Overview of Summit Minerals Ltd's ASX announcement

Summit Minerals Ltd (ASX:SUM) has completed the bulk sampling program across its Equador Niobium, Tantalum, and Rare Earth Elements Projects in northeast Brazil. The company has collected 14 individual samples for metallurgical test work, aiming to fast-track the pathway to production.

Executive Commentary on Equador Project and Future Plans

With the addition of Equador North, the whole continues to grow beyond our initial expectations. We are focused on fast tracking this Project as much as possible within the constraints of local service providers and the legal mining framework specific to the region. The team is working as hard as possible to expedite our Project. We thank everyone for their continued support and patience.

Summary of ASX Announcement and Outlook

Summit Minerals Ltd has completed bulk sample collection and commenced metallurgical test work at the Equador Project, aiming to optimize the separation techniques for Niobium and Tantalum. The acquisition of the new mining lease at Equador North has expanded the prospectivity of the wider Equador Project, leading to revised drilling plans to capitalize on the new ground and high-grade results. The company is nearing finalization of the permitting process and continues exploration work to further investigate prospective mining sites. Summit Minerals is determined to unlock previously unrealized value in its Projects and is focused on systematically exploring and developing its projects to delineate multiple JORC-compliant resources.