Miriam Project

Divestment of Lithium Rights to Continue Growth Opportunities

Corazon has divested 85% of the lithium and industrial mineral rights over the Miriam Project in Western Australia to Future Battery Minerals Limited (ASX: FBM) (FBM) (ASX announcement 24^th May 2024). FBM (through its wholly owned subsidiary Eastern Coolgardie Goldfields Pty Ltd (Eastern Coolgardie)) acquired 85% of Coolgardie Nickel Pty Ltd (Coolgardie Nickel), a wholly owned subsidiary of Corazon, which holds the lithium and industrial minerals rights and tenement title for the Miriam Project.

This transaction delivered initial cash and FBM shares to Corazon, with performance rights allowing the Company to participate in any future upside from FBM’s exploration or development success at the Miriam Project. Under the Divestment, Corazon retains the Miriam Project’s base and precious metals rights (held by wholly owned subsidiary Coolgardie Mineral Rights Pty Ltd (Coolgardie Mineral Rights), and the lithium and industrial minerals rights held by Coolgardie Nickel will be owned by both Eastern Coolgardie (85%) and Corazon (15%).

FMB has announced the completion of a wide-spaced soil-sampling program as part of the systematic exploration for additional shallow, subsurface mineralised pegmatites. Results of the soil-sampling program are to be used to guide planned geophysical surveys and targeted drilling programs. More info.