SOUTHERN PALLADIUM LIMITED - Environmental Authorisation No objections lodged

Environmental Authorisation – No objections lodged

Southern Palladium Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 646 391 899
ASX share code: SPD
JSE share code: SDL
ISIN AU0000220808
("Southern Palladium" or "the Company")


Environmental Authorisation – No objections lodged


Southern Palladium (ASX:SPD and JSE:SDL), 'Southern Palladium' or 'the Company') hereby advises
that in connection with the recent granting of Environmental Authorisation (EA) approval for a Mining
Right and related infrastructural development activities at the Bengwenyama platinum group metals
(PGM) project, the period within which interested and affected parties could object has now ended.

The Company confirms that no objections by interested and affected parties were lodged during the
period.

The Environmental Authorisation was granted by the Department of Mineral and Petroleum Resources
(DMPR) to SPD's 70% subsidiary, Miracle Upon Miracle Investments (refer ASX Announcement 20 May
2025), with reference to the National Environmental Management Act, 1998 (Act No. 107 of 1998).

The end of the Objection Period marks the successful completion of the EA approval process, which in
turn represents a key milestone for the award of a Mining Right to develop the Bengwenyama project.

Update on Optimised PFS

Southern Palladium is close to the completion of an optimised PFS at Bengwenyama. The updated
study proposes a two-stage development pathway with lower upfront capital costs than the earlier
PFS. Details of the PFS are expected to be announced in early July together with a works programme
for the delivery of a DFS (Definitive Feasibility Study).

For further information, please contact:

Johan Odendaal
Managing Director
Southern Palladium
Phone: +27 82 557 6088
Email: johan.odendaal@southernpalladium.com

2 July 2025


JSE Sponsor
Merchantec Capital

Media & investor relations inquiries: Sam Jacobs, Six Degrees Investor Relations: +61 423 755 909

Follow @SouthernPalladium on Twitter

Follow Southern Palladium on LinkedIn

Date: 02-07-2025 08:36:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.