Conditions Precedent Satisfied on the Theseus Copper Gold Project

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Summary

 Key conditions precedent completed 

1. Sandfire Resources Limited has waived its Right of First Refusal over Rimfire Pacific Mining’s Cowal Project tenement, EL8329 

2. Copper Search has paid Rimfire the $50k Option fee 

This paves the way for Copper Search to commence an exclusive six-month option to purchase Rimfire Pacific Mining Limited’s (ASX: RIM) Cowal tenements. 

Project Highlights 

• The Company has secured a strategic 944km2 ground position in the Macquarie Arc – Lachlan Fold Belt, NSW 

• The Theseus Project is prospective for epi-thermal gold and Cu-Au porphyry deposits, and is located just 25km east of the operating Cowal Gold Mine in the southern Macquarie Arc of the Lachlan Fold Belt, NSW 

Historical Drilling Highlights 

20m @ 0.73 g/t Au from 6m, Hole ID TARRA61 
36m @ 0.43 g/t Au from 48m, Hole ID TARD84 
26m @ 0.35 g/t Au from 22m, Hole ID TARD86 
2m @ 2.75 g/t Au from 76m, Hole ID TARRA45 

We have been actively evaluating several opportunities across the Lachlan Fold Belt because the area meets several of our high-level selection criteria: a strong mining jurisdiction, proximity to operating mines, and demonstrated economic scale potential. So, we are excited to have secured this strong ground position in the area and can begin our rigorous due diligence process.

Drawing upon world-leading experts, like Professor Bruce Schaefer, to assist our exploration team is a real positive for investors. This technical expertise, which is rarely seen in the junior space, gives Copper Search a significant advantage.

From a corporate view, the deal’s structure also highlights how we execute our new strategy to develop a pipeline of drill targets. The low-cost option allows us the flexibility to secure an opportunity for our shareholders and leverage our world-class team to make a fully informed decision—either to proceed with drilling or to walk away—before deploying significant amounts of shareholder capital.

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