PYX Resources Ltd. announced its first export of ilmenite following receipt of an export licence in March 2024. A total of 1,040 tonnes of ilmenite at a grade of 45% TiO2 has been exported to a customer in Zhanjiang, Guangdong Province in the People's Republic of China. Further exports are anticipated in the near term and the Directors look forward to providing updates as these exports progress.

By way of background, PYX commenced production of rutile and ilmenite in January 2022 and June 2022 respectively and had stockpiled 9.8 kilo tonnes ("kt") of Titanium Dioxide feedstocks by the end of December 2023. This was made up of 9.6kt of ilmenite and 0.2kt of rutile. Approximately 2,000 tonnes of ilmenite was transported to the Port of Banjarmasin in South Kalimantan in July 2023 to accelerate the export process once PYX received an export licence for the ores.

The export licence was awarded in March 2024 and allows the Company to extract, produce, and export 20kt of rutile TiO2 = 90% and 50ktof ilmenite TiO2 = 45% each year. PYX is also authorised to export 24kt per annum of its primary product, premium zircon.