Karroun Project

• Karroun is a tungsten-molybdenum exploration project in a region where there has been no detailed previous exploration
• Single granted exploration licence of 12 square kilometres held 100% by Meridian 120
• Laterite sampling has defined two large tungsten anomalies (up to 1000 by 400 metres) with peak value 34 ppm W against a background of 1 ppm)
• Three large molybdenum anomalies (up to 700 by 400 metres) with peak value 36 ppm Mo against a background of 4 ppm or less)
• All samples across the licence show anomalous bismuth
• Less than half of the licence has been sampled to date – each visit is revealing new anomalies
• Bedrock is Archean gneiss, granite and pegmatite terrain, mostly covered by laterite, soil and sand
• Aeromagnetics and geochemistry suggest minor greenstone remnants
• The anomalies indicate rare metal dispersion from hydrothermal cells related to a fractionated granite intrusion
• The project is available for option, purchase or joint venture