Highlights

• CGR has mobilised its field crew at the Webb project, preparing to drill new prospects at Kandula, Elmar, and Shep.
• The company advanced negotiations for tenure grants on its Leonora projects, including Panhandle and Christmas Well.
• CGR identified untested gold results at Christmas Well with follow-up exploration planned.

ASX-listed exploration company CGN Resources Ltd (ASX:CGR) continued to prioritise exploration activities, focusing on its key projects during the first quarter of 2025 (Q1 2025). Efforts were concentrated on the Webb IOCG, Nb & Au project in the West Arunta Orogen of Western Australia (WA), the Christmas Well project, and the Panhandle project near Leonora.

Webb Project: Targeting New Prospects in Western Australia

Key activities at the Webb Project included:

• Interpretation of Ultrafine™ surface geochemistry results
• Target ranking for drilling
• Drill program planning
• Contractor selection

As per the latest update, CGR has mobilised its field crew to begin drill preparations at the Webb project, where drilling will target exciting new prospects at Kandula, Elmar, and Shep. The company is focusing on testing potential IOCG, carbonatite, and orogenic gold deposits. To facilitate this, CGN Resources has contracted DDH1 Drilling, with drilling scheduled to commence in late April.

Panhandle and Christmas Well Projects: Advancing Exploration Near Major Gold DepositsThe company's exploration is centred on two key areas near Leonora, WA: the Panhandle and Christmas Well projects. Both are located along strike from major gold deposits, including the Gwalia Mine, which holds over 8 million ounces of gold.

Key focus of the Leonora projects includes the following:

• Addressing compliance requirements for stakeholder engagement and access agreement negotiations
• Advancing negotiations towards granting of tenure
• Compilation of regional data for analysis
• Conducting geological and geophysical interpretation
• Planning first-pass exploration programs
• Identifying significant untested gold results within the Christmas Well tenure requiring follow-up exploration

Corporate Developments: Strategic Expansions and Industry Engagement

In addition, CGR has been expanding its project profile through the submission of a new tenure application in the Leonora District. The company also participated in the RIU Explorers Conference, where key industry insights were gained. Furthermore, the company presented to multiple broking houses, outlining plans for its upcoming exploration campaign.

Looking Ahead: Exploration Plans for the June Quarter

CGR's results from this quarter have provided a compelling set of targets, laying the foundation for continued testing and exploration throughout 2025. The company plans to carry out the following activities in the upcoming June quarter:

The share price of CGR was AUD 0.091 on 10 April 2025.