Canyon Resources Limited announced the commencement of resource definition activities on the Makan Bauxite Permit, a contiguous tenement to the Minim Martap Bauxite Project. To date, the Makan Permit has not been as extensively explored as the Ngaoundal and Minim Martap Permits and the exploration activities for this program will focus on defining sufficient bauxite mineralization to develop sustainable long-term Direct Shipping Ore operations to be included in the Minim Martap Bauxite Project. The exploration activities planned will satisfy the requirements to maintain the Permit under the terms of the extension granted in February 2022.

The program aims to improve the resource on this ground, eventually growing the existing contribution of the Permit into the Minim Martap mining schedule. Exploration work employing surface mapping and pit sampling, carried out during first half of 2022, consisted of a target generation programme. This programme aimed to define resource drilling targets which will now be systematically drilled.

Traditional boot and GPS mapping on three brownfield plateaux within the Permit identified thirty-seven historical pits dug during the 1960 bauxite prospection campaign by the French Geological Survey. Eleven of these pits were sampled to achieve appropriate representative coverage. Surface mapping completed during the first half of the year also confirmed the presence of mature lateritic material on three greenfield plateaux within the Permit indicating excellent potential to host bauxite mineralization.

As a result, eight new pits are planned for excavation to test mineralization at depth on these plateaux. Exploration work planned for the coming half year includes the following: Continue target generation activities with the advancement of new pits on the greenfield plateaux. Dispatch pit samples for primary assay and the interpretation of assay results.

Commence resource drilling on high grade plateaux defined by the target generation campaign, Progress regarding the Mining Convention As part of a recent trip to Cameroon, Mr. Jean Sebastien Boutet had the opportunity to meet with the Prime Minister of Cameroon, Mr. Joseph Ngute. Prime Minister Ngute personally expressed his support for the project during the meeting. In addition, the Tibati Lamido, an important community figure and local leader of the Tibati region, travelled for 12 hours to personally meet with the Prime Minister to formally express his support for the Minim Martap Bauxite Project.