Overview of Critical Minerals Group's announcement

Critical Minerals Group Limited (ASX: $CMG) has announced a substantial 96% increase in the Mineral Resource Estimate (MRE) for its flagship Lindfield Project, now standing at 713 Mt. The increase includes the addition of molybdenum to the resource, marking a significant milestone for the company's development efforts.

Executive commentary on the upgraded MRE

It's a credit to the technical team and the partners we work with in the development of the Lindfield Project, that we have been able to announce a significant upgrade to the Lindfield Project Mineral Resource Estimate. Not only have we been able to increase the mineralised material estimate of vanadium and associated high purity alumina (HPA) but we have now added molybdenum to the resource estimate. The upgrade to 713 Mt marks a 96% increase and is largely as a result of the inclusion of the TLBA mineralisation of the resource that sits at or near surface. This upgrade in the resource has flowed from the drilling performed in Q3 2023, the finalisation of the scoping study on the Lindfield Project and the ongoing metallurgical test work that has been performed. The metallurgical test work highlighted the superior performance of the TLBA mineralisation in upgrading its concentration through the flotation. The test work and modelling also highlighted the buildup of molybdenum in the circuit to economic levels. With these inclusions, the overall planning, development and economics will be worked on further in the next phase of the feasibility studies. The improvements to be added will include lower waste removal volumes, lower strip ratio, increased mineralised material, increased mine life potential and the potential for an additional revenue source through the production of molybdenum. With the reduction in overall waste this also brings an environmental benefit to the project with less waste dump requirements, less overall disturbance impact, and potentially lower rehabilitation costs. We look forward to working these into the next phase of the feasibility study and continuing to investigate further opportunities as a result.

Summary of the announcement and outlook

The announcement by Critical Minerals Group Limited (ASX: $CMG) regarding the significant increase in the Lindfield Project's Mineral Resource Estimate (MRE) to 713 Mt, along with the addition of molybdenum, reflects the company's commitment to the development of its flagship project. The upgrade is a result of the drilling program completed in Q3 2023 and ongoing metallurgical test work, demonstrating the company's dedication to enhancing the project's potential. The increased resource size and the inclusion of molybdenum offer the potential for improved project economics, lower environmental impact, and additional revenue sources. This development strengthens the Lindfield Project's positioning for the feasibility studies underway and sets the stage for further drilling to progress future MRE assessments. The company's focus on refining the HPA process and the potential value addition from molybdenum production underscores its strategic approach to maximizing the project's long-term potential.