Catalina Resources Secures Overwhelming Shareholder Support to Drive Exploration in 2025

Key Highlights:

• Overwhelming shareholder support at the 2024 AGM, with all resolutions passed and more than 90% approval.
• Significant gold and REE discoveries at Laverton and Lachlan Fold Belt projects.
• Dynamic growth strategy through strategic divestments, project incubation, and exploration expansion.
• Strong financial position with $2.65 million cash and drilling programs slated for 2025.

A Snapshot of Success

Catalina Resources Ltd (ASX: CTN) has solidified its position as a company to watch, rounding off 2024 with a resounding endorsement from shareholders. At its Annual General Meeting (AGM), all resolutions were passed, demonstrating strong investor confidence in the company’s strategic vision and growth plans.

This pivotal moment comes as Catalina advances exploration across its gold, rare earth elements (REE), and iron ore projects in Australia. With a robust portfolio and ambitious plans, Catalina is poised for a promising future.

Momentum Across Projects and Operations

Shareholder Support: A Foundation for Growth

The 2024 AGM results underscored investor confidence in Catalina’s leadership and direction. Notable outcomes included:

• Director Elections: Michael Busbridge and Martin Bennett, both seasoned geologists with extensive experience, were re-elected to the board.
• Strategic Resolutions: Share placements and remuneration shares were approved, equipping the company with the financial flexibility needed to pursue ongoing and future initiatives.

This strong backing bolsters Catalina’s ability to execute its exploration programs and seize new opportunities.

Laverton Project: A Rising Star in Gold and REE Exploration

Located in Western Australia’s mineral-rich Eastern Goldfields, the Laverton Project is emerging as a key focus for Catalina.

Gold Discoveries:

• Aircore drilling in 2024 revealed a supergene gold anomaly spanning 300m by 200m, open along strike.
• Significant results include:
  • 44m @ 1.01g/t Au, with high-grade intervals of 4m @ 2.22g/t Au.
  • 8m @ 1.45g/t Au.

REE Potential:

• Laverton’s proximity to the Mt Weld REE mine (5km away) enhances its strategic importance.
• Exceptional assay results include:
  • 3m @ 6,794ppm TREO (including 1m @ 16,426ppm TREO).
  • 8m @ 6,132ppm TREO.

Next Steps:

• A reverse circulation (RC) drilling program is planned for early 2025 to explore mineralization beneath the supergene anomaly.
• Additional aircore drilling will further delineate gold and REE trends.

Source: $CTN ASX Presentation

Source: $CTN ASX Presentation

Lachlan Fold Belt Project: Unlocking Gold and Silver Potential

The Rock Lodge prospect in New South Wales, part of the Lachlan Fold Belt, showcases Catalina’s expertise in identifying and developing high-potential assets.

Exploration Highlights:

• RC drilling has identified multiple stacked gold and silver lenses, with key intersections such as:
  • 8m @ 1.08g/t Au (including 3m @ 2.12g/t Au).
• Diamond drilling in November 2024 revealed broad zones of alteration and veining, suggesting potential for intrusion-related gold systems.

Future Plans:

• The company awaits assay results from recent drilling and plans to expand exploration to trace mineralization along strike and under cover.

Source: $CTN ASX Presentation

Source: $CTN ASX Presentation

Nelson Bay Iron Project: A Legacy of Quality

Catalina’s Nelson Bay Iron Project in Tasmania exemplifies its track record of efficient operations.

Past Success:

• First company to mine DSO iron ore in Tasmania, producing ~58% Fe ore that was well-received in the Chinese market.

Re-Permitting Efforts:

• Development application submitted for DSO operations, with approvals underway.
• Environmental considerations, including water discharge impact, are being addressed through EPBC Act guidelines.

Next Steps:

• Restarting operations to capitalize on the project’s proven high-quality ore potential.

Strategic Divestments and Financial Strength

Catalina’s approach to value creation is as strategic as its exploration programs.

• Strategic Divestments: The sale of Kookynie West to Kobold Metals and the spin-out of Arunta JV to MetalsGrove Mining Ltd highlight Catalina’s ability to unlock value while retaining exposure through equity stakes.
• Strong Financial Position: With $2.65 million in cash as of November 2024, Catalina is well-positioned to fund its exploration pipeline and operational growth.

Dynamic Leadership Exploring New Horizons

Catalina’s strategic shifts are led by an experienced and forward-thinking team. Executive Chairman Sanjay Loyalka drives growth through both core assets and future-facing minerals like lithium and REEs. His expertise in corporate finance and international mining operations has shaped the company’s exploration agenda, focusing on sustainable growth and resource diversification. The leadership team, including geological experts Michael Busbridge and Richard Beazley, brings critical technical expertise to guide the company’s exploration programs, unlocking value across its diverse project portfolio.

A Vision for the Future

Catalina’s forward-looking strategy is built on three key pillars:

1. Expanding Exploration: Focused on Laverton and Rock Lodge, the company plans to unlock deeper and more extensive mineralization.
2. Pipeline Diversification: Actively seeking new projects in high-potential regions.
3. Sustainable Operations: Re-permitting efforts at Nelson Bay underscore a commitment to long-term, environmentally conscious growth.

This dynamic approach ensures the company remains adaptable and positioned to capitalize on evolving market opportunities.

Positioned for Strategic Growth

Catalina Resources Ltd continues to advance its exploration initiatives and refine its project portfolio, leveraging strong shareholder support and a structured approach to resource development. The company’s focus on gold, rare earth elements, and iron ore projects, alongside its strategic divestments, reflects a balanced strategy aimed at long-term sustainability.

As exploration results from active projects become available, Catalina's progress will be of interest to stakeholders observing Australia’s dynamic mining landscape.

As of 22nd Novemeber 2024, $CTN shares were trading at A$ 0.003.

For more details, please visit www.catalinaresources.com.au