New Risk • Mar 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.7m (US$9.66m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 45% per year over the past 5 years. Revenue is less than US$1m (AU$239k revenue, or US$168k). Market cap is less than US$10m (AU$13.7m market cap, or US$9.66m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). Reported Earnings • Mar 14
First half 2026 earnings released: EPS: AU$0 (vs AU$0.006 loss in 1H 2025) First half 2026 results: EPS: AU$0 (improved from AU$0.006 loss in 1H 2025). Net loss: AU$64.2k (loss narrowed 98% from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • Dec 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 54% per year over the past 5 years. Revenue is less than US$1m (AU$287k revenue, or US$193k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (AU$18.6m market cap, or US$12.5m). Announcement • Nov 20
Cazaly Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.5 million. Cazaly Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 116,666,668
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing New Risk • Oct 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Earnings have declined by 54% per year over the past 5 years. Revenue is less than US$1m (AU$287k revenue, or US$188k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$18.7m market cap, or US$12.3m). Announcement • Oct 13
Cazaly Resources Limited, Annual General Meeting, Nov 20, 2025 Cazaly Resources Limited, Annual General Meeting, Nov 20, 2025. Location: at the park business centre, 45 ventnor avenue, wa 6005, west perth Australia Reported Earnings • Sep 20
Full year 2025 earnings released: AU$0.013 loss per share (vs AU$0.002 loss in FY 2024) Full year 2025 results: AU$0.013 loss per share (further deteriorated from AU$0.002 loss in FY 2024). Net loss: AU$5.81m (loss widened AU$4.91m from FY 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. New Risk • Sep 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 53% per year over the past 5 years. Revenue is less than US$1m (AU$328k revenue, or US$218k). Market cap is less than US$10m (AU$14.0m market cap, or US$9.30m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Reported Earnings • Mar 18
First half 2025 earnings released: AU$0.006 loss per share (vs AU$0 in 1H 2024) First half 2025 results: AU$0.006 loss per share (further deteriorated from AU$0 in 1H 2024). Net loss: AU$2.73m (down AU$2.85m from profit in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. New Risk • Jan 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m (AU$297k revenue, or US$185k). Market cap is less than US$10m (AU$6.00m market cap, or US$3.73m). Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Jonathan Downes was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 11
Cazaly Resources Limited, Annual General Meeting, Nov 21, 2024 Cazaly Resources Limited, Annual General Meeting, Nov 21, 2024. Location: at level 3, 30 richardson street, west perth wa 6005 Australia Reported Earnings • Sep 21
Full year 2024 earnings released: AU$0.002 loss per share (vs AU$0.006 loss in FY 2023) Full year 2024 results: AU$0.002 loss per share (improved from AU$0.006 loss in FY 2023). Net loss: AU$891.5k (loss narrowed 58% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 14
First half 2024 earnings released: EPS: AU$0 (vs AU$0.003 loss in 1H 2023) First half 2024 results: EPS: AU$0 (improved from AU$0.003 loss in 1H 2023). Net income: AU$118.3k (up AU$1.36m from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Announcement • Nov 29
Cazaly Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2.089 million. Cazaly Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2.089 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 69,633,333
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing Announcement • Oct 12
Cazaly Resources Limited, Annual General Meeting, Nov 21, 2023 Cazaly Resources Limited, Annual General Meeting, Nov 21, 2023, at 10:30 W. Australia Standard Time. Location: Hall Chadwick, 283 Rokeby Road, Subiaco Western Australia Australia Agenda: To receive and consider the 2023 Annual Report together with the Declaration of the Directors, the Directors' Report, the Remuneration Report and the Auditor's Report thereon; to consider adoption of remuneration report; to consider re-election of Director - Mr. Clive Jones; to consider approval of 10% placement capacity; to consider ratification of prior issue of shares for 25% interest in Sundown Lithium project; to consider ratification of prior issue of shares for services and finder's fee; to consider approval of issue of shares - Equity Placement; and to deal with any business that may be lawfully brought forward. New Risk • Sep 23
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.0m free cash flow). Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m (AU$487k revenue, or US$314k). Market cap is less than US$10m (AU$15.4m market cap, or US$9.92m). Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). New Risk • Sep 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$343k revenue, or US$219k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Market cap is less than US$100m (AU$16.6m market cap, or US$10.6m). New Risk • Aug 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m (AU$343k revenue, or US$222k). Market cap is less than US$10m (AU$15.4m market cap, or US$9.97m). Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Reported Earnings • Mar 11
First half 2023 earnings released: AU$0.003 loss per share (vs AU$0.002 profit in 1H 2022) First half 2023 results: AU$0.003 loss per share (down from AU$0.002 profit in 1H 2022). Net loss: AU$1.24m (down 238% from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Announcement • Feb 16
Cazaly Resources Limited Announces Anomalous Copper Results & Multiple EM Targets at the Ashburton Project Cazaly Resources Limited announced that exploration has advanced at its Ashburton Project, located in the Pilbara region of Western Australia. Copper results have been received from rock chip samples collected at the Cheela Plains prospect and initial processing of final electromagnetic (EM) survey data was also completed. The Cheela Plains prospect is located along the Najilgardy fault zone where Cazaly holds the rights to a major land position covering more than 2,450km in the Ashburton Basin. The project covers major regional structures considered to be prospective for large mineralised systems. Analytical results have been returned for three (3) rock chip samples collected at the Cheela Plains prospect where Cazaly's geologists identified copper in outcrop in the form of copper carbonates, visual estimates up to 3% and copper sulphides, visual estimates up to 5%. Two of the three samples assayed above 10% copper, with the highest assay 32.32% copper. The mineralised copper trend continues to the south east with anomalous rock chip samples extending the anomaly over 2km strike. Limited historical drilling was conducted to the south-east of the best rock chip results however the drill holes appear to have failed to test the prospective stratigraphy and therefore ineffective at testing the copper potential along this trend. An Airborne Electromagnetic (AEM) Survey was completed across three blocks in early August 2022 for a total of 305 line kilometres at 400m or 200m line spacing. Final EM survey results have been received and processing has been completed for the first priority block "Survey Block 1" located at the Cheela Plains prospect along the Nanjilgardy Fault. The Nanjilgardy fault is a major regional scale structure marking the boundary between the Capricorn Orogen and the Pilbara Craton. The structure is associated with significant deposits including Black Cat's Paulsens gold mine and Kalamazoo's Mount Olympus gold mine. Final results and report are pending. Three new EM targets have been identified (Figure 3) closely associated with a NW trending Fault, interpreted to be a splay off the Nanjilgardy fault within the broader Nanjilgardy fault zone. This fault may have been an important conduit for the focus of mineralising fluids and is in close proximity to the copper mineralisation and EM targets. All three EM targets are untested, no historical surface sampling or drilling has been conducted on the targets. The Company has initiated specific modelling of the EM anomalies to determine the size and geometry of any potential conductor targets for further follow-up. It is anticipated that this will be completed in the coming weeks in time for the 2023 field season. Announcement • Feb 15
Cazaly Resources Limited Announces Anomalous Rare Earth Elements Occur At Ashburton Project Cazaly Resources Limited announced that anomalous assay results have been received for initial REE exploration carried out over 50km strike, at its Ashburton Project, located in the Pilbara region of Western Australia. The project area covers 2,450km2 and hosts major regional structures considered to be prospective for large mineralised systems. Analytical results were returned from the rock chip heli-sampling program completed at the Ashburton Project. Twenty-six (26) samples were collected from the sedimentary units of the Capricorn group over a 50km strike, adjacent to the Blair Fault, a deep seated regional scale structure. Seven (7) samples returned anomalous TREO above 0.5% with two (2) samples above 1% TREO. Elevated REE include: 118ppm dysprosium; 179ppm gadolinium; 619ppm yttrium; 2,070ppm lanthanum; 1,472ppm neodymium; and 431ppm praseodymium. In addition phosphorous results were also elevated to 4,600ppm. These results are higher than those samples previously reported by Fortescue Metals Group (FMG) from within the Ashburton project area. Historically, limited low-level exploration was conducted by Fortescue Metals Group Ltd. (FMG) across the dolomites within the Capricorn Group with eleven (11) rock chip samples collected by FMG and analysed for gold, base metals, and REE. The results indicate the samples are enriched in REE (notably La, Ce, and Pr). Six (6) of these samples are located along the Blair Fault in the southern part of Cazaly's Ashburton Project area. The samples have elevated REE including: 2,840ppm cerium; 86.5ppm dysprosium; 1370ppm lanthanum; 314ppm praseodymium; and 1,650ppm phosphorus. Neodymium was not reported. Cazaly recently completed a helicopter supported rock chip sampling program to determine the prospectivity of the 50km long thorium anomaly and follow up on the previous work conducted by FMG along strike to the south-east. Announcement • Jan 17
Cazaly Resources Limited Announce That Exploration Has Advanced At Its Ashburton Project, Located in the Pilbara Region of Western Australia Cazaly Resources Limited announced that exploration has advanced at its Ashburton Project, located in the Pilbara region of Western Australia. The project area covers 2,450km and hosts major regional structures considered to be prospective for large mineralised systems. Cazaly has identified strongly anomalous radiometric trends parallel to stratigraphy within the project which correspond with historic strongly anomalous rare earth element results. First pass reconnaissance field work has recently been completed by the Company to investigate these trends. All analytical results are pending. During ongoing target generation work a 50km long thorium anomaly was identified across the southern portion of the tenements adjacent to the Blair Fault, a deep-seated regional scale structure at the contact between the Ashburton Formation and the Capricorn Group. Historically, limited low-level exploration was conducted by Fortescue Metals Group Ltd. across the dolomites within the Capricorn Group in search of REE. Eleven rock chip samples were collected by FMG and analysed for gold, base metals, and REE. The results indicate the samples are enriched in REE. Six of these samples are located along the Blair Fault in the southern part of Cazaly's Ashburton Project area. The samples have elevated REE including: 2,840ppm cerium; 86.5ppm dysprosium; 1370ppm lanthanum; 314ppm praseodymium; and 1,650ppm phosphorus. Neodymium was not assayed. Cazaly recently completed a helicopter supported rock chip sampling program to determine the prospectivity of the 50km long thorium anomaly and follow up on the previous work conducted by FMG along strike to the south-east. 26 samples were collected along the thorium anomaly, 6 samples were collected at other points of interest, and 3 samples were collected to assess a preliminary TEM anomaly along the Nanjilgardy fault on tenement E08/3272, known as the Cheela Plains tenement. shows all sample locations. Rock chip samples collected on the Cheela Plains tenement contained copper carbonates, visual estimates up to 3% and copper sulphide mineralisation, visual estimates up to 5%. All rock chip samples were submitted to the laboratory for analysis. Announcement • Dec 13
Cazaly Resources Limited Announces Surface Sampling Completed on Large Namibian Lithium Target Cazaly Resources Limited announced that lithium infill surface sampling has been completed at the Kaoko Project in Namibia, and all samples have been submitted for analysis. Cazaly's recent data review highlighted the presence of a large lithium in soil anomaly in the north-eastern part of the project area stretching over 12km. The anomaly was defined with broad surface samples collected across a 1km grid. The recent infill sampling program is designed to refine the anomaly, which is in excess of 100 sq. km, with samples collected across the most anomalous areas on a 200m x 50m grid spacing. Cazaly engaged Gecko Exploration (Pty) Ltd, a local Namibian consulting company, to conduct infill soil sampling at the Kaoko lithium anomaly. The sampling team comprised four geologists and assistants from the surrounding community for the duration of the soil sampling campaign. A total of 287 soil samples were collected from the area (Figure 2) and sent for multi-element analysis. The assay results are expected to be received within eight to twelve weeks. At this early stage, the potential deposit style is considered to be sedimentary hosted. Sedimentary lithium deposits accumulate as lithium is transported into basins where it reacts with other minerals creating chemical bonds weaker than that found in spodumene (pegmatites) and stronger than those found in brines. The moderate strength of the lithium chemical bonds in sediments when compared to pegmatites provides opportunities for simple low-cost processing with no comminution circuit (crushing and grinding) and simple reagents. The Project is located in northern Namibia, approximately 800km by road from the capital of Windhoek and approximately 750km from the port of Walvis Bay (Figure 3). There is excellent infrastructure in the region with the Project being only 50 km from the regional capital of Opuwo, with an airport, good bitumen roads, and access to the 320 MW Ruacana hydroelectric power station. Transmission lines run through both the western and eastern parts of the Project. Announcement • Dec 11
Cazaly Resources Limited Announces That All Multi-Element Assay Results Cazaly Resources Limited announced that all multi-element assay results have been received for diamond drilling of a single hole (VKDD2201) to test the Vanrock polymetallic target at the Vanrock Project located in central north Queensland. Cazaly entered into an option agreement with Lynd Resources Pty Ltd. to acquire a majority stake in the Vanrock project based upon sole funding of a single drill hole into the Vanrock target as outlined in the ASX announcement dated 20 July 2022. Funding assistance for this drill hole will be sourced from the Queensland Government's Collaborative Exploration Initiative (up to $171,370). The Project is located in central north Queensland 350km west of Cairns (Figure 1). The Project lies within the northern portion of the Townsville- Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria. Vanrock is characterised by a magnetic high on the margin of a large caldera 30km in diameter (Figure 1) targeting Andean-style silver - tin - base metal mineralisation. As announced on the 28 September 2022 two separate sulphidic zones were intersected in the hanging wall to the Vanrock Target. The mineralised intervals reported correspond to elevated zinc and silver assays: 4m @ 2.1% Zinc and 63.7g/t Silver from 211.95m; and 2.7m @ 1.5% Zinc and 14.1g/t Silver from 266.27m. Drilling details and anomalous results are included in Appendix 1. Announcement • Dec 03
Cazaly Resources Limited Announces Maiden Resource Estimate Bommie Porphyry Copper Deposit 262,000 Tonnes Copper Metal Cazaly Resources Limited announced a Maiden Ore Resource for its 100% owned Bommie Porphyry Copper deposit at the Halls Creek Project in the East Kimberley, northern Western Australia. Cazaly's recent 2022 RC drilling campaign at the Bommie prospect has culminated in a maiden Mineral Resource Estimate (MRE). The total MRE envelope covers 950m of strike N-S with widths ranging from 300m to 600m and extends from surface in places to 340m below surface. The resource was classified as indicated where drilling was of sufficient density in the central western portion of the deposit, and encompasses 360m of strike N-S, up to 230m width and extends from surface to a depth of 150m. The company engaged Hyland Geological and Mining Consultants (HGMC) to complete the MRE for the Bommie Porphyry Copper Prospect. The Bommie MRE1 is reported in accordance with the JORC Code 2012. Collar co-ordinates and assay information from this latest round of drilling were reported in ASX announcement dated 14 October 2022. Mineralisation is interpreted to be moderately east dipping, with higher grades noted in western portion of the deposit. The Bommie Copper resource remains open in all directions and there is opportunity for growth of the mineral resource especially to the north and west, and at depth in places. The project is situated 25km southwest of Halls Creek and covers part of the Halls Creek Mobile Zone which is highly prospective for a range of commodities including copper, gold, and nickel. The project includes the Mount Angelo North Copper-Zinc deposit, an extensive zone of near surface oxidised Cu-Zn mineralisation overlying massive Cu-Zn sulphide mineralisation. The Mount Angelo North mineral resource estimate2 is reported in accordance with the JORC Code 2012 as 1.72Mt @ 1.4% Cu, 1.4% Zn, 12.3ppm Ag (using 0.4% Cu lower cut) for 23kt Cu, 25kt Zn, 680koz Ag. The mineral resource includes the following anomalous intercepts: 64m @ 2.7% Cu (1.1% Zn), 62m @ 2.4% Cu (2.8% Zn), 37m @ 2.6% Cu (6.1% Zn). Geology and geological interpretation: The Bommie prospect is interpreted to represent a porphyry copper occurrence, the final mineralised phase of the intrusive Mount Angelo microgranite. The Mount Angelo microgranite has intruded the Koongie Park volcanics where it is bound by the Angelo Fault and a major splay from it. It is found along strike from the Mount Angelo VMS occurrence. Copper mineralisation at the Bommie prospect occurs as disseminated sulphides primarily chalcopyrite and extends from surface where the sulphides are oxidised and copper is evidenced by malachite (a copper carbonate hydroxide mineral). The majority of the geologically interpreted Bommie mineralised occurrence has an approximate 950m strike length. The mineralisation interpreted width ranges from approximately 300 m to 600m.Mineralization in the majority of the deposit area extends and has been modelled to a depth of approximately 340 m below topographic surface. All available RC and Diamond drilling data was used to build the mineralisation model and for guiding Mineral Resource estimation. Recent verification RC drilling carried out by Cazaly has also enabled some of the estimated resources to be assigned a higher level of resource estimation confidence and therefore higher level of resource reporting classification. Sampling and sub-sampling techniques: RC samples were collected at 2 metre composited intervals by rig mounted cone splitter to make up a total weight of approximately 3kg per sample submitted. Some validated drill holes were also sampled at between 1 and 3 metre intervals. The most recent Cazaly RC samples were sent to an accredited laboratory in Perth for sorting, crushing, pulverization and analysis by fire assay (Au) and four acid digest (multielement suite) methods. Samples from all RC and DD drilling were considered representative and appropriate for the material sampled. Drilling techniques: Two drilling techniques were used reverse circulation drilling completed with a 139mm face sampling hammer, and diamond drilling producing HQ and NQ sized core. The majority of the samples were collected by reverse circulation techniques. All drilling by Cazaly was undertaken using reverse circulation drill rigs. Criteria for resource classification: The drill holes are spaced on a nominal 100m north-south, east-west grid with some drill spacing variability ranging from 50m to 150m. The majority of holes were drilled to the west. The data spacing and distribution is suitable to establish geological and grade continuity. Classification of the resource has been assigned by the Competent Person and includes a series of project specific `modifying factors' appropriate for the Resource estimation. A small amount of Indicated Resources is estimated with the majority of mineralization being classified as Inferred. The classification was considered appropriate on the basis of drill hole spacing, sample interval, geological interpretation, and representativeness of all available assay data. The Competent Person considers the mineral resource to be a robust and reliable global estimate of the contained Copper and related mineralization. The estimation has been constrained within defined mineralisation wireframes. Announcement • Nov 24
Cazaly Resources Limited Announces A Maiden Ore Resource for Its 100% Owned Bommie Porphyry Copper Deposit At the Halls Creek Project in the East Kimberley, Northern Western Australia Cazaly Resources Limited announced a Maiden Ore Resource for its 100% owned Bommie Porphyry Copper deposit at the Halls Creek Project in the East Kimberley, northern Western Australia. Cazaly's recent 2022 RC drilling campaign at the Bommie prospect has culminated in a maiden Mineral Resource Estimate (MRE). The total MRE envelope covers 950m of strike N-S with widths ranging from 300m to 600m and extends from surface in places to 340m below surface. The resource was classified as indicated where drilling was of sufficient density in the central western portion of the deposit, and encompasses 360m of strike N-S, up to 230m width and extends from surface to a depth of 150m. The company engaged Hyland Geological and Mining Consultants (HGMC) to complete the MRE for the Bommie Porphyry Copper Prospect. Collar co-ordinates and assay information from this latest round of drilling were reported in ASX announcement dated 14 October 2022. Mineralisation is interpreted to be moderately east dipping, with higher grades noted in western portion of the deposit. The Bommie Copper resource remains open in all directions and there is opportunity for growth of the mineral resource especially to the north and west, and at depth in places. The project is situated 25km southwest of Halls Creek and covers part of the Halls Creek Mobile Zone which is highly prospective for a range of commodities including copper, gold, and nickel. The project includes the Mount Angelo North Copper-Zinc deposit, an extensive zone of near surface oxidised Cu-Zn mineralisation overlying massive Cu-Zn sulphide mineralisation. The Mount Angelo North mineral resource estimate is reported in accordance with the JORC Code 2012 as 1.72Mt @ 1.4% Cu, 1.4% Zn, 12.3ppm Ag (using 0.4% Cu lower cut) for 23kt Cu, 25kt Zn, 680koz Ag. The mineral resource includes the following anomalous intercepts: 64m @ 2.7% Cu (1.1% Zn), 62m @ 2.4% Cu (2.8% Zn), 37m @ 2.6% Cu (6.1% Zn). Announcement • Nov 17
Cazaly Resources Limited Announces Field Work Commences on Namibian Lithium Target Cazaly Resources Limited announced that infill surface sampling is to commence next week at the Kaoko Project in Namibia. Cazaly's recent data review highlighted the presence of a large lithium in soil anomaly in the north-eastern part of the project area stretching over 12km. The anomaly is currently defined with broad surface samples collected across a 1km grid with the sampling program planned to infill the highly anomalous areas to 200m by 50m spacing. Grab samples and or rock chips will also be collected to provide further information on the nature of the anomaly which is in excess of 100 sq.km. At this early stage, the potential deposit style is considered to be sedimentary hosted. Sedimentary lithium deposits accumulate as lithium is transported into basins where it reacts with other minerals creating chemical bonds weaker than that found in spodumene (pegmatites) and stronger than those found in brines. The moderate strength of the lithium chemical bonds in sediments when compared to pegmatites provides opportunities for simple low-cost processing with no comminution circuit (crushing and grinding) and simple reagents. The Project is located in northern Namibia, approximately 800km by road from the capital of Windhoek and approximately 750km from the port of Walvis Bay. There is excellent infrastructure in the region with the Project being only ~50 km from the regional capital of Opuwo, with an airport, good bitumen roads, and access to the 320 MW Ruacana hydroelectric power station. Transmission lines run through both the western and eastern parts of the Project. Announcement • Nov 07
Cazaly Resources Limited Announces Application for New Exploration Licence Located in Northern Region of Namibia Cazaly Resources Limited announced the application for a new exploration licence located in the northern region of Namibia through its 95% owned local subsidiary company Philco One Hundred and Seventy Three (Proprietary) Limited. The remaining 5% interest in Philco is held by a local Namibian company controlled by historically disadvantaged Namibians. The Abenab North Project lies in the Otavi Mountain Land region of northern Namibia located approximately 450km by road from the capital of Windhoek in an area comprising the towns of Tsumeb and Grootfontein. The region is a significant well mineralised base metal province with historic production from several mines including Tsumeb, Kombat, Abenab and the Berg Aukas mines. Tsumeb is a world-famous Cu-Pb-Zn-Ag-Ge-Cd mine renowned for its wealth of rare and unusual minerals and was mined from 1897 to 1996. There is excellent infrastructure in the region which is well served by sealed roads, rail to port, high voltage power, telephone lines, and water. The Abenab North Project is close to major towns and mining processing facilities. The exploration licence application, EPL 9110 Abenab North, has no competing applications and covers an area of approximately 790 km. The project is located on the Neo-Proterozoic Damaran platform carbonate succession of the Otavi Group overlying basal clastic sediments of the Nosib Group, which in turn rest upon Paleo-Proterozoic granitic basement. The project is considered to be highly prospective for base metal and rare earth element (REE) mineralisation as evidenced from the results of previous but limited exploration. In the early 2000's Anglo American Corporation explored for base metal mineralisation in the area now covered by the EPL application. The program was short-lived however, and the ground was relinquished after the completion of a ground geophysical campaign. In 2004 Kudu Minerals (Pty) Ltd. applied for a portion of the ground abandoned by Anglo American also targeting Tsumeb style hydrothermal pipes. Kudu Minerals interpreted and modelled airborne and ground magnetic data, the results highlighted 9 targets for follow up drilling. The drilling was aimed at testing these anomalies by drilling a single hole into each target into the fresh rock whilst two other targets, numbered 11 & 12, were tested by surface geochemistry only. Drilling intersected fresh carbonatitic material in five drill holes (B1-B4, B7). In two drill holes ferruginous quartzites were intersected (B5, B9). B8 did not intersect the target due to excessive ground water at 118m. Drill hole B6 intersected soft, red clays with minor iron oxides and dolomitic fragments over 43m from 57m to 100m downhole, the hole was abandoned within oxidised clays. Geological logging and petrographic analyses confirmed that carbonatite was intersected in 6 of the 9 drill holes. Drill holes B3, B4 and B6 all ended in carbonatite, however only limited sampling and analysis for REE was carried out. Drill hole B6 showed a 45m intersection (55m-100m end of hole) of REE enrichment in carbonatite material comprising red clays with minor iron oxides and dolomite fragments. Drill hole B6 showed an average grade of 0.68% (CeO2 + La2O3 + Nd2O3) over 45m from 55m, including a higher grade zone assaying 2.36% (CeO2 + La2O3 + Nd2O3) over 4m from 86m. Total Rare Earth Oxide (TREO) values for these intercepts, as reported in the highlights section of this announcement, are 0.73% over 45m and 2.53% over 4m respectively. Announcement • Oct 12
Cazaly Resources Limited Announces Exploration Has Advanced at its Ashburton Project, Located in the Pilbara Region of Western Australia Cazaly Resources Limited announced that exploration has advanced at its Ashburton Project, located in the Pilbara region of Western Australia. Cazaly holds the rights to a major land position covering more than 2,450km2 in the Ashburton Basin. The project covers major regional structures considered to be prospective for large mineralised systems. Airborne Electromagnetic Survey: An Airborne Electromagnetic (AEM) Survey was completed across three blocks in early August for a total of 305 line kilometres at 400m or 200m line spacing. While final results are pending, preliminary results have been received and initial interpretations are reported below. Survey Block 1 tested an area along the Nanjilgardy Fault with anomalous historical surface geochemistry. The Nanjilgardy fault is a major regional scale structure marking the boundary between the Capricorn Orogen and the Pilbara Craton. The structure is associated with significant deposits including Black Cat's Paulsens gold mine and Kalamazoo's Mount Olympus gold mine. Survey Blocks 2 and 3 were designed to refine broad TEMPEST AEM anomalies identified in publicly available government survey data. Block 2 is also coincident with anomalous gold results at the New Finish prospect. Interpretation of preliminary data was completed by Southern Geoscience Consultants. The results are summarised below: · Block 1 - 200m line spacing shows subtle anomalous conductive trends with WNW orientations. This orientation coincides with the strike of lithology. Several higher amplitude anomalies occur on the eastern block margin. · Block 2 - 400m to 200m line spacing shows a conductive folded sequence evident in south-eastern corner of the block. A separate conductive response coincides with the margin of the New Finish prospect. · Block 3 - 400m to 200m line spacing shows a very strong conductive response shown along the north- eastern margin of the block, this is likely to be a stratigraphic response. A number of discrete moderate strength anomalies occur immediately southwest of the stratigraphic response. Final survey data is expected in four weeks which will enable a more thorough interpretation, and a detailed assessment of the discrete anomalies identified in the preliminary dataset. Fine Fraction Surface Sediment Sampling: Analytical results have been returned for 509 fine fraction (-75µm) stream sediment samples that were collected during July-August 2022 across E38/3262, E38/3265, and E38/3261. Elevated Gold and Carlin Score values coincide with the previously identified mineralised trends. Elevated copper assays highlight two new target areas. The northern anomaly at Cairn Hill Bore extends for 10km strike and is coincident with the Nanjilgardy Fault Zone. The southern anomaly at Seven Mile Bend extends the southern base metal trend from Ram Hole Creek to the south east into tenement E08/3262 . This work concludes the first pass reconnaissance surface geochemical sampling programme that commenced in the December '21 quarter with the collection of 1,211 surface samples. The final surface geochemical dataset of 1,720 fine fraction surface samples provides Cazaly with the first regional scale geochemical database across the entire tenement package, which will be used in conjunction with geophysics across the vast 2,450km2 project area to prioritise areas for further work. Assay results received in the March '22 quarter highlighted: · Two anomalous gold-copper mineralised trends extending over 50km in the northern project area, and · Strong base metal signatures highlighting the prospectivity of regional scale structures in the southern project area. The work to date has identified five new copper +/- gold prospects over significant strike lengths including: 10km at New Finish, 3km at Ram Hole Creek, 7km at Warden Pool, 5km at Seven Mile Bend and 10km at Cairn Hill Well located along the Nanjilgardly fault zone. Reported Earnings • Sep 23
Full year 2022 earnings released: AU$0.005 loss per share (vs AU$0.002 profit in FY 2021) Full year 2022 results: AU$0.005 loss per share (down from AU$0.002 profit in FY 2021). Net loss: AU$1.74m (down 343% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Sep 21
Cazaly Resources Limited Announces Diamond Drilling Completed at the Vanrock Project (QLD) Cazaly Resources Limited announced that diamond drilling of a single hole to test the Vanrock target has been completed at the Vanrock Project located in central north Queensland, 350km west of Cairns within the northern portion of the Townsville-Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria. Cazaly entered into an option agreement with Lynd Resources Pty Ltd. to acquire a majority stake in the Vanrock project based upon sole funding of a single drill hole into the Vanrock target. Funding assistance for this drill hole will be sourced from the Queensland Government's Collaborative Exploration Initiative (CEI), whereby $171,370 of the drilling costs will be reimbursed. The diamond hole was drilled to 521.2m to test a coincident magnetic and airborne EM anomaly, the Vanrock Target, located on the edge of a palaeo-caldera located at the edge of the TMIB. The diamond drill hole was collared at -60º towards 180º to penetrate the target close to perpendicular. The cover sequence was substantially less than modelled and consisted of clayey quartzose-feldspathic sandstone and sandy claystone and extended to 98m down hole, the underlying bedrock consisted of granodiorite, dacite, and quartz diorite. Two sulphide zones were intersected within the dacitic unit. Four metres from 211.95m to 215.96m down hole, sulphides were visually identified as sphalerite (zinc sulphide), galena (lead sulphide), and chalcopyrite (copper sulphide). A second sulphidic zone extends from 264.30m to 272.54m. Strong potassic alteration was logged adjacent to both sulphidic zones and was also noted to occur sporadically further down hole associated with carbonate +/- quartz veins. A quartz diorite with disseminated pyrrhotite was intersected at 302.5m and correlates well with the modelled magnetic unit, evidenced by elevated magnetic susceptibility readings. The drill core has been transported from the Vanrock Project area to Townsville for cutting, processing and laboratory analysis. The Vanrock Project is considered to have potential for Andean - type silver tin zinc copper lead mineralisation. Polymetallic discoveries have been made undercover by Gold Aura Ltd, now Crater Gold Mining Ltd, at the A1 & A2 prospects located to the southwest of the project, near Croydon where massive sulphides were intersected. The Vanrock target is characterised by a magnetic high on the margin of a large caldera 30km in diameter. The targeted Andean-style deposit model is typically defined by the association of late stage intrusives and mineralisation that displays as discrete magnetic highs located close to the margins of large caldera complexes. Previous drilling in the TMIB has confirmed alteration and mineralisation in the district akin to the Tier 1 Cerro Rico de Potosi deposit in Bolivia, one of the world's largest silver-tin deposits, which contains 5 billion ounces of Silver (Ag) and 1.5 million tonnes of Tin (Sn). Announcement • Sep 07
Cazaly Resources Limited Commences Diamond Drilling at Vanrock Project in Central North Queensland Cazaly Resources Limited announced that diamond drilling has commenced at the Vanrock Project located in central north Queensland, 350km west of Cairns within the northern portion of the Townsville-Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria. Vanrock Polymetallic Project (Option to earn in): The diamond hole is planned to an approximate depth of 500m to test a coincident magnetic and airborne EM anomaly, the Vanrock Target, located on the edge of a palaeo-caldera located on the edge of the TMIB. The Project is considered to have potential for Andean - type silver tin zinc copper lead mineralisation. Polymetallic discoveries have been made undercover by Gold Aura Ltd, now Crater Gold Mining Ltd, at the A1 & A2 prospects located to the southwest of the project, near Croydon where massive sulphides were intersected, "widths varying from 2 to 13m downhole containing potentially economic concentrations of Zn (1.35 to 10.13%), Ag (32.7 to 642g/t), Sn (0.12 to 0.63%) ± Pb (0.25 to 2.1%) and/or Cu (0.13 to 0.57%). Cazaly entered into an agreement with Lynd Resources Pty Ltd. to acquire a majority stake in the Vanrock project based upon the terms outlined in the ASX announcement dated 20 July 2022. Preliminary results have been received for an airborne Electromagnetic (EM) survey completed in early August across the Vanrock Project using XciteTM, a high-resolution helicopter borne time domain electromagnetic and magnetic survey system. Eight lines were completed in total for 40km on a 500m line spacing. 4 lines were completed across the Vanrock target, and 4 lines were completed across a lookalike target on EPM27085 located 10km to the southeast of the Vanrock Target. The Xcite survey was completed to provide more detail on the original airborne EM anomaly identified by Geoscience Australia. Final survey data and interpretation is pending. Announcement • Aug 16
Cazaly Resources Limited Announces Exploration Update Cazaly Resources Limited announced that RC drilling has been completed at its Halls Creek Project located 25km southwest of Halls Creek in the East Kimberley Region of Western Australia whilst activities have advanced at the Vanrock Project located in central north Queensland, 350km west of Cairns within the northern portion of the Townsville-Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria. RC drilling has been completed at the Halls Creek Project. A total of 19 holes were drilled for 4,049m to test the Moses Rock EM conductor and the Bommie Porphyry Copper System. 16 holes were drilled for 3,395m to test the continuity of broad copper intercepts across the Bommie Prospect on an approximate 100m x 100m grid. The Bommie Prospect is located 2.5km southwest of Mount Angelo North and is interpreted as a large low grade copper system with significant drill intercepts. The prospect has an extensive surface geochemical signature which provides further encouragement for a large mineralised system. All priority drill holes were completed. A decision to complete the second priority drill holes will be made following the receipt of all assay results and the estimation of a maiden inferred mineral resource. Announcement • Jul 25
Cazaly Resources Limited Provides Exploration Update on Ashburton & Yabby Projects in the Pilbara Region of Western Australia Cazaly Resources Limited announced that exploration has advanced at its Ashburton Project, located in the Pilbara region of Western Australia; and at the Yabby Project, in the north-eastern goldfields of Western Australia, near Laverton. An Airborne Electromagnetic (AEM) Survey is expected to be flown this week across several targets at the Ashburton Project, and in addition, surface sampling of fine fraction soils and streams has recommenced. Cazaly holds the rights to a major land position covering more than 2,450km2 in the Ashburton Basin. The project covers major regional structures considered to be prospective for large mineralised systems. The AEM survey is designed to fly 275-line kilometres across three blocks. Block 1 will test an area along the Nanjilgardy Fault with anomalous historical surface geochemistry. The Nanjilgardy fault is a major regional scale structure marking the boundary between the Capricorn Orogen and the Pilbara Craton. The structure is associated with significant deposits including Black Cat's Paulsen's gold mine and Kalamazoo's Mount Olympus gold mine. Blocks 2 and 3 will refine broad TEMPEST AEM anomalies identified in publicly available government survey data. Block 2 is also coincident with anomalous gold results at the New Finish prospect. Following a long period of wet weather in the Ashburton, including 111mm rainfall in May, the ground has sufficiently dried out to allow for the collection of 600 fine fraction soil and stream sediment samples across untested areas. This work will complete the surface geochemical sampling programme that commenced in the December '21 quarter with the collection of 1,211 surface samples. The analytical results will: provide a regional scale geochemical database across the tenement package, refine, previously identified structural targets areas, and provide sufficient information across the vast 2,450km project area to prioritise gold and base metal targets for further work. Assay results received in the March '22 quarter highlighted two anomalous gold-copper mineralised trends extending over 50km strike and a strong base metal mineralised trend in the southern half of the project area. The Yabby project covers 16km of the highly prospective Laverton Greenstone Belt and has potential for new gold discoveries. Tenements are positioned 10km west of Laverton, and directly west of the Chatterbox shear zone host to several gold mines currently owned by Focus Minerals. In addition, the Lady Julie gold deposit,located along strike to the south, shows encouraging signs for a newly emerging mining centre with gold mineralisation extending from surface with recent drill results including 22m @ 4.1 g/t Au from surface, and 16m @ 5.59 g/t Au from 20m. Infill Surface Geochemical Sampling: The initial surface sampling programme was completed on a 400m x 200m grid and identified several gold mineralised trends orientated N-S to NNE on E38/3425. The recent phase of infill surface geochemical sampling completed at the end of May 2022 included 246 samples and reduced the sample spacing to 200m x 50m across anomalous gold trends. The results show well defined surface anomalies suitable for drill testing. Analytical results have now been received for all infill surface samples collected at the Yabby project. Announcement • Jun 17
Cazaly Resources Limited Provides Exploration Update on Halls Creek Project Cazaly Resources Limited announced RC drilling has commenced on priority drill targets at the Halls Creek Project located 25km southwest of Halls Creek in the East Kimberley Region of Western Australia. The drilling at Moses Rock will test an EM conductor targeting another massive sulphide deposit. Moses Rock is located 5km to the southwest of the Mount Angelo North Cu-Zn-Ag Resource with significant intercepts including 64m @ 2.72% Cu & 1.13% Zn. Drilling will also be conducted at the Bommie Prospect located 2.5km southwest of Mount Angelo North is interpreted as a large low grade porphyry copper system with significant drill intercepts including 170m @ 0.4% Cu. Announcement • Jun 08
Cazaly Resources to Be Deleted from Other OTC Cazaly Resources Limited will be deleted from Other OTC effective June 08, 2022. The deletion is due to Inactive Security. Announcement • Jun 02
Cazaly Resources Limited Provides Exploration Update At the Yabby Gold Project Cazaly Resources Limited announced that infill lag sampling has been completed across four anomalous surface geochemical gold targets at the Yabby Prospect located 10km to the west of Laverton in the north-eastern goldfields of Western Australia. Sampling was designed to follow up gold anomalies identified in the initial sampling programme completed in January 2022. The initial surface sampling programme was completed on a 400m x 200m grid and identified four separate gold mineralised trends orientated N-S to NNE on E38/3425. The latest phase of surface geochemical sampling completed last week was designed to reduce the sample spacing to 200m x 50m. 246 samples were collected across the anomalous gold zones with analytical results expected to take approximately 8 weeks. The NNE trending gold anomalies show the same orientation as the adjacent Chatterbox shear zone host to Apollo, Whisper & Eclipse gold deposits mined by Focus in the 2010's. Gold mineralisation is also evident 4km to the south along strike at Magnetic Resources Lady Julie gold project. The Yabby project covers 16km2 of the highly prospective Laverton Greenstone Belt and has potential for new gold discoveries. Tenements are positioned directly west of the Chatterbox shear zone host to several gold mines currently owned by Focus Minerals. The total mineral resource estimate for Focus Laverton open pittable gold projects is 57.8Mt @ 1.54g/t for 2.8Moz. The Lady Julie gold deposit shows encouraging signs for a newly emerging mining centre with gold mineralisation extending from surface with recent drill results including 22m @ 4.1 g/t Au from surface, and 16m @ 5.59 g/t Au from 20m. Announcement • May 24
Cazaly Resources Limited Announces Exploration Update Halls Creek Project Cazaly Resources Limited announced that earthworks have been completed in preparation for drilling at the Halls Creek Project located 25km southwest of Halls Creek in the East Kimberley Region of Western Australia. In addition, a drilling contractor has been secured following completion of the heritage survey in late April. The Bommie Prospect located 2.5km southwest of Mount Angelo North is interpreted as a large low grade copper system with significant drill intercepts. The prospect has an extensive surface geochemical signature which provides further encouragement for a largemineralised system. Approximately 2000m of RC Drilling is planned to test the continuity of broad copper intercepts across the Bommie Prospect on a 100m x 100m grid spacing. Several deeper holes have also been planned to test the system at depth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Jonathan Downes was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 28
Cazaly Resources Limited Provides Yabby Project Update Cazaly Resources Limited announced analytical results have been received for surface samples collected at the Yabby Prospect located 10km to the west of Laverton in the north-eastern goldfields of Western Australia. Several N-S and NNE gold mineralised trends have been identified in first pass reconnaissance surface samples. The initial sampling programme consisted of 209 lag samples collected on a broad spaced grid, 400m x 200m across the entire project area. Geochemical interpretation of multi-element data is underway and infill sampling will be planned to refine surface geochemical anomalies to generate drill targets. The project covers 16km2 of the highly prospective Laverton Greenstone Belt and has potential for new nickel and gold discoveries. Tenements overlie the interpreted continuation of the mineralised ultramafic host to Poseidon's South Windarra nickel mine and are positioned directly to the north of the Lady Julie gold deposit where gold mineralisation extends from surface with recent drill results including 22m @ 4.1 g/t Au from surface, and 16m @ 5.59 g/t Au from 20m. Reported Earnings • Mar 17
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.002 (up from AU$0.001 loss in 1H 2021). Net income: AU$897.2k (up AU$1.30m from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Mar 07
Cazaly Resources Limited Notifies Nathan McMahon Vacated His Position as A Director Cazaly Resources Limited notified shareholders that Mr. Nathan McMahon has vacated his position as a director of the Company due to personal reasons. Nathan was a founder of the Company upon its inception in 2003 and has served as Managing Director and a Director of the Company since that time. As an original Board member, he has been instrumental in driving the Company forward utilizing his sound business acumen with a will to succeed. The staff and Board of the Company will greatly miss Nathan's energy and leadership and sincerely wish him the best in the future and look forward to a continuing association with him as a major shareholder. Announcement • Jan 22
Cazaly Resources Limited Announces That the First on Ground Regional Exploration Programs Were Completed Across the Yabby Tenements, Located in the North-Eastern Goldfields Near Laverton, and Across the Recently Granted Tenements on the Ashburton Project, Located in the Pilbara Region of Western Australia Cazaly Resources Limited announced that the first on ground regional exploration programs were completed across the Yabby tenements, located in the north-eastern goldfields near Laverton, and across the recently granted tenements on the Ashburton Project, located in the Pilbara region of Western Australia. A total of 1,211 surface samples were collected across the Ashburton Project during November and December 2021 to: provide a regional scale geochemical database across the tenement package, refine, previously identified structural targets areas, and provide sufficient information across the vast 2,450km2 project area to prioritise gold and base metal targets for further work. In addition, 23 rock chip samples were collected where outcrops showed visual signs of significant vein material, alteration or sulphide mineralisation. All samples were submitted to the laboratory in December 2021, however due to significant delays with laboratory processing, analytical results are not expected until mid February 2022. Cazaly holds the rights to a major land position covering more than 2,450km 2 in the Ashburton Basin, in the Pilbara region of Western Australia. The project covers major regional structures considered to be highly prospective for major gold mineralisation and occurs in the region hosting Northern Star's Paulsen's gold deposit and Kalamazoo's recently acquired Mount Olympus gold deposit. The Yabby tenements are located 10km to the west of Laverton in the north-eastern goldfields of Western Australia. The project area covers 16km2 of the highly prospective Laverton Greenstone Belt and has potential for new nickel and gold discoveries. Tenements overlie the interpreted continuation of the mineralised ultramafic host to Poseidon's South Windarra nickel mine and are positioned directly to the north of the Lady Julie Gold deposit where gold mineralisation extends from surface with recent drill results including 22m @ 4.1 g/t gold from surface, and 16m @ 5.59 g/t gold from 20m. Field work consisted of the collection of 209 lag samples on a 400m x 200m grid across the entire project area to identify targets for follow up exploration. Samples have been submitted to the laboratory in Perth for multi-element analysis. A turnaround of approximately 12 weeks is expected. Recent Insider Transactions • Oct 06
Executive Director recently bought AU$89k worth of stock On the 5th of October, Clive Jones bought around 2m shares on-market at roughly AU$0.045 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$168k more in shares than they have sold in the last 12 months. Reported Earnings • Oct 01
Full year 2021 earnings released: EPS AU$0.002 (vs AU$0.005 in FY 2020) Full year 2021 results: Net income: AU$716.8k (down 58% from FY 2020). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
Cazaly Resources Limited Provides Halls Creek Project Update Cazaly Resources Limited provided dDrilling at the Halls Creek Copper Project is completed with all RC samples sent to the laboratory for analysis. Diamond core is currently being processed and will be sent to the laboratory as soon as possible. In all a total of eight reverse circulation (RC) drillholes and one diamond core hole were drilled. The drill programme was successful in identifying potential mineralisation and the Company will provide further details once all assays have been received. The planned electromagnetic (EM) survey has been deferred due to circumstances out of Cazaly's control including delays on other projects and crew breaks. The EM survey is now due to commence in approximately two weeks' time which will also include a downhole EM survey of the diamond hole. Announcement • May 29
Cazaly Resources Limited Announces Drilling and Geophysical Surveys to Commence at Halls Creek Copper Project Cazaly Resources Limited announced that it has secured the services of a drilling contractor and geophysical ground crews to bring forward planned work at the Halls Creek Copper project located in the Kimberley region of Western Australia. Drilling is now scheduled to start early next week commencing with RC holes and pre-collars before changing to finalise some holes with diamond core. Planned drilling will initially test a strong downhole EM (DHEM) conductor and other down dip and along strike targets for undiscovered mineralisation previously defined at the Mount Angelo North Prospect. Drilling will also test possible strike extensions of the VMS mineralisation to the north of the deposit including testing a previously defined highly chargeable IP anomaly. The RC/diamond drilling program will comprise up to ten holes. Additionally, the company has also secured the services of a geophysical crew working in the region nearby. It is expected that planned ground EM surveys will commence in approximately two weeks' time. Work is proposed at identifying deep conductors within the immediate footprint of the Mount Angelo VMS system testing below the main known copper-zinc mineralisation and exploring the mineralised stratigraphic sequence along strike to the north of the Mount Angelo Cu-Zn deposit. The Halls Creek Copper project is situated near the township of Halls Creek located in the Kimberley region of Western Australia. The project covers approximately 45 square kilometres and hosts the Mount Angelo Copper-Zinc deposit, an extensive zone of near surface oxidised Cu-Zn mineralisation overlying massive Cu-Zn sulphide mineralisation. Previous results from work conducted by Cazaly at Mount Angelo included; 64m @ 2.72% Cu (1.13% Zn), 62m @ 2.41% Cu (2.75% Zn), 37m @ 2.63% Cu (6.05% Zn), 16m @ 5.91% Cu, 18m @ 2.53% Cu. A newly completed project review, complemented by recent fieldwork, has highlighted the upside potential of the project. Ground magnetics and mapping has further defined the untested northern extensions of the host sequence including mapping out of the important Banded Iron Formation capping unit. Furthermore, previously defined downhole EM conductors have yet to be drill tested whilst several other prospective areas have been identified based upon geochemistry and structural and stratigraphic associations. Following the company's successful applications, funding for the drilling will be supported by the State Government's Exploration Incentive Scheme (EIS). The EIS is a local State initiative that aims to encourage exploration in Western Australia. The company looks forward to announcing further details and results from the programmes as it progresses. Announcement • Apr 26
Cazaly Resources Limited Announces Fieldwork Commences at Halls Creek Copper Project Cazaly Resources Limited announced that following the recently completed full acquisition of the Halls Creek Copper Project, fieldwork has now commenced for the 2021 season. The project is situated near the township of Halls Creek covering part of the Halls Creek Mobile Zone and is highly prospective for a range of commodities and covers approximately 45 square kilometres. The project hosts the Mount Angelo Copper-Zinc deposit, an extensive zone of near surface oxidised Cu-Zn mineralisation overlying massive Cu-Zn sulphide mineralisation. Previous results from work conducted by Cazaly at Mount Angelo included; 64m @ 2.72% Cu (1.13% Zn), 62m @ 2.41% Cu (2.75% Zn), 37m @ 2.63% Cu (6.05% Zn), 16m @ 5.91% Cu, 18m @ 2.53% Cu. The project also hosts a large lower grade copper deposit associated with a high level felsic intrusive at the Mount Angelo Porphyry prospect, now re-named the Bommie Porphyry prospect. The porphyry system is large with extensive intercepts of disseminated and occasional semi-massive sulphides. The Company previously completed first pass drilling at the prospect, located 2.5km to the south west of the Mt Angelo North deposit, with five reverse circulation (RC) holes. Mineralised intercepts reported included; 170m @ 0.40% Cu, 178m @ 0.30% Cu and 136m @ 0.31% Cu. Some higher grade intercepts within these included 23m @ 1.00% Cu and 7m @ 1.26% Cu, indicating potential for the delineation of higher grade zones in the system. Since finalising the acquisition, the Company has conducted a full review of all previous exploration on the project focussing on the Mount Angelo Cu-Zn deposit, its potential depth and strike extensions and the prospectivity of the nearby Bommie Porphyry prospect. There remains very good upside potential with mapping defining the untested northern extensions of the deposit including mapping out of the important Banded Iron Formation capping unit. Furthermore, previously defined downhole EM conductors have yet to be drill tested whilst several other target areas have been identified based upon geochemistry and structural and stratigraphic associations. Proposed work: a field crew has been mobilised to initially conduct geochemical soil surveys over several target areas including the strike extensions of the Mount Angelo deposit and over the Bommie Porphyry prospect and other target areas. Some doubt exists on the veracity of previous geochemical surveys and lines of check sampling and assaying will also be completed to test the veracity of this historic work. Other planned work includes a ground magnetometer survey and SQUID_EM lines targeting potential deep conductors within the immediate footprint of the Mount Angelo VMS system. The SQUID_EM survey also aims to test for additional lenses within the mapped sequence of prospective Koongie Park volcanics up to the Grunters prospect. Initial RC/DDH drilling is planned at the Mt Angelo North Prospect testing the downhole EM conductor target as well as the basal sea floor unit down dip of the known VMS mineralisation. A previous ground-based IP survey also identified a chargeability anomaly to the north-east of known mineralisation which has not been effectively tested to date. The RC/DDH drilling program comprises up to ten holes at the Mt Angelo North Prospect. A drilling rig for the programme has yet to be secured with surety however, the Company expects that drilling will probably commence in June/July whilst the SQUID_EM survey will commence the same time or potentially earlier. Drilling is also planned for the Bommie Porphyry prospect largely to test a chargeability anomaly present immediately north of modelled mineralisation and at depth where mineralisation is potentially offset along a fault. Evidence of structural controls on the higher grades zones will also be tested. Drilling will also test a possible skarn like target as well as interpreted extensions to the main porphyry body. Other drilling is planned to commence at the Grunters prospect targeting a coincident geophysical and geochemical anomaly along strike of the Mount Angelo VMS deposit. A defining feature of the Mount Angelo deposit is the recognition of a BIF unit which acts as a marker horizon within the VMS mineralisation. The unit represents seafloor sedimentation and is typically observed in volcanogenic massive sulphide deposits. This unit is seen in sporadic outcrops along strike for over 1km to the north of the deposit within felsic sediments which host the deposit mineralisation. This area is largely covered by surficial alluvium and has never been drill tested. Now that the company has regained control of the project it is pleased to have recommenced its exploration activities at the Halls Creek project and looks forward to announcing further details including the commencement of drilling and ground geophysical surveys. Reported Earnings • Mar 17
First half 2021 earnings released: AU$0.001 loss per share (vs AU$0.006 profit in 1H 2020) First half 2021 results: Net loss: AU$405.5k (down 122% from profit in 1H 2020). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Nov 20
Key Executive exercised options to buy AU$115k worth of stock. On the 19th of November, Nathan McMahon exercised options to buy 2.50m shares at a strike price of around AU$0.039, costing a total of AU$98k. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. Since December 2019, Nathan's direct individual holding has increased from 24.47m shares to 32.02m. Company insiders have collectively bought AU$630k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Oct 07
Woomera Mining Limited Commences Extensive Phase 2 Drilling Program Woomera Mining Limited announced that it has commenced its extensive Phase 2 Drilling Program at its 80% owned (20% Cazaly Resources Limited) Mt Venn Gold Project (Mt Venn) in the Eastern Goldfields of Western Australia. The Phase 2 drilling program targets several high-grade deposits at Mt Venn. Specifically, the program will target the Chapman's Reward, Lang's Find and Three Bears prospects. Chapman's Reward: Conduct a maiden RC drilling program in the vicinity of Chapman's Reward where findings of up to 201 g/t Au were reported and 26.7 ounces of gold has been historically mined. Although this area was previously inaccessible, the Prospecting Licences have now been amalgamated into Woomera's tenement; Lang's Find: Conduct a maiden AC drilling program to investigate the significant rock chip assays of 208 g/t, 61 g/t and 65 g/t and extensive soil and auger gold anomalies; and Three Bears: Extend the AC drilling program to determine the southern extent of the previously highlighted mineralised zone. Historically, the targets have been underexplored due to the geographically remote nature of the region and a lack of supporting infrastructure. Woomera is well positioned to continue its exciting exploration program due to a better understanding of the geology and the recent infrastructure investment in the region. The drilling program will commence with approximately 120 AC holes for approximately 5,000 metres at the southern portion of Three Bears and at Lang's Find. It will then roll into an RC program at Chapman's Reward and deeper follow up RC holes at Three Bears and Lang's Find. The drill hole locations are designed to complement previous drilling campaigns and test anomalous zones of soil and auger gold assays that are aligned with the Jutson shear, running north-south through the extent of the Mt Venn project area. Woomera has made significant progress in regards to its Phase 2 heritage clearances and approvals of Works Programs since its last update. The Department of Mines, Industry Regulation and Safety (DMIRS) has approved the Company's 57 hole RC drilling program at Chapman's Reward and its 119 hole RC program at Lang's Find. The Lang's Find RC program over prints a previously cleared AC program whilst an ethnographic survey over Chapman's Reward is scheduled for 13 October 2020 for completion by late October 2020. Due to the current travel restrictions imposed by Covid-19, Woomera has engaged highly experienced WA based contractors to manage and conduct the drilling program as guided by Woomera's Exploration Team. The Company's geological team established a mining camp at Mt Venn on Wednesday 30 September 2020 in advance of the drill crew arrival on 3 October 2020. The Company is well funded to execute on Phase 2 at Mt Venn following a successful capital raise of $1.9 million via a strongly supported placement and fully underwritten rights offer. The Company will also have access to up to $150,000 of funding towards its drilling costs arising from its successful application to the WA Government for an Exploration Incentive Scheme (`EIS') grant. The Company has submitted a second EIS application for the 2021 calendar year to the WA Government for a further $150,000 towards the drilling at Chapman's Reward. 
