EcoGraf Limited Reports 127% Increase in Epanko Mineral Resource, Cementing Its Status as Africa's Largest Graphite Development

EcoGraf Limited announced a significant 127% increase in the Mineral Resource Estimate (MRE) for its Epanko Graphite Project in Tanzania, expanding to 290.8Mt at 7.2% Total Graphitic Carbon (TGC), reinforcing its position as Africa's largest development-ready graphite resource. This uplift follows a successful 2023 drilling and trenching program, yielding high-grade assay results including a record of 43m at 20.8% TGC.

Key highlights from the announcement include a 39% surge in Measured + Indicated tonnes from the previous estimate, facilitating the project's expansion to potentially produce up to 300,000tpa of graphite. The findings underscore the deposit's high-grade nature and continuity, with noteworthy assay results such as 37m at 11.5% TGC and 45m at 13.0% TGC.

The enhanced MRE strengthens plans for production expansion and affirms Epanko’s status as a critical player in the global graphite market, especially given the burgeoning demand driven by the lithium-ion battery sector. Moreover, the project's development is backed by significant milestones like securing a senior debt facility of up to US$105 million from KfW IPEX-Bank.

Extensive evaluation has demonstrated that Tanzanian graphite, with its unique geology, delivers superior battery anode material, indicating Epanko’s potential to become a leading supplier of high-quality graphite for battery and advanced manufacturing markets globally.