Company Overview

PolarX Limited (ASX: PXX) is an ASX-listed mineral exploration and development company advancing a portfolio of high-grade copper, gold and silver projects in premier mining jurisdictions across Alaska and Nevada, USA.

A positive 2024 Mining Scoping Study demonstrated strong commercial potential of PolarX’s existing JORC Resources in Alaska. A new US$39M (~A$60M) Joint Venture with gold mining major, Northern Star Resources is currently funding PolarX’s rapid resource growth in Alaska with a view to early mining.

Alaska Range

The Company’s flagship Alaska Range Project hosts substantial JORC resources at the Zackly Copper-Gold Deposit and the hyper-grade Caribou Dome Copper Project, both of which start from surface, remain open in multiple directions and continue to demonstrate significant expansion potential through ongoing drilling.

Recent exploration programs have successfully extended hyper-grade mineralisation at Caribou Dome from surface, including strong copper intersections outside existing resource boundaries, supporting a major expanded drilling campaign in 2026 and beyond.

At Zackly, PolarX continues to progress metallurgical studies and development assessments while testing large-scale porphyry and magnetite related copper-gold targets across the broader Alaska Range belt.   PolarX expects to significantly extend the Zackly deposit during the 2027 drilling season.

In addition, drilling is planned at an adjoining large-scale 3.5km+ diameter magnetic intrusion evidenced by geophysics and impressive surface sampling for Copper, Gold and Silver.

PolarX’s Alaska assets benefit from existing infrastructure, road access and proximity to processing options, positioning the Company to evaluate potential low-capex development pathways alongside continued resource growth.  Its 2024 Scoping Study already demonstrated impressive economics with assumed metal prices far below current levels.

HUMBOLDT RANGE – NEVADA
The Company also 100% controls the highly prospective Humboldt Range Project in Nevada, one of the world’s premier mining jurisdictions which is located amongst several multi-million-ounce producing gold and silver operations.

Humboldt Range hosts extensive surface mineralisation, high-grade historical Gold and Silver assays and multiple large-scale drill targets.  Recent drilling has confirmed both regional-scale broad gold-silver mineralised systems evident from surface as well as exceptional high-grade vein potential.
Nevada:

• produces over 75% of USA’s gold each year.
• Is consistently voted as the best exploration and mining jurisdiction worldwide.
• Humboldt Range lies between:
  • the 5Moz Florida Canyon Gold mine, and
  • the rapidly growing 5Moz+ Spring Valley Gold Project, and
  • the 400Moz Rochester Silver mine (which also contains 3.5Moz gold), in the same geology.
•  A 3.8km long soil and geophysics anomaly showed commercial grade gold and silver in every hole on first 800m test drilled.
• Mineralisation starts from surface.
• Outcropping and as yet undrilled high-grade quartz veins and historical mines show numerous assays well over 10g/t gold, with peak values of 3,384g/t gold, 4,800g/t silver, 22.9% lead and 3.1% Zinc.
• Surface channel sampling assayed 69m @1.1g/t gold and 7.65g/t Ag.

COMMERCIAL STRATEGY
PolarX is geared to deliver near-term new mines in USA.
Our value creation strategy combines:

• Recognised deposits in well-established mining areas.
• Rapid growth of existing high-grade copper, gold and silver resources
• Discovery of large-scale and bulk-tonnage systems
• Rapid advancement to commercial mining with credible mining partners
• Continuous year-round exploration across Alaska and Nevada

A recent US$39M (A$60M) strategic joint venture with major gold miner, Northern Star Resources Limited (ASX: NST), at the Alaska Range Project provides significant funding support for accelerated exploration and development activities, including PolarX’s largest-ever drilling programs. Partnering with a major provides the ability to finance, build and run a mine.