New Risk • Mar 24
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 17% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$2.1m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (186% increase in shares outstanding). Revenue is less than US$1m (AU$148k revenue, or US$103k). Market cap is less than US$10m (AU$7.42m market cap, or US$5.16m). New Risk • Mar 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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$2.1m free cash flow). Shareholders have been substantially diluted in the past year (186% increase in shares outstanding). Revenue is less than US$1m (AU$136k revenue, or US$95k). Market cap is less than US$10m (AU$10.3m market cap, or US$7.18m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). Announcement • Feb 23
PVW Resources Limited completed the acquisition of Southern Prospecting Pty Ltd. PVW Resources Limited agreed to acquire Southern Prospecting Pty Ltd for AUD 5.8 million on September 17, 2025. The consideration is comprised of AUD 5.6 million in stock and AUD 0.2 million in options. The stock portion consists of 200 million shares of PVW Resources. The options are exercisable at $0.025 each within two years of issue. The consideration securities (shares and options) will be subject to a voluntary escrow, with 25% freely tradeable from completion and the remainder released in three equal tranches at three, six, and twelve months post-completion. As part of the transaction, Southern Prospecting Pty Ltd holds exclusive options to acquire a 100% interest in each of the Cobb Creek Project, the Colorado Gulch Project, and the Silverstar Project. Concurrently, PVW Resources Limited will undertake a placement to raise AUD 2.5 million to fund the transaction and for general working capital.
Upon completion, Martin Walter and William Brown will be appointed to the Board of PVW Resources.
The transaction is subject to customary conditions, including the completion of due diligence, execution of formal contracts, a capital raising by PVW, and approvals from PVW shareholders, third parties and regulatory bodies.
PVW Resources Limited completed the acquisition of Southern Prospecting Pty Ltd on February 23,, 2026. The acquisition was completed following satisfaction of all conditions precedent, including due diligence, shareholder approvals, regulatory approvals and completion of the associated capital raising. On completion, Martin Walter, current Chief Executive Oficer of Southern Prospecting Pty Ltd, has been
appointed as a Non-Executive Director of PVW Resources Limited and Luis Azevedo has resigned as a Non-Executive Director of the Company. The Board considers the appointment of Martine Walter to materially strengthen PVW’s technical and commercial capability in advancing its US gold and silver portfolio. Board Change • Jan 05
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). CFO, Company Secretary & Non-Executive Director Joe Graziano is the most experienced director on the board, commencing their role in 2024. Independent Non-Executive Chairman David Wheeler was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. New Risk • Dec 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 75% This is considered a major 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 (22% average weekly change). Negative equity (-AU$563k). Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Revenue is less than US$1m (AU$75k revenue, or US$50k). Market cap is less than US$10m (AU$5.61m market cap, or US$3.76m). New Risk • Dec 03
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$563k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-AU$563k). Revenue is less than US$1m (AU$75k revenue, or US$49k). Market cap is less than US$10m (AU$3.73m market cap, or US$2.46m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • Nov 26
PVW Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 2.5 million. PVW Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 49,926,193
Price\Range: AUD 0.0165
Discount Per Security: AUD 0.00099
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 101,588,959
Price\Range: AUD 0.0165
Discount Per Security: AUD 0.00099
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Oct 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major 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 (21% average weekly change). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (AU$83k revenue, or US$55k). Market cap is less than US$10m (AU$8.46m market cap, or US$5.57m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Announcement • Sep 25
PVW Resources Limited, Annual General Meeting, Nov 20, 2025 PVW Resources Limited, Annual General Meeting, Nov 20, 2025. New Risk • Sep 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m (AU$83k revenue, or US$55k). Market cap is less than US$10m (AU$6.39m market cap, or US$4.21m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). New Risk • Mar 07
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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$1.7m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Revenue is less than US$1m (AU$72k revenue, or US$46k). Market cap is less than US$10m (AU$3.00m market cap, or US$1.90m). New Risk • Feb 20
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 19% 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 (19% average weekly change). Earnings have declined by 4.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m (AU$101k revenue, or US$64k). Market cap is less than US$10m (AU$3.39m market cap, or US$2.16m). Announcement • Jan 29
PVW Resources Limited Appoints Lucas Stanfield as Its Incoming CEO PVW Resources Limited announced that to welcome Lucas Stanfield as its incoming CEO. Mr. Stanfield will commence his role on 3rd February 2025. Mr. Stanfield has considerable experience in the development of rare earth projects. He was most recently with WA1, where he developed a comprehensive strategy to advance a single deposit from discovery to production. With Peak Resources, he was responsible for the development of the Ngualla Rare Earth Project in Tanzania from the first Mineral Resource through Scoping, Prefeasibility and Definitive Feasibility studies. His technical experience is complimented by his experience in managing project development and government relations in foreign jurisdictions, and experience in investor presentations and capital raisings. New Risk • Oct 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 97% This is considered a major 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). Earnings have declined by 4.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m (AU$101k revenue, or US$67k). Market cap is less than US$10m (AU$3.99m market cap, or US$2.66m). Announcement • Oct 16
PVW Resources Limited (ASX:PVW) completed the acquisition of Scanty Mineracao Ltda. PVW Resources Limited (ASX:PVW) signed a binding agreement to acquire Scanty Mineracao Ltda for AUD 6.2 million on July 25, 2024. As part of the acquisition, PVW will acquire 100% of issued capital of Scanty. The consideration consists of a cash payment of AUD 2.15 million, out of which, AUD 0.05 million was paid as an exclusivity fee on execution of the binding agreement, AUD 0.6 million in reimbursement of expenses incurred to date in respect of the Brazil Projects and AUD 1.5 million will be payable on subject to satisfaction of the Vesting Conditions. AUD 1 million through the issue of 40 million ordinary shares of PVW Resources, out of which 50% will be subject to a voluntary escrow period of 6 months and AUD 3 million through the issue of 120 million ordinary shares in the form of Performance Rights or earnout related payments.
The transaction is subject to approval of offer by acquirer shareholders and consummation of due diligence investigation. The deal has been approved by the board of directors of PVW Resources.
PVW Resources Limited (ASX:PVW) completed the acquisition of Scanty Mineracao Ltda on October 16, 2024. A part of the condition of the acquisition, the Company has paid AUD 0.65 million and issued 40 million fully paid shares. In line with this acquisition, the Company is also pleased to announce several strategic changes to its Board of Directors, Luis Azevedo joins the Board, Joe Graziano is appointed Non-Executive Director and will continue to serve as CFO and Company Secretary and David Wheeler has resigned from the Board. Announcement • Sep 26
PVW Resources Limited, Annual General Meeting, Nov 29, 2024 PVW Resources Limited, Annual General Meeting, Nov 29, 2024. New Risk • Sep 23
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 19% 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 (19% average weekly change). Earnings have declined by 4.6% per year over the past 5 years. Revenue is less than US$1m (AU$140k revenue, or US$95k). Market cap is less than US$10m (AU$3.31m market cap, or US$2.26m). Minor Risk Shareholders have been diluted in the past year (29% increase in shares outstanding). New Risk • Sep 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. 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 Risks Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m (AU$107k revenue, or US$72k). Market cap is less than US$10m (AU$2.67m market cap, or US$1.80m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Announcement • Jul 31
PVW Resources Limited announced that it expects to receive $1.15 million in funding PVW Resources Limited announced a private placement that it will issue 25,000,000 shares at an issue price of $0.02 per share for the gross proceeds of $500,000 and 32,500,000 shares at an issue price of $0.02 per share for the gross proceeds of $650,000 for the aggregate gross proceeds of $1,150,000 on July 30, 2024. New Risk • Jan 30
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 12% 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$5.5m free cash flow). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m (AU$123k revenue, or US$81k). Market cap is less than US$10m (AU$4.56m market cap, or US$3.01m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Announcement • Sep 27
PVW Resources Limited, Annual General Meeting, Nov 17, 2023 PVW Resources Limited, Annual General Meeting, Nov 17, 2023. New Risk • Jun 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 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 Less than 1 year of cash runway based on free cash flow trend (-AU$5.9m free cash flow). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m (AU$109k revenue, or US$72k). Market cap is less than US$10m (AU$6.60m market cap, or US$4.41m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Announcement • Feb 15
PVW Resources Limited Acquires Highly Prospective New Rare Earth Project in WA's Gascoyne Province PVW Resources advised that it has secured new exploration and growth opportunity in one of the world's most prospective emerging REE provinces, the Gascoyne Province in north-west Western Australia. The Company has entered into a purchase agreement to acquire a 100% interest in a portfolio of five exploration tenements located in close proximity to a number of recent REE discoveries and the new Yangibana rare earths mine (Figure 1). The 316km2 Project consists of one granted Exploration Licence and four Exploration Licence Applications in highly prospective parts of the Capricorn Orogen within the Gascoyne Province. Situated east of Gascoyne Junction township, the region has quickly become highly prospective for REE in a variety of geological environments. Hastings Technology Metals and Dreadnought have resource projects located approximately 120km north of PVW's closest tenement, while Kingfisher Mining has reported significant recent REE surface results within 15km along strike to the north-west from the same tenure. Other active explorers who have released very positive results in the region include Desert Metals and Krakatoa Resources. While in the Gascoyne Province PVW will focus on carbonatite and other hydrothermal REE mineralisation, the monazite sands and clay-hosted deposits being discovered regionally are also viable targets that will be explored. Key terms of the Gascoyne Project purchase agreement include: the acquisition of the project tenement holders (being Rare Metals Group Pty Ltd. and Tiger Metals Pty Ltd); on execution of the purchase agreement, the payment of $40,000 cash and the issue 1,578,189 PVW shares (subject to 6 month escrow) to the project vendors; on the earlier of the date of grant of the pending tenements and 6 months after execution of the purchase agreement, the issue to the project vendors of PVW shares to the value of $200,000 (at an issue price equal to the 10-day VWAP of PVW shares as at the date of issue), a further issue to the project vendors of PVW shares to the value of $200,000 (at an issue price equal to the 10-day VWAP of PVW shares as at the date of issue) in the event PVW's drilling activity at the project results in an intersection of at least 5 meters @ 5,000 ppm TREO; and payment of an asset introduction fee of 550,000 PVW shares (excl. GST) to CPS Capital Group Pty Ltd. Previous work over the tenements has not focused on REE and exploration in general is limited. Highly anomalous TREO results were returned by previous explorer Desert Mines and Metals in March 2012 during gold exploration activities. DMIRS Annual report A093121 reports 2 TREO anomalous BLEG (-2mm) stream sediment samples on now E09/2693 and one on now E09/2694. These surface samples provide confirmation of anomalous REE in the area. Announcement • Feb 14
PVW Resources Limited (ASX:PVW) entered into a purchase agreement to acquire Highly Prospective New Rare Earth Project in WA's Gascoyne Province for AUD 0.66 million. PVW Resources Limited (ASX:PVW) entered into a purchase agreement to acquire Highly Prospective New Rare Earth Project in WA's Gascoyne Province for AUD 0.66 million on February 14, 2023. On execution of the purchase agreement, the payment of AUD 0.04 million cash and the issue 1,578,189 PVW shares (subject to 6 month escrow) to the project vendors; on the earlier of the date of grant of the pending tenements and 6 months after execution of the purchase agreement, the issue to the project vendors of PVW shares to the value of AUD 0.2 million, a further issue to the project vendors of PVW shares to the value of AUD 0.2 million in the event PVW’s drilling activity at the project results in an intersection of at least 5 meters for 5,000 ppm TREO; and payment of an asset introduction fee of 550,000 PVW shares to CPS Capital Group Pty Ltd. Announcement • Feb 11
PVW Resources Announces Latest Assays Reinforce High-Grade Gold Potential at Tanami Gold Project, WA PVW Resources announced that final assay results from the 2022 drilling program at the 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia have further upgraded the project's gold potential, with one-metre resampling of 4m composite assays from the Watts Rise prospect returning high-grade results, and air-core drilling defining an extensive gold anomalous zone at Monte Cristo. The one-metre resampling was undertaken on significant 4m composite results from Reverse Circulation (RC) drilling initially announced in October 2022. The gold results reported in this announcement add to the exciting Rare Earth Element (REE) results reported from air-core drilling, reinforcing the Tanami Project's exceptional discovery potential. All assay results have now been returned from the 2022 drilling program at the Tanami Project, with a total of 132 RC holes for 10,727m and 357 air-core holes for 16,206m completed in the campaign. The RC drilling tested highly elevated surface rare earth mineralisation at both the Castella and Watts Rise prospects and further evaluated the area around historical gold results at Watts Rise. The occurrence of REE mineralisation and high-grade gold mineralisation at the same location is unique. The air-core drilling provided a first-pass test of the broader Watts Rise Castella regional targets, defined by PVW exploration activities in 2021 and 2022. Historical drilling to the south of the Castella area by previous explorers, including anomalous air-core results, highlighted the Monte Cristo prospect as a target for PVW. The regional air-core drilling program was primarily exploring for indications of REE, however, the drill lines and targets were also designed to test for gold mineralisation undercover, including extensions to the Monte Cristo prospect. The results reported demonstrate a 4km long gold anomaly, over multiple 400-600m wide spaced drill lines with drill holes spaced from 40-80m along the lines. Resampling of the significant 4m composite assays reported in October 2022 has shown high grade gold improving in grade and width at depth. Resamples are collected to provide a larger and better-quality sample, hence the increase in grade of some samples within anomalous intervals is expected in typical gold mineralized systems. At Watts Rise, the grade has been significantly improved, with some samples indicating a high-grade component to the mineralisation. Results returned from the 1m resamples continue to indicate significant widths, with a best result of 13m @ 3.72 g/t Au from 79m including a high-grade component of 2m @ 12.97 g/t Au from 79m. The 4m composite assays validated previous explorers' drill results and resamples provide an improvement in grade that supports further exploration both down plunge and along strike. The mineralisation is open at depth to the north-east and there is a likely structural offset along strike to the east which will be investigated by upcoming drilling in 2023. Structural mapping identified a large breccia zone at surface that has been identified as an REE exploration target. What influence this structure has on gold mineralisation is unknown and will be tested by 2023 exploration drilling. The extension of air-core drilling, which had been predominantly focused on REE, to test areas for anomalous gold has identified an anomalous trend with a strike length of approximately 4km. The anomaly represents a significant exploration target. PVW air-core drilling intersected the anomalous Killi Killi Formation schists and intrusive mafic units over 2km south of the Castella Project. The anomaly broadly coincides with the location of previous explorers' drilling at Monte Cristo. The wide-spaced air-core drilling provides the first-pass geological and geochemical coverage of the newly recognised prospective stratigraphy. Gold anomalous results in the drilling over multiple sections, confirm a saprolite /saprock hosted gold anomaly with a peak of 0.31 g/t Au (308ppb Au) from 68m at the end of the hole. During the course of the drilling, significant geological changes have been observed coinciding with elevated pXRF yttrium values, elevated TREO results and now elevated gold results. Follow-up infill and deeper drilling in 2023 will aim to locate the fresh rock source of the anomaly while extending the supergene anomaly. Announcement • Feb 09
PVW Resources Identifies Multiple Significant New REE Anomalies from Air-Core Drilling Completed in 2022 at its 100%-Owned Tanami Heavy Rare Earth and Gold Project in Western Australia PVW Resources announced that it has identified multiple significant new REE anomalies from air-core drilling completed in 2022 at its 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia, opening up exciting new opportunities for follow-up exploration in 2023. Following a lengthy wait for assay results, the Company has now received results from its extensive regional air-core program in 2022, successfully identifying new high-priority exploration targets and confirming the significant prospectivity of the Project. Importantly, the wide-spaced regional air-core drilling undertaken by the Company has proven to be a viable exploration technique for buried REE mineralisation in the Tanami. Detailed ground gravity has also proven to be a very effective exploration tool, with the areas surveyed at Watts Rise and Castella both revealing additional detail to the sub-surface that will complement drilling and magnetics. By utilising the structural geological interpretation, detailed ground gravity, multi-element geochemistry of mineralisation and the host stratigraphy, the shallow regional REE results represent complementary targets to the exciting new Watts Rise Breccia Zone target identified in 2022. The wide-spaced air-core (AC) drilling completed in 2022 has provided a first-pass geological and geochemical coverage of the prospective stratigraphy across the project area, including the regional Pargee Sandstone/Killi Killi Formation unconformity and the Killi Killi Formation stratigraphy, south of the unconformity. Yttrium readings recorded with the pXRF provided an indication of anomalous stratigraphy and structures that may host significant mineralisation (ASX PVW 24 October 2022, Latest assays confirm rare earths and gold potential at Tanami REE Project, WA). Multiple pXRF anomalies have been confirmed with air-core sample assays providing numerous targets for follow-up drilling. Targets are both related to the mineralisation at the unconformity and well beneath in the Killi Killi Formation. Importantly, new hosting lithologies have been observed coinciding with the anomalous TREO assays. Highly elevated TREO results are associated with veining and intrusive mafic lithologies logged during the air-core drilling and visible in the airborne magnetics. The recently identified style of mineralisation provides a new target to consider in future exploration campaigns. The geochemical knowledge (from both pXRF and assay results) gained from the regional air-core drilling provides a huge geochemical dataset. The interpretation of these datasets is ongoing and essential to the development of other exploration targets along the current 18km regional corridor and in other equally prospective areas of interest. The ground gravity surveys completed in late 2022 have been processed and the initial interpretation has highlighted several important outcomes. These include a marked gravity low associated with alteration coincident and adjacent to the Watts Rise REE anomaly. New target prospects with anomalous TREO will be tested with the ground gravity in future programs as a logical and iterative step to long-term exploration in the Tanami. Announcement • Nov 29
PVW Resources Identifies Significant New REE Exploration Target at its 100%-Owned Tanami Heavy Rare Earth and Gold Project in Western Australia PVW Resources advised that it has identified a significant new REE exploration target at its 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia following an important breakthrough by its exploration team. The high-priority exploration target has emerged as a result of reinterpretation of the structural geology around the unconformity-hosted REE mineralisation intersected in the Company's recently completed 2022 drilling program at the Watt's Rise prospect. An extensive mapping program conducted by a leading consultant geologist has resulted in the identification of a north-west oriented Breccia Zone which is a possible control on REE mineralisation in the area. As a result, a new target has emerged based on the interpreted extension of this structure at depth where it intersects the unconformity at a high angle. Tanami Project review - REE The recent completion of the 2022 field campaign, comprising 10,727m of Reverse Circulation drilling, 16,206m of air-core drilling, ground gravity surveys and detailed mapping of the Castella and Watts Rises prospects has put PVW in a very informed position for its 2023 exploration program. Positive drill results combined with initial mapping outcomes have already identified new REE targets. The full review of all levels of data is due in January 2023 and will be the pre- requisite to identifying and providing the technical support for new targets. The REE mineralisation model at the Tanami is an unconformity/structurally controlled HREE system which is constantly being refined and developed as more geological data is acquired. During the 2022 exploration program, PVW tested the unconformity for mineralisation at both Castella and Watts Rise. At Watts Rise, REE anomalism was intersected along the unconformity at the contact between the Killi Killi Formation and Pargee Sandstone, and higher-grade mineralisation in the Pargee Sandstone approximately 50-60m stratigraphically above this unconformity. During the recent mapping program led by consultant geologist, Carl Brauhart, the brecciated structure north of the Watts Rise mineralisation was highlighted. This structure is approximately 1km long and up to 5m wide and disappears undercover to the north-west and south-east. Field maps are currently being digitised into a GIS format for use on plans and sections. When putting the mapping and interpretation into context with the drilling results at Watts Rise, a significant new REE target emerges. Mineralisation at the unconformity and in the Pargee Sandstone. The breccia zone mapped as dipping to the south-east, is sub-parallel to 2022 drilling and therefore the conceptual location has not been tested by current drilling. While the structure is not mineralised at surface, it could control mineralisation along the unconformity and within the Pargee Sandstone. The breccia at surface displays intense silicification and a level of brecciation not seen elsewhere within the Pargee Sandstone, which suggests the breccia could serve as a REE fluid pathway and a feeder to the system. In addition, a geochemical discontinuity appears between holes drilled either side of the interpreted position of the breccia zone. A distinct increase in aluminium content is seen in drill holes within the interpreted footwall when compared to those in the hanging wall of the breccia zone. Mineralising fluids migrating up the structure from depth could intersect the unconformity and suitable host rock within the Pargee Sandstone or Killi Killi Formation and precipitate REE mineralisation as is evident in the 2022 drilling results (max 1.43% TREO @ 63m, 90% HREO/TREO, 22TARC101). This could potentially leave the segment of the breccia structure near surface devoid of REE mineralisation. Importantly, the segment of breccia structure (1) below the unconformity in the Killi Killi Formation represents a part of the system that could host untested mineralisation. The size of the structure and continuity away from the mapped outcrops (down-dip and along strike) is uncertain, however based on the interpretation, the target is clearly a priority for the Company's next drilling campaign. Ground gravity survey interpretation, due in December 2022, will be useful in further developing this target. Recognition of the difference between the well-defined mineralisation at Watts Rise and the more dispersed mineralisation at Castella highlights a number of important points: Based on current information, the unconformity/Pargee Sandstone host at Watts Rise has provided a better trap for REE mineralisation. The mineralisation intersected so far at Castella represents dispersed mineralisation along the unconformity. The unconformity and immediately adjacent lithologies have acted as a suitable host over a large area, however a local control (chemical or rheological) that potentially controls and constrains the REE mineralisation has not been intersected While breccia zones have been intersected in drilling and mapped at Castella, they are locally not large enough to develop significant REE mineralisation. However, their presence and the fact they are mineralised suggests there is a larger controlling structure nearby. There are a number of other general observations and comments made following the initial mapping outcomes. Drilling at Watts Rise this year was orientated to the south. This is sub-parallel to the dip of the breccia structure. The drilling was correctly oriented targeting the unconformity, however the breccia structure needs to be drilled with holes dipping towards the north-east, orientated to target the south-east dipping structure. Schematic diagram based on observations and field measurements, and further modelling will refine this interpretation. It needs to be noted that structures of this nature could be inconsistent and irregular at depth, influenced and moved by other local and regional structures. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Colin McCavana was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 24
PVW Resources Limited Announces Assays Confirm Rare Earths and Gold Potential At Tanami PVW Resources report further positive assay results from its maiden Reverse Circulation (RC) drilling program at the 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia. Further significant results have been returned in the latest batch of assays, confirming the potential of the project to host rare earth as well as gold mineralization, which has been confirmed with significant new intersections extending the known gold zone at Watts Rise. At the same time, pXRF analysis of regional air-core drilling has outlined extensive new REE target areas, further strengthening the Company's exploration pipeline in this emerging area. The 2022 drilling program is now complete with a total of 132 RC holes completed for 10,727m and 357 air-core holes for 16,206m. Importantly, the 4-month program was completed without incident - a credit to the PVW exploration team and the Prospect drill crew. Prospective REE host stratigraphy intersected in regional air-core drilling, with a variable sequence comprising Pargee Sandstone and Killi Killi Formation unconformity, mafic intrusive and altered gneissic granites within the Killi Killi Formation. There are numerous assays pending with REE results returned for 66 RC holes, all 4m RC composite results returned, and gold and REE results for all air-core holes pending. REE assays will continue to be returned until December 2022, with the first 4m composite air- core results expected in approximately two weeks. 1m re-samples of anomalous 4m composites and air-core REE results are also likely to be returned between late November and January 2023. The RC drilling has tested highly elevated surface rare earth mineralisation at both the Castella and Watts Rise prospects and has further evaluated the area around historical gold results at Watts Rise. Announcement • Oct 04
PVW Resources Limited, Annual General Meeting, Nov 29, 2022 PVW Resources Limited, Annual General Meeting, Nov 29, 2022. Agenda: To consider election of directors. Announcement • Jun 28
PVW Resources Limited Announces Drilling Underway At Tanami Heavy Rare Earths Project PVW Resources advised that the Company's maiden drilling program has commenced at the 100%-owned Tanami Heavy Rare Earth and Gold Project in the Tanami region of the Northern Territory. The drilling program is expected to comprise approximately 10,000m of Reverse Circulation (RC) drilling and 25,000m of air-core (AC) drilling, with a primary focus on extending areas of known Heavy Rare Earth (HRE) mineralisation. RC drilling is now underway at the Castella prospect (previously named Killi Killi East), where rock chip sampling undertaken by PVW Resources in 2021 returned high-grade results of up to 12.45% Total Rare Earth Oxides (TREO). Following the completion of the Castella program, the RC rig will then move to the Watts Rise prospect, located 12km north-west of Castella, where rock chip results of up to 9.26% TREO have been returned. The RC program will be followed by AC drilling, which is expected to commence in September, targeting strike extensions at the Serpa and Nesa prospects. PVW Resources considers the entire 18km of unconformity that extends between Nesa in the north-west and Castella in the south-east to have a favourable geological setting for further HRE discoveries, with this area to be the core focus of ongoing drilling and exploration programs. Announcement • Apr 27
PVW Resources Limited Announces Exploration Underway at Tanami Heavy Rare Earths Project PVW Resources provided an update on the progress at the Tanami Heavy Rare Earth Project. Following delays due to the northern wet season and the high Covid infection rates within the Kimberley region, the Company is now able to return to the field and commence exploration activities. A Heritage Survey is scheduled for early May, which is the final approval required for the drilling program to commence. The exploration team is currently in the field with Cultural Monitors locating drill holes, access tracks and acquiring data on new targets and along strike from known mineralisation. This preparatory work will enable the drilling program to commence as soon as possible upon completion of the heritage survey. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Colin McCavana was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 14
PVW Resources Limited, Annual General Meeting, May 12, 2022 PVW Resources Limited, Annual General Meeting, May 12, 2022, at 10:00 W. Australia Standard Time. Location: At the offices of Pathways Corporate Pty Ltd Level 3, 101 St Georges Terrace, Perth, Western Australia Perth Australia Agenda: To consider and, if thought fit, to pass, with or without amendment, the following Resolution as an ordinary resolution: That the issue of 18,146,352 Tranche 1 Placement Shares to the Tranche 1 Subscribers is approved under and for the purposes of Listing Rule 7.4; to consider and, if thought fit, to pass, with or without amendment, the following Resolution as an ordinary resolution: that the issue of 5,603,648 Tranche 2 Placement Shares to the Tranche 2 Subscribers is approved under and for the purposes of Listing Rule 7.1; to consider and, if thought fit, to pass, with or without amendment, the following Resolution as an ordinary resolution: that the issue of 5,000,000 Performance Rights to George Bauk, a Director, and/or his nominee(s) is approved under and for the purposes of Listing Rule 10.11; and to consider other matters. Announcement • Apr 06
PVW Resources Limited announced that it expects to receive AUD 9.5 million in funding PVW Resources Limited announced a private placement of 23,750,000 shares at an issue price of AUD 0.40 per share for gross proceeds of AUD 9,500,000 on April 6, 2022. The transaction will include participation from existing and new institutional and new high net worth investors. The company will receive funding in tranches. For Tranche 2, the Company will seek shareholder approval at a meeting to be convened in May 2022. The company will issue 4,200,000 options exercisable at AUD 0.60 with an expiry date of two years from the date of issue Announcement • Mar 30
PVW Resources Limited Provides Update on the Metallurgical Sighter Testwork and Mineralogical Results at the Tanami Rare Earth Project PVW Resources Limited provided an update on the metallurgical sighter testwork and mineralogical results at the Tanami Rare Earth Project. The metallurgy and mineralogy go hand in hand and both studies indicate the xenotime mineralisation will be recoverable using known processing technologies. Studies on the five 20kg samples collected for metallurgical testwork by metallurgical consultants IMO are progressing well with encouraging results. The assay results of the five metallurgical samples were previously reported with an average HREO percentage of 80% including an average of 2,990ppm dysprosium oxide and up to 5,795ppm dysprosium oxide. Ore sorting and magnetic separation work on the samples is complete at a "sighter" level. The knowledge gained from these two steps will ensure ongoing flotation testwork is conducted on the most suitable material to achieve a higher-grade concentrate for downstream processing. Metallurgical test work: This initial test work program was conducted to confirm the amenability of the Tanami Rare Earth Project to known rare earth ore beneficiation techniques currently being conducted on other heavy rare earth ores within Western Australia and worldwide. The aim was to determine if there were any fatal flaws on a Master Composite ore sample which was generated from outcrop rock samples taken from various locations within the Killi Killi East Prospect. The Master Composite underwent initial ore sorting testwork at a course crush (<50 mm) on two different size fractions (-50+25 mm and -25+10 mm) using a common x-ray transmission technique to successfully separate the ore on the different mineral densities within the host rock. The initial success of this sighter test shows the potential for ore sorting to be used on a commercial scale and warrants further testwork to further optimise the various ore sorting techniques and to confirm their application on a commercial scale. The success of the ore sorting also indicates that other gravity separation techniques will be applicable post ore sorting providing PVW with further processing options. The Master Composite (composited from ore sorter products including tails, similar to the ore sorter feed) along with the four variability composites which were used to make up the Master Composite as well as an outcrop sample from Watts Rise were processed through a Wet High Intensity Magnetic Separation (WHIMS) unit (post grinding to 75 µm) at various magneticstrengths up until 10,000 Gauss. This test resulted in a continual increase in rare earth recovery with minimal decrease in rare earth grade as the magnetic strength was increased. This indicated the ore will be amenable to rare earth upgrade by magnetic separation possibly in combination with an ore sorter to significantly reduce the mass to downstream flotation. It also indicates that further increasing the magnetic intensity will increase the rare earths recovery with minimal further impact on the concentrate rare earth grade. Mineralogical studies: A key to understanding the metallurgical results is understanding the mineralogy. To improve the current understanding of the Killi Killi East mineralisation seven hand-sized rock chipsamples collected in the 2021 field programme were selected for Micro-X-ray Fluorescence (XRF) spectroscopy using the Bruker M4 Tornado Plus spectrometer and imported into Advanced Mineral Identification Classification Software (AMICS). This technique allows for the acquisition of quantitative and qualitative geochemical data at high resolution (micron-scale) paired with manual mineral interpretation to confirm minerals identified using AMICS spectra analysis and to establish mineral abundance. These studies have confirmed mineralisation in multiple styles in both the Pargee Sandstone (TATO002) and the Killi Killi Formation (TATO006). The Pargee Sandstone (TATO002) is an effective host rock for mineralisation, given the porosity and permeability of the conglomerate beds. The Killi Killi breccia (TATO006) contains several distinct structures which are geochemicallyunique, which suggests multiple stages of extensive hydrothermal fluid movement and xenotime precipitation. Regional REE Target: The contact between the Pargee Sandstone and the Killi Killi Formation is a regional-scale unconformity of over 18km strike length and is considered prospective for hydrothermal unconformity-related REE mineralisation, examples of which occur across a large part of the Birrindudu Basin (eg. Browns Range, Boulder Ridge). The two main prospect areas, Killi Killi East and Watts Rise occur 12km apart and are both located close to the contact between thePargee Sandstone and the Killi Killi Formation. PVW Resources exploration program will target faults and structures that transect the regional unconformity and potentially act as conduits for mineralising fluids. Deposits of the hydrothermal unconformity-related style can have a small areal footprint (<200m) which may require detailed geological mapping and close spaced drilling. As part of the drilling program in April, regional targetsalong the unconformity between Watts Rise and Killi Killi East will also be tested. These regional targets are currently still being finalised. Announcement • Feb 10
PVW Resources Limited Announces Phase 1 Aircore Drilling Commences At King of the West Project PVW Resources Limited announced phase 1 aircore drilling commences at king of the west project-Kalgoorlie. The main king of the west auger anomaly, a +2.0km x 1.2km wide+50ppb Au zone which remains open to the south, is being tested with aircore drilling. Phase 1 aircore drilling will target the main +2.0km x 1.2km anomalous zone with 100m spaced holes on 400m spaced lines. Phase 2 aircore (proposed for mid-2022) will be prioritized to infill Phase 1 drilling and target other anomalous zones within the current auger coverage. Other targets will be prioritized as required along strike to the northwest and to the southeast within the Scotia Kanowna Dome hinge zone, or where structure and host rocks are favorable. Announcement • Jan 12
PVW Resources Limited Provides an Update on Rare Earth and Gold Assay Results from the Field Program At the Tanami REE/Gold Project PVW Resources Limited provided an update on rare earth and gold assay results received from the field program completed in October 2021 at the Tanami REE/Gold project. The field program completed in October included rock chip sampling, reconnaissance geological mapping, soil sampling and ground radio metrics at the Killi Killi East and Watts Rise prospects. Results are still pending for the soil sampling program however assays have been received for the 23 rock chip samples, 20 of which were from Killi Killi East, one from Watts Rise and two from regional sampling. The new sampling results have now outlined a drill target with high-grade surface mineralization occurring over an approximate strike length of 800m at Killi Killi East 1 and at least 500m at Killi Killi East 2. The REE mineralization predominantly occurs within the Pargee Sandstone close to the unconformity with the underlying older Killi Killi Formation. Significantly, the most recent assay results have returned REE mineralization from what is interpreted to be brecciated and altered Killi Killi Formation (samples TARK0030, 0031, 0032). This suggests there is potential for mineralization within the Killi Killi Formation and hence a significantly more extensive target than previously thought. Three of the rock chip samples from Killi Killi East 2 also returned anomalous gold assays with assays of 3.13 g/t, 1.33 g/t and 0.58g/t Au (samples TARK0033, 0041, 0042). These samples were taken as follow-up to the gold assays of up to 8.94g/t and 4.43g/t Au from the August sampling program, with gold mineralization occurring in the Pargee Sandstone /conglomerate proximal to the unconformity. All the samples discussed above are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralized structure or zone. A new interpretation of geophysical data from the Watts Rise-Killi Killi East trend is nearing completion which will assist in drill targeting of the 18km long Pargee Sandstone - Killi Killi unconformity. Drilling is planned to commence in April at both Watts Rise and Killi Killi East, focused on the surface REE mineralisation identified to date as well as regional conceptual drill targets. Preliminary metallurgical studies are also currently underway with results expected in March. Killi Killi East: The rare earth mineralisation occurs mostly within a basal conglomerate unit of the Pargee Sandstone. Where mineralised, the conglomerate unit is often strongly hematitic but also displays silicification and brecciation in places. Field evidence suggests the mineralisation is both structurally and lithologically controlled. Cross-cutting structures possibly act as structural traps for mineralisation along this trend, with the basal conglomerate unit providing a suitable lithochemical host. Potential for REE mineralisation hosted within the Killi Killi Formation has also now been recognized. The drill program for Killi Killi East will be finalized once the geochemical soil sampling results have been received however the current rock chip results and geological mapping have defined drill targets of at least 800m and 500m strike length at Killi Killi East 1 and 2 respectively. Watts Rise: The Watts Rise prospect is located approximately 12km northwest of Killi Killi East. Only two rock chip samples were taken there in the October 2021 field program, one of which was a barren sample of Pargee Sandstone, for lithogeochemical purposes. The other sample returned an assay of 2.54% TREO which was proximal to a sample of 3.9% TREO taken in the August 2021 field program. The rare earth mineralisation at Watts Rise also occurs within a basal conglomerate unit of the Pargee Sandstone, close to the unconformity with the Killi Killi Formation. The drill program for Watts Rise will be finalised once the geochemical soil sampling results have been received. Regional REE Target: The contact between the Pargee Sandstone and the Killi Killi Formation is a regional-scale unconformity of over 18km strike length and is considered prospective for hydrothermal unconformity-related REE mineralisation, examples of which occur across a large part of the Birrindudu Basin (eg. Browns Range, Boulder Ridge). The two main prospect areas, Killi Killi East and Watts Rise occur 12km apart and are both located close to the contact between the Pargee Sandstone and the Killi Killi Formation. PVW Resources exploration program will target faults and structures that transect the regional unconformity and potentially act as conduits for mineralising fluids. Deposits of the hydrothermal unconformity-related style can have a small areal footprint (<200m) which may require detailed geological mapping and close spaced drilling. As part of the drilling program in April, regional targets along the unconformity between Watts Rise and Killi Killi East will also be tested. These regional targets are currently still being finalised. Announcement • Jan 09
PVW Resources Limited Announces Results of A Mineralogical Study Conducted on Rock Chip Samples from the Company's Tanami Heavy Rare Earth Project PVW Resources Limited announced the results of a mineralogical study conducted on rock chip samples from the Company's Tanami Heavy Rare Earth (HRE) Project. Seven samples from the rock chip sampling program completed in August, details of which were provided in the ASX announcement dated 13 October titled "Confirmation of high-grade Heavy Rare Earths at Tanami Project (100%), Western Australia", were selected for more detailed mineralogical studies. The study included Scanning Electron Microscope (SEM) analysis and polarising light microscopy (PLM). Analysis indicates the presence of xenotime in all samples that assayed greater than 1% TREO (six of the seven samples). A mineralogy study was completed by highly respected mineralogist Dr. Roger Townend of Diamantina Laboratories. A total of seven sub-samples were selected from rock chips from the Watts Rise and Killi Killi East prospects, taken during the August 2021 field program. Prospect locations from where the samples were taken are shown in Figure 4 below and the ASX announcement dated 13 October titled "Confirmation of high-grade Heavy Rare Earths at Tanami Project (100%), Western Australia" contains the sampling and full assay details of these seven rock chip samples. All samples submitted for mineralogy have elevated rare earth assays except TARK0004 which was selected due to the high-grade gold assay. The study included SEM analysis of all samples and polarising light microscopy studies of polished thin sections prepared from each sample. The study concludes that the HRE are predominantly associated with the phosphate mineral xenotime. In all samples except TARK0004 (which assayed 0.05% TREO) the presence of xenotime was detected. The light rare earths are predominantly attributed to the phosphate mineral florencite. This rare earth mineral assemblage has strong similarities with several of the rare earth deposits at Northern Minerals Browns Range Project, located approximately 80km to the north of Killi Killi. IMO have commenced metallurgical sighter test work on Killi Killi and Watts Rise samples. The samples comprise of four 20kg samples from Killi Killi East and one 20kg sample from Watts Rise. The test work will include ore sorting studies as well as magnetic separation and flotation trials. Results of this study are expected in March 2022. IMO are a respected metallurgical group with first-hand experience on developing and implementing test work programs on rare earth projects and in particular xenotime mineralisation. PVW selected Australia's large locally owned metallurgical services company - IMO - to be their metallurgical representatives for the Tanami Heavy Rare Earth Project. IMO are managing the beneficiation flowsheet development test work with the aim of creating a flowsheet which generates a high-grade heavy rare earth concentrate at an optimum recovery. IMO takes account of process economics and processing implications in not just the beneficiation circuit but also the downstream hydrometallurgical circuit. Announcement • Sep 08
PVW Resources Limited (ASX:PVW) completed the acquisition of Stark Resources Pty Ltd. PVW Resources Limited (ASX:PVW) executed binding terms sheet to acquire Stark Resources Pty Ltd on July 23, 2021. Pursuant to the terms, PVW will pay AUD 0.02 million in cash, 1.5 million ordinary shares in the capital of PVW, 0.85 million tranche A performance rights and 0.85 million tranche B performance rights. The transaction is subject to ASX approval and conclusion of satisfactory due diligence.
PVW Resources Limited (ASX:PVW) completed the acquisition of Stark Resources Pty Ltd on September 7, 2021. Announcement • Aug 25
PVW Resources Limited Announces the Commencement of On-Ground Field Work At the Tanami REE/Gold Project PVW Resources announced the commencement of on-ground field work at the Tanami REE/Gold project. The field program is focussed on visiting the historical drill areas at the Watts Rise and Killi Killi East prospects and conducting a ground-based review of surface geology and mineralisation that may exist. Over the next month, the company will complete an airborne survey for both gold and rare earths with the radiometric survey being a key tool in identifying further REE targets. The key driver of value in the Rare Earth industry are the magnetic RE's, being dysprosium, terbium, praseodymium and neodymium. They are the key ingredients to the superior Rare Earth Permanent Magnets used in many critical industries including defence, electric vehicles, and clean energy solutions. Rare Earths are critical metals to the US, China and many other leading economies who are focused on securing their own supply chain. Over the past three decades China has dominated the supply chain and have secured a number of projects around the world and strategic offtake agreements. Whilst have seen new projects reach production outside of China, the supply chain in its entirety has yet to be diversified. Many government incentives have been implemented in countries like the US, Japan and Australia to encourage the development of the Rare Earth supply chain. One clear gap in the front end of the supply chain is the diversity of Heavy Rare Earth production outside of China. The majority of the production remains Light Rare Earth dominant and the Northern Minerals Browns Range Pilot Plant is the large production of Heavy Rare Earths outside of China. This project is located to the north of the Killi Killi REE project in the Tanami. The previous holder of PVW's Tanami Project tenements, Orion Metals Limited (`Orion'), conducted gold and REE exploration at the Killi Killi East and Killi Killi West (now known as Watts Rise) prospects, located on E80/4029 and E80/4197 respectively, between 2010 and 2012. A detailed review and compilation of the REE exploration data from this program has now been completed by PVW. An initial rock chip sampling program was conducted by Orion at Killi Killi East in 2010. Anomalous rare earth and gold assay results were returned from this program which led to a first pass drilling program in late 2010 comprising 30 RC drill holes (KK001-KK030). Further drill programs were completed at Killi Killi East in 2011 and 2012 with 34 RC drill holes which were designed to test the lateral extent of REE mineralisation. The most significant REE results from the three programs are summarised in Table 1 below. Anomalous gold assay results were also reported from Orion's first RC drilling program at Killi Killi East. The drilling at Killi Killi (KK) East occurred over a broad area in excess of 2km in strike length with most holes being wide spaced and relatively shallow (<=40m). Two areas were highlighted and drilled more intensely with most of the rare earth mineralisation occurring within the interpreted basal conglomerate unit at shallow depths (<10m). The shallow mineralisation at both KK East 1 and 2 is open along strike to the east and west. At the Killi Killi East prospect the REE mineralisation is hosted in a basal conglomerate unit of the Pargee Sandstone which unconformably overlies the older Killi Killi Formation. This geological setting is analogous to that of the heavy rare earth (xenotime) deposits at Northern Minerals Browns Range Project and in particular the high-grade Dazzler deposit. The potential style of mineralisation at Killi Killi East is hydrothermal unconformity-related REE mineralisation, examples of which occur across a large part of the Birrindudu Basin (eg. Browns Range, Boulder Ridge). The proportion of heavy rare earths to total rare earths at Killi Kilii is in the range of 20-40%, and the critical elements used in high performance magnets, neodymium and praseodymium, make up around 25-35% of the total rare earths. Petrological studies conducted by Orion identified two main rare earth minerals, the heavy rare earth mineral xenotime and the light rare earth mineral florencite. This combination of minerals provides a favourable mix of rare earth elements in terms of the in-demand elements used in the manufacture of magnets. The drilling results to date at Killi Killi East do not adequately explain the extent of the surface rare earth mineralisation outlined to date. PVW Resources exploration program will target faults and structures that transect the regional unconformity and potentially act as conduits for mineralising fluids. Deposits of the hydrothermal unconformity-related style can have a small areal footprint (<200m) which may require detailed geological studies and close spaced drilling. Nineteen RC drill holes (KK031 KK049) were also completed by Orion in 2011 at the Killi Killi West prospect to test a uranium radiometric anomaly for REE which returned some anomalous gold results. Follow-up drilling was completed at Watts Rise in 2011 and 2012 with another 17 RC drill holes (KK050-KK058, KK109-KK116). Only weakly anomalous REE results were returned, with the REE mineralisation again mostly hosted in a basal conglomerate unit unconformably overlying the older Killi Killi Formation. Hydrothermal unconformity-related REE deposits are a class of REE deposits that have a similar geological setting to unconformity-related uranium deposits of Australia and Canada. The most well known examples are at Browns Range where mineralisation occurs as xenotime-rich veins and breccias close to a regional unconformity between Archean metasediments and overlying younger Proterozoic sandstones. The deposits formed at 1.65 to 1.61Ga (Nazari-Dehkordi et al, 2018) along or adjacent to steeply dipping faults that transect the unconformity. The Killi Killi East prospect shares many geological similarities with this style of mineralisation. Announcement • Aug 05
PVW Resources Limited Announces the Results from the RC Drill Program Completed in April at Jungle Well PVW Resources Limited announced the results from the RC drill program completed in April at Jungle Well with further results from remaining 21 holes including: 11m @ 1.89 g/t Au from 86m. including 2m @ 7.73 g/t Au from 87m, 2m @ 5.44 g/t Au from 74m, including 1m @ 10.1g/t Au from 75m, 6m @ 1.69 g/t Au from 86m, including 2m @ 4.75 g/t Au from 90m, 2m @ 3.58 g/t Au from 106m, 11m @ 0.67 g/t Au from 78m. The highlight intersection reported previously (ASX:PVW, 24 Jun 2021 High Grade Gold in RC Drilling at Jungle Well) from this RC program of 9m @ 3.87g/t from 45m including 2m @ 16.13 g/t Au is from oxide material located 50m north of the Jungle Well open pit. The area immediately north of the existing open pit was not adequately tested due to a 2-3m high waste stockpile which prevented drill rig access. Sufficient results have been returned to commence data analysis and required interpretation that will be used in an updated Mineral Resources Estimate. Next steps will include addition of 4m Composite resample results to grade and geological models, metallurgical test work, and pit optimisation. Metallurgical test work will include the additional assessment of Heap Leach for processing. Heap Leach processing is a low-cost alternative negating the need for haulage to a toll treatment facility. Announcement • Jul 23
Yandal Resources Limited (ASX:YRL) agreed to acquire Exploration Licence E27/570 from PVW Resources Limited (ASX:PVW). Yandal Resources Limited (ASX:YRL) agreed to acquire Exploration Licence E27/570 from PVW Resources Limited (ASX:PVW) on July 23, 2021. Under the terms of agreement of asset swap, Yandal Resources acquired Exploration Licence E27/570 from PVW Resources and PVW Resources Limited (ASX:PVW) acquired Exploration Licence E24/214 and Prospecting Licences P24/5266 – 5271 from Yandal Resources. Announcement • Jun 30
PVW Resources Limited Announces Leonora - Brilliant Well Exploration Update PVW Resources Limited announced that Follow-up and regional exploration drilling program is underway. Brilliant Well follow up Reverse Circulation (RC) and regional Aircore (AC) drilling has commenced, two rigs are testing high priority targets 400m RC drilling following up on significant AC results from 2019 drilling 5,000m AC drilling to test structural and geophysical targets in the north of the project area Drilling expected to be completed by July with assay results by the end of September quarter Exploration in the Leonora region continues with drilling underway at the Brilliant Well Project. Two drill rigs (RC and Aircore) have commenced, providing follow up RC drilling of significant AC results and AC drilling to test regional targets. North of the Brilliant Well prospect geophysical interpretation has provided numerous targets requiring first pass drilling. RC and Aircore drilling have commenced at the Brilliant Well Project to follow up highly anomalous Aircore results and to test structural and geophysical targets in the north of the tenement. Some 4km of strike over magnetic anomalies and large interpreted structures will be tested with Aircore drilling as first pass regional exploration with the majority of this 4km having never been drilled. The presence of transported cover of unknown thickness requires the use of Aircore drilling to test these regional targets. As well as the regional targets, current drilling activities aim to follow up recent mineralisation intersected by a small Aircore program completed by PVW in 2019. The 2019 drilling was aimed at testing a possible northwest trend to sporadic near surface mineralisation. Previous exploration had tested the regional north-northeast orientation while a northwest strike was inferred at the prospect scale. The north-northeast trend is considered regionally significant and is appropriate for regional exploration targeting. However, significant mineralisation was intersected on the interpreted northwest structure and this will be further investigated with RC drilling to confirm the orientation and the dip of what appears to be mineralisation traversing the regional structural trend Results from the 2019 program being followed up with RC drilling, include: 19BWAC007 4m @ 4.09g/t Au from 27m and 19BWAC006 6m @ 1.96g/t Au from 67m The Brilliant Well target orientation, in particular the northwest orientation, is potentially analogous to the Wonder North open pit (Bundarra Gold Project - 35km south of Thunderbox), where Northern Star Resources drilling has highlighted the growth potential of the shallow, open system, with the high grade shoot getting wider at depth; Northern Star reported drill results included 33.9m @ 4.2g/t, 20.0m @ 4.0g/t, 29.6m @ 2.7g/t and 42.8m @ 1.8g/t. Announcement • Jun 25
PVW Resources Limited Announces High Grade Gold in RC Drilling at Jungle Well PVW Resources Limited announced the results from the RC drill program completed in April at Jungle Well with further results pending from 21 holes. Positive results have been received from the first 12 drill holes with high grade assays returned from shallow oxide mineralization. The highlight intersection of 9m @ 3.87g/t from 45m (including 2m @ 16.13 g/t Au) is from oxide material located 50m north of the Jungle Well open pit. The area immediately north of the existing open pit was not adequately tested due to a 2-3m high waste stockpile which prevented drill rig access. Drill lines over the stockpile allowed RC rig access. Assay results for 12 holes have been returned from the program total of 33 holes (21JWRC024 - 21JWRC056), with results for the remaining 21 holes still pending. Following receipt of all assays, data analysis and required interpretation, the company will provide a revised Mineral Resource Estimation for the Jungle Well project in fourth quarter of 2021. RC drilling was completed in April 2021 at the Jungle Well prospect, totaling 33 holes for 2872m. Approximately 50m north of the existing open pit a small stockpile of oxide material has prohibited drilling access. Site works for this program allowed access to test beneath the stockpile with three lines of shallow RC drilling. Wet surface conditions prevented access to the western ends of the lines limiting up dip investigation of the mineralized intervals. Beneath the stockpile the oxide zones intersected by the drilling are often strongly ferruginous saprolite with quartz veining (up to 5%), which hosts the high- grade gold assays including 2m @ 16.13g/t from 46m. Geology intersected in most of the drilling corresponds to previous drilling with zones of quartz veining, sulphides (and oxides after sulphides) and structure intersected where the main mineralized shear zone was interpreted. Positive results from fresh rock beneath the existing pit and intersecting the extremities of the current Mineral Resource Estimate include 7m @ 1.85 g/t Au from 99m. The southernmost section drilled in this program has confirmed the mineralized shear is displaced by an apparent west block down movement on a steep easterly dipping structure. Assay results for 12 holes have been returned and reported here, the remainder are pending. Impact Drilling were contracted to undertake the drilling, successfully completing the drilling and exceeding production requirements. Samples were submitted to SGS in Perth for gold analysis by 30g fire assay. Southern Geoscience Consulting (SGC) have scheduled an MLEM geophysical survey team for July to undertake the ground survey north of Jungle Well. The ground survey will test for the extension of historical conductors that are considered prospective for gold mineralization. The survey follows on from successful historic EM results aiming to extend the conductors north or M37/135 in adjoining tenement E37/909. The potential of these conductors is demonstrated by the success of previous exploration diamond drilling. The drilling which aimed to test a strong conductor for Nickel mineralization, intersected a wide zone of sulphide mineralized porphyry with significant intersections including NJWD002 13.2m @ 1.74g/t Au from 276m and NJWD003 11.4m @ 0.33g.t Au from 225m. Announcement • Jun 17
PVW Resources Limited Announces Drilling Updates PVW Resources Limited announced the results from recent auger drilling on Kalgoorlie tenement E27/614 that have converted the King of The West geophysical target into several new drilling targets. Numerous anomalous trends have been outlined by the auger drilling with multiple results above 50ppb Au providing new drill targets. The southernmost anomaly is impressive, with a 1.2km portion of the 6km long line returning results 55-123ppb in samples collected at depths between 1 and 3m. Samples on three more lines to the north show a north-northeast regional trend with a lower order anomaly above 40ppb Au over 1.6km. Company geologists have re-visited the area to ensure the area is free from potential cultural influences, and to confirm the soil profile represents a suitable medium for auger sampling to be extended to the south. These results are timely with an Aircore drill rig currently drilling at the Black Flag Prospect, located on a separate trend around 7km southwest of the new results. Announcement • May 21
PVW Resources Limited Provides Exploration Activities Update on Tanami Project PVW Resources Limited announced a heritage survey was completed with traditional owners providing the approval for the airborne magnetic survey. The field trip was the first for PVW in the region and is an important step in building long-term relationships with important stakeholders. Subsequent to discussions in the field PVW has re-named the Killi Killi West Prospect to Watts Prospect and the Killi Killi Trend to Watts Trend (referring to Watts Rise a nearby topographical high point). As a first step to testing the rare earth (REE) potential of the Watts Trend, the geological setting of and exploration results from previous tenement holder, Orion Metals Limited (ORM), were investigated during recent field activities. The observations included validating some of the drill hole and outcrop data collected by previous explorers. These observations will assist in making an informed review of the ORM exploration results, with a focus on unconformity-related REE deposits. This work will be run in conjunction with the gold exploration program on the Tanami project, starting with an airborne magnetics and radiometrics survey to commence early in the next quarter. Geophysics Update: The Airborne geophysical survey will commence in July 2021. The survey will be approximately 16,000 line kms, with a 50m line spacing and 30m flying height providing the detailed geophysical data (magnetics and radiometrics) required to complete high resolution coverage of PVW's Tanami tenure. Southern Geoscience Consultants (SGC) will interpret the geophysical data (predominantly magnetics) at 1:50,000 scale across the entire project area, integrating all available relevant geoscientific information, allowing for the mapping of lithologies and structure. The detailed radiometric data will be particularly useful in identifying further REE targets across the entire Tanami project area. Additional detail at 1:10,000 scale will be carried out over focus areas. Detailed interpretation is proposed at to allow planning of drilling and detailed field activities, including ground geophysics and geochemical surveys over gold and REE prospects. The work will comprise the compilation of all available project and regional scale geoscientific data, including the processed aeromagnetic, radiometric, DEM, airborne gravity, satellite, government geology datasets and any company held data. Announcement • Mar 10
PVW Resources Limited Announces Update from Auger Drilling At Kalgoorie PVW Resources Limited announced update from Auger drilling at Kalgoorie. Auger drilling comprising up to 600 holes will test for near surface gold anomalism on two tenements E27/571 and E27/614, commencing immediately.
While this work was scheduled for Second Quarter 2021, a Kalgoorlie based auger drill rig has become available to complete the work. PVW will take advantage of this early availability to complete part of the programme, with the remainder continuing in Second Quarter 2021. Drilling will start on E27/571 with 100 holes planned at the southern end of the tenement and then move to E27/614; and Drill sites being finalised for drilling to commence at Leonora this month. The auger drilling programme aims to test prospective areas for near surface gold anomalism with approximately 600 samples. The sample spacing will be on a 100m x 200m grid for E27/571 and a 100m x 400m grid for E27/614. The sampling medium will be kept consistent where possible, with preference for carbonate rich material in the soil profile between 0.5m and 2.5m. Gold and multi-element analysis will ensure the exploration value gained from each sample is maximised. Tenement E27/571 straddles the same magnetic stratigraphy that hosts the Gordon Sidar and possibly the Palm gold deposits. Historic drilling has tested only a small portion of E27/571, and the auger aims to provide a systematic first pass test utilising accurate mulit-element geochemical analysis techniques. The area selected for testing within E27/614 has also received limited previous exploration Samples will be sieved to -2mm in the field, prior to collection, and then to an ultrafine particle size at the laboratory prior to assay. Results are expected within 3-4 weeks from sample arrival at the Perth based laboratory. Announcement • Mar 03
PVW Resources Limited to Announce the Completion of Desktop Work Aimed at Identifying and Improving Exploration Targets at the Jungle Well Project PVW Resources Limited announced the completion of desktop work aimed at identifying and improving exploration targets at the Jungle Well Project. Historical datasets are invaluable in the exploration process and this is an example of the use of historical data to improve and identify exploration targets. Activities being undertaken by Southern Geoscience Consultants (SGC) include planning for Fixed Loop Electromagnetic surveying (FLTEM) to refine drill targets over multiple conductors. Following completion of the FLTEM activities and interpretation, exploration drilling will aim to test and confirm the source of the conductors. Electromagnetic (EM) Surveys are a commonly utilised method of geophysical exploration for various commodities. Historical exploration at Jungle Well, targeting Nickel, has shown the method can be applied to sulphide hosted gold mineralisation. Historic ground EM datasets over the Jungle Well Project area have been restored from archive. Recompilation and review have been carried out by SGC to assess the quality of the data, processing, interpretation and target identification. Moving Loop Electromagnetics (MLTEM) surveying was carried out in 2002, resulting in the identification of multiple late-time conductors, labeled here as JEM01-10. This was followed by Fixed Loop Electromagnetic (FLTEM) surveying used to refine conductors JEM01 and JEM02. The MLTEM and FLTEM datasets are of good quality, providing a useful dataset along with conductivity-depth sections and plate models which were also completed at the time. Diamond drilling was utilised in 2002 2003 to follow up the two FLTEM conductors, and this was subsequently paired with Downhole Electromagnetic (DHTEM) surveying in 3 holes (NJWDD001-3) at targets JEM01 and JEM02. All three holes successfully intersecting the modelled plates with EM anomalies. Hole NJWD002 intersected the most significant result with 13.22m @ 1.74 g/t Au from 276m down hole. Importantly from a gold exploration perspective the host to this result was logged as a sheared porphyritic felsic rock type. This core is being accessed for detailed logging and sampling. EM has proven to be a useful tool at Jungle Well for supporting and extending the current interpretation and target identification. Any future surface geophysical assessment would additionally benefit from the use of a modern high power system. Conductors lie along the Jungle Well mineralised trend, and along parallel trends to the east where the magnetic data maps a complex series of folded and faulted bedrock units. Exploration activities will include further assessment of untested or poorly tested conductors JEM3-10, and JEM2 (north). Follow up activities will include FLTEM and /or drilling to test for sulphide-related mineralisation. More regional MLTEM maybe utilised along strike to the North to follow-up the open JEM02 and JEM04 anomalies to the north of the current survey limits. 