Flagship · 100% Valdur

The Carpentaria REE Project

An [ionic-adsorption clay] rare-earth system in North Queensland — [town] [XX] km by sealed road, port at [Townsville / Karumba].

01 / The Geology, Taught Plainly

REEs liberated from [source rocks] are held on clay particles in a soft blanket [X–XX] m thick — amenable to simple, low-cost mining and desorption processing, the style that supplies most of the world's heavy rare earths from southern China.

02 / The Discovery Narrative

Carpentaria was an address in the Fable model before a Valdur geologist ever stood on it. Screening → first drill line → discovery hole [VDRC012]: [24] m @ [2,150] ppm TREO from [4] m → step-outs → maiden Mineral Resource in [XX] months.

Scoreboard: [XXX] holes · [XX,XXX] m · [X] months

Map — tenure (EPM numbers), resource outline, drill collars, untested strike

03 / Mineral Resource

The single source of truth.

Carpentaria Mineral Resource · effective [date] · [XXX] ppm TREO cut-off
Category	Mt	TREO ppm	MREO ppm (Nd+Pr+Dy+Tb)	MREO : TREO	Contained TREO t
Measured	—	—	—	—	—
Indicated	[XX]	[X,XXX]	[XXX]	[XX]%	[XX,XXX]
Inferred	[XX]	[X,XXX]	[XXX]	[XX]%	[XX,XXX]
Total	[XX]	[X,XXX]	[XXX]	[XX]%	[XXX,XXX]

Individual oxide distribution · % of TREO (transparency table)
Oxide	Nd₂O₃	Pr₆O₁₁	Dy₂O₃	Tb₄O₇	La₂O₃	CeO₂	Others
% of TREO	[XX]%	[X]%	[X.X]%	[X.X]%	[XX]%	[XX]%	[X]%

(1) Reported in accordance with the JORC Code (2012). (2) Effective date [date]. (3) Reasonable-prospects basis: [cut-off, assumptions]. (4) Figures are rounded; totals may not sum. (5) Reported within granted EPMs [numbers].

The information in these tables is extracted from the announcement titled "[title]" dated [date], available at [link]. The Company confirms it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The form and context of the Competent Person's findings have not been materially modified.

04 / Metallurgy

Desorption test-work at [lab] using [method]: recoveries of [XX–XX]% for Nd and Pr in initial rounds. Test work is ongoing — results will be reported as announced. No cost or price speculation appears here pre-study.

05 / Growth

[XX] km of prospective strike untested; the clay blanket remains open in [directions]. Extension and infill drilling of [XX,XXX] m is funded for [year].

Any future Exploration Target will be stated as ranges only, accompanied by the mandatory JORC cl.17 cautionary statement at equal prominence, and never presented adjacent to the Mineral Resource in a way that invites addition.

[Q_ 20XX]
[XX,XXX] m aircore infill — funded.
[Q_ 20XX]
Met test-work phase 2 — underway.
[Q_ 20XX]
Mineral Resource update — targeted.

Downloads: [key announcements] · [latest corporate deck] · [project fact sheet PDF].