REG - Cloudbreak Discovery - Acquisition and Corporate Update

Cloudbreak DiscoveryAnnouncement

23/06/2025 07:00

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RNS Number : 9294N  Cloudbreak Discovery PLC  23 June 2025

23 June 2025

Cloudbreak Discovery Plc

("Cloudbreak", or the "Company")

 

Acquisition and Corporate Update

 

Cloudbreak Discovery Plc, (LSE: CDL), the natural resource explorer and
project generator, is pleased to announce that it has secured the exclusive
option to acquire the Darlot West Gold Project, located in the Eastern
Goldfields region of Western Australia.  The consideration is GBP10,000 for a
ninety day option period with either GBP25,000 plus 25,000,000 ordinary shares
in the Company ("Shares") or, at the vendors option, 50,000,000 Shares payable
at the time the option is exercised.

 

Project highlights

 

·    Project is located 10km to the north-east of Darlot Gold mine which
has produced 2.8Moz Au

·    High grade historical workings defined over 200m of strike along
contact of basalt and granitoid

·    Multiple rock chip sample results include:

o  16.15g/t Au

o  11.8g/t Au

·    Significant drilling results include:

o  1m at 11.6g/t Au from 14m

o  1m at 4.83g/t Au from 13m

·    Modest level of exploration completed over the past 40 years, lack of
systematic modern exploration conducted

·    Four priority target areas identified for further exploration to be
undertaken

 

Tom Evans, Managing Director, states:

"This is exactly the type of asset, with great upside potential, that we seek
to identify and add value to as we continue to rebalance the Company's asset
portfolio. I look forward to providing further updates on this exciting
venture in the coming weeks."

 

The Darlot Mine and deposit is approximately 10km to the north-east of the
Darlot West Project. The Darlot Gold mine has a long production history of
around 30 years of continuous gold production. Up until November 2018, the
total output of the mine was 17.8 million tonnes at 4.8g/t Au from 2.8 million
ounces of contained gold.

 

Within the Project, mineralisation has been sporadically sampled in
drillholes, shafts, costeans, and surface samples for over 40 years. However,
there is a lack of consistency within historic exploration with little or no
follow-up on several prospective gold targets.

Historic samples include:

·    Multiple significant Rock chip samples

o  SDRCP0081: 16.15g/t Au

o  SDRCP0042: 11.8g/t Au

o  SDRCP0040: 2.4g/t Au

o  SDRCP0084: 1.76g/t Au

·    Multiple significant drill results including:

o  1m at 11.6g/t Au from 14m

o  1m at 4.83g/t Au from 13m

·    3 historical underground workings along 200m of strike located along
contact of basalt and granitoid

 
Tenement Summary

The Darlot West project comprises one exploration license, 37/1396 covering
12.13km(2).

 
Location

The Darlot West Project is located in the Eastern Goldfields Region of Western
Australia. Leinster is approximately 50km to the west, Leonora is around 100km
south and Leinster is situated 140km to the south-east. Access is via the
Darlot to Yandal road and station tracks.

 

 

 

Figure 1: Project Location Plan

 

 

Geology

Regional Geology

The project is located in the Mt. Clifford to Weebo portion of the Norseman to
Wiluna greenstone belt. The regional geology is dominated by north-west
trending lineaments and layered sequences comprised of mafic extrusive and
intrusive rock with intercalated felsic volcanic rocks. Regionally, the
sequence is intruded by granitoid rocks of tonalite or adamellite composition.
Felsic dykes and quartz veins have developed late in the tectonic history. The
quartz veins are associated with the introduction of gold mineralising fluids.

 

Local Geology

An undulating Tertiary clay profile covers parts of the tenement area, ranging
in thickness from l-2m to an average of 10m. Recent weathering and erosion has
exposed an Archaean derived clay and saprolite weathering zone across the
majority of the tenement area, again with an undulating contact zone with
Archaean basement rocks. Thickness of this zone varies from no cover to a
maximum depth of 79m.

 

Archaean basement rocks consist of mafic gabbros and dolerites, with felsic
granitic to dioritic intrusives. Minor ultramafic lamprophyre and felsic
syenite is also found in the tenement area. Gabbro and dolerite are the most
common basement rock found in outcrop, although the southwestern portion of
the tenement contains outcropping granite bodies.

 

 

 

Figure 2: Project Geology

 

 

Corporate update

 

In reviewing the Company's existing assets, the board believes the table below
provides an updated royalty status for each current project in its Portfolio.

 

 Property  Counterparty      NSR %  Status
 Masten    G2 Energy         3.25   In production
 TX Li     LoneStar Lithium  0.5%   Pending

 

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

- Ends -

 

 

For additional information please contact:

 

 Cloudbreak Discovery PLC                         Peter Huljich, Chairman           Tel: +44 207 887 6139
 Novum Securities                                 David Coffman / Anastassiya Eley  Tel: +44 7399 9400

 (Financial Adviser)
 Oberon Capital             (Broker)              Nick Lovering / Adam Pollock      Tel: +44 20 3179 5355 /+44 20 3179 5315

 

 

 

About Cloudbreak Discovery PLC

 

Cloudbreak Discovery PLC is a natural resource explorer, project generator and
royalty business. Cloudbreak is focused on mineral exploration and energy
royalty acquisitions with the aim of bringing near-term cashflow and driving
shareholder value. Its primary operating jurisdiction is the United States,
but the Company also deploys its project generation model in the international
mining sector to acquire interests in projects of merit.

 

Through its wholly owned but independently operated subsidiary, Cloudbreak
Exploration Inc., the Company will develop its array of mineral assets,
whilst continuing to generate new projects with a particular focus on
commodities with high intrinsic value.

 

Cloudbreak's generative model across the mineral sector enables a multi-asset
approach to investing and exploration. Diversification within the natural
resource sector and amongst resource classes is key to withstanding the cycles
of investing.

 

 

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