Annual and Final Technical Report Mineral Lease 28341 for the period 20 November 2023 - 2 July 2024

Abstract

This is the Final Surrender Report for ML 28341. It presents a summary of previously-reported exploration over the life of the title since grant on 20 November 2018, and includes a description of work conducted during the reporting period from 20 November 2023 to cessation of title on 2 July 2024. The title was located approximately 230 km NNW of Alice Springs, and was the main resource/mining pit title on Tivan's Mount Peake Project. The Mount Peake orebody is hosted by a differentiated basic sill. The main focus of the Mount Peake Project in recent times has been evaluation of a potentially world class Fe-V-Ti deposit. Exploration over the life of the title included RC and diamond drilling, passive seismic survey, metallurgical test work, and water bore drilling and monitoring. No exploration was conducted over the title during the period from 20 November 2023 to 2 July 2024. In 2023 the Company announced that it was now recognising its Speewah (WA) Project as Tivan's flagship project, and was prioritising its development planning as the core mission of the Company. Given the priority focus on Speewah, the Company made the decision to relinquish ML 28341. Enigma Mining Limited surrendered all rights and interest in ML 28341 on 27 June 2024; cessation of the title occurred on 2 July 2024.