Hyperion Engages Leading Firm to Commence Scoping Study

• Hyperion Metals has engaged Hatch, a leading engineering firm, to commence key engineering studies as part of a Scoping Study for the Titan Project in west Tennessee.
• Hatch is a top-tier multidisciplinary engineering firm with multiple locations in North America and extensive experience in U.S. critical mineral projects and will lead the design and project management of the Scoping Study.
• The Scoping Study is a key step in the development of the Titan Project in one of the most important critical mineral rich provinces in the USA.

Hyperion Metals Limited (ASX: HYM) (“Hyperion” or “the Company”) is pleased to announce the commencement of a scoping study (“Scoping Study”) on the Titan Project, which covers approximately 4,000 acres of titanium, rare earth minerals and zircon rich mineral sands properties in Tennessee, USA.

The Company has engaged global engineering firm Hatch to lead the design and project management of the Scoping Study, focused on the development of mining and processing facilities for sustainable critical minerals for advanced U.S. industries such as aerospace, EV’s, defense and renewables.

Hatch is a top-tier engineering firm with extensive experience in developing heavy mineral sand projects around the world for major mining companies. Hatch’s experience will prove invaluable to the success of the Titan Project. The Scoping Study will be led by John Elder, Hatch’s USA Mining and Metals Director, who has 30 years’ experience in heavy mineral sand developments and operations.

Hatch has recently led several successful feasibility studies and project developments in the southeastern USA, including being intimately involved in the development of Piedmont Lithium Ltd (NASDAQ:PLL, ASX: PLL) in North Carolina. Piedmont Lithium Ltd has successfully delivered major studies and is now an emerging A$1 billion market cap lithium developer.

The commencement of the Scoping Study is a key step in the development of the Titan Project in one of the most important critical mineral rich provinces in the USA. The Scoping Study will outline material physical and economic metrics as well as major development timelines. The Company expects the Scoping Study to be completed in Q3 2021.

Commenting on the commencement of the Scoping Study, Anastasios Arima, Managing Director of Hyperion said:

“We are very pleased to announce the commencement of a Scoping Study to be led by Hatch, a globally recognized engineering, consulting, and design firm, and it is a pleasure to engage such a reputable and experienced group to assist our team in progressing development of the world class Titan Project. Our project is critical to the U.S. requirement for sustainable, domestically sourced critical minerals for advanced U.S. industries such as aerospace, EV’s, defense and renewables.”

About Hyperion Metals

Hyperion’s mission is to be the leading developer of zero carbon, sustainable, critical material supply chains for advanced American industries including space, aerospace, electric vehicles, and 3D printing.

The Company holds a 100% interest in the Titan Project, covering approximately 4,000 acres of titanium, rare earth minerals, high grade silica sand and zircon rich mineral sands properties in Tennessee, USA. The Titan Project is strategically located in the southeast of the USA, with low-cost road, rail and water logistics connecting it to world class manufacturing industries.

Hyperion has secured an option for the exclusive license to produce low carbon titanium metal using the breakthrough HAMR technology. HAMR was invented by Dr. Z. Zak Fang and his team at the University of Utah with government funding from ARPA-E. The HAMR technology has demonstrated the potential to produce titanium powders with low-to-zero carbon intensity, significantly lower energy consumption, significantly lower cost and at product qualities which exceed current industry standards.

Hyperion has signed an MOU to establish a partnership with Energy Fuels that aims to build an integrated, all-American rare earths supply chain. The MOU will evaluate the potential supply of rare earth minerals from Hyperion’s Titan Project to Energy Fuels for value added processing at Energy Fuels’ White Mesa Mill. Rare earths are highly valued as critical materials for magnet production essential for wind turbines, EVs, consumer electronics and military applications.

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