Sunrise Energy Metals Ltd SREMF

RE:Get ready for takeoff

[reeJoey]

Here is the announcement about partnering: 4 June 2019 Clean TeQ commences a partnering process for its wholly-owned Sunrise Battery Materials Complex MELBOURNE, Australia Clean TeQ Holdings Limited (Clean TeQ or Company) (ASX/TSX:CLQ; OTCQX:CTEQF) today confirms that it has commenced a partnering process for its wholly-owned Sunrise nickel, cobalt and scandium project located in central New South Wales (Sunrise Battery Materials Complex or Sunrise). Todays announcement follows numerous inbound enquiries from a range of parties in the electric vehicle supply chain in relation to both project level ownership, long-term offtake and other financing arrangements. Following preliminary discussions with a range of parties, Macquarie Capital has been appointed to run a partnering process for Clean TeQ to consider divesting an interest of up to 50% in the Sunrise Battery Materials Complex, in combination with long-term offtake. Sunrise is a globally significant nickel-cobalt-scandium resource with existing Ore Reserves calculated in accordance with JORC and NI 43-101 that support a 40-plus year mine life and a first quartile cost position, with life of mine average C1 cash costs of negative US$1.46 / lb Ni (after by-product credits).1 Once in production, Sunrise will be one of the worlds largest integrated suppliers of high purity battery grade nickel sulphate and cobalt sulphate, the key raw materials in the production of cathodes for lithium-ion batteries. It will also provide one of the largest and most secure sources of cobalt supply outside of Africa. Mr Sam Riggall, Chief Executive Officer of Clean TeQ, said: Clean TeQ is delighted to be working with Macquarie Capital to finalise the funding for the Sunrise Battery Materials Complex. The Board and major shareholders of Clean TeQ are highly supportive of finding the right partner, be that a strategic customer or an operating miner, to develop this globally strategic asset. With approximately A$150 million invested by Clean TeQ in the project to date, a solid foundation has been built for the successful and rapid delivery of this project. 1) As detailed in the Sunrise Definitive Feasibility Study (for full details see the Clean TeQ announcement of 25 June 2018) and Sunrise Nickel Cobalt Project, New South Wales, Australia NI 43-101 Technical Report, with an effective date of 25 June 2018 (announced on 7 August 2018) as filed on www.sedar.com.