IperionX's Covia Camden deal unlocks the largest stacked-critical-minerals play across the 'Big Sandy' province in Tennessee USA At first glance, it is a disciplined, strategic US$3m bolt-on acquisition next to the $IPX Titan Project But the opportunity is transformational: IperionX has added a high-grade, lower-cost foundation for its leading American rare earth and critical minerals platform Historical mining at Camden only targeted the high-purity silica sand horizon. Decades of silica sand operations just separated and stockpiled the heavy rare earth and critical minerals, rather than commercialising them.  That singular focus on high-purity silica sand also left behind the highest-grade mineral horizon across the Big Sandy province, the Lower McNairy seam, and left a pre-stripped horizon over a vast ~140 acres. That is potentially a massive development shortcut. For IperionX, Camden adds the potential of at-surface rare earth and critical mineral stockpiles, mineral rights, equipment, rail, utilities, owned and leased land, and established industrial infrastructure directly beside Titan in Tennessee. That is important because critical mineral projects are typically hardest at the start: upfront capex, stripping, infrastructure buildout and years of work before valuable feedstock arrives. For U.S. strategic supply chains, Titan Camden will strengthen domestic supply across titanium minerals, zircon and heavy rare earth-bearing monazite xenotime minerals: critical inputs for American defense, aerospace, magnets and advanced manufacturing. Camden unlocks new opportunities across ‘Big Sandy' The first strategic opportunity is the pre-concentrated mineral stockpiles: nearly 50 acres of pre-processed critical mineral feedstocks already at surface. These point to a potential high-grade feed source that could deliver lower capex and mining costs. The next prize is the pre-stripped, higher-grade Lower McNairy rare earth and critical mineral horizon over ~140 acres At Titan, the Lower McNairy is a powerful critical mineral horizon with ~50% higher grade than the Upper McNairy, but the value uplift is far larger: Nearly 3x the contained zircon minerals, 2.5x contained high-grade titanium rutile minerals and 14x the contained rare-earth minerals (including Xenotime) per tonne of minerals sands. That is why Covia’s exposed, pre-stripped, and thick Lower McNairy seam could materially shift total project economics. That could also underpin a superior ‘Big Sandy' development pathway: Stockpiles first. Minimal mining cost, higher grades  Pre-stripped Lower McNairy second. Lower strip ratio, higher grades  Sale Titan third. Long-life rare earth and critical mineral production backbone Camden potentially unlocks a faster, lower cost pathway to early high-grade rare earth and critical mineral feedstock. If IperionX confirms tonnage, recoveries and processing performance, this acquisition could become the high-grade front-end that potentially unlocks a larger, more valuable project that is faster to commercialise. $IPX may have secured a highly valuable shortcut that makes 'Big Sandy' the premier, permitted, heavy rare earth and critical minerals stacked development play in the U.S.

April: Q2 announced an Inferred MRE at the Cisco Lithium Project: 295 MT at 1.36% Li₂O. May: Q2 closed a $70M financing & announced its largest drill program to date for Summer 2026. $QTWO.V $QUEXF Q2 Metals CEO Alicia Milne discusses these milestones: youtube.com/watch?v=Y83INJb6…

🚨 #ICYMI Q2 Metals VP Exploration Neil McCallum joined @RKEquityRocks with @LithiumIonBull & @matt_fernley for a discussion on: ✅ 2026 Drilling Plans ✅ Cisco Discovery Upside ✅ Our Latest Assay News ✅ PEA coming and more! $QTWO.V $QUEXF 💻 Watch: youtube.com/watch?v=BYcVmpls…

And still early days for Cisco

I was going to leave poor Neil (Spod Final Boss) alone as I thought we were getting infill today, but the BOSS delivered two yuge hits outside of the known pegs. The peg in hole 77 is thick and high grade and will fall within the pit. At the bottom of hole 71 he has added big to the "underground", 580m vertical (760 down hole)

📣 NEWS 📣 Q2 Metals Reports Multiple Wide Intercepts, Including 264.6 Metres at 1.84% Li2O and 152.9 Metres at 1.59% Li2O in Drill Hole 71 at the Cisco Lithium Project in Quebec, Canada $QTWO.V $QUEXF 📰Read the full press release 👇: q2metals.com/news/q2-metals-…

Several important catalysts ahead for @Q2Metals

💥Q2 Metals Announces Closing of C$70 Million Private Placement of Common Shares and Flow-Through Shares $QTWO $QTWO.V $QUEXF #THECiscoLithiumProject Read the full press release here 👉: q2metals.com/news/q2-metals-…

🗣️ Q2 Metals’ Director/Executive Chair @keithdphillips will be attending the SME Current Trends in Mining Finance Conference (CTMF). He will feature on the “Developments in the Lithium Market” panel. $QTWO.V $QUEXF 🗓️ When: Tuesday, May 19 🕰️ Time: 3:30 pm 📍 New York, NY, USA

This January post was well-timed. @ElevraLithium operating leverage being realized, and @Q2Metals maiden resource truly world class.

Killer page from latest PPT on the @Q2Metals website. #Cisco offers scale and grade and is well-located in a great jurisdiction.

$QTWO on the board at #4 spodumene resources globally 👏 Maiden inferred 294.7Mt @ 1.36% Li2O, includes 270.5Mt @ 1.36% Li2O open pit (0.4% Li2O cut) and 24.2Mt @ 1.34% Li2O underground (0.7% Li2O cut). Additional exploration target of 44-67Mt @ 0.88-1.35% Li2O.

SPOD FINAL BOSS BECOMES A KING

What is the definition of a "Tier One Asset"? Q2 Metals Announces Inferred Mineral Resource Estimate on the Cisco Lithium Project with 295 Million Tonnes Grading 1.36% Li₂O #lithium #spodumene $qtwo globenewswire.com/news-relea…

Today's news.

@Q2Metals noticed on @BNNBloomberg this AM ..:) $QTWO

⛏️🏢Another @the_PDAC is in the books! 👥32,155 attendees, countless investors at the booth, and a week of great meetings. Thank you to everyone who took the time to connect and learn more about Q2 Metals and the Cisco Lithium Project. $QTWO $QTWO.V $QUEXF #PDAC2026

#ICYMI Q2 Metals' VP Exploration, Neil McCallum joined @LithiumIonBull, @matt_fernley & @RodneyHooper13 on @RKEquityRocks to discuss recent news & the upcoming release of our inaugural inferred MRE at the Cisco Project. $QTWO $QTWO.V $QUEXF 📺Watch here: youtube.com/watch?v=EfoDR2-D…

❗️In two days, the Q2 Metals team will be attending #PDAC2026 (@the_PDAC). Come meet the team and learn about the Cisco Lithium Project. 📍Investor Exchange: Booth 2726 $QTWO $QTWO.V $QUEXF