Project Overview - WA1 Resources Ltd owns 100% of the Luni niobium project, discovered in late 2022, with first ferroniobium sample produced in 2024 and an Indicated MRE reported mid-2025[6] - The company has A$73 million in cash to advance key project workstreams[6] - The project is advancing with mine design informed by the Indicated MRE, ongoing process testwork, environmental studies, and local engagement[62, 63] Resource Estimate - The Luni niobium deposit contains a total MRE of 220 Mt at 1.0% Nb2O5[18] - Within the total MRE, there is a substantial Indicated MRE of 73 Mt at 1.38% Nb2O5[18] - A high-grade subset within the Indicated MRE is 31 Mt at 2.31% Nb2O5, part of a total subset of 53 Mt at 2.2% Nb2O5[18] - 46% of the niobium contained within the Luni MRE is classified as Indicated[18, 66] Corporate Information - WA1 Resources Ltd's share price was A$16.40 as of August 4, 2025[11] - The company has 68.4 million shares on issue, resulting in a market capitalization of A$1,121 million[11] - The enterprise value of the company is A$1,048 million[11] Niobium Market - Global ferroniobium production is approximately 115ktpa with a price of approximately US$30,000/t[40] - Niobium oxide production is approximately 18ktpa with a price of approximately US$52,000/t of Nb2O5[51] - Ferroniobium is an alloy typically containing ~65% Nb and is primarily used in high-strength low-alloy steels[40]

Core Viewpoint - Nio Strategic Metals Inc. has successfully completed debt conversion agreements to improve its financial position by eliminating outstanding debt and preserving cash flow [1][4]. Financial Transactions - The company converted a loan of $450,000 and settled $45,000 in accrued services by issuing 11,000,001 common shares at a deemed price of $0.045 per share [1]. - The debt conversion agreements are classified as related party transactions, and the company relied on exemptions from certain requirements under Multilateral Instrument 61-101 [2]. Impact on Financial Position - Following the agreements, Nio will not carry any debt on its balance sheet, except for usual short-term accrued payables, significantly improving its financial health [4]. - The insider, Nio-Metals Holdings LLC, now owns approximately 45.9% of the issued and outstanding shares after receiving 10,000,000 shares as part of the debt conversion [5]. Corporate Governance - The company did not file a material change report 21 days prior to the closing of the debt conversion agreements, which it deemed reasonable to expedite financial improvement [3]. - An Annual and Special Meeting of Shareholders is scheduled for July 9, 2025, to discuss corporate matters [5]. Company Overview - Nio Strategic Metals is focused on becoming a ferroniobium producer and holds niobium properties in Quebec [6].

Core Viewpoint - Nio Strategic Metals Inc. plans to enter into share-for-debt agreements to settle an aggregate of $495,000 of outstanding debt, which will significantly improve its financial position by eliminating debt from its balance sheet [1][4]. Debt Conversion Agreements - Nio has agreed to convert a loan principal of $450,000 from Nio-Metals Holdings LLC into 10,000,000 shares at a price of $0.045 per share [2]. - Additionally, the company has entered into agreements with four current directors and its Chief Financial Officer to convert unpaid service fees of $45,000 into 1,000,001 shares at the same price [3]. Financial Position Improvement - The Board of Directors and Management believe that these agreements will drastically enhance the financial position of the Corporation by eliminating existing debt, except for usual short-term accrued payables [4]. Related Party Transactions - The debt conversion agreement and shares for services agreements are classified as Related Party Transactions under Multilateral Instrument 61-101 [5]. - The Corporation is relying on exemptions from certain requirements of MI 61-101, as the fair market value of the shares does not exceed 25% of its market capitalization [6]. Share Issuance and Hold Period - The issuance of shares is subject to approval from the TSX Venture Exchange, and the shares will be subject to a four-month hold period as per applicable securities regulations [7]. Insider Ownership Post-Transaction - Following the debt conversion agreement, Nio-Metals Holdings LLC will own approximately 45.9% of the issued and outstanding shares, totaling 46,658,211 shares [8].