Strike Resources Limited - MARKET ANNOUNCEMENT Significant Port and Rail Infrastructure Development Update in Peru

About this update from Strike Resources Limited

Strike Resources Limited (ASX:SRK) (Strike) is pleased to provide an update on significant port and rail infrastructure development initiatives in Peru , and its impact on Strike's Apurimac Iron Ore Project (Apurimac). The Peruvian Government, through its Private Investment Promotion Agency (PROINVERSION), has awarded a design, financing, construction, operation and maintenance contract for a new San Juan de Marcona Port Terminal ( Marcona Port Terminal ).1 With an anticipated investment of approximately US$405 million , this multipurpose megaport project is set to revitalise economic activities in southern Peru and has particular relevance to Strike as it is tied into and forms part of an integrated infrastructure plan proposed by the Government to create the Marcona-Andahuaylas Railway line which commences at the Andahuaylas Airport directly adjacent to Strike's Apurimac Project and terminates at the Marcona Port Terminal . 2 The construction tender was awarded to the Chinese firm Terminal Portuario Jinzhao Peru S.A. , with construction expected to begin in 2025, with Phase 1 of the port operations expected to commence two years later. This contract underscores international interest and confidence in Peru's economic prospects. The development of the Marcona Port Terminal is relevant to Strike's Apurimac Project as it has cemented the first step in the Peruvian Government's plans to build the Marcona-Andahuaylas Railway line. Once fully operational, the Marcona Port Terminal is projected to handle over 40Mt of freight annually, with the Government planning for Strike's Apurimac Project to potentially contribute approximately half of the Port capacity of up to 20Mtpa of iron ore. Whilst the Marcona-Andahuaylas Railway line is still in the development phase, Strike is very pleased to see the awarding of a construction and operation contract for the Marcona Port Terminal as it is an important step forward in the potential development of the Marcona-Andahuaylas Railway line as an integrated mine to port solution for the considerable iron ore deposits held by Strike through its Peruvian subsidiary, Apurimac Ferrum S.A. About Marcona-Andahuaylas Railway Line In 2018, Strike announced the Peruvian Government's plans to construct a railway linking Strike's Apurimac Project to the port of San Juan de Marcona.4 This initiative marked the beginning of significant advancements in Peru's infrastructure development efforts. The Marcona-Andahuaylas Railway is envisaged as a transformative link between the coastal and mountainous regions of southern Peru . With a length of 560km and strategic stops in key economic hubs, including Ica, Arequipa, Ayacucho, and Apurimac, this railway is anticipated to benefit over 4 million people. The Marcona-Andahuaylas Railway project stems from a comprehensive study commissioned by the Peruvian Government in 2019.4 Strike has been actively engaged in collaboration with the Peruvian Government's Southern Railway Study Group , contributing to the analysis of various route options. The preferred route, starting directly at the Andahuaylas Airport adjacent to Strike's Apurimac Project , is poised to optimise logistical efficiency and reduce capital costs, thereby enhancing the viability of Apurimac. The convergence of the new San Juan de Marcona Port Terminal project and the MarconaAndahuaylas Railway initiative underscores Peru's commitment to driving economic growth, fostering regional development, and improving the quality of life for its citizens. These transformative infrastructure investments are stated by the Government to herald a new era of prosperity and opportunity, positioning Peru as a dynamic hub for commerce, trade, and innovation in the South American region. Strike is highly encouraged by these port and rail developments and remains committed to actively collaborating with the Peruvian Government and other stakeholders to ensure the successful development of Peru's port and rail infrastructure projects. About Apurimac Iron Ore Project Strike's Apurimac Iron Ore Project in Peru is recognised as one of the highest grade, large scale magnetite projects in the world with the potential to support the establishment of a significant iron ore operation. Contact: Farooq Khan Executive Chairman Tel: (08) 9214 9700 Email: [email protected] ABOUT STRIKE RESOURCES LIMITED (ASX:SRK) Strike Resources Limited (ASX:SRK) is an ASX listed resource company which owns the high grade Apurimac Iron Ore Project in Peru where it has exported 'Apurimac Premium Lump' DSO product of 65% Fe. Strike also has a 31.01m (27.7%) shareholding in Lithium Energy Limited (ASX:LEL), which was spun-out of Strike under a $9m IPO in May 2021 . Lithium Energy is developing battery minerals related assets - the Solaroz Lithium Brine Project in Argentina and the Burke and Corella Graphite Projects in Queensland . The Strike ASX market announcements referred to in this announcement may be viewed and downloaded from the Company's website: www.strikeresources.com.au or the ASX website: www.asx.com.au under ASX code 'SRK'. FORWARD LOOKING STATEMENTS This document contains 'forward-looking statements' and 'forward-looking information', including statements and forecasts which include without limitation, expectations regarding future performance, costs, production levels or rates, mineral reserves and resources, the financial position of the Company, industry growth and other trend projections. Often, but not always, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'is expected', 'is expecting', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might', or 'will' be taken, occur or be achieved. Such information is based on assumptions and judgements of management regarding future events and results. The purpose of forwardlooking information is to provide the audience with information about management's expectations and plans. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forwardlooking information. Such factors include, among others, changes in market conditions, future prices of minerals/commodities, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns. Forward-looking information and statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. The Company believes that the assumptions and expectations reflected in such forward-looking statements and information are reasonable. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company does not undertake to update any forward-looking information or statements, except in accordance with applicable securities laws (C) 2024 Electronic News Publishing, source ENP Newswire

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