Project Number: 8

Deposit Number: 8

Location: Longonjo, Angola

Resource (*10^4 t, REO, Total): 447

Grade (wt. %): 1.43

La2O3: 23.93

Ce2O3: 45.86

Pr6O11: 4.94

Nd2O3: 17.16

Sm2O3: 2.48

Eu2O3: 0.58

Gd2O3: 1.23

Tb4O7: 0.13

Dy2O3: 0.6

Ho2O3: 0.09

Er2O3: 0.21

Tm2O3: 0.02

Yb2O3: 0.11

Lu2O3: 0.02

Y2O3: 2.63

HREE Percentage: 5.04

REE Pattern Reference: Preliminary Feasibility Study, 2019.11.15

Project and Status Reference: Pensana Rare Earths Plc, LSE Admission July 2020, https://pensana.co.uk/wp-content/uploads/2020/08/LSE_Admission_July2020.pdf；Commencing development of the world’s first Freeport rare earth processing hub

Deposit Type Reference: Pensana Rare Earths Plc, LSE Admission July 2020, https://pensana.co.uk/wp-content/uploads/2020/08/LSE_Admission_July2020.pdf

Resource and Grade Reference: Pensana Plc, interim results for the six months ended 31 December 2020, https://pensana.co.uk/wp-content/uploads/2021/04/Pensana-HYR-31-Dec-2020-Interims-for-release_FINAL.pdf