Key Environmental Impact Assessment Approval Secured at Belararox’s TMT Project

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”), an advanced mineral explorer focused on high-value clean energy metals, is pleased to announce the approval of the key Environmental Impact Assessment (EIA””) over the Toro tenure and that three (3) of the nine (9) recently submitted EIA’s for the Company’s Toro-Malambo-Tambo (“TMT”) Project in Argentina have now been approved.

Key Highlights

• The main Environmental Impact Assessment (“EIA”) for the TMT project covering the Toro tenure has been approved.
• With this approved EIA, three (3) out of the nine (9) recently submitted EIAs have been approved.
• Toro tenure EIA is the key EIA of the nine (9) because it includes the authorisation of up to 8,000m of diamond drilling in addition to the upgrading of main infrastructure critical to the project, such as the campsite and primary access tracks.
• Activities such as initial exploration, drilling, camp refurbishment, track construction and maintenance are now permitted to commence immediately.
• The activities provide a pathway to investigating and confirming the reported drilling intercepts and to further develop untested areas of interest within the tenement, where high-sulphidation epithermal and/or porphyry mineralisation targets have been identified.
• Exploration Director Jason Ward is relocating to Argentina to lead the exploration team.
• Planned activities to commence shortly include:
  • Mobilising the Earthworks Contractor to re-establish the project’s campsite and upgrade the existing access track.
  • Surface sampling of untested sectors surrounding the Toro target.
  • Establishing an environmental baseline with registered Biologist as part of the EIAs.

Activities such as initial exploration, drilling, track building and maintenance are now permitted to commence immediately within the Toro tenure approved area displayed in Figure 1 (Green solid Toro tenure).

Furthermore, having achieved approval for three (3) EIAs, the company holds a positive outlook regarding the upcoming authorization of the remaining six (6) assessments (BRX ASX Release dated 1st September 2023).

Exploration Director, Jason Ward, commented:

With the granting of these EIA’s, we are set to commence fieldwork at TMT. The timing couldn’t be better with the beginning of the field season, and I am excited to be moving back to Argentina to lead the team exploring in the Andes once again. With multiple untested porphyry targets at the junction of two of the world’s richest metallogenic belts who wouldn’t be. I’m also looking forward to working once again with Dr Steve Garwin who will be joining us there later this year.

Managing Director, Arvind Misra, commented:

We're pleased to announce the approval of the TMT project's main EIA, a significant milestone as the third out of nine recent submissions. This approval enables immediate exploration activities, including up to 8,000 meters of diamond drilling and infrastructure upgrades. We will confirm historical results and explore new areas with a focus on mineralization. Jason Ward's relocation to Argentina will strengthen our exploration programme, and in addition, we anticipate valuable insights from world-renowned expert Dr. Steve Garwin during his forthcoming visit.

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