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15 July 2021 HIGHLIGHTS QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 30 JUNE 2021 Sheffield Resources LIMITED ASX Code : SFX Directors : Mr Bruce Griffin Executive Chairman Mr John Richards Non - Executive Director Mr Bruce McFadzean Non - Executive Director Mr Gordon Cowe Non - Executive Director Mr lan Macliver Non - Executive Director Registered Office : Level 2 , 41-47 Colin Street West Perth WA 6005 Share Registry : Link Market Services Level 12 , QV1 Building Thunderbird Mineral Sands Project ( Sheffield interest - 50 % ) • Zircon concentrate offtake agreements secured with three counterparties , accounting for 170,000 tonnes per annum for five years • • • Kimberley Mineral Sands ( KMS ) key management appointments completed Project financing arrangements with NAIF and commercial lenders progressed Engineering , design and commercial contract negotiations underway ahead of a planned Final Investment Decision Corporate Activities • Board restructuring with appointment of Mr Bruce Griffin as Executive Chairman and Mr John Richards as Lead Independent Non - Executive Director . Mr Bruce McFadzean transitioned to Non - Executive Director effective 1 July 2021 . • $ 6.5m in cash at quarter end ( unaudited ) with forecast expenditure of $ 0.6m in the forthcoming quarter . 122 ° E 0 50km PROJECT TENEMENTS 123 ° E 121 ° C WESTERN AUSTRALIA 250 St Georges Terrace Perth WA 6000 Capital Structure : Ordinary Shares : 346.1M 17 ° S Unlisted Options : 1.0M Unlisted Rights : 7.9M Market Capitalisation : A $ 116 million Cash Reserves : A $ 6.5 million ( as at 30 Jun 2021 ) Investor Relations : Bruce Griffin T : +61 8 6555 8777 E : info@sheffieldresources.com.au Mark Di Silvio T : +61 8 6555 8777 E : info@sheffieldresources.com.au 18 ° S O BROOME DAMPIER PENINSULA DAMPIER PROJECT DERBY THUNDERBIRD HMS PROJECT NIGHT TRAIN PROSPECT EAST DERBY PROJECT CANNING BASIN Figure 1 : Location of Thunderbird Mineral Sands Project