Awarded Critical Minerals Grant

Tungsten Metals Group Ltd is pleased to announce the company has successfully been awarded a grant under the Federal Govt. initiative to invigorate Australian critical minerals projects, announced by the Hon Madeleine King, MP, Minister for Resources and Minister for Northern Australia, this morning.

The Grant amounting to $1.2m is to research and develop production of ferrotungsten powders for advanced manufacturing for aerospace, medical, energy and defence products amongst others including consumer products.

CEO, Mr. Martin McQuade commented “that the Company was delighted with the Grant, which would be match funded, as there are currently no metal powder producers for ferrotungsten in Australia.”

Executive Chairman, Tony Adcock, called the Grant “a massive boost to the critical minerals initiative in Australia. The Company is focused on developing further downstream ”value added products”. Mr Adcock thanked Martin McQuade for the massive amount of work in coordinating the TMG Ltd grant initiative.

Tungsten Metals Group Ltd is a West Australian headquartered Ferrotungsten producer with production facilities in Vietnam, looking to produce ferrotungsten powders in Australia. The Tungsten Metals Group Ltd is planning to list on the ASX in 2023.

Media Contact: Tony Adcock. Executive Chair

Mobile: +61 418 410 793

Email: ara@tungstenmetalsgroup.com