Sunrise Energy Metals is delighted to announce the U.S. Department of War’s Office of Strategic Capital has confirmed a conditional commitment of up to US$400 million in long-term debt financing to support the development of our 100%-owned Syerston Scandium Project. The @DeptofWar's Office of Strategic Capital develops and implements strategies and partnerships to accelerate and scale private investment in critical supply chain technologies needed for national security. Its conditional commitment to Sunrise underscores the increasing importance of securing a Western supply of scandium, and the strength of our Syerston Scandium Project. Scandium, a rare earth metal, is critical to numerous applications in defence, advanced manufacturing, artificial intelligence infrastructure and wireless spectrum technologies. Sunrise Energy Metals is developing the Syerston Scandium Project, the world’s largest and highest-grade scandium deposit. Syerston is set to become the first primary scandium mine rather than a by-product source. Our deposit holds over 32,000 tonnes of contained scandium in mineral resources: enough to meet global demand for many decades to come. The conditional commitment will also accelerate several aspects of the project: ● Sunrise will support the construction of scandium metal refining capacity in the United States, as well as associated modifications to the refinery to produce a range of chemical-grade scandium compounds. ● Enable Sunrise to preserve options to accelerate expansion of the project to c. 180tpa of scandium oxide capacity by bringing expansion capital forward into the initial development for utilities and civil infrastructure. ● Give Sunrise greater control over permitting timelines for power connection by bringing the cost of power generation for the mine and refinery into capital expenditure, rather than off-balance sheet financing via third parties. Read the full press release here: api.investi.com.au/api/annou… #GovernmentFunding #OfficeOfStrategicCapital #DepartmentOfWar #NationalSecurity #Mining #Scandium

Great to see the United States extend its commitment to developing secure critical minerals supply chains from domestic or allied sources for its defense industry. On July 20, President Trump signed an executive order that will make it harder for U.S. defence contractors to obtain waivers to buy critical minerals and other materials from restricted foreign suppliers. The order, which goes into effect at the beginning of next year, requires companies seeking waivers to acquire sensitive materials from “non-allied foreign nations” to demonstrate thorough efforts to source materials from compliant countries or prove that no such material is available. Sunrise Energy Metals is developing the Syerston Scandium project in Australia to create a globally significant source of primary scandium in a Western-aligned nation. Scandium can be used to create exceptionally strong, lightweight and weldable alloys for aerospace and defence and the material is also key to emerging semiconductor, memory and next-generation communications technologies. China, currently the world’s largest scandium supplier, is among the “non-allied foreign nations” singled out in the U.S. executive order. That means U.S. defence contractors will face increased pressure next year to obtain scandium from a “compliant” alternative to China or explain why they cannot. Sunrise is pleased to see yet another indication that we chose the right moment to develop a major new source of scandium to meet global demand. Find out more about Sunrise and our Syerston Scandium Project sunriseem.com/ Read the Executive Order here: whitehouse.gov/presidential-… #criticalminerals #scandium #mining #usdefense #supplychain