Overview of Constellation Resources' recent activities

Constellation Resources Limited (ASX: $CR1) has reported its Quarterly Report for the period ended 31 March 2024. The company's subsidiary, CR1 Energy Pty Ltd, has been conditionally accepted as the preferred applicant for six Special Prospecting Authorities with an Acreage Option (SPA-AO) applications over the Edmond-Collier and Yerrida Basin area in Western Australia. The applications are for exploring helium and associated gases. The company also announced promising results from soil sampling at the Orpheus Project, identifying nickel and copper anomalism, and successful placement to raise gross proceeds of $1.4 million.

Executive Commentary on Recent Developments

The Company's focus on evaluating new opportunities in the resources sector has led to the conditional acceptance of the SPA-AO applications, reflecting our commitment to exploring potential helium and associated gas systems. The successful placement to raise funds demonstrates the confidence of sophisticated investors and Directors and Officers in our projects. We are also excited about the promising results from soil sampling at the Orpheus Project, which further underlines the potential of our exploration activities in Western Australia.

Summary of Quarterly Report and Future Outlook

Constellation Resources' acceptance for the SPA-AO applications marks a significant step in its exploration efforts for helium and associated gases in Western Australia. The company's focus on evaluating new opportunities in the resources sector, both domestically and overseas, demonstrates its commitment to growth. With a strong capital position and ongoing exploration activities at the Orpheus Project and the Edmond-Collier and Yerrida Basins, Constellation Resources is well-positioned to pursue its corporate strategy and unlock the potential of its projects. The future work programs, including air-core drilling and regional soil gas sampling, indicate the company's proactive approach to exploration and development. Constellation Resources remains optimistic about its prospects and is dedicated to delivering value to its stakeholders.