Jubilee Metals Copper Zambia Project Expansion Update

Jubilee Metals Group, a leader in diversified metals processing, with operations in Africa, has provided an update on the expansion of its Roan Concentrator (“Roan”) in Zambia.

Roll-out of copper expansion strategy in Zambia progressing ahead of schedule with all long lead items secured for Roan upgrade:

• Delivery of equipment and on-site assembly scheduled to commence in early September 2023.
• Commissioning remains on track to commence in October 2023.
• At completion, Roan will hold the unique capability to process a variety of ROM and waste sources.
• Jubilee has secured an additional 6-year Copper ROM supply at Roan on the back of the targeted expansion of the operations. The ROM supply agreement targets the supply of a minimum of 2% total Cu grades of previously mined material.
• The new ROM supply will form the base load material to be processed through the upgraded front-end of Roan and account for approximately 60% of the stated capacity at Roan.
• The new modular designed Roan front-end, offers the opportunity, similar to the chrome business model, to rapidly deploy satellite modular units to upgrade remote feed sources for further refining.
• Results from the Northern refining process trials which were initiated to understand the extent of the waste and non-traditional ore opportunities, delivered encouraging results, exceedingexpectations in copper recoveries achieved from historical tailings materials.
  • The process trials, a culmination of 3 years of research and development, targeted the use of a low capital-intensive solution to produce a high-grade copper concentrate for further refining.
  • The results achieved motivated the decision to immediately commence with the implementation of a bulk semi-commercial pilot facility at the Luanshya tailings facility which will be completed over the next 12 weeks.
  • Results from the pilot trials, which target feed batches of approximately 500 tonnes at a time, will be used to confirm the design assumptions on scalability of the process flowsheet and to confirm final plant unit sizes. The bulk pilot facility is a critical final step towards confirming the design detail for the large-scale operational solution.