Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3

June Quarter Highlights
ANX signed a binding royalty agreement with Anglo American, receiving US$2M in exchange for 1%
net smelter return on Anax’s future copper and zinc production from the Whim Creek JV 1,2
In addition, the Anglo agreement has provided Anax with access to US$20M in Project development
funding 1,2
The Whim Creek Mineral Resource update to JORC 2012 standard increased the Project’s reportable
copper ore tonnage by 37% to 8.23Mt at 1.03% Cu 3
Bulk ore sorting test work using x-ray transmission (XRT) sorting technology has generated highgrade pre-concentrates up to 6.15% Cu, 9.60% Zn and 7.4g/t Au 4
Soil sampling exploration work continued across the Whim Creek Project, generating new gold
anomalies as well as significant nickel-cobalt and platinum anomalies post Quarter-end 6