Frieda River Project

Myanmar Exploration Licences

Targeted acquisitions

PanAust continues to search for opportunities to invest in copper and/or gold projects globally. The Company is targeting advanced projects that are in production or can be brought into production within a few years and are of suitable mine life and cost structure.

Contract Area exploration, Laos (PanAust 90 per cent)

Exploration activities within the Contract Area were limited in 2018.

Near-mine drilling was completed at the Phu Kham Copper-Gold Operation. Infill drilling and definition was undertaken at the Ban Houayxai Gold-Silver Operation; both drilling programs will continue in 2019.

Inca de Oro Copper-Gold Project (PanAust 66 per cent), Carmen deposit (PanAust 100 per cent), Chile

PanAust completed a feasibility study on the Inca de Oro Project in 2014. No material site activities are currently being undertaken or are planned.