Business Summary

EQ Resources Limited is an Australia-based company focused on the exploration and development of its portfolio of assets. The Company is transforming its tungsten assets at Mt Carbine in North Queensland and also holds gold exploration licenses in New South Wales at Panama Hat (Broken Hill) and Crow Mountain. The Mt Carbine project is located approximately 120 kilometers (km) by sealed road northwest of the port of Cairns in Far North Queensland. Its tenements include ML4867, ML4919, EPM14871, EPM14872 and EPM27394. Its Panama Hat (EL 8024) covers 55 square kilometers and is located approximately 25 kilometers (km) southeast of Broken Hill in New South Wales and comprises the Huonville Gold Field, which lies within the Proterozoic Broken Hill Block. Its Crow Mountain (EL6648) covers 26 square kilometers and is located approximately 30km southeast of Barraba in northern New South Wales.