Sovereign Metals is conducting infill drilling to upgrade the first 7-8 years of the mineral resource from probable to proven category, which would increase bankability of the project and provide lenders greater confidence in the resource estimate underlying the DFS.

Sovereign Metals' listing on OTC Markets (QX) in the last month is part of a strategy to build out its North American shareholder base while maintaining ASX listing, recognizing that geographic diversification of shareholders improves capital raising flexibility.