▪ Hyperion has increased its land position in west Tennessee by 4,794 acres to 10,905 acres, a 78% increase in landholding in this new critical mineral province.

▪ Hyperion’s successful land consolidation strategy has rapidly grown its landholdings by 419% from its initial 2,100 acre position in September 2020.

▪ Hyperion’s maiden mineral resource estimate (“MRE”) identified west Tennessee as a major province of untapped critical minerals in a low risk, low cost and low tax jurisdiction, with outstanding access to the key variable cost drivers for the operation of a mineral sands operation – electricity and labor.

▪ The new landholdings include mineral rights near the recently reported MRE of 431Mt @ 2.2% Total Heavy Minerals (“THM”), which established the Titan Project as the largest titanium, zircon and rare earth minerals project in the U.S., as well as regional greenfield exploration properties.

▪ The new landholdings provide a wide range of highly prospective targets to potentially drive resource growth and mine life at the Titan Project.

Hyperion Metals Limited (ASX: HYM) is pleased to advise that it has increased its land position at the Titan Critical Minerals Project in west Tennessee by 4,794 acres to 10,905 acres, a 78% increase in landholding. The Titan Project, already the largest titanium, zircon and rare earth minerals project in the USA, now has a larger platform of highly prospective land that will allow sustained growth in the mineral resource.

The new landholdings include mineral rights contiguous to the recently reported mineral resource estimate at the Titan Project of 431Mt @ 2.2% THM, with the Company continuing to make excellent progress on its successful land consolidation strategy, which has increased landholdings by 419% from its initial 2,100 acre position in September 2020.

Hyperion has also acquired land positions over greenfield locations up to 80 kilometers from the Titan Project, with planned exploration work on these properties to help guide future land consolidation.

Hyperion’s landholdings benefit from significant cost advantages due to the location and proximity to low cost, world-class infrastructure, expected to provide material cost and logistics advantages compared to projects located in more remote areas, as well as a large skilled local labor pool, low-cost power and gas and abundant transportation infrastructure.

These factors have contributed to a huge amount of recent investment in Tennessee, highlighting the region as a leading jurisdiction for business, including by major auto manufacturers Ford and Volkswagen, world leading battery producers LG Chem and SK Innovation, as well as major chemical organizations and end users including Chemours.

Anastasios (Taso) Arima, CEO and Managing Director said:

“We are very proud of the Hyperion team on the ground in Tennessee who have rapidly grown the Company’s land position by a factor of 5 since listing on the ASX in September 2020.

We are also highly appreciative of the deep support we have received from the local west Tennessee community that will help us to establish zero carbon, sustainable, critical material supply chains for advanced American industries.

The Titan Project has a compelling combination of scale, grade, high value critical mineral products, low-cost inputs, world class infrastructure and location, and we look forward to rapidly advancing this critical mineral project.”

Full details of the announcement can be found here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005413/en/