Drilling Commenced on High-Priority Copper Prospects

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Drill Rig on-site yesterday at the Paradise Dam Copper Prospect – drill hole 24PK13

SUMMARY

• A six-week drilling program has commenced at the Peake Project to test the high-priority Paradise Dam and Douglas Creek Prospects

• The first drill hole will test the Paradise Dam Prospect, which is defined by a strong chargeability anomaly of up to 50mV/V strength, 3km in strike length (>30mV/V)

• The second drill hole will test the Douglas Creek Prospect, which is a large-scale shallow classic IOCG-style coincident “Magnetics and Gravity” anomaly of 1400nT (mag) and 1.9mGal (gravity)

• The Company intends to release laboratory assay results progressively throughout the program as appropriate

• Regional exploration with a focus on gold prospectivity is underway in parallel with the current drilling

• Well-funded with over $4m cash after a recent capital raise of $2m. The two-hole drill program is budgeted to cost $0.8m

I am delighted that drilling has commenced to test these quality large-scale copper prospects that could add significant shareholder value.

The compelling drill targets have been developed from $2m of geophysics data acquisition, $4m of drill testing and iterative refining of the exploration model from our highly credentialled technical team from an original 40 geophysical anomalies over the last three years.
Duncan Chessell
CEO
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Learn more about the drilling program with the latest Investor Presentation.

WATCH CEO DUNCAN CHESSELL PRESENT

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