News
Inflection Resources to Acquire Portfolio of Australian Copper-Gold Projects from Newmont Corporation
Vancouver, British Columbia, June 16, 2025: Inflection Resources Ltd. (CSE: AUCU / OTCQB:
AUCUF / FSE: 5VJ) (the “Company” or “Inflection”) is pleased to announce it has entered into
definitive agreement dated June 13, 2025 to acquire an 100% interest in a portfolio of Australian
copper-gold exploration projects in New South Wales and the Northern Territory from subsidiaries
of Newmont Corporation (“Newmont”).
Summary Highlights:
- Inflection shall acquire an 100% interest in a large portfolio of projects from Newmont which
the Company considers highly prospective for copper-gold in the Northern Territory and New
South Wales. - The Tennant East project located in Australia’s Northern Territory comprises twelve
exploration licenses covering a number of Iron Oxide Copper Gold (IOCG) targets which have
received minimal exploration work to-date. - The Bell River project is located in the Macquarie Arc in central New South Wales. The
Company considers the project to be highly prospective for copper-gold porphyries, with the
presence of outcropping lithocaps interpreted to represent the upper parts of preserved
porphyry systems.
Alistair Waddell, Inflection’s President and CEO, states: “We are pleased to announce the
acquisition of this high-potential project portfolio, which represents the culmination of an extensive
evaluation process. The Tennant East and Bell River projects meet our rigorous selection criteria,
particularly regarding the scale and quality of individual exploration targets and concepts. These
new projects complement our existing New South Wales portfolio and will be explored in parallel
with our current AngloGold Ashanti-funded exploration program. We look forward to applying our
systematic, systems-thinking exploration approach to unlock the potential of these projects once
the transaction is completed.”
Bell River Project – New South Wales:
- Individual prospects with significant zones of advanced argillic alteration interpreted by
Inflection to represent possible porphyry lithocaps - Adjacent outcropping zones of quartz-pyrite-chalcopyrite cemented breccias
- Aeromagnetic lows coincident with high-level alteration
- Little to no drill testing of several geochemical anomalies and zones of high-temperature
hydrothermal alteration
The Bell River tenement (~115 km²) is located approximately 65 km north of Newmont’s Cadia
mine and 23 km south of the town of Wellington, New South Wales within the Molong Belt of the
Macquarie Arc (Figure 1). The Macquarie Arc is the most fertile porphyry copper-gold terrane in
Australia, comprising the Junee-Narromine Volcanic Belt which hosts Evolution Mining’s
Northparkes and Cowal mines and the Molong Volcanic Belt which hosts the Bell River project
and Newmont’s Cadia mine.
The Bell River tenement is largely comprised of the calc-alkaline Mid-Ordovician Fairbridge
Volcanics and Oakdale Formation comprising of basaltic to andesitic tuffs, breccias, lavas, latites,
and minor sedimentary rocks and limestones which host Alkane Resources Ltd.’s Boda-Kaiser
porphyry systems 40 km to the north.
Reconnaissance mapping and geochemical and spectral surveys by the previous owners have
identified significant zones of advanced argillic alteration at several prospects, which are
interpreted by Inflection to represent relic porphyry-related lithocaps. At a prospect referred to as
Bakers Swamp, the interpreted lithocap is bordered by a zone of propylitic alteration to the west
and south and elevated As-Mo-Ag-Ba-Sb-As-S-Se in soil samples. Locally surface rock sampling
of intensely silicified andesitic volcanics returned gold values up to 40.8 g/t and 1% copper.
At the Bellevue prospect, outcropping silica ridges bordered by pyrophyllite-paragonite-muscovite
alteration are accompanied by sporadic outcrops of quartz-chalcopyrite-pyrite cemented
hydrothermal breccias. The Bakers Swamp prospect is defined by a broad zone of silica-clay
goethite-limonite alteration that is coincident with a 1.5 km wide aeromagnetic low and copper-in
soil anomalism. Mineral assemblages typical of advanced argillic alteration (dickite-alunite
pyrophyllite-zunyite) have been identified by previous explorers.
These alteration assemblages are well recognized as representing the upper levels of magmatic
hydrothermal systems and are noted in many porphyry deposits globally. Previous explorers
effectively defined the alteration but did not drill test the potential of these zones, leaving
significant potential for discovery of copper-gold mineralization at depth.
Tennant East Project – Northern Territory:
- Newmont scout drilling defined Cu-Au-U-Mo geochemical footprints consistent with IOCG
style mineralization - Preliminary scout drill holes intersected:
o Hematite-magnetite-chlorite alteration facies typical of IOCG systems
o Vein and disseminated pyrite ±pyrrhotite ±chalcopyrite ±galena sulphide
o Broad zones of hematite-pyrite-silica breccias - Thick sedimentary sequences and bimodal intrusions in the project are an equivalent age
to other mineralized districts including the nearby Tennant Creek copper-gold deposits
The Tennant East project is highly prospective for large-scale IOCG style mineralization. The
project comprises twelve individual exploration licenses totalling approximately 4,200 km² located
approximately 180 km east of the town of Tennant Creek in Australia’s Northern Territory (Figure
2). The project is easily accessible and located on and adjacent to the Barkly Highway, which
runs from Tennant Creek to Mount Isa in western Queensland. All targets occur under relatively
shallow post-mineral sedimentary cover interpreted to be less than 150 metres thick.
The exploration licenses were initially staked by Newcrest Mining as part of a country-scale
targeting exercise and only received cursory exploration that returned encouraging early results,
including the drilling of thirteen holes into a wide variety of geophysical features.
IOCG deposits represent expressions of large crustal-scale alteration events driven by intrusive
activity and are among the world’s most significant sources of copper, gold, uranium and critical
commodities making them exceptionally valuable mineral systems that often support large-scale,
long-life mining operations.
The largest known deposit of this type is Olympic Dam, located 560 km north of Adelaide, South
Australia with other Australian examples being Prominent Hill, Carrapateena, Ernest Henry and
the Tennant Creek district. Other notable global examples include Candelaria in Chile and Salobo
in Brazil.
These deposits are characterized by an association of copper, gold and uranium with highly
elevated iron oxides (hematite and magnetite). The deposits are typically associated with large
scale hydrothermal alteration, brecciation and mineralisation controlled by deep-seated faults.
These deposits are highly amenable to cost-effective geophysical exploration due to their close
association with magnetite and hematite.
Inflection’s exploration strategy will involve targeting thorough systematic review of previous
exploration data, detailed geological interpretation and development of integrated geological,
geochemical and geophysical data.
Further details regarding the individual targets will be released once the titles have been
transferred to Inflection.
Newmont Agreement Terms:
Bell River Agreement Terms: Inflection will acquire 100% interest in the Bell River project by
issuing Newmont 1,000,000 common shares of the Company. Inflection also agrees to pay
Newmont a one-time payment of AUD$2.5M upon completion of a JORC or NI43-101 compliant
Pre-Feasibility Study and AUD$5.0M upon commencement of commercial production. Newmont
shall retain a 2% net smelter return (“NSR”) royalty on the project, of which Inflection may
purchase 1% NSR for AUD$5.0M at any time.
Tennant East Agreement Terms: Inflection will acquire 100% interest in the Tennant East project
by issuing Newmont 250,000 common shares of the Company and reimbursement of the 2025-
26 tenement renewal fees. Newmont shall retain a 1.5% NSR on the project, of which Inflection
may purchase 0.5% NSR for fair market value after completion of a NI43-101 compliant Pre-
Feasibility Study.
The transactions are expected to close in several weeks upon transfer of the exploration licenses
to the Company’s wholly owned Australian subsidiary and the share issuance to Newmont.
Qualified Person and Sampling Quality Control:
The scientific and technical information contained in this news release has been reviewed and
approved by Mr. Carl Swensson (FAusIMM), a “Qualified Person” (“QP”) as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Swensson is not
independent by reason he is a director of the Company’s subsidiary and a shareholder of the
Company.
About Inflection Resources Ltd. Inflection is a copper-gold focused mineral exploration
company listed on the Canadian Securities Exchange under the symbol “AUCU”, on the OTCQB
under the symbol “AUCUF” and on the Frankfurt Stock Exchange under the symbol “5FJ”, with
projects in New South Wales and the Northern Territory of Australia. For more information, please
visit the Company website at www.inflectionresources.com.
Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven
investment group that builds value through the incubation and financing of early-stage mineral
exploration projects globally. Further information about NewQuest can be found at
www.nqcapitalgroup.com
On behalf of the Board of Directors
Alistair Waddell
President and CEO
alistair@inflectionresources.com
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
bzerb@inflectionresources.com
Forward-Looking Statements: This news release includes certain forward-looking statements and
forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable
Canadian securities legislation. All statements, other than statements of historical fact, included herein
including, without limitation, statements regarding future capital expenditures, amount of drilling, anticipated
content, commencement and cost of exploration programs in respect of the Company’s projects and mineral
properties, the closing date of the property acquisitions and the anticipated business plans and timing of
future activities of the Company, are forward-looking statements. Although the Company believes that such
statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often,
but not always, forward looking information can be identified by words such as “pro forma”, “plans”,
“expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes”, “potential” or variations of such words including negative variations thereof, and phrases that
refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to differ materially from any future
results, performance or achievements expressed or implied by the forward-looking statements. Such risks
and other factors include, among others, statements as to the anticipated business plans and timing of
future activities of the Company, including the Company’s exploration plans. the proposed expenditures for
exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business
activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian
Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining
operations, the Company’s limited operating history, currency fluctuations, title disputes or claims,
environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in
the Company’s most recently filed annual MD&A and other filings of the Company with the Canadian
Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website
at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements.
The Company undertakes no obligation to update any of the forward-looking statements, except as
otherwise required by law.