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EPM 25134 is located in northeast Queensland, approximately 30 km southeast of Charters Towers and 120 km south‐southwest of Townsville. The EPM is one of a group of 7 exploration tenements in the Charters Towers district that comprise the Liontown Project Area held by Auctus Resources Pty Ltd (Auctus). The tenement was granted to Mungana Goldmines Ltd (MUX) on the 20th November 2013 and is now wholly owned by Auctus.

The tenement consists of 21 sub‐blocks encompassing an area dominated by Siluro – Devonian granitoids and Cambrian – Ordovician units of the Seventy Mile Range Group. The area has been explored by numerous companies since the 1960’s, with earlier explorers focusing mainly on the search for volcanic hosted massive sulphide deposits, with more recent exploration efforts also incorporating exploration for intrusion related epithermal gold.

In 2018, Minotaur Exploration entered into a Joint Venture with Auctus at what is now called the Windsor Project. This project encompasses 7 tenements including EPM 25134. On the 26th of September 2018 Minotaur applied and was granted Project Status over all the tenements within the Windsor JV, including EPM 25134. Minotaur are currently Manager and Operator of the Joint Venture.

In the previous period a 3D-IP survey was proposed at Warrawee prospect, however the survey was cancelled due to a State fire emergency. The survey was designed to map out the distribution of sulphide mineralisation across the broader prospect area and determine whether sizable mineralisation was developed at depth below the base of previous drilling.

During the period Zonge Engineering successfully undertook a double-offset, pole-dipole IP / Resistivity survey at the Warrawee Prospect during September and October 2020 along 3 static arrays, producing 9 survey lines for 18 line km’s.

No significant chargeability or resistivity responses are noted in the observed data indicating that the VMS style mineralisation outcropping and within historical drillholes at Warrawee Area A and B is very localised and of limited depth and strike extent. No further geophysical work is recommended at this prospect.

Several rock chip samples from Warrawee Area B were collected from outcrops of quartzite and quartzite breccia along an interpreted fault zone to test for an Intrusion Related Gold System (IRGS). Despite the samples returning only B.D. to low-level Au they were elevated to anomalous in elements often associated with an IRGS. Further rock chip sampling along this interpreted structure is recommended.

Several rock chip samples were collected from outcrops of gossanous and ferruginous rhyolite and brick red jasper NE of Warrawee Area A. These samples returned anomalous VMS style mineralisation elements, however a plot of chondrite normalised REE’s returned slightly negative Eu indicating that the samples are not proximal to VMS mineralisation. As Eu is not positive in these samples no further investigation of this area is recommended.