Today, Metallium Limited (“Metallium” or the “Company”) (ASX: MTM; OTCQX: MTMCF; OTCQX ADR: MTLMY) is pleased to announce that Flash Metals Texas Inc., its U.S.-based affiliate, has been awarded a US$1 million Phase II Small Business Innovation Research (SBIR) contract with the U.S. Department of War (DoW) through the Defense Logistics Agency (DLA).

The Phase II award follows the successful completion of Phase I, which demonstrated the ability of Metallium and Flash Metals Texas’ proprietary Flash Joule Heating electrothermal chlorination technology to recover gallium from semiconductor and electronic waste streams. All technical milestones were achieved or exceeded, and the program was delivered in approximately half the standard timeframe.

The Phase II program will expand this work to focus on the extraction of both gallium and germanium from electronic waste streams, with activities centered at the Company’s Texas Technology Campus. The program will advance the technology toward pilot-scale deployment, including optimisation of operating conditions, improvement of recovery efficiency, and demonstration of repeatable, industrially relevant operation.

“The SBIR process is a highly competitive initiative, and it encourages Flash Metals, a U.S. small business, to compete and demonstrate our team’s and technology’s capacities in this crowded landscape,” said Metallium’s and Flash Metals Texas’ President of U.S. Operations, Steve Ragiel. “This new contract sets us apart and validates our approach and our commitment to supporting national security priorities.”

A twelve-month project will culminate with process readiness that is appropriate beyond pilot demonstration, placing Flash Metals Texas to potentially work on a Phase III award, and on broader commercial deployment. This timeline also meets and integrates into Metallium’s and Flash Metals Texas’s operationalization of the Gator Point Technology Campus in Chambers County, Texas.

Strategic Importance

Gallium and germanium are designated by the United States government as critical materials essential for defence systems, semiconductors and advanced communications technologies. These materials underpin applications including radar systems, satellite electronics, missile guidance systems, advanced semiconductors, and 5G and optical fiber infrastructure.

Germanium supply is structurally constrained, with greater than 50% net import reliance in the United States and domestic consumption of approximately 30,000 kg per year. Recent supply disruptions have further highlighted this vulnerability, with U.S. imports of germanium metal declining by approximately 67% in 2025.

Gallium supply faces similar structural challenges, with the United States fully dependent on imports and global production highly concentrated.

This concentration has driven increased focus from the U.S. Department of War and allied governments to establish domestic supply pathways for gallium, germanium, and related semiconductor materials. At the same time, electronic waste streams represent a growing and largely untapped domestic source of both critical and precious metals, including semiconductor-related elements such as gallium and germanium.

Metallium and Flash Metals Texas’ Flash Joule Heating technology provides a pathway to recover gallium and germanium from electronic waste streams alongside high-value metals including gold, silver, tin, palladium, and copper. By extracting these materials from existing waste, the technology has the potential to diversify supply sources, improve overall feedstock economics, reduce reliance on concentrated primary production, and strengthen U.S. defence and semiconductor supply chains.

Next Steps

The Phase II program will support advancement toward pilot-scale deployment at the Texas Technology Campus and continued engagement with U.S. government and industry partners for future development and deployment opportunities.