Renegade Receives $2.88M in Carpentaria JV Sale, Progresses Drill Plans in North America

Carpentaria Joint Venture Sale Unlocks Immediate Value

Renegade Exploration (ASX:RNX) has completed the divestment of its approximately 22% interest in the Carpentaria Joint Venture and 35% interest in EPM 8588 to True North Copper Limited for a total consideration valued at $2.88 million. The deal includes $300,000 cash, 3 million True North shares valued at $1.5 million, 2 million performance rights, and a 91% interest in the Prairie Creek gold project valued at $200,000.

This transaction removes Renegade’s future funding obligations for the Carpentaria JV while preserving upside exposure to the Mongoose-Taipan copper-gold deposits through the shares and performance rights received. Mongoose hosts an inferred mineral resource of 3.1 million tonnes at 0.55% copper and 0.07 g/t gold, adjacent to True North’s Taipan resource, which will now be developed under a consolidated framework.

Yukon Project Advances Towards Drilling

Renegade’s Yukon Base Metals Project, covering over 300 square kilometres and comprising 1,554 mineral claims, continues to be a key focus. The Myschka prospect is a drill-ready reduced intrusion-related gold system, while the Junction prospect presents a second district-scale target defined by a more than 4-kilometre silver-bismuth-tungsten anomaly.

The company is progressing planning for the next phase of work across these prospects, aiming to unlock the high-grade gold, silver, antimony, and critical mineral potential identified in recent exploration campaigns.

Nevada Projects Moving Closer to Maiden Drilling

In the United States, Renegade’s portfolio spans five projects across Nevada’s Walker Lane Trend and the Rooster Hill Project in Wyoming. The Walker Lane Trend is a prolific gold, silver, and base metals province with numerous operating mines but remains relatively underexplored.

During the quarter, Renegade refined priority targets, integrated geological mapping and surface sampling data, and advanced technical and logistical preparations for maiden drilling. The goal is to test the continuity and depth potential of mineralised systems identified across the Nevada projects.

Financial Position and Funding Facility Update

At quarter-end, Renegade held $38,000 in cash with an additional $540,000 available under its loan facility, which was recently increased to $1 million and extended to October 2026. The facility carries a 12% interest rate and is secured by a negative pledge over the company’s Yukon assets. The company drew $460,000 against this facility during the quarter.

Exploration expenditure for the quarter totalled $90,000, primarily focused on the USA projects. No expenditure was incurred on mining production or development activities during this period.

Australian Projects Retain Strategic Potential

Following the Carpentaria JV divestment, Renegade retains several exploration permits in north-west Queensland, including the 100% owned Cloncurry Project and 75% interest in the North Isa Project. Additionally, the company has applied for permits in the Barcaldine region targeting vanadium and rare earth elements within the Toolebuc formation, a sedimentary oil shale mineralisation zone with known vanadium enrichment.