Providing exposure to potential Tier-1 mineral assets

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Canterbury Resources Limited (ASX code: CBY)

Canterbury Resources Ltd is an emerging resource company focused on creating shareholder wealth by generating and exploring potential Tier-1 copper-gold projects in the southwest Pacific, and has established a strong portfolio of projects in Australia, Papua New Guinea and Vanuatu that are prospective for porphyry copper-gold and epithermal gold-silver deposits. The Company is managed by an experienced team of resource professionals, with a strong track record of exploration success and mine development in the region.

Canterbury’s exploration focus is on several advanced assets that are at the drill testing phase – the Briggs porphyry copper project in Queensland, plus the Wamum, Ekuti Range and Bismarck porphyry copper-gold projects in Papua New Guinea. Each project provides the potential for the discovery and/or delineation of large-scale copper (±gold) deposits and significant resources have already been established at the Central Porphyry Zone (Briggs) and at the Idzan Creek and Wamum deposits (Wamum). The 100% owned Briggs, Wamum and Ekuti Range projects are being managed and funded by Canterbury, while the Bismarck Project is currently being managed and sole-funded by Rio Tinto Exploration (PNG) Limited as part of a Farm-In and Joint Venture Agreement.

IN AUSTRALIA,

Canterbury holds the Briggs & Mannersley tenements, acquired from Rio Tinto in 2017 (Rio Tinto retains back-in rights in the event of a major discovery), plus Fig Tree Hill. The tenements are located inland from Gladstone in an important porphyry belts and are prospective for large scale porphyry copper mineralisation. At Briggs, drilling by Canterbury has broadly outlined a large, low-grade copper system (142.8Mt at 0.29% Cu), with several higher grade features that will be targeted in future drilling.

IN PAPUA NEW GUINEA,

strategic tenement positions have been established. At the Ekuti Range Project, historic explorers completed limited drilling of narrow, high grade structures that are distal to a series of large scale porphyry targets, including the Ekoato prospect where drilling by Canterbury has encountered high grade gold-copper mineralisation. At the Wamum Project historic drilling has broadly outlined two significant copper-gold deposits and Canterbury has recently completed maiden Mineral Resource estimates – Idzan Creek (137.3Mt at 0.53g/t Au & 0.24% Cu) and Wamum (141.5Mt 0.31% Cu & 0.18g/t Au). These will be the subject of a forthcoming Scoping Study. Canterbury also holds tenements on Manus Island where Rio Tinto has earned a 60% joint venture interest. Work to date has identified large-scale buried porphyry copper-gold targets that will be further drill tested in the near term. Canterbury also owns the Ipi River Project covering porphyry copper-gold systems where geophysical and surface geochemical targets have been identified, but are yet to be drill tested.

IN VANUATU,

a strategic portfolio has been established covering areas that display geological similarities to the rich Hauraki Goldfield in NZ, but has received minimal attention from past explorers. An exciting drill target has been generated at the Tafuse epithermal gold prospect.

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