• Drilling contract executed with Boart Longyear, a global leader in drilling services
• Mobilisation of a deep-capacity diamond rig (LF230) scheduled within the next two weeks
• Combined MT/IP surveys progressing strongly across the Toro South target

Belararox Ltd (ASX: BRX) is pleased to advise that it has successfully concluded drilling contract negotiations with Boart Longyear, a global leader in drilling services and equipment. Boart Longyear's engagement provides the Company with access to proven technical expertise and high-performance deep drilling capabilities in the Andes to support its upcoming exploration activities. Under the agreement, a deep-capacity diamond drill rig will be mobilised to the TMT Project site, with mobilisation expected to occur within the coming fortnight. The commencement of drilling will mark a key operational milestone in advancing the Company's exploration strategy at the TMT Project. A combined magnetotellurics (MT) and induced polarisation (IP) geophysical survey has also started at the Toro South and Central targets. The survey is instrumental to further characterise the most prospective zones for follow-up drill targeting over an area of approximately 2,500m by 2,500m covering the entire Toro South target and the most prospective zones of the Toro Central target. MT/IP surveys can image zones of low resistivity from the surface to depths of over 2,000m, and areas of Cu porphyry mineralisation typically coincide with low MT resistivity anomalies. The geophysical data will be interpreted once complete to further refine targets ahead of potential drilling in Q4 CY25.

With mobilisation planned for Q4 CY25, the company is steadily moving toward a key period as it progresses toward drilling at the TMT Project.