Eastern Metals successful in securing government exploration credits

Eastern Metals Ltd (ASX: $EMS) has successfully secured an allocation of $910,750 in refundable tax offsets and franking credits through the Australian Government's Junior Minerals Exploration Incentive scheme for the 2024-25 income tax year.

Executive Commentary

The Company is pleased to announce that it has been granted $910,750 in exploration credits through the Australian Government's Junior Minerals Exploration Incentive scheme for the 2024-25 income tax year. This allocation of credits is available for potential distribution to eligible shareholders, providing an opportunity for them to receive refundable tax offsets and franking credits. We encourage individuals and entities who may be eligible to seek their own tax advice and explore the benefits of this incentive.

Summary and Outlook

Eastern Metals (ASX: $EMS) has successfully secured $910,750 in exploration credits under the Australian Government's Junior Minerals Exploration Incentive scheme for the 2024-25 income tax year. The allocation of credits is intended for potential distribution to eligible shareholders, offering them the opportunity to receive refundable tax offsets and franking credits. The Company expresses gratitude to the Australian Government for its support and acknowledges the Association of Mining and Exploration Companies for its advocacy on behalf of junior exploration companies in relation to the JMEI scheme. This initiative aligns with Eastern Metals' commitment to fostering investment in small Australian exploration companies and furthering greenfields mineral exploration. The Company looks forward to the potential positive impact of this incentive on its exploration activities and the broader industry.