4th October 2023

Extremely pleased to announce that the company is now in the finally process of formally securing the company’s 49% stake holding in Chaparra Resources Agromin S.A. It’s been a long haul trying to complete the project in Chala at the Chelsea mill, but we are almost done.

The final touches are now being made to the Chala operation and agreements are now in place with a number of both regional small-scale miners and the purchasers of gold concentrate.

For the short term anyway Chaparra Resources will focus on being the middleman between both seller of minerals and the purchasers of gold concentrates by way of making the current milling facilities available to local ASM’s. This will allow the Company to operate initially without having the expensive out lay required to purchase of gold bearing ore stream in advance.

Obviously, in time the operation will grow in strength and move slowly towards a fully operational flotation gold process facility but at this moment in time its more important to get things up and running and into profit.

Operations Manager