Firetail Resources Limited announced that it has completed the acquisition of 60% of the issued share capital of Kiwanda S.A.C. from Valor Resources Limited as initially announced on 5 July 2023. Kiwanda is the entity holding the mining concessions prospective for copper comprising the Picha and Charaque Projects in Peru. Deal History: On July 5, 2023, Announced, Firetail Resources Limited, an Australia-based gold and base metals explorer, to acquire 80% stake in Kiwanda S.A.C, a Peru-based company that operating mainly in the Mining & Metals sector from Valor Resources, an Australia-based exploration company with assets in Peru, one the world's largest producers of base and precious metals for approximately USD 1.5 million.

Binding Terms Sheet executed for the acquisition of up to 80% of the issued share capital of Kiwanda, being a wholly owned subsidiary of Valor that holds the mining concessions comprising the Picha and Charaque Copper Projectsin Peru ("Picha" and "Charaque", together, the "Projects"). Picha is an exciting copper-silver project with multiple drill-ready targets to be tested in coming months. Firetail to receive the partial benefit of the Charaque farm-in deal recently executed by Valor with Barrick Gold Corporation ("Barrick").

Experienced in country management and technical team with proven track record. Valor Executive Chairman, George Bauk, to be appointed to the Board of the Company as a NonExecutive Director and Frank Beirlein is to resign from his current role as a Non-Executive Director of the Company upon completion of the Acquisition. The Company proposes to raise up to $5,000,000 in connection with the Acquisition to commence drilling and associated costs relating to the Projects.