Ann: Caribou Dome Option Exercised, page-56

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Cheers.

PXX - Polarx Limited today closed up 17% to finish at 1.4c on $150k stock traded. There was no news out today but roughly a fortnight ago they announced the completion of earn-in requirements for an 80% controlling JV interest in the high-grade Caribou Dome project and a 90% JV interest in the Senator Project located in Alaska. The Caribou Dome and Senator projects adjoin its 100% owned Stellar copper-gold project which form its Alaska Range Copper-Gold Project. Caribou Dome’s mineral resource was updated in June last year to 7.2Mt @ 3.1% copper and 6.5 g/t silver for 224Kt of contained copper & 1.5Moz of contained silver. A recent scoping study into the development of the Alaska Range Project included a pre-tax net present value (NPV) of $625m and an IRR of 73.9%. Both Copper and Silver prices were considerably lower when they completed that study. With >18km of the stratigraphic horizon that hosts the mineralisation evident within its project area, there is considerable potential to discover additional high-grade mineralisation and to continue to expand the resource base. Back in February we mentioned them in our What's Doing section which you can find on the link underneath: https://bit.ly/3PacVifSome details on its recent earn-in achievement are listed below: CARIBOU DOME OPTION EXERCISED PolarX has secured its initial 80% controlling JV interest in the highgrade Caribou Dome project in Alaska. PolarX has completed its earn-in requirements following payment of the option exercise price of US$1.26M Title will now be transferred to relevant parties under a contributing joint venture structure PolarX can earn up to a 100% interest in the Caribou Dome project by sole-funding exploration and development activities if the other parties elect not to contribute Tenure adjoins PolarX’s 100% owned Stellar copper-gold project and underpins the 2024 Scoping Study PolarX Limited, is pleased to announce that it has exercised its option to acquire (i) an 80% joint venture interest in tenure comprising the Caribou Dome project; and (ii) a 90% joint venture interest in the adjoining Senator project. This follows completion of the earn-in obligations and payment of the option exercise price of US$1.26M. The Caribou Dome and Senator projects form part of the Company’s Alaska Range Copper-Gold Project (Alaska Range Project). Caribou Dome is part of PolarX’s Alaska Range Project, which also includes Zackly. The Alaska Range Project is located approximately 250km northeast of Anchorage in Alaska, USA. Caribou Dome is readily accessible by road – the Denali Highway passes within 20km of the Project and from there a purpose-built road provides direct access to the historic underground development at the Project. Copper mineralisation was discovered at Caribou Dome in 1963. The ore body consists of nine deformed lenses of volcanic sediment-hosted fine grained massive sulphides comprising chalcopyrite and pyrite. Copper mineralisation has been delineated over approximately 700m of the strike and is open below the current 300m resource depth.

That may or may not be the boss JB above.......