Challenger Exploration announced that it has recorded a second significant intersection of the new style of intrusion-hosted gold mineralisation at the Company's Hualilan Gold Project, located in San Juan Province Argentina. Drill hole GNDD-032 intersected 116 metres at 1.1 g/t gold, 4.0 g/t silver, 0.2 % zinc (1.2 g/t AuEq) from 49 metres, in dacite porphyry containing weak iron oxide, silica, pyrite and skarn alteration. The intercept includes two main higher grade zones of 6 metres at 9.6 g/t gold, 18.7 g/t silver 0.15% zinc (10.2 g/t AuEq) and 4 metres at 9.8 g/t gold, 18.5 g/t silver, 1.5% zinc (10.9 g/t AuEq). (Table 1) This follows CEL's discovery hole GNDD-025 (ASX Release 8 July 2020) which intersected 50m at 1.4 g/t gold, 3.4 g/t silver, 0.17 % zinc (1.6 g/t AuEq) in dacite porphyry one kilometre north along strike. CEL's discovery hole GNDD-025 was located 1 kilometre north along strike from GNDD-032 and intersected 50 metres at 1.4 g/t gold, 3.4 g/t silver, 0.15 % lead and 0.17 % zinc (1.6 g/t AuEq), which remains open at depth. This mineralisation, hosted in dacite porphyry, represented a new type of mineralisation with the historical high-grade mineralisation at Hualilan occurring in faults and limestone. The Company defined a near surface conceptual intrusion-hosted target covering 1 kilometre of strike and up to 100 metres wide following the GNDD-025 discovery hole. This is defined by the limited historical drilling, mapping of the surface exposure of the altered dacite porphyry, and recent CEL drill holes. The current northern end of this target is defined by CEL drill hole GNDD-025, with the current southern end of the target defined by CEL drill holes GNDD-032 and GNDD-031. This target remains open in both directions. The results of GNDD-032 and GNDD-031 significantly upgrade this conceptual target and confirm that it covers 1 kilometre of strike including the Gap Zone between Cerro Norte and Cerro Sur. The target is now defined by intercepts of 50 metres at 1.4 g/t gold, 3.4 g/t silver in the north and 100 metres at 1.1 g/t gold, 4.0 g/t silver in the south with only one hole drill hole GNDD-051 (assays pending) currently in between. The Company also notes the recent discovery of extensive surface veining and alteration in porphyry dacite in outcrop to the north of drill hole GNDD-032 which will be tested by drilling. The results of GNDD-031 and GNDD-010 appear to show a distinct increase in the grade towards the thicker parts of the porphyry dacite in the east. Drill hole GNDD- 010 located 150 metres west of GNDD-032 intersected 27 metres at 0.28 g/t gold, 8.4 g/t silver in weakly sericite altered dacite above an intersection of 3 metres at 17.7 g/t gold, 143 g/t silver, 2.5% zinc in the main high-grade skarn. Drill hole GNDD-031 located a further 50 metres east of GNDD-010 intersected 28 metres at 0.43 g/t gold, 5.7 g/t silver, 0.15 % zinc (0.6 g/t AuEq) in porphyry dacite compared to the 116 metres at 1.1 g/t gold, 4.0 g/t silver, 0.2 % zinc in GNDD-032 a further 100 metres to the east. The Company will complete a number of holes to test the intrusion- hosted gold target during the current quarter as part of its expanded 35,000 metre drilling program following the successful completion of the $20 million (before costs) capital raising this month.