FYI Resources Ltd is pleased to announce the commencement by the Company in establishing a quotation on the 'over the counter' (OTC) market in the USA

FYI Resources Ltd. (ASX: FYI) (FYI or the Company) has commenced the process to seek quotation on the OTCQX as a secondary listing as a result of significant interest from North American investors who are active investors in the electric vehicle (EV) sector and power storage industries. The OTCQX is the highest tier in the OTC markets run by OTC Markets Group, a platform which offers an electronic quotation and trading service that will enhance the visibility and liquidity of FYI securities and accessibility to potential investors. The investor interest includes equity funds, ESG funds and family offices. The interest the Company has received from North American investors is a direct result of:

- FYI's progress on the innovative and fully integrated high purity alumina (HPA) strategy

- the Company attracting high calibre corporate and counter party interest

- The demonstrated value outlined in the Company's published DFS (ASX 11 March 2020)

- Leverage that HPA offers in the burgeoning EV and power storage markets

- Potential partnerships and opportunities in North America

FYI will maintain its primary listing on the ASX, with the OTCQX as a secondary or compliance listing, which trades the same class of ordinary share to the FYI's ASX traded stock. The FYI OTCQX quoted shares or securities will be traded "over-the-counter" via a dealer network as opposed to trading on a centralised exchange. FYI's shares will not be a synthetic or derivative stock.

The increasing investor interest in the US for the EV sector and its supply chain commodities, including HPA, appears to be stimulated, in part, by President Biden announcing plans to replace the US Government's fleet of 645,000 vehicles with EVs* as part of the Democrat Party's sweeping $1.9 trillion post COVID stimulus funding and investment into supporting US industries including battery related development**.

Frankfurt Stock Exchange

FYI already trades on OTC markets on the Frankfurt Stock Exchange under code "SDL.F" and the Munich Stock Exchange under the code "SDL.M".

The Frankfurt and Munich listings have already provided valuable exposure for the Company to European investors. FYI has observed increased trading volumes through these platforms over the past several months with overall European based trading tripling.

The Frankfurt listing assists FYI's investor reach and increases its exposure to European investors. The Frankfurt Stock Exchange is the world's third largest exchange-trading market, behind the New York Stock Exchange and NASDAQ. More than 50% of the total trades on the Frankfurt Stock Exchange are conducted through investors in countries outside of Germany.

*Paul A. Eisenstein, NBC News contributor - January 27, 2021
**Siladitya Ray & Andrew Solender, Forbes Staff - February 5, 2021

For more information please contact:

Roland Hill Managing Director Tel: +61 414 666 178 roland.hill@fyiresources.com.au

Simon Hinsley Investor & Media Relations Tel: 0401 809 653 simon@nwrcommunications.com.au

About FYI Resources Limited
HPA is increasingly becoming the primary sought-after input material for certain high-tech products principally for its unique properties, characteristics and chemical properties that address that applications high specification requirements such as LED's and other sapphire glass products.

The longer-term driver for HPA, with forecasts of >17% CAGR*, is the outlook for the burgeoning electric vehicle and static energy storage markets where the primary function is in the use as a separator material between the anode and cathode in batteries to increase power, functionality and safety of the battery cells.

FYI's is positioning itself to be a significant producer of 4N and 5N HPA in the rapidly developing high-tech product markets.

The foundation of the HPA strategy the Company's moderate temperature, atmospheric pressure innovative process flowsheet. The strategy's quality attributes combine resulting in world class HPA project potential.

* CRU HPA Industry Report 2021

Cautionary Statements

Substance of DFS
The DFS referred to in this announcement is a study of the potential viability of the Cadoux Kaolin Project. It has been undertaken to understand the technical and economic viability of the Project.

The DFS assumes as a 25-year Project life based only on Proved and Probable Ore Reserves (100%).

The DFS is based on the material assumptions outlined in the announcement made 11 March 2020 and the appended summary of the DFS. These include assumptions about the availability of funding. While the Company considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by this DFS will be achieved.

To achieve the range of outcomes indicated in the DFS, funding in the order of A$189 million will likely be required. Investors should note that there is no certainty that the Company will be able to raise the amount of funding when needed. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of the Company's existing shares.

It is also possible that the Company could pursue other "value realisation" strategies such as a sale, partial sale or joint venture of the Project. If it does, this could materially reduce the Company's proportionate ownership of the Project.

General and forward-looking statements

The contents of this announcement reflect various technical and economic conditions, assumptions and contingencies which are based on interpretations of current market conditions at the time of writing. Given the nature of the resources industry, these conditions can change significantly and without notice over relatively short periods of time. Consequently, actual results may vary from those detailed in this announcement.

Some statements in this announcement regarding estimates or future events are forward-looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Such forward-looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. When used in this announcement, words such as, but are not limited to, "could", "planned", "estimated", "expect", "intend", "may", "potential", "should", "projected", "scheduled", "anticipates", "believes", "predict", "foresee", "proposed", "aim", "target", "opportunity", "nominal", "conceptual" and similar expressions are forward-looking statements.

Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.

The contents of this release are also subject to significant risks and uncertainties that include but are not limited those inherent in mine development and production, geological, mining, metallurgical and processing technical problems, the inability to obtain and maintain mine licences, permits and other regulatory approvals required in connection with mining and processing operations, competition for among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of projects and acquisitions, changes in commodity prices and exchange rates, currency and interest rate fluctuations and other adverse economic conditions, the potential inability to market and sell products, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, environmental, native title, heritage, taxation and other legal problems, the potential inability to secure adequate financing and management's potential inability to anticipate and manage the foregoing factors and risks.

All persons should consider seeking appropriate professional legal, financial and taxation advice in reviewing this announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of this announcement nor any information contained in this announcement or subsequently communicated to any person in connection with this announcement is, or should be taken as, constituting the giving of investment or financial advice to any person. This announcement does not take into account the individual investment objective, financial or tax situation or particular needs of any person.

Competent Persons Statements

Ore Reserves
The information in this report that relates to Ore Reserves is based on information compiled by Mr. Steve Craig, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Steve Craig is a full-time employee of Orelogy Consulting Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". The information is extracted from the Ore Reserve announcement released 29 October 2018 and 11 March 2020 and is available to view on the Company's website at www.fyiresources.com.au .

Mineral Resources
The information in this report that relates to Mineral Resources is based on information compiled by Mr Grant Louw, under the direction and supervision of Dr Andrew Scogings, who are both full-time employees of CSA Global. Dr Scogings is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. He is a Registered Professional Geologist in Industrial Minerals. Dr Scogings has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the "Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves". The information is extracted from the PFS announcement dated 25 September 2018 and is available to view on the Company's website at www.fyiresources.com.au .

Metallurgy
The information in this report that relates to metallurgy and metallurgical test work is based on information reviewed and compiled by Mr Daryl Evans, a Competent Person who is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Evans is an employee of Independent Metallurgical Operations Pty Ltd, and is a contractor to FYI. Mr Evans has sufficient experience that is relevant to this style of processing and type of deposit under consideration, and to the activity that he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves". Announcements in respect to metallurgical results are available to view on the Company's website at www.fyiresources.com.au.