EV Resources Limited - Focus on Copper in the Americas

Highlights:

-          EVR to focus on its copper portfolio in the Americas after the acquisition of the high grade, shallow Parag Copper-Molybdenum Project in Peru.

-          A team with deep experience in Peru has been recruited and an office opened in Lima.

-          Drill Permitting in progress and a programme of 6,000 metres of diamond drilling is planned at Parag.

-          Don Enrique drill permitting is underway.

-          La Cienaga fieldwork programme has commenced.

13th June 2023, EV Resources Limited (ASX:EVR) (“EVR”, or the “Company”), is pleased to announce an updated investor presentation that sets out the Company’s focus on copper assets in the Americas. The presentation was published on the Company’s ASX page this morning, and on the Company’s website www.evresources.com.au and follows the Company’s recent announcement “EVR Acquires High Grade Parag Project in Peru”, dated 4th May 2023.

EVR now has three copper Projects in the Americas, at different stages of exploration.

New Americas Copper Team

EVR has recruited a team with deep Peruvian and Latin American experience, that will be based in an office opened in Lima, Peru. EVR believes that “hands on” management is essential to effective management of its projects, and that key executive members must be based close to where we operate.

Gonzalo Lemuz, a veteran geologist responsible for identifying the potential at Don Enrique and Parag, is Head of Exploration for Latin America. Gonzalo is based in Lima and has more than 30 years’ experience in large and small companies leading exploration programs in Peru, Colombia, Bolivia and elsewhere. Gonzalo has extensive experience in generating and managing projects through discovery and resource definition.

Dr Steve Windle will consult to the Company as a Group Advisor on the Americas copper portfolio. Dr Windle has nearly 40 years of experience in exploration for large and small companies in several locations around the world. Steve held senior roles based in Peru with the Tier One Antamina copper-zinc mine owned by BHP, Glencore, Teck and Mitsubishi Corporation, and then worked with Teck Resources on the Zafranal copper project in Peru.

Giorgio Albertini serves as General Director of EVR’s Peruvian subsidiary companies, and provides legal and corporate services to the Group. Giorgio is a founding partner of Albertini Abogados, a law firm with offices in Lima, Peru, and Barcelona, Spain. Giorgio has 30 years’ experience advising multinational companies on investment in, and management of businesses in Peru.

Hugh Callaghan, the Chief Operating Office of EVR, has deep experience of Latin America, and has built base metal mines and managed projects in Chile and Mexico. He will relocate to a base in the Americas by October.

Projects – Pipeline and Work in Progress

Parag

Due Diligence on Parag is advancing as planned, and drill permitting is underway for a 2 rig programme to drill at least 6,000 metres of diamond core in the second half of the year. The holes will largely seek to replicate the initial 1990’s drill campaign on Parag, where 55 relatively shallow holes were drilled into high grade breccia outcrops, allowing a non JORC resource estimate to be prepared (see ASX announcement “EVR Acquires High Grade Parag Project in Peru”, dated 4th May 2023).

Don Enrique

Drill Permitting is underway at Don Enrique for an initial 2500 metre programme targeting the large sulphide anomaly shown by recent Induced Polarization survey (see ASX announcement “IP survey at Don Enrique confirms immediate drill targets”, dated 30th May 2023). Drilling is expected in the second half of 2023.

La Cienaga

Field work has commenced at the recently pegged Golden Eagle claims. The claims were pegged during April 2023, as part of our consolidation of a land package in the historic Cienaga mining district of North West Arizona (see ASX announcement “EVR continues consolidation of its Arizona copper project” dated 10th May 2023).

Other Projects

EVR continues to evaluate the best development options for its other projects, and will continue field work where appropriate on these tenements. EVR has decided to not extend the option over the Christina Tungsten-Tin project in Morocco. While the results were promising, the Company’s acquisition of Parag is of such significance, that the Company believes its resources are best focused on this high grade, shallow copper-molybdenum orebody.

Link to corporate presentation: https://evresources.com.au/presentations/

For further information, please contact:

Luke Martino

Non-Executive Chairman

Tel: +61 8 6489 0600

E: [email protected]

Adrian Paul

Executive Director

Tel: +61 8 6489 0600

E: [email protected]

This ASX announcement was authorised for release by the Board of EV Resources Limited (EVR).

Forward Looking Statement

Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be no assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR’s mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.