Impact Minerals (ASX: IPT) is developing the Lake Hope high-purity alumina project in Western Australia, targeting low-cost 4N HPA production through proprietary low-temperature leach technology. It also holds 50% of Alluminous, providing a second HPA commercialisation pathway, alongside gold, silver and base-metals exploration assets.

• 1 for 4 renounceable rights issue at 3.2c per share to raise up to $4.1 million.

• 22% discount to the last price of 4.1c and 26% discount to the 90-day VWAP of 4.3c.

• 2 free options for every 3 new shares (exercise price 6c, term 2.5 years) to be listed on the ASX.

• The calculated Black & Scholes valuation of new option is 1.1c at the issue price (3.2c, 80%).

• As new options attach on a 2 for 3 basis, the net effective entry price is closer to 2.5c (3.2c – 2/3x1.1c).

• Net proceeds used for exploration, advance Lake Hope HPA project, Alluminous and working capital.

Impact Minerals Limited (ASX: IPT) is an Australian critical-minerals developer advancing its flagship Lake Hope High Purity Alumina (HPA) Project in Western Australia. The project has a completed Pre-Feasibility Study based on 10,000 tonnes per annum of 99.99% (4N) HPA, underpinned by a shallow, long-life ore reserve and patented low-temperature leach processing technology designed to reduce operating costs and emissions.

Impact also owns 50% of Alluminous, which is progressing its modular HiPurA HPA process through customer qualification. The Company retains exploration exposure to gold, silver, copper, lead and zinc through its Commonwealth and Broken Hill projects.

• Located within a proven, highly prospective mineral district hosting major operations owned by Newmont, Evolution and Alkane, including Alkane’s 8.5Moz gold and 1.5Mt copper deposit, with strong prospectivity for gold, silver and zinc.
• The project hosts a previously reported JORC Mineral Resource containing 89koz of gold and 3.3Moz of silver, together with zinc and lead mineralisation, which remains open at depth and along strike.
• Phase 1 drilling returned exceptional high-grade results, including 0.5m at 20,603g/t silver and 27g/t gold, announced on 5 May 2026.
• Phase 2 drilling is underway, focused on extending known mineralisation and supporting a Mineral Resource Estimate upgrade targeted before the end of 2026.

1. A globally significant high-purity alumina resource with the potential to support low-cost, long-life production.
2. A differentiated, low-temperature processing route designed to deliver lower operating costs and materially lower carbon emissions than conventional HPA production methods.
3. A second, independent pathway to commercialisation through Impact’s 50% interest in Alluminous and its proprietary HiPurA processing technology.
4. Exposure to a large and rapidly expanding HPA market, where forecast demand growth is expected to outpace available 4N supply.
5. A defined and progressively de-risked route to production, supported by completed studies, pilot-scale operations and government co-funding