Challenger Gold Limited Reports Positive Drilling Results at Colorado-V Project in Ecuador

Challenger Gold Limited (ASX: CEL) announced positive initial results from their ongoing drilling program at Ecuador's Colorado-V (CV-A and CV-B) project. The first five drill holes targeting the eastern half of the CV-A anomaly intersected broad zones of mineralization exceeding 500 meters each. Notable intercepts include:

• CVDD-24-020: 573.7 meters at 0.4 g/t AuEq (including 339.3 meters at 0.5 g/t AuEq)
• CVDD-24-022: 599.1 meters at 0.4 g/t AuEq (including 212.7 meters at 0.5 g/t AuEq)
• CVDD-24-019: 496.9 meters at 0.3 g/t AuEq (including 213.8 meters at 0.4 g/t AuEq and 52.0 meters at 0.6 g/t AuEq)

These results confirm consistent mineralization throughout the CV-A anomaly's eastern half, with drilling extending westward. Upon program completion, CEL anticipates a significant maiden Mineral Resource Estimate (MRE). CEL is earning a 50% interest in Colorado-V by investing AU$ 8 million and plans to monetize its Ecuadorian assets post-MRE to focus on its high-grade Hualilan Gold project.

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