Carrara West EL 33688 Final Surrender Report 21 May 2024 to 18 October 2024

Abstract

The Carrara West Project is located in the Barkly Tablelands approximately 340km east northeast of Tennant Creek, 730km southeast of Katherine and 630km northeast of Alice Springs and consists of one Exploration Licence (EL 33688) covering a total area of approximately 357 square kilometres. This was granted to Baudin Resources Pty Ltd (a fully owned subsidiary of Encounter Resources Ltd - 'Encounter'). Carrara West is considered prospective for sediment-hosted Zn - Pb and Cu mineralisation. And is located next to the Carrara Project. In June 2022, South32 and Encounter entered into a Farm-in Agreement covering the Carrara Copper - Zinc Project. In September 2024 Encounter regained 100% ownership and operatorship over the entire Carrara Project tenure. Encounter completed a review of the Carrara and Carrara West project tenure in October 2024 and surrendered blocks with lower prospectivity and where targets were below explorable depths.