Partial Relinquishment Report for Exploration Licence 30730 Lake Mackay Project From 13th of October 2017 to 26th of September 2022

Abstract

This report summarises the partial relinquishment of 66 blocks (203.74 km2) of tenement EL 30730 prompted by the approaching fifth anniversary of the tenement grant on the 13th of October 2017. Tenement EL 30730 is located approximately 365 km west-northwest of Alice Springs in the western Aileron Province of central Australia. EL 30730 forms part of the Lake Mackay joint venture Project between IGO Limited (IGO) and Prodigy Gold NL (PRX). Since May 2022, ownership of the project has been split 70:30. IGO hold the majority share of tenements (including EL 30730) with potential for base metal mineralisation whereas PRX hold the majority share of tenements with potential for gold mineralisation. During the tenure period (13/10/2017 to 26/09/2022), IGO completed airborne magnetic, radiometric and electromagnetic surveys on the 66 blocks relinquished. This work was part of a wider exploration program across the Lake Mackay project area. The tenement was also subject to a site heritage clearance by the Central Land Council. IGO have relinquished ground for two main reasons. Relinquished areas covered by airborne geophysical surveys failed to provide any follow-up exploration targets. Some areas were relatively unexplorable with current geophysical and geochemical methods because ground was covered in sand dunes or had significant depth of cover to basement rocks. This made drilling and further exploration impractical with current methods. No further work is recommended on the relinquished ground.