Greater Duchess Joint Venture Update: Ownership Dispute Resolved

DiscovEx Resources Limited (ASX: DCX) has issued an update regarding the Greater Duchess Joint Venture. This update pertains to Carnaby Resources Limited's (ASX: CNB) recent announcement regarding results from the Lady Fanny Prospect within EPM 14366. DiscovEx has requested the formalization of a joint venture agreement (JVA) consistent with the Heads of Agreement (HoA) signed on March 11, 2019, between DiscovEx and Carnaby. The JVA terms should encompass the Lady Fanny Prospect area, which is now part of EPM 14366 due to its amalgamation with two expired mining leases (ML 5400 and ML 90015).

Carnaby asserts full ownership of the amalgamated area, contrary to DiscovEx's position supported by digital records from the Queensland Department of Resources. According to the HoA, DiscovEx maintains a 17.5% legal and beneficial interest in the entire EPM 14366, including Lady Fanny, while Carnaby holds 82.5%. As a result, the previously covered Mining Leases areas are now part of the Greater Duchess Joint Venture, jointly owned by DiscovEx (17.5%) and Carnaby (82.5%). This update encompasses various tenements in the Greater Duchess Project, situated in Queensland's Mt. Isa Region, with DiscovEx retaining interests in multiple properties.

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