Overview of Havilah Resources Limited's recent activities and objectives

Havilah Resources Limited (ASX: $HAV) is pleased to present its Activity Report for the 3 months ended 31 January 2024. The company has engaged Deutsche Bank to assist in finding a new partner to replace BHP in the Kalkaroo agreements. Additionally, Havilah has outlined key objectives for calendar year 2024, including seeking a joint venture partner for the Mutooroo PFS funding and project development, resource drilling and commencement of a mining scoping study on the western outcropping portion of the Grants Basin iron ore deposit, and exploration for sand-hosted uranium in the Namba palaeochannel and hardrock uranium and multi-commodity mineralisation in the headwaters of the Namba palaeochannel.

Executive Commentary on Kalkaroo Project and Exploration Activities

The Board is committed to monetising the Kalkaroo Project for a fair consideration. The copper-gold credentials of the Kalkaroo Project are impressive in an Australian market where there are limited large-scale copper open pit pre-development opportunities. Accordingly, Deutsche Bank was engaged to assist the Board in a sale process, including approaching parties who had historically expressed interest in Kalkaroo. The Phase 2 drilling program originally planned by OZ Minerals, that had the potential to substantially increase the Kalkaroo resource base, did not proceed post the BHP takeover. This uncompleted program remains as an obvious value adding and Kalkaroo Project enhancing opportunity, given that the orebody remains open and untested by drilling down-dip and along strike.

Summary of Activities and Outlook

Havilah Resources Limited has outlined its key objectives for calendar year 2024, including seeking to monetise the Kalkaroo copper-gold-cobalt project, seeking a joint venture partner for the Mutooroo PFS funding and project development, and exploration for sand-hosted uranium in the Namba palaeochannel and hardrock uranium and multi-commodity mineralisation in the headwaters of the Namba palaeochannel. The company's engagement with Deutsche Bank to monetise the Kalkaroo Project reflects its commitment to maximizing the value of its significant pipeline of exploration projects in South Australia. The ongoing activities and news flow during 2024 are expected to result in a continuous program of activities, subject to any unforeseen circumstances. Havilah's cash and cash equivalents as at 31 January 2024 were $3,483,675, and the company has engaged with interested parties for the Mutooroo Project Area exploration activities.