Announcement • Jun 25
Victory Metals Limited Receives AUD 350,000 Funding From Resources Technology And Critical Minerals Trailblazer Victory Metals Limited had been awarded AUD 350,000 in cash funding from the Resources Technology and Critical Minerals (RTCM) Trailblazer to support the Company’s rare earth processing research and development program over the next two years. The RTCM Trailblazer is led by Curtin University, in partnership with The University of Queensland and James Cook University and is supported by the Australian Government’s Department of Education Trailblazer Universities Program. Over the two-year term, the funding will embed dedicated full-time researchers at Curtin University working alongside Victory’s technical team to further develop and optimise the Company’s rare earth processing flowsheet and the metallurgical work that underpins its 100% owned North Stanmore Heavy Rare Earth Project near Cue in Western Australia. The program is focused on strengthening the recovery and separation of the high value heavy rare earth elements, including dysprosium, terbium and yttrium, that distinguish North Stanmore as one of Australia’s largest heavy rare earth-enriched regolith deposits. Importantly, while the program runs over two years, it is fully integrated with Victory’s broader development pathway and is designed to facilitate, not delay the Company’s move into commercial production. Victory has secured AUD 350,000 in cash funding from the Resources Technology and Critical Minerals (RTCM) Trailblazer, the Federal Government backed program led by Curtin University, to support the Company’s rare earth processing research and development over the next two years. The funding is non-dilutive and leverages Victory’s existing commitments to Curtin University and to its recently commissioned rare earths pilot plant in Burswood, Perth. The grant will fund dedicated full-time research staff at Curtin working alongside Victory to advance and help commercialise its heavy rare earth processing technology. It follows the recent commissioning of Victory’s North Stanmore rare earths pilot plant in Perth, officially opened by the Honourable Madeleine King MP, Federal Minister for Resources. The award deepens Victory’s partnership with Curtin and the Federal Government as Australia builds a secure, Western-aligned rare earths supply chain. The Resources Technology and Critical Minerals (RTCM) Trailblazer is led by Curtin University in partnership with The University of Queensland and James Cook University, together with more than 50 industry partners across Australia. It is supported by the Australian Government’s Trailblazer Universities Program, administered by the Department of Education, and is one of six university-led Trailblazers established under that program. The RTCM Trailblazer is designed to transform the way industry, universities and researchers work together, building new research capabilities and driving the commercialisation of university research across the resources technology and critical minerals sector. By co-funding industry-led projects alongside its university and industry partners, it accelerates technology readiness, de-risks the pathway from research to commercial outcomes, and helps build sovereign capability in the critical minerals essential to Australia’s economic and strategic future. New Risk • Oct 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$152.4m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (AU$140k revenue, or US$92k). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$152.4m market cap, or US$99.8m). Announcement • Sep 18
Victory Metals Limited, Annual General Meeting, Nov 19, 2025 Victory Metals Limited, Annual General Meeting, Nov 19, 2025. 
