Global Fortune Investment Limited announced a proposed new joint venture with Exposed Resources Ltd. On 18 December 2018, an agreement to negotiate a Joint Venture Option Agreement (JVOA) was executed, setting out the preliminary terms for the proposed joint venture between GFI and EXX. The joint venture concerns a mining exploration expedition over the land covered by Licence E31/1122 (Licence) in Laverton, Western Australia. This land forms part of GFI's primary project, the Horse Rock Project, and is adjacent to EXX's primary project, the Red Gate Project. The purpose of the joint venture is to increase the financial capacity to explore, and ultimately develop, models of metal zoning and alteration over the land covered by the Licence.