Ardea's Managing Director, Andrew Penkethman, said: 'Ardea's Kalgoorlie Nickel Project is one of the largest nickel-cobalt resources in the world.

In response to the growing demand for sustainably and ethically sourced minerals to assist with the transition to a low carbon future, the Goongarrie Hub project scale has been increased to 3.5Mtpa, utilising well understood and proven technology. To build upon the successful feasibility study work completed in the past, the flow sheet has been enhanced to maximise resource utilisation and minimise carbon emissions with the addition of an Atmospheric Leach circuit. This will increase the sulphuric acid requirement and require a larger sulphur burning acid plant, with consequent increase in steam generation which facilitates the off-grid, carbon free, site energy balance. The independent assessment by consultants Wood of the work completed to date by the Ardea team and service providers is supportive of the base case being carried forward to complete the DFS. Results from in progress metallurgical testwork will be used to refine the flow sheet and production mine plan, with additional results to be reported as they become available.

Gap Analysis Study (GAS) by international metallurgical consultant, Wood Engineers, on Ardea's Goongarrie Hub nickel-cobalt project completed and supports Ardea's increased project scale of 3.5Mtpa for the Definitive Feasibility Study (DFS).

Feed grade is 1% Ni and 0.07% Co, reflecting the 0.8% Ni cut-off resource grade (ASX release 16 June 2021).

Testwork commenced at the ALS metallurgical laboratory in Perth to confirm the improved flow-sheet with two High Pressure Acid leach (HPAL) autoclaves with each rated at 1.5Mtpa, as well as an Atmospheric Leach (AL) circuit of 0.5Mtpa.

Independent logistics study confirms autoclave transport route through the Port of Esperance and via road to the Goongarrie plant site.

Two groundwater extraction licences (GWL) have been applied for with the WA Department of Water and Environmental Regulation (DWER) to secure this water from tenements already held by Ardea, near the planned Goongarrie Hub processing plant.

Accelerated engagement advances with key stake holders, such as the City of Kalgoorlie-Boulder (CKB) and Southern Ports Esperance with a cooperation Memorandum of Understanding (MoU) executed with the CKB.

The Kalgoorlie Nickel Project (KNP) Goongarrie Hub (Goongarrie) is undergoing a Feasibility Study for a High Pressure Acid Leach (HPAL) and Atmospheric Leach (AL) processing operation using proven technology successfully in use at other operations, such as at Coral Bay in the Philippines and the Ravensthorpe Nickel Operation in Western Australia. The base case end product from Goongarrie will be Mixed Hydroxide Precipitate (MHP) which is the preferred nickel-cobalt product for the Lithium Ion Battery (LIB) sector.

Contact:

Andrew Penkethman

Tel: +61 8 6244 5136

About Ardea Resources

Ardea Resources (ASX: ARL) is an ASX-listed resources company, with a large portfolio of 100%-controlled West Australian-based projects, focussed on: Development of the Kalgoorlie Nickel Project (KNP) and its sub-set the Goongarrie Hub, a globally significant series of nickel-cobalt and Critical Mineral deposits which host the largest nickel-cobalt resource in the developed world at 830Mt at 0.71% nickel and 0.046% cobalt for 5.9Mt of contained nickel and 380kt of contained cobalt (ARL ASX announcement 15 February, 16 June 2021) located in a jurisdiction with exemplary ESG credentials.

Advanced-stage exploration at compelling nickel sulphide and Critical Minerals targets within the KNP Eastern Goldfields world-class nickel-gold province, with all exploration targets complementing the KNP nickel development strategy

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