Announcement PDF Greenvale Energy Limited Annual Report, 30 June 2026 Page | 1 ASX:GRV ANNUAL FINANCIAL REPORT YEAR ENDED 30 JUNE 2026 Greenvale Energy Limited Annual Report, 30 June 2026 Page | 2 ASX:GRV Table of Contents CORPORATE DIRECTORY 3 CHAIRMAN’S LETTER 4 REVIEW OF OPERATIONS 6 DIRECTORS’ REPORT 16 AUDITOR’S INDEPENDENCE DECLARATION 31 CONSOLIDATED STATEMENT OF COMPREHENSIVE 32 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 33 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 34 CONSOLIDATED STATEMENT OF CASH FLOWS 35 STATEMENT OF MATERIAL ACCOUNTING POLICIES 36 CONSOLIDATED ENTITY DISCLOSURE STATEMENT 60 DIRECTOR’S DECLARATION 61 INDEPENDENT AUDITOR’S REPORT 62 ADDITIONAL INFORMATION 65 Greenvale Energy Limited Annual Report, 30 June 2026 Page | 3 ASX:GRV CORPORATE DIRECTORY DIRECTORS Neil Biddle (Non-Executive Chairman) Elias (Leo) Khouri (Non-Executive Director) Alex Cheeseman (Managing Director) COMPANY SECRETARY Carla Healy REGISTERED OFFICE Ground Floor 41 – 47 Colin Street West Perth WA 6000 Tel: +61(0) 485 603 120 SHARE REGISTRY MUFG Level 12, 680 George Street Sydney NSW 2000 Tel: +61 2 82807111 AUDITORS RSM Australia Partners Level 7, 1 Martin Place Sydney NSW 2000 STOCK EXCHANGE Australian Securities Exchange Level 27 39 Martin Place Sydney NSW 2000 ASX CODE GRV WEBSITE www.greenvaleenergy.com.au Greenvale Energy Limited Annual Report, 30 June 2026 Page | 4 ASX:GRV CHAIRMAN’S LETTER Fellow Shareholders, The 2026 financial year was a pivotal period for Greenvale Energy, as we made significant progress in repositioning the Company as a uranium-focused exploration company with a growing footprint in one of Australia’s premier uranium provinces. Over the course of the year, we executed successfuldrillingandexplorationprograms at the Oasis Uranium Project, substantially expanded our position in the Northern Territory’s highly prospective Pine Creek Orogen and, moved to consolidate this position through the proposed acquisition of uranium rights over the Pine Creek Uranium Project. Together, these initiatives have provided Greenvale with greatly strengthened platform for growth and a clear strategy for the year ahead, which remains focused on building a portfolio of assets with the potential to benefit from the global transition toward secure, reliable and lower- emission energy while striving to crystallise value from our significant investment in the Alpha Project and continuing to apply disciplined capital management and maintain a strong focus on shareholder value. At the Oasis Uranium Project in Queensland, Greenvale completed its maiden drilling program, confirming the presence of significant uranium mineralisation. The results validated the project’s geological potential and provided valuable information about the scale, continuity and structural controls of the mineralised system. Subsequent geophysical, trenching and surface exploration programs considerably improved our understanding of the Oasis mineralisation and identified a broader pipeline of targets for future exploration. In the Northern Territory, Greenvale continued to build a substantial uranium exploration position within the highly prospective Pine Creek Orogen. The expansion of the Douglas River Project and the completion of a new airborne geophysical survey have provided the Company with a strong foundation for systematic exploration along an extensive and regionally important, mineralised corridor. Our increasing footprint in the Northern Territory represents an important point of difference for Greenvale. The NT is an established and supportive uranium jurisdiction with a long history of uranium exploration and mining, strong geological prospectivity and a government that recognises the importance of responsible resource development. These attributes provide a favourable setting in which to explore,develop and ultimately seek tobring uranium projects into production. This supportive jurisdictional environment is an important reason why Greenvale is directing substantial effort and resources toward its NT assets. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 5 ASX:GRV Our proposed acquisition of the uranium rights over the Pine Creek Uranium Project from Patronus Resources therefore represents a major strategic development for the Company. Subject to completion, the transaction will bring together Greenvale’s existing tenure with the high-grade Thunderball Uranium Deposit and a portfolio of advanced prospects and exploration targets. This represents an opportunity to establish a district-scale uranium project in one of Australia’s most recognised uranium provinces and has the potential to materially strengthen Greenvale’s position within the sector. This expansion comes at an important time for the uranium industry. The global nuclear energy outlook continues to strengthen as governments and major energy users increasingly recognise the pivotal role that nuclear power can play in delivering reliable, low-emission baseload electricity. At the same time, energy security and the need for secure Western supply chains have never been more prominent in the global conversation. This provides a supportive long-term backdrop for quality Australian uranium assets. Greenvale’s expanding Northern Territory portfolio positions the Company to participate in this opportunity through a combination of known mineralisation, advanced targets and extensive exploration potential. While uranium is now the clear strategic focus of the Company, we also continued to advance the Alpha Project in Queensland during the year. The Alpha technical program progressed from laboratory-scale testing into larger-scale bulk production and downstream product assessment. This work continues to advance Alpha’s potential as a future domestic source of bituminous products at a time when Australia remains heavily reliant on imports for critical road- building materials. Importantly, we maintained a disciplined approach to funding and capital allocation throughout the year. The support received from existing and new shareholders enabled us to advance our priority exploration programs, while government funding secured for further Northern Territory exploration provided additional endorsement of the technical merit of our work. We therefore enter the 2027 financial year with a significantly strengthened portfolio and a number of important catalysts ahead. Our immediate priorities are to complete the Pine Creek transaction, advance exploration across the expanded uranium portfolio and finalise the technical development of Alpha. While there is considerable work ahead, the progress made over the past 12 months has fundamentally strengthened Greenvale’s position. We have a clearer an expanding footprint in a world-class uranium province and increasing exposure to a commodity critical for future global energy needs. Greenvale offers shareholders exposure to a differentiated portfolio of energy-related assets, supported by clear development pathways and several potential value catalysts. The progress achieved during the year reinforces our confidence in the Company’s strategy and its capacity to create meaningful long-term value. On behalf of the Board, I thank our shareholders for their continued support and confidence in Greenvale, as well as our management team, employees, contractors and other stakeholders for their contribution during the year. We look forward to building on the momentum established in FY2026 and delivering the next phase of the Greenvale’s growth. Neil Biddle Non-Executive Chairman Greenvale Energy Limited Annual Report, 30 June 2026 Page | 6 ASX:GRV REVIEW OF OPERATIONS Overview During the financial year ended 30 June 2026, Greenvale advanced its project portfolio focused on uranium exploration and the development of projects aligned with future energy and critical infrastructure needs. The principal operational activities were undertaken across the Company’s uranium exploration portfolio, with work programs progressed at the Oasis Uranium Project in Queensland as well as the uranium projects located in the Northern Territory (Douglas River and Elkedra-Henbury). In parallel, the Company continued to progress the Alpha Project through Test Program 7 with work advancing from equipment commissioning through bulk production and downstream product assessment. The Company completed its maiden uranium drilling and follow-up surface exploration programs at Oasis and commenced the 2026 field season with high-resolution airborne geophysics towards the end of the year. In addition, the Company continued to expand its uranium portfolio with the announcement of a significant transaction, with terms agreed to acquire the uranium rights for the Pine Creek Uranium Project in the Northern Territory. The acquisition will consolidate a district-scale position around the Thunderball Uranium Deposit and establish Greenvale as one of the most dominant uranium exploration companies in the Northern Territory. Northern Territory Uranium Portfolio Greenvale's Northern Territory-focused strategy is centred on building a significant exploration and growth position in the Pine Creek Orogen, a province that hosts high-grade uranium resources and historical operations including Ranger, Rum Jungle and Coronation Hill. During the year, the Company expanded the granted tenure at the Douglas River Project, advanced target generation over the Hayes Creek Fault Zone and entered into a conditional transaction to consolidate a substantially larger project – the Pine Creek Uranium Project. Douglas River Project The Douglas River Project comprises granted licences and applications held under an agreement with Gempart, where the Company can earn a majority interest in the Project. In February 2026, Exploration Licence (EL) 34157 was granted for an initial six-year term. The licence adjoins the existing EL33670 and abuts the southernmost boundary of Patronus Resources’ Pine Creek Uranium Project. EL34157 also covers the southern extension of the Hayes Creek Fault Zone, directly along strike from the high-grade Thunderball deposit. Immediately after the grant of EL34157, Sentinel-2 multispectral data was acquired across the entire project area, with subsequent analysis and interpretation of identified radon and helium anomalies found to be coincident with low-resolution airborne radiometric uranium anomalies and key structural features. These relationships were considered analogous to the structural and geochemical setting at the nearby Thunderball deposit and provided an initial set of target areas across EL34157 that warranted further exploration. In June 2026, Thomson Airborne Geophysical Survey completed ~4,315 line-kilometres of high- resolution magnetic and radiometric surveying over EL34157. The survey was flown on east-west lines at 100m spacing and approximately 50m above ground level. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 7 ASX:GRV It covered the Hayes Creek Fault Zone and the contact between the Pine Creek Orogen and the Birrindudu/Daly Basins, in-filling older geophysical survey coverage and enabling further refinement of targets for field-based follow up. The processing and interpretation of the new survey data continued after year-end, along with the commencement of field-based exploration as shown in the figure below. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 8 ASX:GRV Proposed Pine Creek Uranium Project acquisition In June 2026, Greenvale executed a binding term sheet with Patronus Resources Limited to acquire the uranium rights over the Pine Creek Uranium Project. The project comprises granted exploration licences and mining leases covering an area of approximately 1,250km2 and includes the high- grade Thunderball Uranium Deposit, drill-ready targets and advanced prospects. When combined with Douglas River, the proposed consolidated footprint covers approximately 2,466km2 and is intended to be referred to as the Thunderball Uranium Project moving forward. The enlarged tenure includes a corridor of prospects along and adjacent to the Hayes Creek Fault Zone. Advanced target areas include Thunderball Extended, Moonraker, Goldeneye, and Corkscrew. A secondary zone, known as the Bella Rosa Trend and orientated on a more north- northeast/south-southwest fault, progresses southwards until it intersects with the Hayes Creek Fault and is associated with a number of uranium occurrences, including the historic Bella Rose Uranium Deposit. Burrundie Dome is another uranium prospect located to the east of the Thunderball/Hayes Creek trend and is a geophysical target which remains to be properly explored. Re-assaying of historic drill core and new drilling reported by Patronus in 2025 included very-high grade intercepts of up to 10m at 25,381ppm U3O8 (historical drill-hole TPCDD026) and 6m at 37,359ppm U3O8 (2025 drill- hole TB25DD004). As at 30 June 2026, the transaction remained subject to conditions including legal due diligence, shareholder approval for the issue of consideration shares, required third-party approvals, the execution of a formal Uranium Rights Agreement and applicable statutory, regulatory and ASX approvals. Work required to satisfy the remaining conditions continued after year-end. The Thunderball Uranium Project, including the Douglas River Project and Pine Creek Uranium Project areas is shown in the figure below. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 9 ASX:GRV Native Title, land access and stakeholder engagement The conversion of exploration licence applications to granted licences involved consultation with the Northern Land Council and the Wagiman, Waral and Jawoyn Peoples through the National Native Title Tribunal process. During the year, culturally significant areas were removed from ELA 33900 by the Northern Territory Department of Mining and Energy. These excisions did not affect the areas identified by Greenvale as priority exploration ground. In May 2026, Greenvale commenced direct negotiations with the Northern Land Council outside the Tribunal process. The Company continued to pursue agreements that protect culturally important areas while providing a practical framework for exploration. Stakeholder meetings were also conducted in Darwin and the Pine Creek region as the Company prepared for expanded field activity. This engagement with local stakeholders and the Northern Land Council continues. Elkedra-Henbury Project During the year, Greenvale combined the administration and reporting of the Elkedra and Henbury Projects to improve stakeholder engagement and exploration efficiency. At Henbury, airborne magnetic and radiometric data, which were acquired in 2024, were reviewed in a project-wide prospectivity analysis. Additional Sentinel-2 multispectral data were also acquired, identifying anomalies coincident with favourable geology and structure. A total of 21 target areas were selected for initial ground follow-up. Ground radiometrics, portable XRF analysis and geological mapping were completed over priority targets, including the mapping of a quartz-pebble conglomerate south of Target 2 associated with anomalous radiometric readings. Sentinel-2 datasets over the combined project continued to be interpreted. No further field work was completed in the second half of the year, as resources were focused on the Douglas River Project. Oasis Uranium Project – Queensland Greenvale holds 100% of the Oasis Uranium Project on EPM 27565 in north-west Queensland. The project contains historically defined uranium mineralisation associated with the Lynd Mylonite Zone.Fieldwork undertakenthroughoutthe year was designed to confirm historicalmineralisation, test strike and depth extensions, refine the structural model and assess the broader tenement for additional intrusive-related uranium systems. Maiden drilling program Drilling commenced at Oasis in late July 2025, with the program comprising 12 holes for 1,804m of combined Reverse Circulation and diamond core drilling. The program was completed in early September safely, on schedule and without incident. Drilling confirmed multiple zones of uranium mineralisation within biotite-chlorite schist shear zones, hosted by foliated granitic gneiss and high-grade metamorphic rocks. Chemical assays and spectral gamma logging confirmed high-grade intervals and showed that the system continues along strike and down-dip to depths exceeding 300m. The close correlation between chemical assay and spectral gamma results also indicated overall radiometric equilibrium, supporting the use of calibrated down-hole logging in future geological and resource modelling. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 10 ASX:GRV Standout results are shown in the table below. Hole ID Chemical Assay Intercepts Comments From (m) To (m) Thickness (m) Avg. U (ppm) Avg. U3O8 (ppm) 25GRV001 40 53 13 471.57 519.01 incl. 1m @ 1,637ppm U3O8from 40m; and 2m @ 1,273ppm U3O8 from 46m 25GRV002 84 92 8 1,805.85 2,124.70 incl. 5m @ 3,263ppm U3O8 from 84m, and 1m @ 6,929ppm U3O8 from 86m 25GRV003 279 284.5 5.5 612.23 721.94 incl. 2m @ 1,188ppm U3O8 from 279m; and 0.5m @ 1,838ppm U3O8 from 283m 25GRV004 62 64 2 486 573 incl. 1m @ 900ppm U3O8 from 63m 76.25 80 3.75 849.08 1,001.23 incl. 1m @ 2,423ppm U3O8 from 78m; and 0.25m @ 2,729ppm U3O8 from 79.5m 25GRV008 109.5 118 8.5 480.39 566.48 incl. 3.0m @ 1,276ppm U3O8 from 113.0m 25GRV009 64.5 66.5 2 1,042.91 1,229.80 incl. 1m @ 2,061ppm U3O8 from 65.5m 25GRV010 84 88.5 4.5 679.64 801.43 incl. 1.5m @ 1,685ppm U3O8 from 86.5m 25GRV012 249 250 1 363.62 428.78 High-resolution magnetics and trenching Following the completion of drilling at Oasis, a close-spaced ground magnetic survey over the deposit identified a network of cross-cutting north-south, northwest-southeast and northeast- southwest faults that had not been evident in earlier lower-resolution datasets. These structures are interpreted to be important controls on uranium mineralisation and have provided the framework to integrate drilling, surface geochemistry and trenching data. Six trenches totalling approximately 775m were excavated, mapped and sampled between October and November 2025. Trench positions were adjusted using real-time scintillometer readings. Background surface readings were generally below 350 counts per second (cps) west of the deposit, increasing eastwards and locally exceeding 2,000 counts per second.This distribution was consistent with a steep, westerly-dipping mineralised structure observed in drilling and core structural data. A total of 449 trench samples were submitted for analysis. Assays confirmed uranium mineralisation from surface along the Oasis Shear and adjacent structures. The program delineated a northern extension to the principal shear as well as parallel and cross-cutting mineralised trends, including a potential north-northeast to northeast structure associated with megacrystic K-feldspar-rich granites and biotite-chlorite schists. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 11 ASX:GRV These results generated step-out drill targets north, east and north-west of the existing deposit. The area south of the deposit requires further target development. The combined datasets are shown in the figure below. All trenches were rehabilitated at the end of the program, together with legacy trenches left by previous explorers and the drill pads and sumps created during Greenvale's 2025 drilling. The work was undertaken under operating and rehabilitation controls agreed with the local pastoralists. Regional prospectivity and next-stage targeting Greenvale completed a prospectivity assessment across EPM 27565 by integrating historical airborne radiometrics, reprocessed and new ground magnetic data, rock-chip geochemistry, structural interpretation and Sentinel-2 multispectral data. Analysis of the Sentinel-2 data identified helium and radon gas anomalies and chlorite alteration anomalies that coincided with radiometric, magnetic and structural features. Reconnaissance mapping and sampling were undertaken over radiometric and magnetic anomalies outside the immediate Oasis deposit area. A total of 33 rock-chip samples were collected from granitic outcrops. Sixteen returned more than 10ppm uranium and five returned more than 30ppm uranium. The highest result was 187.4ppm uranium from a diorite dyke Greenvale Energy Limited Annual Report, 30 June 2026 Page | 12 ASX:GRV approximately 4.5km north-east of the deposit. These results established uranium anomalism away from the known deposit and supported the interpretation of a broader granite-hosted mineralised system. Nine priority target areas were defined where multiple datasets aligned, together with a further seven areas of interest. Structural trends at these targets were consistent with the north-south and northeast-southwest orientations recognised at the Oasis deposit. The combined evidence supports an intrusive-related model associated with the Mywyn Granite, with uranium interpreted to have been mobilised and concentrated along structurally complex, chlorite-altered and mylonitic zones. The target areas are shown in the figure below. No further work was undertaken at Oasis during the second half of the year, as resources were directed to the Douglas River Project. Alpha Torbanite Project – Queensland The Alpha Project, located approximately 50km south of Alpha in central Queensland, contains a JORC Code 2012 Edition Inferred Mineral Resource Estimate of 28Mt of cannelite and torbanite, equivalent to an estimated 27.7 million barrels of synthetic oil. The current development program is focused on demonstrating a repeatable process capable of converting Alpha feedstock into a bituminous product suitable for the Australian market. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 13 ASX:GRV Test Program 7 scale-up and commissioning Test Program 7 was undertaken with Monash University and built on the laboratory conditions established during earlier University of Jordan programs (specifically Test Program 6). The initial phase involved procurement, modification and commissioning of specialist processing equipment. Procurement delays affected the early schedule, and Greenvale engaged a process engineering consultant to improve documentation of operating conditions, repeatability and the interface between laboratory work and broader process development. In December 2025, the specialist equipment was successfully commissioned and initial runs were completed. The program increased reactor capacity from the 100mL apparatus used in Test Program 6 to a 4-litre reactor, representing a 40-fold scale-up. A weekly technical review process involving Greenvale, its engineering consultant and Monash was established to assess run data and identify incremental optimisation opportunities. Parameters recorded included energy inputs, catalyst and carrier use and losses, retention time, agitation, product yield and product characteristics. Bulk production and process performance After commissioning the specialist equipment procured by Monash, the test program moved into repeated pressure-leach runs using consistent feedstock and operating conditions to generate a bulk sample. The production campaign achieved stable process performance. Optimisation reduced reaction retention time from 60 minutes to 30 minutes without compromising conversion or yield, while reactor modifications improved mixing and reduced residue. Across the program, conversion was approximately 99% and primary product yields were generally 30-35% by weight. The completion of bulk production marked a transition from product generation to product development, characterisation and refinement. The produced material was sent to Technix in New Zealand for assessment of flash point, boiling point distribution, viscosity, penetration, chemical composition, durability and density, and to define the most appropriate downstream refinement pathway. Product characterisation and C-170 pathway Technix’s initial assessment identified that the bulk sample contained approximately 35-40% volatile hydrocarbons. Atmospheric and vacuum distillation were used to remove these light-end fractions. Following distillation, the material passed flash point testing against the C-170 requirement under AS/NZS 2341.14 and recorded penetration results within the C-170 range. Viscosity at 60 degrees Celsius and 135 degrees Celsius remained below typical C-170 specification values. Technix therefore recommended a further processing stage using its Multistage Bitumen Process, which introduces reagents and additives under pressure to improve viscosity and penetration characteristics. This next work phase commenced after year-end and is ongoing. Tenure and land Management A compulsory 50% relinquishment of EPM 27718 was submitted in November 2025 in accordance with Queensland tenure requirements. The Company assessed that the retained area preserved the project's geological potential and its capacity for future resource-extension drilling. MDL 330, which hosts the declared Mineral Resource, remained current/unaffected by the relinquishment. Greenvale Energy Limited Annual Report, 30 June 2026 Page | 14 ASX:GRV Geothermal Projects – Queensland Millungera Basin Greenvale's Millungera Basin portfolio comprises EPG 2023, EPG 2024 and EPG 2025 in north-west Queensland. All three permits were granted during FY2026 for initial five-year terms expiring in 2030. The project is located in a region identified by Geological Survey of Queensland work as containing substantial stored thermal energy and is positioned within the broader north-west Queensland energy and minerals infrastructure corridor. In November 2025, Greenvale entered into a farm-in agreement with SRL Hot Rocks Pty Ltd, a subsidiary of Sunrise Energy Metals Limited. Under the agreement, SRL Hot Rocks may sole-fund up to $5 million of exploration and development expenditure to earn an 80% interest. The structure allows Greenvale to retain exposure to the project while preserving capital for uranium exploration and the Alpha development program. During the March Quarter, Sunrise Energy Metals announced a partnership with US technology company I-Pulse to deploy G-Pulse pulsed-power drilling technology at Millungera. No material field work was reported by Greenvale during the year. Longreach EPG 2029 at Longreach was granted in July 2025. Following a portfolio review, Greenvale initiated surrender procedures in early CY2026. The surrender was completed in June, with the Queensland Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development confirming the surrender and that the Company had no further obligations. Corporate, Funding and Sustainability Funding and capital allocation In late 2025, Greenvale raised approximately $1.9 million (before costs) through a placement to sophisticated investors and an oversubscribed Share Purchase Plan. The raising supported ongoing uranium exploration and Alpha technical work. The Company's $1.0 million unsecured at- call director finance facility remained undrawn throughout the year, and the Company reported no debt at year-end. Greenvale received a $359,000 research and development tax rebate relating to FY2025 during the March quarter. Expenditure on Alpha research and development during FY2026 was reported at approximately $600,000, with an estimated rebate of approximately $200,000 expected in the first quarter of calendar 2027. In June 2026 Greenvale was awarded matched funding up to $132,000 under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaboration program. The funding is intended to support an airborne electromagnetic survey over EL34157 in the second half of calendar 2026. The proposed survey will in-fill existing AEM coverage and improve resolution across the Hayes Creek Fault Zone and basin contacts. Board and management Alex Cheeseman, appointed Chief Executive Officer in May 2025, was appointed Managing Director in March 2026, and John Barr resigned as a Non-Executive Director at the same time. In Greenvale Energy Limited Annual Report, 30 June 2026 Page | 15 ASX:GRV May 2026, Carla Healy was appointed Company Secretary and Chief Financial Officer and the Company's registered office moved to Ground Floor, 41-47 Colin Street, West Perth. Stakeholder engagement and responsible exploration Stakeholder engagement continued across the Queensland and Northern Territory project portfolio. At Oasis, the Company worked with pastoralists on access, operating controls and full rehabilitation of drilling and trenching areas. The Company also sponsored the Greenvale Horse Sports Day in the Charters Towers region. In the Northern Territory, engagement and relationship development was ongoing with the Northern Land Council, local communities, government agencies and pastoralist. RISKS Greenvale is subject to several risks, including but not limited to: Risk Description Access to future funding There is no assurance that the funding required by the Company from time to time to meet its business requirements and objectives will be available to it on favourable terms, or at all. Access agreements The Company may need to seek various Federal, state or local permits and approvals to undertake exploration or mining activities on its projects. This could result in unforeseen delay in the undertaking of such activities. Exploration and development risk Exploration programs may or may not be successful, could cause harm to employees or contractors, and may incur cost overruns if not carefully managed. The Company is exposed to a significant risk that the proposed exploration activity will be unsuccessful and will not result in the discovery of a viable Mineral Resource. Potential acquisitions As part of its business strategy, the Company