Fenix Project > Mineral Reserves/Resources

Fenix Saprolite Reserves

Mineral Reserves	Tonnes (million)	%Ni	Contained Ni Tonnes
Proven	8.7	1.81	157,000
Probable	32.7	1.58	516,000
Proven and Probable	41.4	1.63	673,000

Fenix Resources (excluding proven and probable reserves)

Mineral Resources	Tonnes (million)	%Ni	%Co
Saprolite
Measured¹	8.7	1.79	*
Indicated¹	35.2	1.75	*
Measured & Indicated	43.9	1.76	*
Inferred²	70.3	1.59	*
Limonite³
Measured	51.7	1.11	0.11
Indicated	13.2	1.16	0.10
Measured & Indicated	64.9	1.12	0.10
Inferred	48.6	1.10	0.09

*not reported

1 Cut-off grade = 1.60% Ni Measured, 1.25% and 1.60% Indicated
2 Cut-off grade = 1.0%, 1.25% and 1.60% Ni for Inferred saprolite
3 Cut-off grade = 1.0% Ni + 3 times Co (Ni equivalent)