Timor-Leste Tenement Upgrades Granted

Estrella Resources Ltd (ASX: ESR) has successfully converted four Reconnaissance Permits to Exploration and Evaluation Licenses in Timor-Leste, becoming the first company to do so under the new mining laws. These licenses will be part of joint ventures with the state-owned mining company on a free carry term. The conversion allows for more intensive exploration activities like drilling and trenching over a 4-year term with a 6-year extension option. Estrella will engage in community consultation and ceremonial processes as required. The licenses expand exploration possibilities for manganese and limestone prospects, with potential for economic processes. The company plans to conduct drilling, environmental surveys, and sampling, with further work including mapping, stratigraphic analysis, and possible expansions into new areas. Shareholders can expect updates on progress as exploration unfolds. The current concessions are in good standing, and no systemic modern exploration has taken place in the area, providing ample opportunity for potential discoveries. For further inquiries or updates on the company's activities, feel free to contact us.