("Cloudbreak" or the "Company")
Gold Targeting at
Geochemical soil sampling contoured assays (Figure 1) over 3 small areas on the smaller tenement E37/1396 (2.45km2 sampled area vs 60.6km2 overall tenement area) indicates that the exploration technique can successfully see mineralisation below soil cover, associated with the high-grade gold grades seen from recent outcrop rock chip sampling. The sampling was done using the Ultrafine Fraction of -200microns, which suppresses the ppb assay number result, but makes the data less noisy. The data is showing trends associated with lower magnetic intensity that will continue to be the focus of the Company. High-resolution magnetic data is due in the coming weeks, which will further refine the resolution of targets for follow-up work.
The multiple rock chip results over 1g/t gold results reported on
High Tenor of Rock chip results being followed up, returning over 10 g/t include:
o 65.75 g/t Au (2.11 ounces of gold per tonne)
o 40.44 g/t Au (1.30 ounces of gold per tonne)
o 27.23 g/t Au
o 19.79 g/t Au
o 15.89 g/t Au
o 15.40 g/t Au
o 14.39 g/t Au
o 13.99 g/t Au
o 12.66 g/t Au
o 12.45 g/t Au
o 10.78 g/t Au
Future plans and work programs:
· High-resolution airborne magnetics results expected within weeks.
· Expand the geochemical sampling grid across the project.
· The above results will assist with plans to refine areas for drilling

Figure 1: Geochemical contours for gold within 3 smaller areas in tenement E37/1396, over regional low-resolution magnetics, including rock chip results from release dated

Figure 2: Rock chip results above 1 g/t gold with regional low-resolution magnetics,

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
-END-
For Further Information, please contact:
|
|
Peter Huljich, Chairman Tom Evans, Managing Director |
Tel: +44 207 887 6139 Tel: +44 7851 703440 |
|
(Financial Adviser) |
David Coffman / Anastassiya Eley |
Tel: +44 7399 9400 |
|
Marex Financial (Broker) |
Angelo Sofocleous / Keith Swann / Matt Bailey |
Tel: +44 (0) 207 655 6000 Email: corporate@marex.com |
About
LSE listed
Competent Persons Statement
The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the