Ann: Annual Report to shareholders, page-5

EVENTS SUBSEQUENT TO REPORTING DATE
On 18 September 2023, the Company announced that it had recently written to Carnaby Resources Limited (ASX:
CNB) requesting that a formal joint venture agreement (JVA) be entered into in regard to the Greater Duchess
Joint Venture in the Mt Isa region of Queensland, consistent with the terms of the Heads of Agreement dated 11
March 2019 between DiscovEx and Carnaby (HoA), with the terms of the JVA to reflect that the area of EPM14366
amalgamated with two expired mining leases, ML5400 and ML90015 (Mining Leases), which cover the Lady Fanny
Prospect area, are subject to the JVA.
Carnaby asserts that it owns 100% of the area of EPM14366 amalgamated with the two expired Mining Leases
which cover the Lady Fanny Prospect area. Prior to the amalgamation with EPM14366, Carnaby did not have an
interest in the area of the Mining Leases.
DiscovEx’s position under the HoA, supported by digital records from the Queensland Department of Resources,
is that EPM14366 is held by DiscovEx and Carnaby in accordance with their joint venture interests. Therefore,
DiscovEx continues to hold a 17.5% legal and beneficial interest (free-carried until a decision to mine) in the
whole of EPM14366 (with Carnaby holding an 82.5% interest), including the area of the Lady Fanny Prospect
situated within EPM14366.
Accordingly, and pursuant to the terms of the HoA, the areas previously covered by the Mining Leases form part
of EPM14366 and the Greater Duchess Joint Venture tenure package which is jointly owned by DiscovEx (17.5%)
and Carnaby (82.5%).
Other than the above matter, there are no matters or circumstances that have arisen since the end of the
financial year that have significantly affected or may significantly affect the operations of the entity, the results of
those operations or the state of affairs of the entity, in future years.