• White Cliff Minerals sells 100% of Great Bear Copper-Gold-Silver-Uranium Project to Hydrocarbon Dynamics Ltd for A$5.8m
• Gavin Rezos appointed as Non-Executive Chairperson, Sara Kelly appointed as Non-Executive Director
• Roderick McIllree to retire from the Board, to join Great Bear Exploration Ltd as Executive Director

White Cliff Minerals Limited (ASX: WCN) has announced the sale of its Great Bear Copper-Gold-Silver-Uranium Project, located in the Northwest Territories, Canada, to Hydrocarbon Dynamics Ltd (ASX: HCD) for a total consideration of A$5.8 million. The key financial elements of the transaction include a cash payment of A$1.2 million and the issuance of 230 million shares in HCD (valued at A$4.6 million). Subject to shareholder approval, WCN will in-specie distribute 165,125,204 of the HCD shares to its own shareholders, retaining a 9.9% stake in the renamed 'Great Bear Exploration Ltd'. The transaction is subject to several conditions, including HCD obtaining shareholder approval and ASX re-admission. The company also announced the appointment of Gavin Rezos as Non-Executive Chairperson and Sara Kelly as Non-Executive Director, effective March 1, 2026. Roderick McIllree will retire from the WCN Board on February 28, 2026 to join Great Bear Exploration Ltd as an Executive Director. The sale of the Great Bear Project is expected to strengthen WCN's balance sheet and fund the next phase of exploration and development of its flagship Rae Project.

The sale of the Great Bear Project marks a disciplined, value-accretive step in sharpening WCN's focus on the flagship Rae Project. Proceeds from the transaction will strengthen the company's balance sheet and directly fund the next phase of exploration and development, with upcoming drilling designed to test Rae's true potential and scale. The addition of Gavin Rezos and Sara Kelly to the team further endorses Rae's potential and aligns the leadership with the company's next phase of growth.