Accelerate Resources Limited – Woodie Woodie North Manganese Demonstrates Up to 48% Premium Mn Concentrate Potential

Accelerate limited resources (ASX Code: AX8) is pleased to present the historical enrichment test results of the Woodie Woodie North Manganese Project in Western Australia.

The enrichment test work was carried out by Nagrom Laboratories between September and December 2010. Shaw River Manganese Limited originally published these results on 01/04/2011 (ASX: SRR) and have been reviewed and reinterpreted by Accelerate Resources. The results were encouraging, demonstrating manganese product qualities of up to 48% Mn.

Test work has indicated that industry standard low cost conventional gravity separation processes can be used to produce economical grade manganese deliverable as a premium product in the market. The tests were preliminary in nature and form the baseline for product optimization in future programs.

General director Yaxi Zhan commented on the significance of this critical historical review “This review of preliminary enrichment testing further supports the potential of the Woodie Woodie North Project to produce high quality manganese concentrates, which are currently in high demand in the steel and battery markets. We are excited about this historic quality work and look forward to the start of our first major drill program in the months ahead.

Woodie Woodie North Manganese Project

The Woodie Woodie North Manganese Project contains two main prospects, Barramine (E45/5978, E45/5979) and Braeside West (E45/5854). Located 120 km east of Marble Bar, 250 km from Port Hedland and approximately 70 km north of Woodie Woodie manganese mineit is close to main roads, rail gas pipelines and port infrastructure

The Braeside West concession (E45/5854) covers 139 km2 and has undergone several phases of limited historical exploration, including geological mapping, rock chip sampling, VTEM geophysics and drilling. Recent historical data collection has identified several manganese targets throughout the building.

The Barramine area covers an area of ​​101 km2, with prior exploration identifying widespread manganese occurrences in a geological setting similar to known manganese deposits elsewhere in the East Pilbara manganese province, particularly the Woodie Woodie manganese mine. These manganese deposits are located along the contact between the Carawine dolomite and the Pinjian chert breccia, with more intense and larger-scale mineralization associated with major faulting and shearing. At Barramine, a number of these zones of intense manganese mineralization have been identified through rock chip sampling, soil sampling, mapping and exploration drilling, which will form the basis of more detailed exploration work.

The Accelerate Critical Item Strategy

Manganese is an essential element used in the production of steel. The steel industry is poised to continue growing, providing a stable source of manganese demand. A new demand comes from clean energy applications. High purity manganese (HPM) is used as a cheaper substitute for cobalt in nickel-cobalt-manganese (NCM) battery cathodes. Manganese is increasingly a critical link in the lithium-ion battery supply chain and has been added to the Strategic Minerals store with cobalt, chromium and molybdenum. There is believed to be a high probability of a supply disruption from South African production and the closure of the dominant Groote Eylandt manganese operations in the North territory of Australia.

Contact:

Yaxi Zhan

Tel: +61 8 6248 9663

Email: [email protected]

Web: www.AX8.com.au

Forward-looking statement

The statements contained in this press release, in particular those relating to possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of Accelerate limited resources, are or may be forward-looking statements. These statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.