CZR is coming to life in a big way with around $74 million cash in the bank, some fantastic WA exploration assets and numerous drilling programmes being lined up between now and Christmas.

Managing Director Stefen Murphy led the development and commissioning of the Roper Bar iron ore mine in the Northern Territory. His experience in developing integrated mine-to-port logistics solutions and iron ore marketing has been invaluable to CZR in developing the Robe Mesa iron ore project in the Pilbara.

Mr Murphy commenced his career in the Pilbara as a mine geologist with BHP iron ore and has spent the past 20 years working on mining and exploration projects throughout Australia. In addition to his technical roles, he holds an MBA and has worked in corporate finance roles in Australia and the UK, focused primarily on capital markets and M&A transactions in the resources sector.

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Key Insights:

1. Robe Mesa Iron Ore Sale Delivers $75 Million and Positions CZR as Cash-Backed

CZR Resources has completed the sale of its Robe Mesa Iron Ore Project to the Robe River Joint Venture (Rio Tinto, Mitsui and Nippon Steel), delivering around $75 million in cash. The transaction leaves CZR debt-free and holding a cash balance roughly equivalent to its market capitalisation, effectively making it a cash-backed exploration company. With a strong balance sheet and no debt, CZR is now well positioned to fund aggressive exploration across its portfolio.

2. Croydon Gold Project: Drilling Targets Hemi-Style Intrusions

Freshly funded, CZR has launched an aggressive drilling campaign at its Croydon Gold Project, located about 50 kilometres south-east of De Grey Mining’s Hemi discovery in the Pilbara. Early aircore results have confirmed the presence of diorite intrusions, epithermal quartz veining and gossanous zones — all key indicators of intrusive-related gold systems similar to Hemi. With RC drilling planned through late 2025, the company is aiming to define both shallow epithermal gold mineralisation and deeper intrusion-hosted systems across the Top Camp and Bottom Camp prospects.

3. Edamurta Copper-Zinc Project Shows Golden Grove-Style VMS Potential

CZR’s Edamurta Project, located in the Midwest near Yalgoo, is showing strong signs of volcanogenic massive sulphide (VMS) potential similar to the Golden Grove and Deflector deposits. Recent geophysical surveys have identified strong electromagnetic conductors, consistent with copper-zinc-gold-silver mineralisation. A 3,000-metre RC drilling program is planned to test these high-priority conductor plates, offering multi-commodity upside and the potential to establish CZR as a serious copper-zinc explorer in Western Australia.

4. Strategic Backing from the Creasy Group

CZR continues to benefit from the long-term support and geological expertise of the Creasy Group, led by renowned prospector Mark Creasy, who holds a 51% stake in CZR and a 30% joint venture interest at Croydon. The Croydon tenements were originally pegged by Creasy for their intrusive geological potential, and his ongoing involvement provides both strategic stability and proven exploration pedigree across CZR’s project portfolio.

5. Fully Funded Growth and Retained Iron Ore Upside

Following the Robe Mesa sale, CZR is fully funded to accelerate exploration across its gold and base-metal projects while maintaining exposure to iron ore through the Peters Creek and Darnell’s prospects and its 50% interest in the Ashburton Link infrastructure joint venture. With a strong cash position, multiple high-potential assets, and upcoming drilling at both Croydon and Edamurta, CZR offers a rare combination of financial strength, discovery upside, and portfolio diversity — all while trading around its cash backing.