Ann: Drill Permit Approved to Test Carb Lake, page-47

Drilling to start in less than 2 weeks. Has drill core history so CAZ is not going in blind.

At an MC of approx 11M and no need to CR.

Looks very attractive.

The Company had cash and investments of approximately $6.1 million at 31 March 2024.

Drilling permit approved for the 100% Cazaly owned Carb Lake Nb-REE project Drilling to commence late July – early August across large scale+3km diameter Nb-REE mineralised carbonatite
Last drill tested in 1960s with only 4 holes:highest reported niobium result 7.1%Recent pXRF on historic core confirms anomalous REE: highest results Pr 0.42%, Nd 1.49%

Undervalued

IMO