cr124038

This is the final report for work completed at EPM 19849 Moonmera. Rio
Tinto Exploration (RTX) was granted EPM 19849 on 12 April 2013 to explore
the Moonmera prospect for copper porphyry mineralisation. In February
2016 the tenement was transferred to GBM Resources Ltd. EPM 19849 was
purchased from Rio Tinto for an equivalent value in GBM ordinary shares
with the terms of the acquisition including a Net Smelter Royalty (1%) on all
minerals produced from the project area and a Vendor Back-in Option. An
overlying application (EPM 27098) was granted on the 16th December 2020
to GBM and EPM 19849 was subsequently surrendered under Conditional
Surrender conditions. The Moonmera Project is one of the largest known
mineralised porphyry copper systems in eastern Australia. The single
tenement (EPM 19849) formed part of GBM’s Mount Morgan porphyry
copper-gold project