The Lefroy Project is located in central Tasmania and consists of one Retention Licence (covering the Pinafore and Chum mines) and one Exploration Licence that spans most of the historical Lefroy Goldfield. Historic reports from Mineral Resources Tasmania estimate that the goldfield produced more than 167,000 ounces of gold at an average grade of 26 g/t Au.

Mining during the 19th and early 20th centuries focused on shallow high-grade quartz veins, with little to no activity in the past two decades. The area is recognized as underexplored using modern methods.

Geological Potential

The Lefroy Goldfield is dominated by east–west trending gold reefs mined to depths between 30 and 100 metres. These reefs are considered structurally controlled and may extend beyond historical workings, representing an opportunity for expansion through modern exploration.

In 2025, the Company plans to:

• Conduct surface sampling and geologic mapping

• Undertake geophysical surveys to map extensions of known structures

• Use results to develop new drill targets