Everlast Minerals Kurigram Licence Expands Bangladesh Mineral Sands Portfolio

Strategic Location and Infrastructure Advantages

The Everlast Minerals Kurigram licence is strategically positioned approximately 350 kilometres from Dhaka, Bangladesh's capital, with excellent transport connectivity through existing highways and railways servicing the exploration area. The project spans an impressive 17 kilometres in length and 5 kilometres in width, covering the sand bars and river sand bed of the Brahmaputra-Jamuna River Channel.

Key Project Specifications:

• Total Area: ~4,000 hectares
• Location: Kurigram District, northern Bangladesh
• Dimensions: 17km x 5km
• Target Area: Brahmaputra-Jamuna River Channel sand deposits
• Transport Access: Highway and railway connectivity to Dhaka

The river channel location is particularly significant for mineral sands exploration, as these geological formations often concentrate heavy minerals through natural sorting processes over thousands of years.

Government Relations Strengthen EV8's Position

Executive Chairman Paul Qian emphasised the strategic importance of this development:

Management Commentary
"EV8 is delighted to have secured the Kurigram EL – a key pillar in further advancing our Bangladesh mineral sands development strategy. The granting of the licence underscores the ongoing confidence of the Bangladesh Government and the Bureau of Mineral Development in our professional management team."

The formal signing ceremony was attended by senior officials from both the Bangladesh government and Everlast Minerals, including:

Government Representatives:

• Director Mr. Mohammad Rabiul Faysal (Deputy Secretary)
• Mr. Md. Anwarul Habib, Director General (Joint Secretary)
• Director Mr. Sabbir Ahmed

Everlast Representatives:

• Managing Director Mr. Delwar Titu
• General Manager Mr. Md. Baharul Alam Biswas
• Senior Consultant Mr. Khairul Islam
• Advisor Brigadier General Monzurul Alam (Retd)

This high-level government engagement reflects the strategic importance Bangladesh places on responsible mineral development and EV8's established track record in the region. Furthermore, these government relationships provide crucial support for ongoing operations.

Understanding Mineral Sands: A Lucrative Commodity Market

Mineral sands are naturally occurring concentrations of heavy minerals found in coastal and riverine environments. These deposits contain valuable minerals including ilmenite, rutile, zircon, and leucoxene – essential components for titanium dioxide production, ceramics, and specialised industrial applications.

The global mineral sands market has experienced strong demand growth, particularly from:

• Titanium dioxide production (paint, plastics, paper)
• Zircon applications (ceramics, foundry casting)
• Specialised industrial uses (welding electrodes, aerospace components)

Bangladesh's river systems, particularly the Brahmaputra-Jamuna channel, represent ideal geological environments for mineral sands concentration due to the natural sorting action of flowing water over geological time periods. These river systems transport sediments from the Himalayan mountains, creating concentrated heavy mineral deposits through natural processes that separate denser minerals from lighter materials.

The economic significance of mineral sands lies in their multiple high-value applications across industrial sectors, with titanium dioxide representing the largest market segment by value. Global demand for these materials continues to grow as emerging economies expand their manufacturing capabilities and developed markets maintain steady consumption levels.

However, commodity market volatility remains a consideration for long-term planning in the sector.

Systematic Exploration Strategy Ahead

EV8's exploration approach for the Everlast Minerals Kurigram licence will involve a comprehensive and systematic exploration campaign combining multiple technical disciplines:

Planned Exploration Activities:

1. Geological Mapping – Detailed surface and subsurface geological assessment
2. Geophysical Surveys – Advanced surveying techniques to identify mineral concentrations
3. Systematic Sampling – Strategic sampling programs across the 4,000-hectare area
4. Resource Evaluation – Assessment of economically extractable mineral sands deposits

The company will leverage its existing technical expertise and knowledge from the Gaibandha Project to optimise exploration efforts and maximise discovery potential. This systematic approach follows proven methodologies that have delivered results in similar geological environments globally.

The exploration program will target the Brahmaputra-Jamuna River Channel's sand bars and river sand bed, where natural processes are expected to have concentrated heavy minerals over extended periods. The 17-kilometre strike length provides significant exploration upside across multiple target areas.

In addition, the team will implement advanced drilling techniques to maximise the effectiveness of the exploration campaign.

Building on Gaibandha Success

The Kurigram licence acquisition complements EV8's flagship Gaibandha Mineral Sands Project, where the company is currently conducting:

• Metallurgical testing programs
• Pilot-scale processing operations
• Resource definition activities

This multi-project approach provides several strategic advantages:

The proximity between projects enables efficient resource allocation and knowledge transfer, potentially accelerating development timelines across EV8's Bangladesh portfolio. The company's established operational presence in Bangladesh provides a foundation for efficient mobilisation of exploration crews and equipment between projects.

Consequently, the project development timeline may benefit significantly from these operational synergies.

Investment Thesis: Scale and Strategic Positioning

The Everlast Minerals Kurigram licence acquisition significantly strengthens EV8's investment proposition through several key factors:

Operational Scale Enhancement

The 4,000-hectare licence area provides substantial exploration upside, potentially increasing EV8's resource inventory and extending operational life. Combined with the existing Gaibandha Project and Pabna exploration application, EV8 is building a significant mineral sands platform in Bangladesh.

Government Support Validation

The licence approval demonstrates continued government confidence in EV8's operational capabilities and commitment to responsible development. This relationship foundation is crucial for long-term operational success in international jurisdictions.

Strategic Market Position

Bangladesh's emerging mineral sands sector offers first-mover advantages for established operators like EV8. The company's growing portfolio positions it as a leading mineral sands developer in this underexplored region.

Technical Expertise Leverage

EV8's systematic approach to exploration, combined with proven methodologies from similar projects globally, provides confidence in successful resource identification and development potential.

For instance, their approach to resource estimation follows industry best practices established in similar geological environments worldwide.

Key Investment Highlights

• 4,000-hectare exploration licence covering prospective Brahmaputra-Jamuna River Channel deposits
• Government-backed operations with strong regulatory relationships in Bangladesh
• Multi-project portfolio providing operational synergies and risk diversification
• Systematic exploration approach leveraging proven technical methodologies

Market Context and Commodity Outlook

The mineral sands sector has demonstrated resilience across various economic cycles, supported by consistent industrial demand for titanium dioxide and zircon products. Bangladesh's geological setting offers significant advantages for mineral sands development, with extensive river systems that have concentrated heavy minerals through natural processes.

Global supply constraints in established mineral sands regions have created opportunities for new producers to enter the market. EV8's strategic positioning in Bangladesh provides access to these opportunities whilst benefiting from supportive government policies and established infrastructure connections to major markets.

Furthermore, market fundamentals suggest continued strength in the mineral sands sector driven by industrial demand growth.

Financial Implications and Development Pathway

The Everlast Minerals Kurigram licence represents a material expansion of EV8's exploration asset base, with the potential to significantly increase the company's resource inventory. The systematic exploration approach planned for the project aims to define economically extractable mineral sands deposits that could support long-term production operations.

Key Development Milestones:

• Exploration program commencement following detailed planning
• Resource estimation activities upon successful identification of mineralisation
• Feasibility assessment if exploration results support economic development
• Processing integration with existing Gaibandha Project infrastructure

The proximity to existing operations provides opportunities for shared infrastructure and processing capabilities, potentially improving project economics and reducing development timelines. This integrated approach to portfolio development represents a key strategic advantage for EV8's Bangladesh operations.

However, project financing requirements will need careful consideration as development progresses through various phases.

Environmental and Social Considerations

The development of the Everlast Minerals Kurigram licence will require careful attention to environmental and social factors. River channel mining presents unique environmental challenges that must be addressed through comprehensive planning and stakeholder engagement.

EV8's approach emphasises responsible development practices that align with international standards whilst respecting local communities and environmental systems. The company's established presence in Bangladesh provides valuable experience in navigating regulatory requirements and community relations.

In addition, environmental monitoring protocols will be essential throughout the exploration and potential development phases to ensure sustainable operations.

Why Investors Should Monitor Everlast Minerals

Everlast Minerals presents a compelling opportunity for investors seeking exposure to the mineral sands sector through a strategically positioned, government-supported operation in Bangladesh. The company's systematic approach to building a substantial resource base, combined with strong local relationships and proven technical capabilities, creates multiple pathways to potential value creation.

Key Investment Catalysts:

• Resource definition results from systematic exploration programs
• Metallurgical testing outcomes from ongoing Gaibandha operations
• Pilot-scale processing results demonstrating commercial viability
• Additional licence acquisitions expanding the Bangladesh portfolio

The Everlast Minerals Kurigram licence acquisition marks another milestone in EV8's strategic development, providing the operational scale and resource diversification essential for building a substantial mineral sands business in this emerging market. With government support, proven technical capabilities, and systematic exploration programs planned, EV8 continues to advance its position as a leading mineral sands developer in Bangladesh's underexplored but highly prospective jurisdiction.

Consequently, investor updates will be crucial for monitoring progress across these multiple development fronts as the company executes its comprehensive Bangladesh strategy.

Want to Capitalise on EV8's Bangladesh Expansion Strategy?

With the Kurigram licence adding 4,000 hectares to Everlast Minerals' exploration portfolio and strengthening government relationships in Bangladesh, EV8 is positioning itself as a leading mineral sands developer in this underexplored jurisdiction. The systematic exploration program ahead, combined with operational synergies from the existing Gaibandha Project, presents multiple catalysts for potential value creation. To discover how EV8's multi-project approach and proven technical expertise could unlock significant shareholder value, visit www.everlastminerals.com for comprehensive project details, management presentations, and the latest development updates.