INVESTMENT HIGHLIGHTS

• Transformational asset integration & strategic scale: IperionX has successfully completed the acquisition of the Camden critical mineral, heavy rare earths, and infrastructure assets. Highly synergistic with the adjacent Titan Project in Tennessee, this acquisition materially consolidates and expands IperionX’s landholding across the Big Sandy Critical Minerals Province.
• Ultra-high-grade surface stockpiles: Decades of historical high-purity silica sand operations have effectively pre-processed the heavy critical mineral fractions. This has generated approximately 70 acres of at-surface, ultra-high-grade critical mineral stockpiles, uniquely enriched in titanium, zircon, and high-value rare earth minerals.
• Exceptional stockpile assay results (up to 10x uplift): Grab samples from the surface stockpiles returned outstanding Total Heavy Minerals (THM) grading up to 21.5%. Previous 1-ton bulk samples yielded 9.9% and 23.0% THM — an exceptional 5x to 10x uplift compared to Titan's average Mineral Resource grade.
• Accelerated 'stockpile-first' pathway: Accessing at-surface, pre-processed critical minerals provides vital ‘starter feedstocks’ with the potential to reduce capital intensity and lower mining and processing costs.
• Large-scale, pre-stripped Lower McNairy advantage: Historical silica operations at Camden successfully "pre-stripped" approximately 180 acres of overburden, providing rapid, near zero-strip-ratio access to the Lower McNairy mineralization — historically proven by drilling at Titan to hold the highest grade and richest assemblage of high-value heavy rare earth, titanium and zircon minerals.
• Turnkey infrastructure potentially reduces CAPEX: The acquired site provides an established industrial footprint with active grid power, water, natural gas utilities, and heavy-haul rail access. This provides the potential to significantly de-risk development timelines and reduce capital expenditure that is currently included in Titan DFS capital cost build up.
• Heavy rare earths upside: Mineralization in the McNairy formation has been proven to be rich in monazite and xenotime - heavy rare earth containing critical minerals typically rich in dysprosium (Dy), terbium (Tb), and yttrium (Y) – which are vital for advanced U.S. industries.
• Minerals-to-metals integration: Camden-Titan is a potential near-term supply of upstream American-sourced critical minerals, while IperionX's downstream mineral and titanium technologies and Virginia titanium manufacturing platform provide the pathway to finished U.S. titanium metal products.
• Strategic funding engagement: IperionX will engage U.S. government stakeholders, downstream processors, and strategic customers as further technical and economic data becomes available.
• 2026 Camden-Titan techno-economic roadmap: IperionX is now advancing an accelerated work program prioritizing sonic drilling of stockpiles, advanced metallurgical test work, infrastructure optimization, with an integrated Camden-Titan techno-economic study targeted by the end of 2026.

IperionX CEO Taso Arima said:

“The strategic importance of Camden is now clear, it gives IperionX a turnkey platform adjacent to Titan with mineral rights, ultra-high-grade stockpiles, established infrastructure and the potential to accelerate U.S.-sourced rare earth and critical mineral feedstock supply.

The most powerful feature of Camden is that the opportunity starts at surface with exceptional grades. These stockpiles have already been mined, moved and pre-processed through historical silica sand operations, creating ultra-high-grade starter feedstocks containing titanium, zircon and rare-earth-bearing minerals such as monazite and xenotime.

Camden also adds ready-access to approximately 180 acres of pre-stripped Lower McNairy mineralized areas, which could further enhance development scalability of the Camden-Titan platform. This gives IperionX the potential opportunity for a faster, lower-capital-intensity and lower opex development pathway.

The United States is investing across rare earth processing, metallization, alloying and magnet manufacturing. But downstream capacity requires secure upstream mineral feed. Camden-Titan is now positioned as a unique upstream opportunity for strategically vital titanium, zircon and rare-earth-bearing mineral products, sourced securely from the United States.

Camden does not replace Titan, it strengthens it. Together, Camden and Titan have the potential to accelerate long-term domestic supply of titanium, zircon and heavy rare earth feedstocks, crucially - dysprosium, terbium and yttrium - into markets that are central to national security, advanced manufacturing, electrification, aerospace and high-performance magnet technologies.”

SOUTH BOSTON, Va., July 02, 2026 (GLOBE NEWSWIRE) -- IperionX Limited (NASDAQ: IPX, ASX: IPX) is pleased to announce the successful completion of the Camden critical mineral, property, and infrastructure assets acquisition, located adjacent to the Titan Critical Minerals Project and within the Big Sandy Critical Minerals Province in Tennessee.

Increased Scale + Accelerated Commercialization

The Camden acquisition combines four value-drivers that are rarely available together in a U.S. critical minerals development project:

• Scale: Adjacent mineral sands position increases the scale of the combined Camden-Titan project.
• Ultra-high-grade stockpiles: Pre-mined, pre-processed critical mineral stockpiles of approximately 70 acres at surface.
• Pre-stripped mineralization: approximately 180 acres of near-zero-overburden access to the rich Lower McNairy seam.
• Established, turnkey infrastructure: Ready-to-use industrial assets, utilities and rail infrastructure.

Camden’s historical silica sand operations created this opportunity. For decades, the operation was optimized to produce high-purity silica. The commercial processing circuits were not designed to recover titanium, zircon or rare-earth-bearing minerals; instead, those heavier mineral fractions were separated from the silica product stream and accumulated in surface stockpiles.

IperionX has now secured those stockpiles, along with the surrounding mineral rights, pre-stripped Lower McNairy areas and established industrial infrastructure. This converts a historical processing blind spot into a potential strategic catalyst: at-surface critical-mineral-bearing stockpiles that may be evaluated as an early high-grade starter feed for the district-scale Camden-Titan critical minerals platform.

The strategic opportunity is clear: Titan brings district-scale mineralization; Camden brings high-grade surface stockpiles, established infrastructure and a potential ultra-high-grade stockpile-first development pathway.

Unlocking Camden’s Ultra-High-Grade Surface Stockpiles

Two 1-ton bulk samples were collected from these pre-processed surface stockpiles in 2020 which returned exceptional grades of 9.9% and 23.0% THM, with historical drilling indicating depths of approximately 12 meters of mineral stockpiles prior to intersecting the Lower McNairy formation. Subsequent exploration grab sampling in 2025 consistently returned ultra-high-grades of ~20% THM. When compared to the Titan Project’s Resource Estimate of 431 Mt at 2.2% THM, this material represents an outstanding 5x to 10x grade uplift.

Figure 1: Illustrative example of the potential benefits attributable to high grade feedstocks in mineral extraction and processing operations.

In practical terms, higher-grade feedstock can potentially mean less material needs to be moved and processed to produce a given amount of heavy mineral concentrate. That can be important for plant size, capital intensity, operating cost and speed to first product, subject to resource definition, metallurgical recoveries, product quality and customer qualification.

This grade advantage also has a very significant impact for the in-situ proportion of the heavy rare earth bearing minerals monazite and xenotime, which are often found in very low concentrations in mineral sand deposits. The pre-concentrating and stockpiling of these minerals through historic silica operations provides the potential for rare earth values in excess of those found in commercial operations in developments around the globe. As an example, the grab samples grading at 19% or greater have an average in-situ monazite + xenotime value of approximately 1,100 ppm (along with average in-situ grades of rutile and zircon of 2.1% and 1.1% respectively).

IperionX will accelerate a drilling campaign at Camden to quantify the stockpiled material with the intent of delivering a mineral resource estimate for this material class.

Camden Pre-Stripped Advantage: Ready-access to high-grade Lower McNairy mineralization

Historical mining at Camden effectively removed the overburden ("pre-stripped") across approximately 180 acres, directly exposing the Lower McNairy high-grade mineralized formation – known to be rich in heavy minerals, including rare earths. At the Titan Project this seam makes up about 70% of the minerals contained within the total mineral resource estimate, with grades of rutile, ilmenite and zircon approximately 2x the concentration of the Upper McNairy, and grades of rare earths approximately 10x the concentration of the Upper McNairy.

The significant amount of pre-stripping allows the potential for rapid mining development of the Lower McNairy formation without incurring significant cost of pre-stripping the overburden as well as hauling and sorting the related material.

IperionX intends to initiate a drill campaign at Camden in the coming months to quantify the material that has been pre-stripped, with the intent of delivering a mineral resource estimate for this material class.

Figure 2: Mining development areas at Camden (upper LHS) highlighting the extensive pre-stripped exposed Lower McNairy formation aligned with the regional stratigraphic column (RHS).

Figure 3: Camden acquisition in relation to the Titan Critical Minerals Project.

Turnkey Infrastructure: De-risking Capex and Timelines

The existing Camden infrastructure is highly strategic as it is an established industrial minerals processing hub with active high-voltage power, industrial-scale water, natural gas, and heavy-haul rail infrastructure. The potential to integrate Titan's planned mineral processing into Camden's existing infrastructure footprint provides an opportunity to reduce execution risk and capital requirements that are currently included in Titan DFS capital cost build up.

Camden-Titan: The upstream heavy rare earth feedstock platform the U.S. supply chain needs

The United States is rapidly rebuilding its rare-earth-to-magnet supply chain, with growing investment in refining, separation, metallization, alloying and magnet production. Yet one of the most important vulnerabilities remains upstream: secure domestic heavy rare earth-bearing mineral feedstock.

This is particularly important for dysprosium, terbium and yttrium — heavy rare earths that are vital for high-performance NdFeB magnets used in defense, aerospace, electric vehicles, drones, robotics and high-temperature advanced technology applications. Without reliable, uninterruptible heavy rare earth-bearing feedstocks, downstream processing and magnet capacity remains exposed to the same strategic supply-chain risk the United States is working to eliminate.

Camden-Titan is positioned to help address this upstream vulnerability by evaluating a domestic mineral sands platform that uniquely combines:

• The large-scale Titan Project with rare earth and critical minerals
• Ultra-high-grade Camden surface stockpiles
• Existing turnkey infrastructure
• Large-scale, pre-stripped, higher-grade Lower McNairy seam access
• Secure, strategically positioned location in Tennessee, USA
  
  

Subject to resource definition, metallurgical qualification and development studies, Camden-Titan has the potential to become a strategically important U.S.-origin feedstock platform for titanium, zircon and rare-earth-bearing mineral products. Camden-Titan has the potential to underpin the long-term upstream feedstock foundation needed to support the U.S. buildout of rare earth refining, metal, alloy and magnet capacity.

Figure 4: U.S. rare earths supply chain components and associated U.S. Government funding¹.

Next steps and development catalysts

IperionX is now advancing a series of techno-economic activities to define the integrated Camden-Titan commercial development pathway. Key 2026 milestones include:

• Resource Definition: Sonic drilling of the 70-acre surface stockpiles and 180-acre pre-stripped zones to establish a formal JORC/S-K 1300 compliant Mineral Resource Estimate.
• Metallurgy: Detailed assemblage analysis to optimize recoveries of titanium, zircon, monazite, and xenotime.
• Commercial Engagement: Fast-tracked commercial qualification with downstream processors, strategic customers, and U.S. Government stakeholders.
• Integrated Economic Studies: Delivery of an integrated economic assessment for the development of the Camden-Titan complex.

This announcement has been authorized for release by the CEO and Managing Director.

For further information and enquiries please contact:

info@iperionx.com
+1 980 237 8900

About IperionX

IperionX is a leading American titanium metal and critical materials company – using patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost and carbon emissions.

Our Titan critical minerals project is the largest JORC-compliant mineral resource of titanium, rare earth and zircon mineral sands in the United States.

IperionX’s titanium metal and critical minerals are essential for advanced U.S. industries including space, aerospace, defense, consumer electronics, fasteners, automotive and additive manufacturing.

Forward Looking Statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any forecast future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of mineralization, the Company’s ability to comply with the relevant contractual terms to access the technologies, commercially scale its closed-loop titanium production processes, or protect its intellectual property rights, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled and/or reviewed by Mr. Adam Karst, P.G., a Competent Person who is a Registered Member of the Society of Mining, Metallurgy and Exploration (SME) which is a Recognized Professional Organization (RPO). Mr. Karst is an employee of Karst Geo Solutions, LLC. Mr. Karst has sufficient experience which is relevant to the style and type of mineralization present at the Titan Project and Camden areas and to the activity that 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 2012 JORC Code). Mr. Karst consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Compliance Statement

This announcement contains information relating to a Mineral Resource Estimate and an Ore Reserve Estimate for the Titan deposit (where the Mineral Resource Estimate was prepared by Mr. John Eckman, a Competent Person, and the Ore Reserve Estimate was prepared by Mr. Justin Douthat, also a Competent Person) extracted from an ASX market announcement titled “IperionX Titan DFS Confirms High-Return U.S. Rare Earths and Critical Minerals Project” and published on the ASX platform (www.asx.com.au) on 4 June 2026. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the release of 4 June 2026 continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcement.

The full release can be found here.

Contacts

Anastasios (Taso) Arima, Founder and CEO
Toby Symonds, President
Dominic Allen, Chief Commercial Officer

Investors: investorrelations@iperionx.com
Media: media@iperionx.com

+1 980 237 8900
www.iperionx.com

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1} Source: MP Materials (link), Energy Fuels (link), USA Rare Earths (link)

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/80836bd0-5f2b-4a8a-861e-8fdcb0dbed89 

https://www.globenewswire.com/NewsRoom/AttachmentNg/7ad3a6fb-ffa9-42d5-99bc-1e91dcc6609d 

https://www.globenewswire.com/NewsRoom/AttachmentNg/9b9e0bc5-5abb-4a4f-bfb6-2711b33c5084 

https://www.globenewswire.com/NewsRoom/AttachmentNg/2788712e-6827-48b8-a0f7-a3b0b9036703

Figure 1

Illustrative example of the potential benefits attributable to high grade feedstocks in mineral extraction and processing operations.

Figure 2

Mining development areas at Camden (upper LHS) highlighting the extensive pre-stripped exposed Lower McNairy formation aligned with the regional stratigraphic column (RHS).

Figure 3

Camden acquisition in relation to the Titan Critical Minerals Project.

Figure 4

U.S. rare earths supply chain components and associated U.S. Government funding(1).

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