Challenger Exploration provided its Quarterly Activities Report for its Gold and Copper projects in Argentina and Ecuador for the period ended 30 September 2021. high-grade samples are supported by additional stream sediment samples which define 4 discrete gold geochemical targets within a zone of anomalous geochemistry over approximately 10km strike length. As a first step in exploration, The Company intends to expand its ground magnetic data to cover the entire 97.5 square kilometres of the new concessions and follow up areas of anomalous surface geochemistry with ground geological mapping to identify the source of the mineralisation Challenger is in a strong financial position, with cash at the end of the quarter $36.9m. Spend during the quarter was $13.5m of which approximately $1.0m was Argentinian VAT which will be recouped and approximately $5m was a one-off payment related to the 100% purchase of Hualilan. The balance was repayments and expenses related to the Riverfort facility. Payments to related parties for the quarter, as per section 6 of the Appendix 5B was $150,000 for Director's consulting fees. The net exploration expenditure for the quarter with 9 rigs completing 27,856 metres in Hualilan, exploration in Ecuador (including advance payments to Ecuadorian drill contractor), and all overheads was approximately $8m, primarily drilling and assay expenditure. COVID-19; The Company continues to work with all levels of government and local communities in relation to COVID-19. In addition to its regular community support activities during COVID-19, which include the donation of fortnightly food packs to the 100 most needy families in its local community in around the El Guayabo Project, the Company agreed to donate a number of oxygen bottles to the Santa Rosa community at the request of the local mayor. During the quarter there were no incidences of COVID-19 at any of the Company's projects and all of the companies employees from Ecuador are fully vaccinated for COVID-19. The Company's priority remains the health and wellbeing of all its staff and contractors and their families. Previous drilling by CEL at Sentazon intersected mineralisation over 150 metres of strike and 100 metres down dip at Sentazon with the mineralisation open along strike, at depth, and up-dip into the Hualilan Hills. Additionally, GNDD-142 had intersected a broad zone of high-grade mineralisation 50 metres below the Sentazon Manto returning an intercept of 40.0 metres at 6.2 g/t AuEq in limestones and intrusives. The program of extensional drilling at Sentazon during the quarter was designed to test for: extensions to the Sentazon Manto along strike, up-dip, and down-dip of the existing mineralisation; and follow the GNDD-142 discovery to the east to determine if this was a new zone of mineralisation below the Sentazon Manto or a third potential east-west fault analogous to the Magnata Fault. During the quarter the Company received assays results for 22 Sentazon holes with the results substantially exceeding The Company's expectations. The program confirmed the intercept in GNDD-142 as a significant new zone of high-grade gold mineralisation in the footwall below the existing high- grade mineralisation at Sentazon. It increased the down-dip extent of the high-grade mineralisation at Sentazon 300% from 100 metres to 300 metres. Additionally, several deeper drill holes in this program (assays pending) have intercepted zones of massive sulphides in limestone containing pyrite-sphalerite-pyrrhotite with garnet-silica-pyroxene (skarn) alteration another 100 metres down-dip of the current high-grade results. This drilling is being done on fences spaced 40 metres apart with holes on each fence collared to test Sentazon approximately 40 metres below the previous hole. Section 230 (GNDD-296, GNDD-314, GNDD-362) Cross Section 230 (Figure 3) shows the southern line of drilling in the follow up program at Sentazon. It contains GNDD-296, GNDD-314, GNDD-362, and deeper hole GNDD-414 for which assays are pending. GNDD-296 intersected almost 30 metres of mineralisation including 10.0 metres at 1.0 g.t AuEq (0.4 g/t gold, 1.6 g/t silver, 1.2% zinc) from 173m which is interpreted as the main Sentazon Manto which was defined historically. The intercept in the main Sentazon Manto extended the mineralisation 60 metres down dip below GNDD-013 (7.0 metres at 2.7 g/t AuEq). It also confirmed that earlier CEL drill hole GNDD-044 was not drilled deep enough to reach the main Sentazon Manto or the underlying footwall mineralisation. GNDD-296 then intersected 16.9 metres at 16.9 g/t AuEq (14.1 g/t gold, 18.3 g/t silver, 5.8% zinc) from 193.0m including 7.1 metres at 32.2 g/t AuEq (28.1 g/t gold, 36.1 g/t silver, 8.3% zinc) and 2.9 metres at 18.8 g/t AuEq (13.1 g/t gold, 13.0g/t silver, 12.6% zinc). This deeper intercept correlates to the new zone of footwall mineralisation at Sentazon. The intercept extends the new Footwall Zone 100 metres down-dip from GNDD-106 (25 metres at 0.7 g/t AuEq including 4.0 metres at 2.6 g/t AuEq) and 35 metres along strike from GNDD-142 (40.0 metres at 6.1 g/t AuEq). It demonstrates higher grades and confirms that several earlier holes were not drilled deep enough to intersect this new Footwall Zone at Sentazon. GNDD-044e was an extension of early CEL drill hole GNDD-044 which was terminated prior to reaching the Footwall Zone of mineralisation. GNDD-044e successfully intersected the footwall zone returning 4.6m at 25.6 g/t AuEq (24.3 g/t gold, 23.0 g/t silver, 2.2% zinc) from 213.0m and 10.2m at 14.2 g/t AuEq (12.5 g/t gold, 10.6 g/t silver, 3.5% zinc) from 230.0m including 4.5m at 25.6 g/t AuEq (23.6 g/t gold, 14.1g/t silver, 4.3% zinc). The hole confirmed the continuity of the Footwall Zone mineralisation in the 100 metres between GNDD-296 (16.9 metres at 16.9 g/t AuEq) up-dip and GNDD- 314 (2.8m at 62.5 g/t AuEq) downdip. GNDD-314 intersected three zones of mineralisation starting with intercepts of 2.7 metres at 1.7 g/t AuEq (1.5 g/t gold, 13.8 g/t silver, 0.1% zinc) from 115.4 m including 1.4 metres at 2.7 g/t AuEq (2.4 g/t gold, 21.3 g/t silver, 0.1% zinc) and 4.0 metres at 0.6 g/t AuEq (0.3 g/t gold, 11.8 g/t silver, 0.2% zinc) from 102.0m. These intercepts are at the shale-limestone contact and at the top of an underlying intrusive unit which is mineralised throughout Cerro Sur. Lower grade mineralisation also extends into the overlying shales which is observed throughout the project including at Verde over 2 kilometres to the north. The hole then intersected 17.5 metres at 1.9 g.t AuEq (0.7 g/t gold, 11.5 g/t silver, 2.4% zinc) from 205.0m including two higher grade sones of 2.2 metres at 9.1 g/t AuEq (3.7 g/t gold, 33.6 g/t silver, 11.4% zinc) and 3.0 metres at 2.7 g/t AuEq (0.8 g/t gold, 14.3 g/t silver, 3.9% zinc). This is interpreted as the main Sentazon Manto mineralisation which was defined historically and is continuous with mineralisation immediately north.