# AVL: Presentation - 2026 Vanadium & VFB Symposium Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152752 Publisher: asx Original announcement: 2026-10-14T22:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-14T23:09:29.231Z Atlas analysis updated: 2026-10-14T23:09:29.231Z - Company: Australian Vanadium Limited - Ticker: AVL - Exchange: ASX - Region: Unavailable - Primary commodity: Vanadium - Secondary commodities: Iron ore, Titanium, Silicon, Aluminium - Document categories: Other, Resource update - Extracted: 2026-10-14 23:09:29 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Australian Vanadium Limited \(AVL\) presented at the 2026 International Symposium on Vanadium and Vanadium Flow Batteries, highlighting the growing market for vanadium and its integrated strategy across mining, electrolyte manufacturing, and BESS solutions. The presentation reiterates the significant Mineral Resource Estimate for the Australian Vanadium Project, which was last updated in May 2024, supporting the company's long-term vision. The overall resource demonstrates moderate confidence with over 42% in Measured and Indicated categories. Reasoning: The presentation outlines a positive outlook for vanadium and AVL's integrated strategy, supported by a previously announced resource estimate, but contains no new material technical results, making its novelty low. - Positive factor: Strong market outlook for vanadium and Vanadium Flow Batteries \(VFBs\) - Positive factor: Integrated strategy across mining, electrolyte manufacturing, and BESS solutions - Positive factor: Significant existing resource estimate for the Australian Vanadium Project - Positive factor: Moderate M&I confidence for the overall resource - Negative factor: No new material technical information in this presentation - Negative factor: Resource estimate is historical, dating back to May 2024, raising currency concerns Facts used in scoring: 48 ## Classification and evidence **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The resource estimate's effective date is May 7, 2024, which is more than two years prior to the document's publication date of October 2026. Evidence · text > The information in this announcement relating to mineral resource estimates for the Australian Vanadium Project is extracted from the announcement entitled ‘39% Increase in High Grade Measured and Indicated Mineral Resource’ released to the ASX on 7 May 2024. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document includes a Mineral Resource Estimate table for the Australian Vanadium Project. Evidence · text > Mineral Resource Estimate **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The document refers to ASX Listing Rule 5.23, which governs JORC Code compliance for mineral resource reporting in Australia. Evidence · text > ASX Listing Rule 5.23 The information in this announcement relating to mineral resource estimates for the Australian Vanadium Project is extracted from the announcement entitled ‘39% Increase in High Grade Measured and Indicated Mineral Resource’ released to the ASX on 7 May 2024. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The company confirms that the competent person's findings have not been materially modified from the original market announcements, implying a competent person sign-off. Evidence · text > The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcements. **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The resource estimate includes a significant portion classified as Indicated, totaling 136.6 Mt for the overall project. Evidence · table > Indicated Context: 136.6 **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The resource estimate includes a Measured category, totaling 30.6 Mt for the overall project, representing the highest confidence level. Evidence · table > Measured Context: 30.6 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A substantial portion of the resource, 228.2 Mt, is classified as Inferred, indicating lower geological confidence. Evidence · table > Inferred Context: 228.2 ## Extracted facts Stored fact records: 48. Some facts used in scoring do not have a stored record. ## Resource Estimates (48) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-0) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b722b62bb19ad9800da1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 1.14 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: High-grade Measured resource for vanadium, indicating strong confidence and quality, though the estimate is historical. - Positive factor: Strong grade for vanadium - Positive factor: Highest confidence category \(Measured\) - Negative factor: Resource estimate is historical Evidence · table > 1.14 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-1) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b722b62bb19ad9800da1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 12.9 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Measured resource for titanium with a strong grade, indicating good potential, though the estimate is historical. - Positive factor: Strong grade for titanium - Positive factor: Highest confidence category \(Measured\) - Negative factor: Resource estimate is historical Evidence · table > 12.9 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-2) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b722b62bb19ad9800da1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 7.4 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Measured resource for silicon dioxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 7.4 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-3) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b722b62bb19ad9800da1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 6.2 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Measured resource for aluminium oxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 6.2 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-4) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3ff66553b42784bf2d4 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 74800000 - Grade: 1.11 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: High-grade Indicated resource for vanadium, indicating strong confidence and quality, though the estimate is historical. - Positive factor: Strong grade for vanadium - Positive factor: Good confidence category \(Indicated\) - Negative factor: Resource estimate is historical Evidence · table > 1.11 Context: 74.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-5) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3ff66553b42784bf2d4 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 74800000 - Grade: 12.6 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for titanium with a strong grade, indicating good potential, though the estimate is historical. - Positive factor: Strong grade for titanium - Positive factor: Good confidence category \(Indicated\) - Negative factor: Resource estimate is historical Evidence · table > 12.6 Context: 74.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-6) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3ff66553b42784bf2d4 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 74800000 - Grade: 7 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for silicon dioxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 7.0 Context: 74.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-7) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3ff66553b42784bf2d4 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 74800000 - Grade: 5.7 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for aluminium oxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 5.7 Context: 74.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-8) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:808e6b45021c323442b1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 67900000 - Grade: 1.06 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: High-grade Inferred resource for vanadium, indicating good potential but with lower geological confidence, and the estimate is historical. - Positive factor: Strong grade for vanadium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 1.06 Context: 67.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-9) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:808e6b45021c323442b1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 67900000 - Grade: 12.1 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for titanium with a strong grade but lower geological confidence, and the estimate is historical. - Positive factor: Strong grade for titanium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 12.1 Context: 67.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-10) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:808e6b45021c323442b1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 67900000 - Grade: 9 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for silicon dioxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 9.0 Context: 67.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-11) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:808e6b45021c323442b1 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 67900000 - Grade: 6.6 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for aluminium oxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 6.6 Context: 67.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-12) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9d5ea0a3666fe7a20724 - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 61800000 - Grade: 0.55 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for vanadium in the LG zone with a moderate grade, and the estimate is historical. - Positive factor: Good confidence category \(Indicated\) - Negative factor: Moderate grade for vanadium - Negative factor: Resource estimate is historical Evidence · table > 0.55 Context: 61.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-13) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9d5ea0a3666fe7a20724 - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 61800000 - Grade: 7.1 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for titanium in the LG zone with a moderate grade, and the estimate is historical. - Positive factor: Good confidence category \(Indicated\) - Negative factor: Moderate grade for titanium - Negative factor: Resource estimate is historical Evidence · table > 7.1 Context: 61.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-14) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9d5ea0a3666fe7a20724 - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 61800000 - Grade: 26.6 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for silicon dioxide in the LG zone, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 26.6 Context: 61.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-15) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9d5ea0a3666fe7a20724 - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 61800000 - Grade: 16.3 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for aluminium oxide in the LG zone, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 16.3 Context: 61.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-16) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2b3b8037f426271cb7af - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 142500000 - Grade: 0.48 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for vanadium in the LG zone with a weak grade and lower confidence, and the estimate is historical. - Negative factor: Weak grade for vanadium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 0.48 Context: 142.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-17) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2b3b8037f426271cb7af - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 142500000 - Grade: 6.6 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for titanium in the LG zone with a weak grade and lower confidence, and the estimate is historical. - Negative factor: Weak grade for titanium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 6.6 Context: 142.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-18) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2b3b8037f426271cb7af - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 142500000 - Grade: 28.9 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for silicon dioxide in the LG zone, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 28.9 Context: 142.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-19) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2b3b8037f426271cb7af - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 142500000 - Grade: 15.2 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for aluminium oxide in the LG zone, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 15.2 Context: 142.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-20) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:4901b693345e190d2212 - Deposit or zone: Transported - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 17900000 - Grade: 0.65 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for vanadium in the Transported zone with a moderate grade and lower confidence, and the estimate is historical. - Negative factor: Moderate grade for vanadium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 0.65 Context: 17.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-21) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:4901b693345e190d2212 - Deposit or zone: Transported - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 17900000 - Grade: 7.3 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for titanium in the Transported zone with a moderate grade and lower confidence, and the estimate is historical. - Negative factor: Moderate grade for titanium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 7.3 Context: 17.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-22) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:4901b693345e190d2212 - Deposit or zone: Transported - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 17900000 - Grade: 24.1 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for silicon dioxide in the Transported zone, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 24.1 Context: 17.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-23) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:4901b693345e190d2212 - Deposit or zone: Transported - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 17900000 - Grade: 14.4 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for aluminium oxide in the Transported zone, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 14.4 Context: 17.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-24) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3b96f400e85f779a97ea - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 1.13 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Measured resource for vanadium with a strong grade, indicating high confidence, though the estimate is historical. - Positive factor: Strong grade for vanadium - Positive factor: Highest confidence category \(Measured\) - Negative factor: Resource estimate is historical Evidence · table > 1.13 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-25) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3b96f400e85f779a97ea - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 46.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Measured resource for iron ore with a weak grade, indicating lower economic potential, and the estimate is historical. - Positive factor: Highest confidence category \(Measured\) - Negative factor: Weak grade for iron ore - Negative factor: Resource estimate is historical Evidence · table > 46.3 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-26) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3b96f400e85f779a97ea - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 12.9 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Measured resource for titanium with a strong grade, indicating good potential, though the estimate is historical. - Positive factor: Strong grade for titanium - Positive factor: Highest confidence category \(Measured\) - Negative factor: Resource estimate is historical Evidence · table > 12.9 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-27) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3b96f400e85f779a97ea - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 7.4 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Measured resource for silicon dioxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 7.4 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-28) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3b96f400e85f779a97ea - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 6.2 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Measured resource for aluminium oxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 6.2 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-29) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2fff231c5ed17a1441d8 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 0.85 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Indicated resource for vanadium with a strong grade, indicating good confidence, though the estimate is historical. - Positive factor: Strong grade for vanadium - Positive factor: Good confidence category \(Indicated\) - Negative factor: Resource estimate is historical Evidence · table > 0.85 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-30) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2fff231c5ed17a1441d8 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 37.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Indicated resource for iron ore with a weak grade, indicating lower economic potential, and the estimate is historical. - Positive factor: Good confidence category \(Indicated\) - Negative factor: Weak grade for iron ore - Negative factor: Resource estimate is historical Evidence · table > 37.8 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-31) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2fff231c5ed17a1441d8 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 10.1 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Indicated resource for titanium with a strong grade, indicating good potential, though the estimate is historical. - Positive factor: Strong grade for titanium - Positive factor: Good confidence category \(Indicated\) - Negative factor: Resource estimate is historical Evidence · table > 10.1 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-32) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2fff231c5ed17a1441d8 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 15.8 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Indicated resource for silicon dioxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 15.8 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-33) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2fff231c5ed17a1441d8 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 10.5 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Indicated resource for aluminium oxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 10.5 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-34) The Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b1821c9c202480e4aa3a - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 0.66 - Grade Unit: % V2O5 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Inferred resource for vanadium with a moderate grade and lower confidence, and the estimate is historical. - Negative factor: Moderate grade for vanadium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 0.66 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-35) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b1821c9c202480e4aa3a - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 31.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Inferred resource for iron ore with a weak grade and lower confidence, and the estimate is historical. - Negative factor: Weak grade for iron ore - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 31.4 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-36) The Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: titanium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b1821c9c202480e4aa3a - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 8.3 - Grade Unit: % TiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Inferred resource for titanium with a moderate grade and lower confidence, and the estimate is historical. - Negative factor: Moderate grade for titanium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 8.3 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-37) The Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: silicon - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b1821c9c202480e4aa3a - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 22.6 - Grade Unit: % SiO2 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Inferred resource for silicon dioxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Silicon dioxide is typically a gangue mineral Evidence · table > 22.6 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-38) The Australian Vanadium Project · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b1821c9c202480e4aa3a - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 12.6 - Grade Unit: % Al2O3 #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Inferred resource for aluminium oxide, typically a gangue mineral, with slightly negative sentiment due to its nature, and the estimate is historical. - Negative factor: Resource estimate is historical - Negative factor: Aluminium oxide is typically a gangue mineral Evidence · table > 12.6 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-39) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0a84e22658b04e94387a - Deposit or zone: HG - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 46.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Measured resource for iron ore with a weak grade, indicating lower economic potential for this commodity, and the estimate is historical. - Positive factor: Highest confidence category \(Measured\) - Negative factor: Weak grade for iron ore - Negative factor: Resource estimate is historical Evidence · table > 46.3 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-40) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:01578c41f194922ba429 - Deposit or zone: HG - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 74800000 - Grade: 47.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for iron ore with a weak grade, indicating lower economic potential for this commodity, and the estimate is historical. - Positive factor: Good confidence category \(Indicated\) - Negative factor: Weak grade for iron ore - Negative factor: Resource estimate is historical Evidence · table > 47.5 Context: 74.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-41) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:4495ae187b2b50683cd5 - Deposit or zone: HG - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 67900000 - Grade: 45.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for iron ore with a weak grade and lower confidence, and the estimate is historical. - Negative factor: Weak grade for iron ore - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 45.3 Context: 67.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-42) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d2a14acd7af55cc61cd7 - Deposit or zone: LG - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 61800000 - Grade: 26.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Indicated resource for iron ore in the LG zone with a very weak grade, indicating low economic potential, and the estimate is historical. - Positive factor: Good confidence category \(Indicated\) - Negative factor: Very weak grade for iron ore - Negative factor: Resource estimate is historical Evidence · table > 26.1 Context: 61.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-43) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ce159531d5faffd8cb43 - Deposit or zone: LG - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 142500000 - Grade: 24.9 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for iron ore in the LG zone with a very weak grade and lower confidence, and the estimate is historical. - Negative factor: Very weak grade for iron ore - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 24.9 Context: 142.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-44) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0ebabb92ff044cd83387 - Deposit or zone: Transported - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 17900000 - Grade: 31 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Inferred resource for iron ore in the Transported zone with a weak grade and lower confidence, and the estimate is historical. - Negative factor: Weak grade for iron ore - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 31.0 Context: 17.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-45) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dc46d58532ff545f29e0 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 46.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: High-grade Measured resource for vanadium, indicating strong confidence and quality, though the estimate is historical. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong grade for vanadium - Positive factor: Highest confidence category \(Measured\) - Negative factor: Resource estimate is historical Evidence · table > 46.3 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-46) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:1196272c12e6376256fd - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 37.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Indicated resource for vanadium with a strong grade, indicating good confidence, though the estimate is historical. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong grade for vanadium - Positive factor: Good confidence category \(Indicated\) - Negative factor: Resource estimate is historical Evidence · table > 37.8 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-presentation-2026-vanadium-vfb-symposium--5be12164-cdb2-4b39-b83a-25fcf53099ca#fact-resource-facts-47) The Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: The Australian Vanadium Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9544667f2a7a6fcc573a - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 31.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Total Inferred resource for vanadium with a moderate grade and lower confidence, and the estimate is historical. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Moderate grade for vanadium - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Resource estimate is historical Evidence · table > 31.4 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.