Everest Metals Corporation Ltd. announce that is has entered into an exclusive legally binding farm-in and joint venture term sheet ("Term Sheet") to earn up to a 100% interest in the Revere Gold Project in Western Australia from privately owned Entelechy Resources Pty Ltd. (`Entelechy'). The project is located just off the Great Northern Highway approximately 90km to the north-east of Meekatharra in the Murchison Region of Western Australia. The tenement package size, including the tenements under option cover an area of 82km2, including granted tenements E51/1766, E51/1770, P51/3240, P51/3241 and pending applications M51/905 E51/2119, E51/2088.

The project sits proximal and along strike of the DeGrussa and Monty Copper-Gold mines, just 55km to the south-west. The Revere Gold Project is located in the Palaeoproterozoic Yerrida Basin ¡ Doolgunna Formation. The Yerrida Group comprises an early sag-basin succession dominated by siliciclastic and evaporitic sediments deposited in a shallow-water environment, overlain by arenaceous, argillaceous, and mafic volcanic rocks.

The basement rock is affected by Capricorn Orogen. Technical review and field assessment by Enterprise Metals (2009-2017), Ausgold (2010-2017), Mineral Commodities (2018-2021), and recent exploration activities by the current tenement holder demonstrated the potential of the Doolgunna formation to host DeGrussa-style Volcanic Hosted Massive Sulphide (VHMS) and Plutonic-style orogenic gold deposits.