Resolution Minerals Ltd. has received notification that OZ Minerals will not be proceeding with further earn-in activities at its Wollogorang battery metals project in the Northern Territory. OZ Minerals is currently under a take-over bid by BHP. Drilling at the Wollogorang Project during 2022 was funded by OZ Minerals as part of their Initial Period commitment as outlined in the earn-in and joint venture agreement between the two companies.

Half of the planned program was completed in 2022, as the onset of the wet season caused the suspension of drilling activities. The Wollogorang Project contains the Stanton Cobalt Deposit and is prospective for Copper, Cobalt and Uranium. Resolution will seek to monetise the Wollogorang Project to focus funds on the South Australian George Project, prospective for Silica Sands and Uranium.

OZ Minerals continues to be engaged with Resolution at the Benmara Project in the NT, which has recently commenced the Initial Period expenditure of $1.0 million. The agreement is separate and not impacted by this decision regarding the Wollogorang Project.