How Challenger Gold’s Hualilan Toll Milling PFS Unlocks Rapid Payback and Strong Returns

• Pre-Feasibility Study confirms robust economics with EBITDA up to US$142.8M at spot prices
• Low upfront capital expenditure of US$8.9M and payback within three months of mining start
• Mining focused on three shallow open pits with 465,000 wet metric tonnes at 6.2 g/t Au and 35 g/t Ag
• Ore to be processed at Austral Gold’s fully permitted Casposo plant under toll milling agreement