Castile Resources engagement with Northern Territory for MASDP

Castile Resources Limited (ASX: $CST) has engaged with the Northern Territory Land Development Corporation for a parcel of land at the $2 billion-dollar Middle Arm Sustainable Development Precinct (MASDP) in Darwin. The MASDP, a key driver of the Northern Territory Governments' goal for a $40B economy, will host Castile's purpose-built critical minerals processing and clean energy production hub.

Executive commentary on Middle Arm engagement

We are extremely pleased to be working with the Land Development Corporation and Northern Territory Government towards a Middle Arm site suitable to facilitate the downstream processing needs of our Rover 1 Project. This comes on the back of being awarded Major Project Status by the NT government and demonstrates our alignment with both the Federal and State Governments strategy of producing downstream critical minerals in the Northern Territory. We aim to develop a sustainable mining and processing operation that benefits all our stakeholders and shareholders and having our refining facility located at Middle Arm delivers on that strategy. It also provides further opportunity for Castile to process third party concentrates in Australia that would normally be shipped overseas to produce the end user critical minerals for the benefit of other countries. The development of the Rover 1 Project will provide significant opportunities in employment and economic prosperity for the entire Northern Territory.

Summary of Castile Resources engagement with Northern Territory

Castile Resources Limited (ASX: $CST) has engaged with the Northern Territory Land Development Corporation for a parcel of land at the $2 billion-dollar Middle Arm Sustainable Development Precinct (MASDP) in Darwin. The MASDP, a key driver of the Northern Territory Governments' goal for a $40B economy, will host Castile's purpose-built critical minerals processing and clean energy production hub. The move to the precinct would allow the back end 'refining' section of the Castiles' processing plant to be located at the MASDP, providing immediate benefits such as reducing the site footprint, capital infrastructure, and construction complexity. Castile also aims to enhance the production of critical minerals within Australia, utilizing and retaining sovereignty over Australia's precious resources within the region. The establishment of the refining facility at Middle Arm is expected to significantly reduce emissions and costs across the entire operation, while providing employment and economic prosperity for the entire Northern Territory.