Red Mountain Copper-Gold Project (100% owned ~57km²)

The Red Mountain porphyry copper-gold project is located within the Dornogovi Province of southern Mongolia, approximately 420km southeast of Ulaanbaatar. The exploration prospect is strategically located 70km west from the provincial center, and future industrial center, of Sainshand.

The porphyry mineralisation at Red Mountain is associated with late-stage monzonite and quartz diorite porphyry dykes and stocks emplaced on the flanks of the Red Mountain Intrusive Complex (RMIC). Alteration and mineralisation at Red Mountain is characterised by multiple co-genetic copper-gold porphyry centres, tourmaline breccia pipes and copper-gold/base metal magnetite skarns.

Approximately 4,880m of discovery-focused diamond drilling completed across four prospects has encountered significant, shallow mineralisation warranting near term follow-up.

Best intersections include:

Epithermal gold extensions at Target 33

• 41m @ 1.07g/t Au from 34m (OUDDH128)
  Including 5m @ 2.67g/t Au from 38m
  And 6m @ 2.28g/t Au from 58m
• 29m @ 0.54g/t Au from 4m
  Including 4.1m @ 1.39g/t Au from 18m (OUDDH130)

Maiden drilling for high grade copper sulphide lodes at Nowie

• 8m @ 1% Cu and 0.12g/t Au from 267m (OUDDH134)
• 14m @ 0.75% Cu and 0.26g/t Au from 113m (OUDDH136)

Copper gold porphyry extensions at 2 prospects

Target 10 copper sulphide lodes returns:

• 4m @ 0.85% Cu and 1.52g/t Au from 186m (OUDDH132)
  And 4m @ 0.85% Cu and 1.52g/t Au from 186m

Bavuu Copper-Gold Porphyry Prospect returns:

• 9.5m @ 0.47% Cu and 0.21g/t Au from 110.3m (OUDDH137)

References:

• ASX/TSX Announcement 21 June 2024 – Near Surface Copper & Gold Results at Red Mountain