Celsius Resources Limited announced the extension of the exploration permit for the Sagay Copper Project, held under its Philippine subsidiary, Tambuli Mining Company Inc. located on the Island of Negros in the Philippines. The extension of EP-000003-VI was issued on 1 April 2024 and was based on Section 30 of the Department Administrative Order No. 2010-21, which states that "the exploration permit shall be deemed automatically extended in case it expires prior to the approval of the Declaration of Mining Project Feasibility ("DMPF") and until such time that a mineral agreement is approved".

The Sagay Project's DMPF application submitted to the Philippine Mines and Geosciences Bureau ("MGB") has been accepted and is currently under review. The approval of said application will consequently allow TMCI to apply for a mineral agreement with the Philippine Government. The extended term of the exploration permit for Sagay is limited to comply with the requirements of the DMPF and further updates will be provided to shareholders as TMCI moves through the approval process.

The Sagay Copper Project is located in the north-eastern part of Negros Island, within the cities of Sagay and Escalante in the Province of Negros Occidental, Philippines. Negros Island is part of the central group of Islands in the Philippines commonly referred to as the Visayas. Drilling at Sagay has broadly defined a large-scale copper mineralisation which is interpreted to be a typical porphyry copper style of mineralisation, common throughout the Philippine archipelago.