Mr. Geoff Clark reports

ACCELEWARE LTD. ANNOUNCES FEASIBILITY STUDIES FOR BHP

Acceleware Ltd. has ordered two paid feasibility studies from BHP. The studies will assess the techno-economic viability of using Acceleware's electromagnetic-powered heat for novel mineral processing and drying applications.

"Both studies are new and exciting opportunities to demonstrate how our EM-powered heat technology can transform minerals processing," said Geoff Clark, chief executive officer. "These innovations align with our strategy to deliver cost-efficient process heat solutions that increase production for the mining sector. Building on strong results from our potash dryer prototype, we're eager to advance both iron ore drying and heap-leach heating to unlock new growth opportunities in mineral processing."

The first study will explore the use of radio frequency (RF) energy delivered by Acceleware's EM-powered heat platform to reduce moisture levels in iron ore from the Pilbara region of Australia. Reduction in moisture is critical to reduce or eliminate processing plant delays. Activities in the study include determining the optimal method for applying RF energy to dry the ore and collaborating with the client on how to integrate this heating stage into the existing process flow.

The second study will involve assessing the use of RF energy to improve the efficiency of copper production through heap leaching in Chile. Research suggests that increasing the temperature of the heap can have a positive effect on yield compared with ambient temperatures. There are currently more than 200 active heaps worldwide that produce gold, copper, silver and nickel. The global annual value of just the copper produced through heap leaching is estimated at $41-billion (U.S.). Activities in the study include determining the feasibility of and the optimal method for applying RF energy to elevate and maintain the temperature of the heap. Methods include heating the ore directly or heating the solution used to extract the copper from the heap, or a combination of both.

About Acceleware Ltd.

Acceleware is an advanced electromagnetic heating company with cutting-edge RF power-to-heat solutions for large industrial applications. Its technologies enable electrification and decarbonize industrial process heat applications while reducing costs.

Acceleware has partnered with a consortium of world-class potash producers to reduce operating costs and emissions for potash ore drying. The company is also working to use its patented, field-proven clean-tech inverter to materially improve the efficiency of amine regeneration while also developing additional process heat applications and partnerships for RF heating.

Acceleware's RFXL is a patented low-cost, low-carbon RF thermal technology for enhanced oil production for heavy oil. This approach is materially different from any existing recovery technique.

Acceleware is a public company listed on the TSX Venture Exchange under the trading symbol AXE.