Xanadu Mines Limited announced it has consolidated 100% ownership of the highly prospective Red Mountain copper-gold porphyry district. The Red Mountain district is located within the Dornogovi Province of southern Mongolia, approximately 420km southeast of Ulaanbaatar and 70km west of the provincial centre of Sainshand. Xanadu holds a clear 100% ownership and is in full control of the Red Mountain exploration program. Purchase completed for the 10% minority interest previously owned by Enkh Tunkh Delkhii LLC, for USD 350,000 cash, with effective date pending final lodgement of share transfer in Mongolia. Prior to meeting earn-in conditions, Japan Oil, Gas and Metals National Corporate (JOGMEC) has elected to terminate the Red Mountain Joint Exploration Agreement 1, effective 30 November 2021. A$3.6 million spent under the Joint Exploration Agreement through September 2021, delivering 11,295 metres of diamond drilling and valuable geophysics data to support Xanadu's ongoing exploration program, with no dilution to Xanadu shareholders. Red Mountain exploration will continue with Xanadu as sole owner and operator, prioritising diamond drilling at the Stairy prospect as a potential shallow copper deposit. Discovery drilling of deeper targets expected to commence in 2022. This is the first step in a broader commercial strategy to consolidate and simplify ownership of Xanadu's exploration assets in Mongolia.