Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to announce that it has entered into a licensing agreement with leading German battery mineral consultancy group Dorfner ANZAPLAN GmbH (Dorfner ANZAPLAN).

The licensing agreement will permit Renascor to utilise an eco-friendly purification process for its planned Purified Spherical Graphite (PSG) manufacturing facility in South Australia

Commenting on the licensing agreement, Renascor Managing Director David Christensen stated: 'We have been working with Dorfner ANZAPLAN for several years to optimise our purification process to improve the efficiency of our planned battery grade Purified Spherical Graphite manufacturing facility in South Australia. The optimisation trials conducted with Dorfner ANZAPLAN have resulted in the development of a process that we expect will result in both greater operational efficiency and positive ESG outcomes by reducing water consumption. This improved purification process has been incorporated in the engineering and design for our recently completed Battery Anode Material Study, with the results delivering a globally competitive estimated operating cost for producing PSG. We look forward to our continuing collaboration with Dorfner ANZAPLAN as we advance into construction and operation of an important new supply line for the lithium-ion battery industry.'

Discussion

As part of Renascor's plans to produce PSG for lithium-ion battery anodes from its Siviour Graphite Deposit in South Australia, Renascor has worked with Dorfner ANZAPLAN to develop an eco-friendly processto purify Siviour Graphite Concentrates to lithium-ion battery anode grade. Rather than using hydrofluoric acid (HF) to achieve battery grade (the method commonly adopted in Chinese PSG plants), Renascor has adopted a process that uses less environmentally harmful reagents to purify Siviour graphite. In 2021, Renascor completed locked cycle purification tests with Dorfner ANZAPLAN using Renascor's HF-free flowsheet in which graphite is first roasted at low temperature with a caustic solution, followed by multi-stage leaching to achieve the required purity3 . The results confirmed that the purification circuit using caustic and non-HF acids can meet or exceed lithium-ion battery anode purity specifications, with results of up to 99.99% C, with no impurities detected above acceptable anode customer specifications4 . Subsequent optimisation trials undertaken with Dorfner ANZAPLAN in 2022 focused on further improving the purification process flowsheet. These further trials included modifying the previous purification circuit to reduce the number of leaching stages when compared to the circuit adopted in the 2021 trials5 . Further locked cycle tests with this modified flowsheet have achieved lithium-ion battery grade PSG, with purity continuing to reach up to 99.99% C and impurities below anode customer specifications. Renascor considers that this modified flowsheet offers the potential for reduced operational risk, by reducing the number of leaching stages, while also enhancing environmental efficiency by reducing water consumption. Renascor has incorporated the new purification flowsheet into the engineering and design for the proposed PSG manufacturing facility in the recently announced optimised Battery Anode Material (BAM) study6 , with the study estimating that Renascor's planned state-of-the-art BAM project will deliver a globally competitive estimated PSG gross operating cost of US$1,782 per tonne over the first 10 years and US$1,846 per tonne over 40-year mine life7 .

Downstream Purification Process and Patent Opposition

As reported in April 20228 , Renascor lodged an opposition to a pending patent application relating to the purification of graphite. Renascor considers the pending patent application to be overly broad and relating to processing procedures that are not sufficiently novel or inventive to merit patent protection. The opposition to the pending patent application is on-going, with hearings likely to occur later this year. The purification process that is subject to the licensing agreement with Dorfner ANZAPLAN utilises an alternative process to that described in the claims of the pending patent application. Accordingly, Renascor's plans in relation to the progression of the Siviour Project will not be impacted by the outcome of the pending patent opposition. This ASX announcement has been approved by Renascor's Board of Directors and authorised for release by Renascor's Managing Director David Christensen.

Contact:

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Renascor confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Renascor confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. This report may contain forward-looking statements. Any forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. It should be noted that a number of factors could cause actual results, or expectations to differ materially from the results expressed or implied in the forward-looking statements

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