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[Ferro-Alloys.com] FIREBIRD GRANTED MINING LEASE FOR   OAKOVER MANGANESE PROJECT 

HIGHLIGHTS
• Firebird has been granted Mining Lease ML 52/1086 for the Oakover Manganese  Project 
• Receipt of the Mining Lease is conditional on the Company’s development of a mining  proposal, requiring approval from the Department of Energy, Mines, Industry  Regulation and Safety (DEMIRS)
• Environmental surveys and mining studies supporting the mining proposal are  progressing 
• The Mining Lease covers a large area of 3,429.8 ha, including the Sixty Sixer, Jay Eye  and Karen Pits, as well as proposed processing plant, tailings storage and waste dump
• Oakover is a large, near surface, gently dipping manganese project, with a Mineral  Resource Estimate (MRE) of 176.7 Mt at 9.9% Mn including an Indicated Resource of  105.8 Mt at 10.1% Mn1
• Oakover forms part of Firebird’s long-term vertical integration strategy to grow into a  low-cost manganese-based cathode material business, leveraging its world-class team, unique processes and technology and its own mineral resources 
• The successful development of Oakover will ultimately provide Firebird with a 100%  owned and secure feedstock supply for its manganese sulphate processing reinforcing  its strong and competitive position in the battery materials market. 

Firebird Managing Director, Mr Peter Allen, commented: “The granting of Mining Lease 52/1086
is a significant milestone for Firebird and the Oakover Project, marking an important step in our long term downstream processing and vertical integration strategy. 
“Oakover is a large and near-surface manganese project with robust economics and an 18-year Life-of- Mine. Our vision is to become a global leader in  the manganese industry by seamlessly integrating our  mining operations and innovative downstream processing solutions, to support the advancement of the Li-ion  and  Na-ion  battery  sectors.  The  location  of  our  proposed  manganese  sulphate  plant  in  China, places us at the forefront of this market and with the integration of Oakover will allow us to maintain  a  competitive  advantage  by  ensuring  a  100%  owned  and  secure  supply  of  high-quality  manganese feedstock. 

“Securing this lease brings us closer to that goal, providing a foundation for out stage  two,  low-cost manganese-based cathode material operations which is underpinned by the successful development of   Oakover.”

Australian-owned Firebird Metals Limited (ASX: FRB, Firebird or the Company) is pleased to  announce that it has been granted Mining Lease 52/1086 for the Company’s 100% owned Oakover Manganese Project, located 85km east of Newman.
The  granted  Mining  Lease  is  conditional  on  receiving  approval  from  the Department  of  Energy, Mines, Industry Regulation and Safety (DEMIRS) for a mining proposal. The Company’s long-term  strategy  is  to  grow into  low-cost  manganese-based  cathode  material business, leveraging its world-class team, unique processes and technology and its own mineral  resources.  The Oakover Project boasts a Mineral Resource Estimate1 of 176.7 Mt at 9.9% Mn, with 105.8 Mt at 10.1% Mn in an Indicated category. 
Through the execution of this strategy, Firebird aims to secure a natural cost advantage in LMFP cathode production, particularly by integrating manganese sulphate (MnSO?) from its proposed production plant in China. 

Oakover development programs will remain focussed on completing environmental surveys  and
reports as well as mining studies to feed into the mining proposal.

Firebird’s Battery Grade Manganese Sulphate Plant 
Firebird’s proposed manganese plant, located in  the premier  Jinshi  High-Tech  Industrial  Park,  is the cornerstone of the Company’s strategy to become a leading low-cost  producer  of  battery-grade cathode raw materials producer. 
All critical permits for the plant have been obtained in less than a year by Hunan Firebird Battery  Technology  Ltd,  and  from  FID,  the  plant  is  expected  to  be  built  in  less  than  12  months  –   underscoring  the  efficiency  and  competitive  advantage  provided  by  establishing  operations  in China. As outlined in the project Feasibility Study2, the plant boasts a very low CAPEX of US$83.5  million.
Firebird’s proposed plant will have a production capacity of 50kt MnSO4 plus 10kt Mn3O4, (72.5Kt  MnSO4  equivalent),  with low capital intensity and operational costs drawn from the Company’s  innovative processing methods.  Approximately 60% of the required financing has been secured  through indicative and non-binding agreements with key partners, including China Chemical and
China Construction Bank.
Firebird’s site in China is strategically located at the epicentre of electric vehicle manufacturing,   connected  to  an  efficient  industrial  supply  chain,  and  supportive  government  environment.  Executing  a  rapid  development  strategy  at  this  site  positions  Firebird  to  become  a  low-cost  producer of battery-grade MnSO4, supplying into the growing electric vehicle battery market. 

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• [Editor:tianyawei]