Key developments and progress at Classic Minerals Limited

Classic Minerals Limited (ASX: $CLZ) has made significant strides in the March 2024 quarter, including the application for a mining lease at the Forrestania Gold Project. The company also secured a facility to fund project development, further advancing its operations and strategic acquisitions.

Executive Commentary on Strategic Developments

We are pleased to announce the progress made in the March 2024 quarter, particularly the application for the mining lease at the Forrestania Gold Project. This strategic move aligns with our commitment to expanding our portfolio of tenements and advancing towards full-scale production. Additionally, securing the funding facility with AuResources AG demonstrates our dedication to expediting project development and enhancing our mining capabilities. These developments mark significant milestones for Classic Minerals as we continue to pursue our corporate strategy and operational goals.

Summary of Quarterly Activities and Outlook

Classic Minerals' application for a mining lease at the Forrestania Gold Project signifies a strategic move to expand its portfolio and advance towards full-scale production. The company's secured funding facility with AuResources AG reflects its commitment to expediting project development and enhancing mining capabilities. With inferred and indicated mineral resources of 8.41 Mt at 1.45 g/t for 391,417 ounces of gold, the Forrestania Gold Project holds significant potential. The company's prudent ways of raising working capital and the completion of the share consolidation further demonstrate its dedication to bringing the Kat Gap into production at the earliest opportunity. Looking ahead, Classic Minerals remains focused on sustainable mining practices, regulatory compliance, and the continued progression of its operational and corporate strategy.