Nova Project Scoping Study

Sirius Resources requested Como Engineers Pty Ltd to conduct a Scoping Study to estimate capital and operating costs for two 1.5Mtpa concentrator options. Option 1 was to produce separate Cu and Ni concentrates, Option 2 was to produce a single bulk Cu-Ni concentrate.

The Scoping Study was aimed at reviewing the metallurgical test work and derives design criteria to enable calculation of the capital and operating costs for both process options to an accuracy of +/- 30%.