Carawine Resources Limited announced the completion of a major airborne electromagnetic survey aimed at identifying new copper and gold targets within its Coolbro JV tenements in the highly prospective Paterson Province of Western Australia. Carawine has a farm-in and joint venture agreement (the "Coolbro JV") with FMG Resources Pty Ltd, a wholly owned subsidiary of Fortescue Metals Group Ltd. ("Fortescue"), whereby Fortescue can earn up to a 75% interest in the Coolbro JV tenements. This is the first major exploration program completed over the Coolbro JV. Survey data was acquired during April and May 2021, using the VTEMTM Max (Versatile Time Domain Electromagnetic) helicopter- borne electromagnetic system, comprising a total 1,777 line km. The aims of the survey are to define new conductive anomalies, identify anomalous resistive zones that may indicate alteration associated with mineralisation and provide important subsurface geological and structural information, all of which can be used to generate targets for direct drill testing. Results of the survey are expected during third quarter 2021. Fortescue has the right to earn up to a 75% interest in Carawine's Lamil Hills, Trotman South, Sunday and Eider tenements by spending $6.1 million in two stages over a seven-year period from November, 2019. Prior to completing the VTEM survey, Fortescue advised that it had completed the "Minimum Obligation" term of the Coolbro JV agreement by incurring exploration expenditure of more than $500,000 within the first eighteen months of the agreement before being able to withdraw. Completion of the VTEM survey over the Eider tenement also satisfies one condition required for the addition of the Eider tenement to the Coolbro JV. Fortescue now has the right to earn a 51% interest in the Coolbro JV tenements during Stage 1 of the agreement, by spending a further $1.1 million on exploration prior to 12 November 2022.