EL 33189 Douglas River Partial Relinquishment Report for the Period 21 March 2023 to 20 March 2025

Abstract

Mangusta Minerals Pty Ltd, a 100% subsidiary of DeSoto Resources Limited, holds and operates the Pine Creek Project licence Douglas River EL 33189, located approximately 170 km south of Darwin, Northern Territory. The licence is located immediately west of the town of Pine Creek and initially covered an area of 255.5km2. A total of 42 sub-blocks were relinquished from the licence in Year 2 on 14 March 2025, with 35 sub-blocks retained as EL 33189. Exploration activities on the relinquished blocks have included an assessment of the geology and regolith domains to determine the appropriateness of stream sediment sampling for lithium exploration, and a surface geochemical sampling program comprising 28 streams. No significant lithium mineralisation was encountered with a best result of 31.6ppm Li returned. No further work is recommended on these blocks, and they have been relinquished.