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RareX own 45 million shares in Kincora Copper (ASX & TSXV: KCC) following the roll up of project asset level equity as announced on 15th December 2023. This was done primarily to allow KCC to secure asset level JV partners given interest from various mid-tier and major industry groups across its portfolio of NSW porphyry projects.

KCC has just announced the first of these, a staged Earn-In/JV agreement for up to $50m with AngloGold Ashanti for the Nyngan and Nevertire copper-gold porphyry licenses (~1000km2), covering the interpreted northern extension of the Macquarie Arc.

AngloGold Ashanti is the worlds fourth largest gold miner and a successful greenfield explorer. AngloGold via an Earn-In/JV agreement with Inflection Resources (AUCU.CSE), is already active in the district with plans to shortly drill both to the immediate east and west of KCC's Nyngan licenses.

RareX congratulates KCC for this result which shows their capability in attracting Tier-1 names into Earn-In/JV partnerships and we look forward to further asset level arrangements of a similar nature.

RareX maintains a 1% Net Smelter Royalty (NSR) over the Trundle, Fairholme, Jemalong, Cundumbul and Condobolin licenses.

To engage with this update visit our investor hub: https://investors.rarex.com.au/welcome

Kincora Copper update (RareX investment)