EV Resources Secures 70% of Los Lirios Project with 4.45% Antimony Grade

Strategic Acquisition Marks New Chapter

EV Resources Limited (ASX, EVR) has taken a decisive step in its evolution by acquiring a 70% interest in the Los Lirios Antimony Project located in Oaxaca, Mexico. This acquisition positions EVR as a rising player in the critical minerals sector, focusing on antimony; a metal increasingly vital for defence applications and next-generation energy storage technologies.

The Los Lirios project stands out for its exceptional near-surface antimony grades, with recent composite metallurgical samples returning 4.45% antimony content and impressively low levels of impurities such as arsenic and lead. Mineralogical analysis identified stibiconite and stibnite as the dominant minerals, both fully liberated and well-suited to low-cost gravity separation processing methods.

Pilot Plant and Production Pathway

Building on these promising technical results, EVR is advancing plans for a 100-tonne-per-day gravity pilot plant. Early-stage site negotiations and permitting processes are already underway, reflecting the company’s ambition to transition Los Lirios swiftly into production. The simplicity of the processing route combined with the project’s high grades and minimal impurities offers a pathway to early cash flow generation, a critical milestone for any emerging mining operation.

Leadership Strengthens Execution Focus

EVR has bolstered its leadership team with the appointments of Shane Menere as Non-Executive Chairman and Justin Werner as Non-Executive Director. Both bring extensive experience in mining project delivery and commercialization, underscored by their personal investments in the company. Additionally, the appointment of Miguel Barahona as President of Mexican operations adds seasoned local expertise, particularly in permitting and operational management, which is crucial for navigating the regulatory landscape in Mexico.

Portfolio Rationalisation and Financial Position

In line with its strategic focus, EVR has divested several non-core assets, including gold and antimony projects in Peru, the USA, and Australia. These disposals aim to concentrate resources and management attention on the Los Lirios project. The company also completed a placement raising AU$650,000 to fund ongoing development activities. As of 30 June 2025, EVR held cash reserves of approximately $987,000 and retains access to a $25 million equity drawdown facility, providing a solid financial foundation for its near-term objectives.

Collectively, these developments signal EVR’s transformation into a focused, execution-driven critical minerals company. The combination of high-grade resources, straightforward processing, strengthened leadership, and disciplined capital management positions EVR to potentially become a meaningful contributor to the global antimony supply chain.