Company Profile

Carnavale Resources Limited (“Carnavale” or “Company”) is a West Australian based mineral exploration company listed on the Australian Securities Exchange (CAV.ASX) and on the German Stock Exchange in Frankfurt (YBB.FF). The Company is focused on acquiring and exploring high quality and advanced exploration and development projects prospective for strategic minerals associated with the electric battery sector and other new-age disruptive technologies, as well as gold and precious metals.

Carnavale’s key projects include the Grey Dam Nickel-Cobalt (Ni-Co) Project (100%) and the Kikagati Tin Project (right to earn up to 70%).

The Grey Dam Ni-Co Project, located near Kurnalpi approximately 90km northeast of Kalgoorlie, West Australia, hosts a shallow, oxide laterite Ni-Co resource reported by previous explorers with significant potential for near-term exploration upside to the existing mineralised zones and longer-term Ni-Cu-Co sulphide potential at depth.

The Kikagati Tin Project, located in southern Uganda on the border with Tanzania, Africa, comprises of seven exploration permits and a mining lease with intense artisanal workings over a strike length of over 2.5km and widths of 100m to 200m. Carnavale believe the Kikagati Project has the potential to represent a very large mineralised system and to host a large-scale tin resource.

Carnavale is focused on projects where high impact programs can achieve above average returns for shareholders. In particular, projects where the earn-in agreement and cost is predominately designed around “value add drilling programmes” as part of the equity earn-in phase rather than high upfront purchase costs.