Impact Minerals Limited Annual Report 2021

CHAIRMAN’S LETTER Impact Minerals Ltd Annual Report 2021 4 The year to 30 th June 2021 has been yet another extremely active and encouraging one for your Company. The key highlights, which are detailed in the attached Review of Operations, were achieved in difficult circumstances as the effects of the COVID lockdowns caused disruption to Impact’s planned programmes. The company’s Managing Director Dr Mike Jones and his team of two geologists, Exploration Manager James Cumming and geologist George Martin Johnson worked tirelessly during the year to continue to organise major drill programmes in New South Wales as well as progress Impact’s earlier stage projects in Western Australia. They have delivered breakthrough results at a number of projects which has created a platform for a very exciting 2022 and I thank them for their efforts. A major drill programme was completed at the company’s flagship Broken Hill nickel-copper- platinum group metal project in New South Wales. Significant results were returned from all three prospects drilled, Red Hill, Platinum Springs and in particular at the Little Broken Hill Gabbro. This work also led to the discovery of a geochemical ratio that can be calculated from measurements made by a hand held XRF instrument at the drill site and which is a good predictor of the grade of platinum group metals (PGMs). This is a major breakthrough for Impact as it allows a quick assessment of the likely grade of the PGM’s as the drill rig is operating rather than having to wait for several months for assays to be returned from the laboratory. The ratio will play a big part in follow up drill programmes. In Western Australia, a significant new gold target, Doonia, was acquired in a joint venture east of Kambalda in the Eastern Goldfields. This is a compelling walk up drill target that will be drilled in late 2021. In addition 17 priority targets were identified for nickel-copper-PGM at the Arkun project 150 km east of the major PGM discovery at Julimar made by Chalice Mining NL. This discovery has shown the south west of Western Australia to be an emerging mineral province for a range of commodities and Impact is now a major ground holder in this region. More details on the Company’s activities and projects are set out in the Review of Operations. We are looking forward to an exciting 2022 with further drill programmes on our key projects. Peter Unsworth Chariman