Acquisition of New Tenements Around Challenger

Marmota has entered into a binding agreement with a private party to acquire a 100% interest in 3 tenements around the Challenger gold mine in the Central Gawler Craton — EL 5087, 5088 and 5527 — delineated in red in Figure 1 below. The consideration for the tenements is 1 million Marmota shares to be issued on completion of the acquisition. The acquisition is subject to approval of the SA Governm