Strike Resources Limited provided the following updates in relation to its Apurimac Iron Ore Project in Peru (Apurimac Project). Strike continues to advance production of high-grade Direct Shipping Iron Ore (DSO) from its 100% owned Apurimac Project in Peru, with haulage now underway of its Apurimac Premium Lump DSO to a stockpile area located close to the Port of Pisco, from where the ore is planned to be shipped to customers in China. Strike remains on-track to export its first shipment of Apurimac Premium Lump (target grade of 65% Fe with low impurities) in July 2021, with an estimated FOB cost of approximately USD 70 - 80 per tonne. The Apurimac Premium Lump is expected to achieve a premium price compared to the current benchmark price for 62% Fe iron ore of approximately USD 215 per tonne. Approximately 50,000 tonnes of high-grade DSO has now been mined and is being crushed at two local crushing plants located close to the Apurimac Project and one new crushing plant located close to the Port of Pisco. Strike is targeting annualised sales in the near term of 250,000 tonnes from the Apurimac Project. Strike continues to advance securing additional crushing and transport capacity to meet this annualised target. Given the current strong demand and premium prices for high grade Lump Iron Ore there is a clear opportunity for Strike to generate significant near-term cashflows from this operation. Ausenco is finalising their review of the 2008 and 2010 studies, which includes gap and trade-off analyses and an identification of opportunities to reduce project capex and increase project execution security. Strike will then work with Ausenco to finalise the scope for the next stage of works to examine in more detail the capital and operating costs associated with a 15 - 20 million tonne per annum production profile of a 68% Fe concentrate using a slurry pipeline for the transport of such ore to the coast for export.