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HYPERION METALS ASX RELEASE | ASX : HYM 30 April 2021 MARCH 2021 QUARTERLY REPORT Hyperion Metals Limited ( ASX : HYM ) ( " Hyperion " or " Company " ) is pleased to present its March 2021 quarterly report . Highlights during and subsequent to the quarter were : Signed a research agreement and option for exclusive license to develop titanium metal powders using the breakthrough HAMR technology invented by Dr. Z. Zak Fang at the University of Utah . Hyperion's mission is to be a leading developer of zero carbon , sustainable , critical material supply chains for advanced American industries including space , aerospace , electric vehicles , and 3D printing ; Signed a Memorandum of Understanding with Energy Fuels Inc. ( NYSE : UUUU ) ( TSX : EFR ) for the potential supply of Monazite , a valuable rare earth - bearing mineral , from the Company's Titan Project to Energy Fuels ' White Mesa Mill in Utah . Energy Fuels is a leading U.S. producer of uranium and vanadium and an emerging player in the commercial rare earth business , with a market capitalization of approximately A $ 1 billion ; ▪ Completed Phase 1 and 2 drill programs at the Titan Project , which confirmed a newly defined critical mineral province in the U.S. with consistent grade and thickness of mineralization over approximately 3.6 km strike length . Assays from all holes of the Phase 1 and 2 drill programs returned thick zones of high- grade Total Heavy Minerals near surface ; Preliminary analysis of Valuable Heavy Minerals at the Titan Project indicates a highly valuable mineral assemblage consisting of 16.9 % Rutile , 14.5 % Zircon , 21.6 % Leucoxene , 1.8 % Monazite and 46 % other hi- titanium minerals ; ▪ Three ~ 500kg bulk samples were collected and sent for analysis and pilot scale mineral separation at Mineral Technologies in Starke , Florida , for flowsheet development to produce mineral products for customer discussions ; Appointed Mr. Anastasios ( Taso ) Arima as Managing Director of the Company . He has extensive experience in the development of resource projects and is the founder and a Director of Piedmont Lithium ; Appointed Mr. Todd Hannigan as Non - Executive Chairman of the Company , and Mr. Vaughn Taylor and Alastair Smith as Non - Executive Directors of the Company ; Expanded the Company's senior management team with the additions of a Community Relations Manager , a Financial Controller , and a Senior Project Manager ; ■ Increased the Company's land position at the Titan Project to 3,850 acres , adding to a large and contiguous package of surface and mineral rights ; Completed a A $ 3.6 million placement , with the Company's Chairman , Mr. Todd Hannigan , subscribing for A $ 1.0 million in the placement ; and ■ The Company changed its name to Hyperion Metals ( ASX : HYM ) . For further information , please contact : Anastasios ( Taso ) Arima , Managing Director +1 347 899 1522 info@hyperionmetals.us Dominic Allen , Corporate Development +61 468 544 888 info@hyperionmetals.us Hyperion Metals Ltd ABN : 84 618 935 372 hyperionmetals.us U.S. Head Office 32 N Main St Belmont NC 28012 More Information inquiry@hyperionmetals.us +1 704 461 8000 1