SunMirror AG: Moolyella Programme of Works (PoW) approved by Department of Energy, Mines Industry and Regulation (DEMIRS)

Zug (pta015/22.08.2024/09:58) - Zug, Switzerland 22 August 2024 – As an update to previous communications on the 17th of July, SunMirror AG (the "Company", "SunMirror", and together with its direct and indirect subsidiaries the "Group", Vienna Stock Exchange: ROR1; ISIN CH0396131929), is pleased to provide further news on its exploration activities in Western Australia.

Highlights:

Following submission on the 7th June of the Programme of Works (PoW) for up to 495 reverse circulation (RC) drill hole sites on the Company's Moolyella Licence, the Company was asked by the Department of Energy, Mines Industry and Regulation (DEMIRS) to provide an Exploration Environmental Management Plan (EEMP) to supplement its submission.

Rescology Environmental Consultants, based in Perth (Western Australia) were subsequently engaged to develop the EEMP on the company's behalf. The final EEMP submitted to the DEMIRS was based on a review of all licence documentation including fauna and flora studies (previously commissioned by the Company) as well as Heritage Site Visit Report by the Elders of the Nyamal Aboriginal Corporation (NAC), the traditional landowners in the area.

Following their review of the EEMP, DEMIRS approved the PoW on 13th August 2024.

The PoW approval is based on various standard conditions:

* All Exploration and prospecting disturbances, excluding supporting infrastructure, being backfilled and rehabilitated to the satisfaction of the Environmental Officer, Department of Energy, Mines, Industry Regulation and Safety. Backfilling and rehabilitation being required no later than 12 months after completion of the activity unless otherwise approved in writing by the Environmental Officer, Department of Energy, Mines, Industry Regulation and Safety.

* All supporting infrastructure for exploration and prospecting including core yards, laydowns, camps, and access tracks (excluding drill lines), being rehabilitated to the satisfaction of the Environmental Officer, Department of Energy, Mines, Industry Regulation and Safety. Rehabilitation being required by the earlier of 12 months from the infrastructure being no longer required to support exploration, or 12 months from the relevant programme of work expiring, unless otherwise approved in writing by the Environmental Officer, Department of Energy, Mines, Industry Regulation and Safety.

* The tenement holder maintaining appropriate records of exploration/prospecting activities, and associated rehabilitation undertaken, in order to demonstrate compliance with all conditions and environmental management and rehabilitation practice commitments. These records to be made available to the Department upon request.

* All exploration and prospecting operations being in compliance with the environmental management and rehabilitation practice commitments provided in the approved programme of work

Laurent Quelin, Chairman and CFO of SunMirror AG, comments: "I am delighted that our Programme of Work application has been accepted first time. I would like to thank Catherine Galli from Rescology for developing a truly comprehensive EEMP for our Moolyella licence, which reflects our firm commitment to responsible exploration by maintaining and respecting traditional landowners' cultural protocol as well as protecting the indigenous fauna and flora within our licence area. The scheduling of the full drilling plan will depend on market conditions given the recent weakness in lithium prices."

About SunMirror AG

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The Group invests into strategic mineral exploration assets with a strong focus on sustainable green battery metals, like cobalt, lithium and nickel, as well as copper and gold deposits in developed markets. The company aims to either produce minerals at a later stage or sell those assets to strategic buyers. SunMirror's key exploration assets acquired in 2020, are currently located in Western Australia but the Group aims to complement its portfolio with additional early-stage mining licenses, focused on Europe with the ultimate aim of providing a secure, stable and sustainable supply of battery raw materials to support the electric revolution. SunMirror's core belief is that exploring for green battery metals must be accompanied by a sustainable approach to mining, thereby aiming to become a reference in terms of "responsible exploration".

The company's shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (auction trading, ticker: ROR1). For further information, please visit: http://www.sunmirror.com.

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