cr156893

EPM 26633, Annual and final activity report for the period ending 13 June 2025. In the 2024-2025 field season, Prophet reluctantly decided not to pursue the detailed delineation of the "Big Bend" targets before drilling as recommended by the consultant geophysicist. The anomalies were large targets on strong regional structures, but the greenfield aspect requiring soil geochemistry programmes and further ground geophysics were daunting, especially at the same time other projects in Prophet's portfolio were competing for the Company's limited resources.
It became apparent that this work would be slow and laborious with the usual exploration success rate. Therefore further work was not conducted because of the consultant geophysicist downgrade of target responses and competing financial constraints, so it was reluctantly decided to relinquish the Permit, this which was approved by the Department on 13 June 2025.
The high risk/reward scenario was unfortunately beyond the scope of Prophet's budgeted commitments.