New Theseus Gold Copper Project Secured in Lachlan Fold Belt, NSW

I’m pleased to share with investors the next step in expanding our pipeline of drill targets across the Lachlan Fold Belt in New South Wales - the addition of the Theseus Gold and Copper Project.

Copper Search has been actively assessing opportunities in the district because it meets several of our key selection criteria: a strong mining jurisdiction, proximity to operating mines, and demonstrated economic scale potential.

Historical drilling confirmed the project's prospectivity, particularly around the Porters Mount Prospect, where there is clear evidence of gold-bearing epithermal mineralisation and associated textures. So, when the opportunity to acquire this ground arose, we moved quickly to secure it.

Our exclusive option over the southern half of the Theseus Project was made possible because the current holder, Rimfire Pacific Mining, is fully focused on its Scandium Project. The EL application over the northern half was lodged immediately after Newmont released the ground, and we look forward to assessing that opportunity, particularly their data, as it becomes available.

Our next step is to combine the large amount of historical data and leverage our strong technical team, as well as our proprietary machine learning techniques, to identify targets for final verification.

Importantly, the structure of the deal gives us the flexibility to make a fully informed decision — either to proceed with drilling or to walk away — before deploying significant amounts of shareholder capital.

We believe discovery success is the key to creating maximum shareholder value, and I look forward to the rest of 2025 as we continue to identify, secure, validate and develop our pipeline of drill targets across Australia and North America.

Managing Director Duncan Chessell