Challenger Gold Limited Challenger Gold Limited is an Australia-based gold and copper exploration company focused on advancing high-grade precious metals projects in South America. Incorporated in 2007 and headquartered at 100 Havelock Street, West Perth, Australia, the company engages in the exploration and development of gold, silver, and copper deposits, primarily targeting junior mining investors and institutional funders through its ASX-listed securities. Its core assets include the flagship 100% owned Hualilan Gold Project in San Juan Province, Argentina, spanning 632 square kilometers with a JORC-compliant mineral resource estimate of 2.8 million ounces gold equivalent (AuEq), including a high-grade core of 1.6 million ounces at 5.0 g/t AuEq; the El Guayabo Project in Ecuador, featuring a maiden resource of 4.5 million ounces AuEq at 0.52 g/t from two of seven main anomalies, with a high-grade core of 1.5 million ounces at 1.0 g/t AuEq; and a 95% interest in the Karoo Basin Gas Project in South Africa, covering 3,500 square kilometers in a world-class shale gas province. Operations span Argentina, Ecuador, and South Africa, with strategic emphasis on low-capex development at Hualilan for near-term production via toll milling and bulk mining potential at both Hualilan and El Guayabo. Recent developments include a transformational A$34.5 million private placement in June 2025 to institutional investors such as L1 Capital, Helikon Investments, and the Elsztain Group, bolstering funding for accelerated studies, drilling, and toll milling at Hualilan; activation of a US$20 million project finance facility with an initial US$2 million drawdown for mining preparation and pre-feasibility study costs; execution of key contracts in October 2025 with Orica for explosives supply and services and Thor S.A. for 24-month blasthole drilling to support Hualilan toll milling operations following plant refurbishment; completion of a A$4 million share purchase plan in October 2024; and a name change from Challenger Exploration Limited in June 2023 to reflect its gold-focused strategy.