Renewal of the Botilao Exploration Permit Approved

Celsius Resources Limited

05 February 2026

 

ASX/AIM RELEASE

 5 February 2026

Philippine Government Approves Renewal of Botilao Exploration Permit

HIGHLIGHTS

· Philippine Mines and Geosciences Bureau have approved the first renewal of Exploration Permit No. 011-2023-CAR for Celsius' Botilao Copper-Gold Prospect.

· The renewed permit supports ongoing exploration activities with the potential to enhance and complement the MCB Project's future concentrate supply.

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Celsius Resources Limited ("Celsius") (ASX, AIM: CLA) is pleased to announce that the Philippine Mines and Geosciences Bureau ("MGB") has approved the first renewal of Exploration Permit No. 011-2023-CAR for the Botilao Porphyry Copper-Gold Prospect (the "Botilao Prospect"), located in the Cordillera Administrative Region, under its Philippine affiliate company, Makilala Mining Company, Inc. ("MMCI" or "the Company").

The first renewal of the exploration permit grants MMCI authority to continue exploration activities over the Botilao Prospect for an additional two (2)-year period, ensuring continuity of technical studies and field programs aimed at further defining the extent, distribution and characteristics of mineralisation within the permit area.

Under the renewed permit, the Exploration Work Program will focus on advancing geological understanding of the Botilao Prospect through continued surface mapping, geochemical sampling, data integration, and evaluation of targets for potential follow‑up geophysical surveys and drilling activities, subject to regulatory approvals.

These activities will be complemented by the approved Environmental Work Program ("EWP") for the first renewal period, which outlines specific measures for environmental protection, impact mitigation, rehabilitation and monitoring throughout the exploration term. In parallel, the Community Development Program ("CDP") will continue to support socio-economic initiatives identified in consultation with host communities, local government units and other stakeholders, ensuring alignment with regulatory commitments and community priorities.

MMCI Technical Director Peter Hume, said:

"The renewal of the Botilao exploration permit represents an important milestone, enabling the Company to build on the technical work completed to date. Botilao remains a highly prospective tenement with geological similarities to the nearby Maalinao-Caigutan-Biyog Copper-Gold Project ("MCB Project") Deposit and has the potential to provide additional feed that could extend the operating life of the MCB Project process plant. The renewal allows exploration activities to be progressed in a systematic and responsible manner, consistent with the Company's commitments to environmental stewardship and community engagement."

BOTILAO PORPHYRY COPPER-GOLD PROSPECT

Botilao is located in the Cordillera Administrative Region in the Philippines, approximately 320km north of Manila (Figure 1). It is a prospect within the Makilala portfolio with a tenement area of 947.67 hectares, southwest of the MCB Project (Figure 2).

Historical exploration work conducted by Lepanto Consolidated Mining Inc. in the '70s includes drilling diamond bore holes and geochemical sampling along exploratory tunnels. A 1973 inspection and verification report by the Bureau of Mines[1] indicated that Lepanto was able to delineate two (2) major ore zones striking northeast. Drilling and exploration tunnel works were concentrated around Botilao Creek, south of Pasil River. The report indicated tunnel samples with copper grades up to ~1%.

The result of historical exploration works and the current understanding of the MCB Deposit will provide the initial working model for the Botilao Prospect (Figure 3).

Along with geochemical sampling, mapping of different rock types or lithologies in the area will be conducted to characterise and delineate mineralised or altered zones. Detailed mapping will focus on identified mineralised outcrops to ensure proper understanding of the classification and controls of mineralisation.

Figure 1: Location Map of the Botilao Copper-Gold Prospect in the Province of Kalinga, Northern Luzon, Philippines

  

Figure 2.  Location of the Botilao tenement with respect to the MCB Project Tenement. The Pasil River Fault which is the mineralisation control for the MCB Deposit extends towards the Botilao Prospect.

Figure 3. Blue and green copper minerals observed along the walls of the Botilao outcrop.

This announcement has been authorised by the Board of Directors of Celsius Resources Limited.

Forward Looking Statements

Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which the Company operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement.

No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside the Company's control.

The Company does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of the Company's Directors, employees, advisors, or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

Celsius Resources Contact Information

Level 5, 191 St. Georges Terrace

Perth WA 6000

PO Box 7059

Cloisters Square PO

Perth WA 6850

P: [phone]

E: [e-mail] 

W: www.celsiusresources.com

Celsius Resources Limited
Neil Grimes	P: [phone] E:  neil @celsiusresources.com
Multiplier Media (Australia Media Contact)
Jon Cuthbert	M: [phone] E: [e-mail]
Zeus (Nominated Adviser & Broker)	P: [phone]
James Joyce/James Bavister
Zeus Capital Limited ("Zeus") is the Company's Nominated Adviser and is authorised and regulated by FCA. Zeus's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Zeus is not acting for and will not be responsible to any persons for providing protections afforded to customers of Zeus nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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[1] Almogela, D. H. (1973) Report on the Inspection and Verification of the Exploration Activities of Lepanto Consolidated Mining Company, Bureau of Mines, 16-18 March 1973.

 

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