Everest Metals Corporation Limited announced that the Company recently applied for 15 Exploration Licences ("El's") located to the northeast and west of Alice Springs in the Northern Territory. The tenement package covers an area of 10,207.84km2 (3,443 blocks), including two areas 220km northeast of Alice Springs (Georgina tenure, 5,001.08 km2), and 150km west of Alice Springs (Amadeus tenure, 5,206.76 km2). The Northern Territory Department of Industry, Tourism, and Trade ("DITT") have formally confirmed the application and assigned ELA numbers.

EL applications include EL33415, EL33416, EL33417, EL33418, EL33419, EL33420, EL33421 which are named Amadeus and EL33422, EL33423, EL33424, EL33425, EL33426, EL33427, EL33433 and EL33433 which are named Georgina. The application areas are located in the southwest margin of the Georgina Basin and in the northern edge of the Amadeus Basin, near the contact of the eastern Aileron metallogenetic province. The rocks of the Aileron province are composed of variably metamorphosed clastic sediments, meta volcanic rocks, calc-silicate rocks, dolerites, mafic rocks, and granites.

The region is characterised by a large variety of mineral deposits, including lode gold, volcanic-hosted massive sulphide (VHMS), carbonate replacement Zn-Cu, Iron Oxide Copper Gold (IOCG), skarn W- (Mo-Cu-Au), lithium-tantalum pegmatites, carbonatite, aeolian/alluvial garnet deposits, rare earth element (REEs), uranium and phosphate deposits. Arafura's world class Nolans Rare Earth (NdPr) Project sits between EMC's Georgina and Amadeus Tenures and the Ammaroo Phosphate Project owned by Verdant Minerals is located north of Georgina. The Mollie and Mount Swan granite complexes are located near the south of the Georgina tenure as well as Utopia Tantalum and Tin in the Alcoota pegmatite field.

The Georgina tenure has access from Alice Springs via the Stuart Highway to the north. The Alcoota pegmatite district is one of the four main clusters of the Arunta pegmatite province located in southwest of Barrow Creek. The Northern Territory Geological Survey have reported numerous copper/gold occurrences as well as lithium pegmatites and REEs in the region of the Georgina tenure.

The Amadeus Basin is mostly known for its significant hydrocarbon resource with a discovery history back to the early 1960s and production of oil and gas from the mid-1980s, but regarded as prospective for sediment-hosted Cu, Pb and Zn. Stokes Yard, Glen Helen, Ulpuruta, and Haasts Bluff copper-zinc sedimentary hosted mineral occurrences are in the contact of the eastern Aileron Province, near the north of the Amadeus tenure and the area is accessible from Alice Springs via Larapinta drive to the east. The Amadeus tenures are covering the northern edge of the Amadeus Basin, one of the few salt basins in Australia targeted for underground storage of hydrogen.

Next Steps: Landowner agreements and access (post granting of applications); and Complete desktop reconnaissance and identify exploration target areas.