated October 6, 2021 (“Original ASX
Announcement”) which is available to view at IperionX’s website at
www.iperionx.com. IperionX confirms that a) it is not aware of any new
information or data that materially affects the information included in the
Original ASX Announcement; b) all material assumptions included in the Original
ASX Announcement continue to apply and have not materially changed; and c) the
form and context in which the relevant Competent Persons’ findings are presented
in this report have not been materially changed from the Original ASX
Announcement.

Forward Looking Statements

Information included in this release constitutes forward-looking statements.
Often, but not always, forward looking statements can generally be identified by
the use of forward-looking words such as “may”, “will”, “expect”, “intend”,
“plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar
words and may include, without limitation, statements regarding plans,
strategies and objectives of management, anticipated production or construction
commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks,
uncertainties and other factors that may cause the Company’s actual results,
performance, and achievements to differ materially from any future results,
performance, or achievements. Relevant factors may include, but are not limited
to, changes in commodity prices, foreign exchange fluctuations and general
economic conditions, increased costs and demand for production inputs, the
speculative nature of exploration and project development, including the risks
of obtaining necessary licenses and permits and diminishing quantities or grades
of reserves, the Company’s ability to comply with the relevant contractual terms
to access the technologies, commercially scale its closed-loop titanium
production processes, or protect its intellectual property rights, political and
social risks, changes to the regulatory framework within which the Company
operates or may in the future operate, environmental conditions including
extreme weather conditions, recruitment and retention of personnel, industrial
relations issues and litigation.

Forward looking statements are based on the Company and its management’s good
faith assumptions relating to the financial, market, regulatory and other
relevant environments that will exist and affect the Company’s business and
operations in the future. The Company does not give any assurance that the
assumptions on which forward looking statements are based will prove to be
correct, or that the Company’s business or operations will not be affected in
any material manner by these or other factors not foreseen or foreseeable by the
Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would
cause actual actions, events or results to differ materially from those
disclosed in forward looking statements, there may be other factors that could
cause actual results, performance, achievements, or events not to be as
anticipated, estimated or intended, and many events are beyond the reasonable
control of the Company. Accordingly, readers are cautioned not to place undue
reliance on forward looking statements. Forward looking statements in these
materials speak only at the date of issue. Subject to any continuing obligations
under applicable law or any relevant stock exchange listing rules, in providing
this information the Company does not undertake any obligation to publicly
update or revise any of the forward-looking statements or to advise of any
change in events, conditions or circumstances on which any such statement is
based.

Appendix 1 – Initial Assessment (Scoping Study) Key Economic Metrics

Measure

Unit

Value

NPV

US$M

692

IRR

%

40%

Total initial capital cost

US$M

237

NPV to capex cost ratio

-

2.9x

Annual average revenue

US$M/y

184

Annual average EBITDA

US$M/y

117

Payback from start of operations

years

1.9

 


CONTACTS

Anastasios (Taso) Arima, Founder and CEO
Toby Symonds, President
Dominic Allen, Chief Commercial Officer

Investors: investorrelations@iperionx.com
Media: media@iperionx.com
+1 980 237 8900
www.iperionx.com


IPERIONX LIMITED

NASDAQ:IPX


RELEASE SUMMARY

IPERIONX RECEIVES KEY PERMITS FOR DEVELOPMENT OF THE TITANIUM & RARE EARTH
MINERAL RICH TITAN PROJECT


#HASHTAGS

 * #tennessee
 * #zircon
 * #zerocarbon
 * #rareearths
 * #nasdaq
 * #additivemanufacturing
 * #3Dprinting
 * #sustainability
 * #titanium
 * #criticalminerals


$CASHTAGS

 * $IPX
 * $IPX.AX


SOCIAL MEDIA PROFILES

 * IperionX Twitter
 * IperionX LinkedIn
 * IperionX TikTok




MORE NEWS

 * April 15, 2024
   IperionX Partners With United Stars for U.S. Sourced Titanium Manufacturing
 * February 14, 2024
   IperionX Drives Towards Commercial Scale Titanium Metal Production
 * January 16, 2024
   IperionX Letter to Shareholders


CONTACTS

Anastasios (Taso) Arima, Founder and CEO
Toby Symonds, President
Dominic Allen, Chief Commercial Officer

Investors: investorrelations@iperionx.com
Media: media@iperionx.com
+1 980 237 8900
www.iperionx.com




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