Mr. Bryce Crocker reports

JERVOIS COMMENCES U.S. DEPARTMENT OF DEFENSE FUNDED DRILLING AT ICO'S RAM DEPOSIT

Jervois Global Ltd. has commenced the underground resource extension program at the RAM deposit at its 100-per-cent-owned Idaho cobalt operations in Idaho, United States, through local contractors Small Mine Development and Major Drilling, financed under a $15-million (U.S.) agreement with the U.S. government.

The RAM resource extension program has completed approximately 50 per cent of the underground exploration drift, and stepout drilling to define potential extension of the existing RAM mineral resource has commenced.

Based on the existing $15.0-million (U.S.) agreement financing, Jervois direct expenditure for the resource extension program including exploration development drifts, drilling, logging, assaying, MRE modelling and other related Jervois supervision costs through fourth quarter 2024, are fully financed by the U.S. Department of Defence.

The agreement financing is under the manufacturing capability expansion and investment prioritization office of industrial base policy using the U.S. Defence Production Act Title III authorities and utilizes funds from the Additional Ukraine Supplemental Appropriations Act.

We seek Safe Harbor.