OzAurum Resources (ASX:OZM) Announcement Summary

OzAurum Resources Ltd (ASX:OZM) has announced the signing of a 50:50 profit share agreement with Line Hydrogen Pty Ltd and BIM Metals Pty Ltd for the completion of the Mulgabbie North Heap Leach Feasibility Study. The study, fully funded by LHBM, is expected to take up to 12 months. If the study yields favorable economics, LHBM will operate and fund the proposed mining and heap leach operation with net cash to be split equally between OzAurum and LHBM.

Executive Commentary on Mulgabbie North Gold Project

I am very excited that Brendan James from LHBM has selected the Mulgabbie North Gold Project to fully fund the feasibility study and, if the feasibility study economics are acceptable, to obtain funding and operate a potential future heap leach mining operation at Mulgabbie North. Brendan brings a wealth of experience to the table in design, construction and operation of heap leach projects in Australia and overseas which helps in derisking the project for OZM shareholders. The White Dam heap leach in South Australia is an example of a highly successful gold operation that Brendan ran for a number of years. Coupled with his ambition to produce Net Zero Gold we are all excited to see the Mulgabbie North Project move forward and, potentially into gold production. As well we have identified new cross fault targets from the seismic interpretation the Company undertook a while back and / am keen to see us drilling these new areas to see what we can discover.

Summary of Mulgabbie North Gold Project Announcement

OzAurum Resources Ltd (ASX:OZM) has signed a 50:50 profit share agreement with Line Hydrogen Pty Ltd and BIM Metals Pty Ltd for the completion of the Mulgabbie North Heap Leach Feasibility Study, fully funded by LHBM. If the study yields favorable economics, LHBM will operate and fund the proposed mining and heap leach operation with net cash to be split equally between OzAurum and LHBM. The Mulgabbie North Gold Project, located in the Eastern Goldfields of WA, has a solid mineral resource base of 260,000 ounces of gold, with 64% in the Measured and Indicated category. The project is serviced by excellent infrastructure and has identified new cross fault target zones with potential for significant gold mineralization. The Company's CEO and Managing Director, Andrew Pumphrey, expressed excitement about the project's future and the potential for gold production. The agreement also outlines the key terms, including the ownership of assets and the break fee conditions. The Company anticipates that the Study and associated permitting will take approximately 12 months to complete.