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AusQuest Limited

 Multi-element geochemistry from maiden drilling program provides strong vectors towards a potential large-scale porphyry copper-gold system under shallow cover.

 Widespread copper veining and hydrothermal alteration intersected in Stage 1 drilling reflect the margins of a large nearby porphyry system

 Higher copper grades (up to 1.1% Cu) within thin tonalite porphyry dykes indicate potential for increased copper grades at the centre of the porphyry system.

 Strong evidence for supergene enrichment highlights the potential for high copper grades to be found beneath the shallow cover.

 Stage 2 Reverse Circulation (RC) drilling (~5,000m) to extend the copper-gold mineralisation planned to start in April 2025, followed by deep diamond drilling.

Drilling to extend Cangallo Cu-Au discovery

Summary