EQR Tenement Acquisition Supporting Mt Carbine Hub Strategy

• EQR has entered into a binding heads of agreement to acquire six prospective Exploration Permits for Minerals adjacent to Mt Carbine.
• The acquisition is expected to strengthen EQR's regional growth pipeline and support its hub-and-spoke strategy.
• Total consideration is A$250,000, subject to regulatory and third-party approvals.

EQ Resources Ltd, a global tungsten producer, has entered into a binding heads of agreement to acquire six prospective Exploration Permits for Minerals adjacent to its Mt Carbine tungsten operation from Sunshine (Triumph) Pty Ltd. The acquisition is expected to strengthen EQR's regional growth pipeline around Mt Carbine and support the Company's hub-and-spoke strategy to leverage its expanded processing facilities in the future. The total consideration for the acquisition is A$250,000, subject to regulatory and third-party approvals and other customary conditions precedent.

EQR aims to maximize value from its established tungsten operations and build a stronger Western tungsten platform.