Drilling Continues to extend boundaries of high-grade mineralisation at Challengers flagship Hualilan Gold Project

• Multiple new zones of high-grade mineralisation outside the boundaries of the existing
historical resource1 with results from the current round of drilling including (Refer table 1):

▪ 12.0m at 20.9 g/t AuEq2
– 20.4 g/t Au, 4.8 g/t Ag, 1.0% Zn from 289m including; 4.10m at 56.8 g/t AuEq2
– 55.7 g/t Au, 12.9 g/t Ag, 2.1%, from 291m;
(results from 0-200m and 303-527m and end of hole pending) (GNDD-157).

▪ 110.5m at 3.0 g/t AuEq2
– 2.5 g/t Au, 7.4 g/t Ag, 0.9% Zn from 81.5m including;11.5m at 6.5 g/t AuEq2
– 5.4 g/t Au, 19.9 g/t Ag, 2.0% Zn from 81.5m and;
40.0m at 6.2 g/t AuEq2
– 5.1 g/t Au, 11.7 g/t Ag, 1.9% Zn, from 152m including;10.7m at 13.3 g/t AuEq2
– 10.7 g/t Au, 28.4 g/t Ag, 4.9% Zn from 152m (GNDD142).

▪ 4.0m at 11.3 g/t AuEq2
– 5.3 g/t Au, 86.2 g/t Ag, 10.6% Zn from 196m and;
2.0m at 6.2 g/t AuEq2
– 6.2 g/t Au, 1.3 g/t Ag, 0.0% Zn from 240m and;
2.9m at 10.2 g/t AuEq2
– 4.7 g/t Au, 3.6 g/t Ag, 11.6% Zn from 530m (GNDD-134).

▪ 6.5m at 16.4 g/t AuEq2
– 14.3 g/t Au, 43.6 g/t Ag, 3.4% Zn from 101m including; 2.5m at 42.1 g/t AuEq2
– 36.8 g/t Au, 111 g/t Ag, 8.6% Zn (GNDD-141).

• New high-grade discovery below the Sentazon Manto with GNDD-142 recording 40.0 metres at
6.2 g/t AuEq including 10.7 metres at 13.3 g/t AuEq and 12.8 metres at 5.7 g/t AuEq.

• The potential scale created by this this new zone stacked below the Sentazon Manto is
indicated by the impressive broader intercept of 110.5 metres at 3.0 g/t AuEq in GNDD-142

• Significant new zone of mineralisation discovered south of the Magnata Fault in GNDD-134 and
GNDD-157 (12 metres at 20.9 g/t AuEq) with results for the bottom half of GNND-157 pending.

• Vertical extent tripled by the high-grade intersection of 2.9m at 10.2 g/t AuEq from 530m in
drill hole GNDD-134. The bulk of the historical resource1
lies within 80 metres of surface.