Metallium's US Subsidiary Flash Metals USA Signs Non-Binding MOU with Traxys North America to Advance U.S. Critical Metals Commercialization of Metallium's Flash Joule Heating Platform

(ASX:MTM, OTCQX:MTMCF) Metallium Limited announced that its wholly owned U.S. subsidiary, Flash Metals USA, Inc., has signed a non-binding Memorandum of Understanding with Traxys North America LLC to evaluate opportunities for developing U.S. critical-metals supply chains. The collaboration will combine Metallium's Flash Joule Heating (FJH) processing platform with Traxys' global commercial capabilities. The framework agreement is effective through November 2027 and allows selected transactions to be advanced as they become technically and commercially viable. The immediate focus of the partnership is to define priority feedstocks and products, assess processing economics, and negotiate supply, offtake, and financing terms. Traxys North America LLC is described as a leading international metals and minerals sourcing conglomerate generating more than US$10 billion in annual revenue across more than 65 commodities. Traxys is also one of three suppliers named by the Export-Import Bank of the US (EXIM) for Project Vault, a U.S. Government-supported strategic critical minerals reserve backed by a loan facility of up to US$10 billion. Michael Walshe, managing director and CEO of Metallium, stated that midstream processing is essential for America's critical-metals security and that FJH is central to Metallium's solution. Walshe emphasized that Traxys brings sourcing, marketing, and financing experience to help Metallium connect processing capability with reliable feedstock and customers. He noted that the company's immediate focus will be on specific opportunities where Metallium's processing technology and Traxys' commercial capabilities can support viable domestic supply. Walshe also stated that after initial opportunities, the company intends to match feedstocks with product specifications and customer requirements, assess processing economics, and agree on workable supply, offtake, and financing terms. The company aims to progress the strongest opportunities first while retaining the broader framework to develop additional transactions. Traxys is headquartered in Luxembourg and operates more than 20 offices worldwide, engaging in sourcing, trading, marketing, and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials, and energy products. Metallium is developing U.S. processing capability for critical and precious metals through its subsidiary, Flash Metals USA Inc., with a strategy centered on Flash Joule Heating (FJH) and complementary processing steps to recover metals from mineral feedstocks, industrial residues, and recycled materials. Metallium's Gator Point Technology Campus in Anahuac, Texas, supports the development of its processing platform. The company aims to provide part of the midstream capability needed to connect domestic and allied feedstocks with downstream refining and manufacturing. Commercial deployment of Metallium's technology remains subject to technical performance, scale-up, product qualification, approvals, and funding.

Metallium Reports Successful Testing of its Proprietary Flash Joule Heating Technology on Rare Earth Elements, Germanium, PGMs and Red Mud/Gallium Advances Multiple Commercial Opportunities

(ASX: MTM; OTCQX: MTMCF) Metallium Limited reported results from a series of tests to demonstrate application of its proprietary Flash Joule Heating (FJH) technology across multiple strategic metal feedstocks. The testing delivered significant results across rare earth ores, germanium-bearing industrial wastes, spent catalytic converters, and red mud. The tests demonstrated the ability of FJH-based processing to selectively recover, separate and/or concentrate valuable materials from complex feedstocks. Metallium continues to work separately with Indium Corporation and other major semiconductor industry suppliers to progress strategic sourcing initiatives for gallium, germanium, indium and other technology metal-bearing secondary raw materials for future processing. The successful testing results included converting raw, unbeneficiated REE ore containing approximately 12% TREO directly into a more than 83 wt% mixed REE chloride product, achieving more than 4x enrichment of NdPr in an initial unoptimized test. Germanium was enriched by up to 280x from zinc smelter waste, 240x from semiconductor manufacturing waste and 35x from defense-related industrial waste. Testing on red mud/gallium removed approximately 99% of iron and 94% of silicon while retaining approximately 95% of aluminum, with gallium concentrated into a separate product stream.

Metallium Announces Successful Completion of First Multi-Unit Flash Joule Heating Operations

(ASX: MTM) Metallium Limited announced it has successfully completed operating three Flash Joule heating Units concurrently at its technology development facility in Texas. The campaign achieved 83% availability and approximately 100% utilization during active operation, exceeding internal expectations for a first multi-unit commissioning campaign. The operating rates demonstrated were broadly consistent with processing reactor feed volumes derived from several tons per day of incoming commercial feedstocks following preprocessing and upgrading. Metallium Ltd. is pioneering a low-carbon, high-efficiency approach to recovering critical and precious metals from mineral concentrates and high-grade waste streams. The company's patented Flash Joule Heating (FJH) technology enables the extraction of high-value materials, including gallium, germanium, antimony, rare earth elements, and gold from feedstocks such as refinery scrap, e-waste and monazite. The company's first commercial site is located in Texas and is operated by the company's wholly owned subsidiary, Flash Metals USA, Inc. The company projects that the scalability of the platform and the suitability of the FJH architecture for larger-scale deployment is highly encouraging.

Metallium Awarded U.S. Million Dollar Grant from Department of War for Phase II Project to Recovery Gallium and Germanium from Electronic Waste

Metallium Limited (ASX: MTM, OTCQX: MTMCF) announced that its U.S.-based affiliate, Flash Metals Texas, Inc., has been awarded a million-dollar Phase II Small Business Innovation Research (SBIR) contract with the U.S. Department of War through the Defense Logistics Agency. This award follows the successful completion of Phase I, where Metallium and Flash Metals Texas demonstrated their proprietary ability to recover gallium from semiconductor and electronic waste streams using Flash Joule Heating Technology. All technical milestones in Phase I were achieved or exceeded, and the program was delivered in approximately half the standard timeframe. The Phase II program will focus on the extraction of both gallium and germanium from electronic waste streams, with activities centered at the Company's Texas Technology Campus. The 12-month project is expected to culminate with process readiness beyond pilot demonstration, positioning Flash Metals Texas for a potential Phase III award and broader commercial deployment. The technology aims to recover high-value metals and strengthen U.S. defense and semiconductor supply chains. The announcement highlights the critical importance of gallium and germanium, which are designated as essential materials by the U.S. government.

Metallium Successfully Completes First 12-Hour Continuous Single Flash Joule Heating Reactor Run

Metallium Limited (ASX: MTM; OTCQX: MTMCF) announced the successful completion of a 12-hour continuous Flash Joule Heating (FJH) reactor campaign at its Gator Point Technology Campus in Chambers County, Texas. The campaign validated stable, repeatable, and controlled operation of the company's 'Generation-1' automation systems and operating procedures. This milestone is a key prerequisite for Metallium's planned multi-reactor deployment at its first commercial facility in the United States. The process supports the company's low-carbon, high-efficiency approach to recovering critical and precious metals from e-Waste. The results are said to materially reduce technical and operational scale-up risks as the company advances toward simultaneous operation of multiple FJH reactors.

Metallium Announces Contracts for 50% of Stage-1 Printed Circuit Board Feedstock Target

Metallium Limited (ASX: MTM; OTCQX: MT.) announced binding contracts covering half of its 8,000 ton per annum Stage 1 throughput target of printed circuit board (PCB) feedstock for its U.S. operations. This includes a previously announced binding supply agreement with Glencore Ltd. for up to 2,400 tpa of e-scrap and feedstock, as well as additional agreements with other industry participants. The company is targeting a contracted base of approximately 70% of Stage 1, with the remaining 30% exposed to spot market procurement. Metallium is ramping up commissioning at its Texas Technology Campus, including multi-reactor FHJ installation and testing. The company is pioneering a low-carbon, high-efficiency approach to recovering critical and precious metals from mineral concentrates and high-grade waste streams.