Exploration Efforts and Strategic Review Update

Perpetual Resources Limited (ASX: $PEC) successfully advanced exploration efforts in Brazil during the quarter, identifying significant lithium soil anomalies at the Itinga project area. The company also commenced exploration activities at Ponte Nova and Paraiso. Additionally, the Strategic Review at Beharra has been delayed to facilitate ongoing discussions with potential end users.

Executive Commentary

The results from our exploration activities in Brazil have been highly encouraging, with the identification of significant lithium soil anomalies at the Itinga project area. The commencement of exploration at Ponte Nova and Paraiso further strengthens our position in the region. We are also actively engaged in discussions with potential end users as part of the Strategic Review at Beharra, and we look forward to updating our shareholders on the outcomes by the end of the June quarter.

Summary and Outlook

Perpetual Resources (ASX: $PEC) has made significant progress in its exploration efforts, particularly in identifying substantial lithium soil anomalies at the Itinga project area in Brazil. The company's decision to commence exploration activities at Ponte Nova and Paraiso reflects its commitment to expanding its presence in the region. The delay in the conclusion of the Strategic Review at Beharra indicates the company's dedication to thorough discussions with potential end users. With a strong cash position and ongoing exploration activities, Perpetual Resources is well-positioned to capitalize on the identified opportunities and drive its exploration and development projects forward.