CEL: Continued Drilling Success at El Guayabo - Ecuador

CHALLENGER EXPLORATION LIMITED

• Challenger Exploration Limited reports continued drilling success in El Guayabo concession, Ecuador, with significant results paving the way for a maiden Mineral Resource Estimate.
• Drilling extended the GY-A, GY-B, and GY-C anomalies in the 100% owned El Guayabo concession, indicating potential for significant resources and still open along strike and at depth.
• GY-B and GY-C appear to be joining to form one continuous 700-meter-wide zone of mineralization, with the Main Discovery Zone, GY-A, also remaining open at depth and along strike.

2023-05-18 08:49:00

CEL: CEL Signs MOU for Renewable Energy to Power Hualilan

CHALLENGER EXPLORATION LIMITED

• CEL signs MOU with YPF Luz for the supply of low-cost renewable energy to power Hualilan Gold Mine.
• CEL should execute a power purchase agreement if the price per kWh is under US 7 cents.
• YPF Luz is an Argentinian independent power producer with over 3.2 GW of installed capacity, including 468 MW of renewable generation.

2023-05-10 08:59:00

CEL: Regional Exploration - High Grade Gold 10km from Hualilan

CHALLENGER EXPLORATION LIMITED

• Initial exploration near Hualilan delivers high-grade gold and silver in multiple locations, including 54.4 g/t Au and 12.1 g/t Au in stream sediment samples.
• High-grade rock chip samples found in Andacollo and near the current resource boundary, indicating potential extensions and excellent grades.
• Challenger Exploration Limited seeks to build a district scale footprint around Hualilan, with promising results early in the program.

2023-05-01 09:06:00

CEL: Latest Results for Ecuador Yield 1.2 Kilometre Intersection

CHALLENGER EXPLORATION LIMITED

• Results from the next 6 holes on the GY-A anomaly reveal significant mineralisation, with the widest intersection measuring 1.2 kilometres.
• Mineralisation at the GY-A and GY-B anomaly converges into one large zone with over one kilometre true thickness and has now been defined from surface to 1100 meters depth.
• A maiden Mineral Resource Estimate is targeted for May, with 7 high-priority targets identified as potentially hosting a significant bulk gold resource.

2023-04-05 08:56:00

CEL: Upgraded MRE of 1.6Moz at 5g/t AuEq within 2.8Moz AuEq

CHALLENGER EXPLORATION LIMITED

• Upgraded Mineral Resource Estimate (MRE) increases to 2.8 million ounces (AuEq) at CEL's flagship Hualilan Gold Project.
• Significant increase in high-grade component with 1.6 million ounces at 5.0 g/t AuEq, providing flexibility for mining.
• Mineralization remains open in most directions, with potential for resource growth and exploration focusing on 25 kilometers of prospective strike.

2023-03-29 09:26:00

CEL: Outstanding Results from Drilling at Hualilan Gold Project

CHALLENGER EXPLORATION LIMITED

• Extension and infill drilling at Verde Zone delivering results
• Multiple high-grade mineralisation zones remain open at depth
• Exploration team now free to search for the next deposit

2023-03-21 09:11:00

CEL: Drilling Discovers Two New Zones at Hualilan Gold Project

CHALLENGER EXPLORATION LIMITED

• CEL has identified two new zones of mineralisation parallel to the Magnata Fault.
• The best result at Maganta was an intersection of 15.2 metres at 4.7g/t gold equivalent.
• An agreement has been entered into to acquire land containing the project and possible extensions to simplify permitting.

2023-02-20 09:41:00

CEL: Outstanding Results from Drilling at Hualilan Gold Project

CHALLENGER EXPLORATION LIMITED

• Extension and infill drilling at the Verde Zone continue to deliver outstanding results, including 42.0 m at 5.9 g/t AuEq
• GNDD-643 has filled a significant gap in the continuity of a lightly drilled area in the Central Verde Zone with an intersection of 70.0m at 1.0 g/t AuEq and 8.6m at 3.1 g/t AuEq
• Continued drilling is extending the footprint of mineralisation with several high grade intersections open at depth.

2023-02-07 09:06:00

CEL: Drilling Success Continues at El Guayabo Gold Project

CHALLENGER EXPLORATION LIMITED

1. 11 hole program targeting the next 8 regionally significant Au -soil anomalies in Ecuador completed with all holes intersecting mineralisation and discoveries on 4 of the 8 additional anomalies
2. First Phase 2 drill holes on the GY-B anomaly in the El Guaybo concession significantly upgrade GY-B with results including an intersection of 108.5m at 2.4 g/t AuEq incl 54.2m at 4.0 g/t AuEq
3. Phase 2 drilling, designed to allow the reporting of a maiden Mineral Resource Estimate on themain discovery Zone (GY-A anomaly), underway with 6 holes completed (assays pending)

2023-01-18 09:19:00