HIGHLIGHTS

-          Assays received for 44 of 47 reverse circulation (RC) drill holes for the new discovery at the Springdale Central exploration target – located immediately adjacent to the existing Springdale Graphite Project JORC mineral resource.

-          Standout results[i] include:

• 12m @ 11.6% TGC from 51m downhole including 3m @ 25.6% from 53m downhole (SGRC0141).
• 8m @ 11.4% TGC from 57m downhole including 3m @ 22.0% from 60m downhole (SGRC0143).
• 10m @ 20.9% TGC from 48m downhole including 7m @ 23.9% TGC from 49m downhole (SGRC0162).
• 13m @ 12.5% TGC from 61m downhole including 5m @ 24.22% TGC from 66m downhole (SGRC0164).
• 6m @ 15.6% TGC from 46m downhole including 3m @ 24.8% TGC from 47m downhole (SGRC0170).
• 12m @ 22.6% TGC from 59m downhole including 10m @ 24.6% TGC from 59m downhole (SGRC0170).
• 6m @ 14.4% TGC from 68m downhole including 3m @ 19.8% TGC from 69m downhole (SGRC0180).
• 18m @ 12.2% TGC from 81m downhole including 3m @ 20.8% TGC from 82m downhole (SGRC0180).
• 13m @ 10.8% TGC from 49m downhole including 3m @ 25.8% TGC from 52m downhole (SGRC0186).
• 11m @ 14.0% TGC from 69m downhole including 3m @ 21.1% from 70m and 1m @ 20.9% TGC from 77m downhole (SGRC0190).

-          ~3,700 metres of RC drilling at an average depth of ~84 metres.

-          Springdale Central was the second discovery made during the 2022-2023 drilling campaign.

-          Springdale Central zone is open in all directions.

12 July 2023 - Further high grade assays have been received from drilling at International Graphite Limited’s (ASX: IG6) Springdale Central new discovery at the Company’s 100% owned Springdale Graphite Project, in Western Australia.

Managing Director and CEO Andrew Worland said Springdale was developing as an important deposit to support Australia’s evolving battery minerals industry.

“It is fantastic that such a significant new find has been identified immediately adjacent to the existing Springdale mineral resource,” Mr Worland said.

“This latest evidence adds to the impressive results we have already seen from Mason Bay, just east of the existing mineral resource, which was another new discovery from this drilling program.

“Over 10,000m of drilling has been completed at Central and Mason Bay alone and covers an area that is approximately half the size of the area of the existing Springdale JORC mineral resource. Extensive areas of additional exploration targets remain untested at Mason Bay and elsewhere within the Springdale tenements and are earmarked for future exploration activities.

“Our successful exploration program in the past year is demonstrating Springdale is presenting the potential to host a deposit of industry significance. This is a key link in our strategy to build Western Australia’s first mine-to-market supply of battery anode graphite.”

Drill collar data from drilling with assay results is shown below in Table 1 with significant intercepts shown in Table 2. Cross sections 3-5 show graphite mineralisation from the areas highlighted in Figure 2.

Figure 1: Location of International Graphite projects

Figure 2: Airborne electromagnetic survey (AEM) image showing conductive material in relation to resource areas and new targets at the Springdale Graphite Project.

Figure 3: Cross-section 1 showing the multiple graphite zones intersected.

Figure 4: Cross-section 2 showing the multiple graphite zones intersected.

Figure 5: Cross-section 3 showing the multiple graphite zones intersected.

Table 1: Drill Collar Data for this release at Central area (GDA94 MGAz51)

Table 2: Significant Graphite Intervals

Note: Intercepts widths are downhole, calculated with a minimum of 1 metre of internal waste using a 1% TGC cut-off. Including intercepts widths are downhole, calculated with a minimum of 1 metre of internal waste using a 20% TGC cut-off.

Table 3: Springdale Graphite Existing Mineral Resource Estimate Summary (JORC 2012)

This announcement has been authorised for release by the Board of International Graphite Limited.

Andrew Worland

Managing Director CEO

Competent Persons Statement

The information in this announcement which relates to exploration targets, exploration results or mineral resources is based on information compiled by Mr. Darren Sparks. Mr. Sparks is the Principal Consultant and fulltime employee of OMNI GeoX Pty Ltd. He is a member of the Australian Institute of Geoscientists (“AIG”). Mr. Sparks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr. Sparks consents to the inclusion of the information in this announcement in the form and context in which it appears.

The Competent Person confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

About International Graphite

International Graphite is an emerging supplier of processed graphite products, including battery anode material, for the global electric vehicle and renewable energy markets. The Company is developing a sovereign Australian ‘mine to market’ capability, with integrated operations wholly located in Western Australia. The Company intends to build on Australia’s reputation for technical excellence and outstanding ESG performance with future mining and graphite concentrate production from its 100% owned Springdale Graphite Project and commercial scale downstream processing at Collie. International Graphite is listed on the Australian Securities Exchange (ASX: IG6) and Tradegate and Frankfurt Stock Exchange (FWB: H99, WKN: A3DJY5) and is a member of the European Battery Alliance (EBA250) and European Raw Minerals Alliance (ERMA).

For more information please contact:

Robert Hodby

CFO/Company Secretary

[email protected]

+61 407 770 183

Marie Howarth

Media and Communication

[email protected]

+61 412 111 962

Link to the original news:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02685818-6A1158004?access_token=83ff96335c2d45a094df02a206a39ff4

[i] All metres are rounded to the nearest metre. TGC% is rounded to 1 decimal point.