Broadmere Project EL 32721 Partial Surrender Report EL 32721 03 May 2022 to 29 April 2025

Abstract

Exploration tenement EL 32721 Broadmere is located approximately 830km southeast of Darwin, and approximately 600km North-northeast of Tennant Creek. Tenement EL 32721 is on the Bauhinia Downs 1:250,000 scale NTGS geological map sheet. It was granted to Baudin Resources Pty Ltd (a fully owned subsidiary of Encounter Resources Ltd - 'Encounter') on 3 May 2022 for a period of six years. The tenement will currently expire on 02 May 2028. The Broadmere project tenure is considered prospective for sedimentary hosted copper, zinc and lead mineral systems. Encounter completed a review of the Broadmere project tenure in June 2024 and decided to surrender blocks with lower prospectivity and where targets were below explorable depths. Since its grant date, the following work has been completed within the surrendered part of EL 32721: Desktop geophysical review - Interpretation of the historical seismic lines over the project area and integration with available geological and other geophysical datasets. By surrendering areas on EL 32721, Encounter is aiming at focussing its exploration activities on the most prospective part of the project areas. Indeed, the company is encouraged by its recent review of the seismic data available on the entire project area.