DGAP-News

FYI Resources: COMMENCEMENT OF THIRD JOINT HPA EXTENDED PILOT PLANT TRIAL

DGAP-News: FYI Resources / Key word(s): Miscellaneous FYI Resources: COMMENCEMENT OF THIRD JOINT HPA EXTENDED PILOT PLANT TRIAL 18.01.2022 / 09:20 The issuer is solely responsible for the content of this announcement. 18. Januar 2022                                                                     ASX:FYI   OTCQX:FYIRF COMMENCEMENT OF THIRD JOINT HPA EXTENDED PILOT PLANT TRIAL FYI Resources Ltd ("FYI" or "the Company") (ASX:FYI; OTCQX:FYIRF; FSE:SDL), is pleased to announce the commencement of the third extended pilot plant campaign, in joint development with Alcoa of Australia (Alcoa).

The extended series of one week pilot plant runs is designed to incorporate various process and operating refinements for trial with the objective to further enhance and optimize FYI's innovative, high purity alumina (HPA) refining process.

The success of the first two extended pilot plant trials continued to increase the development teams understanding of operating conditions of the process flowsheet. This week-long trial will have similar operating conditions as the previous two trials, however with minor refinements to provide different operating objectives variability and optimizing testwork. The trial will operate on a 24/7 basis from the 18^th to 25^th January.

The process improvements achieved as a result of these pilot plant trials is anticipated to add significant value to the project through enhancements to the flowsheet and resulting reductions in capital and operating costs.

In addition, the series of extended pilot plant trials are crucial to the joint development marketing program via the generation of high quality HPA that is representative of the proposed commercial product. The pilot plant trials are not a condition precedent to the project joint venture.

FYI will keep the market updated regarding the progress of the third trial run as well as the subsequent analytical results.

This announcement is authorised for release by Roland Hill, Managing Director