Case Study - Diablo Resources Ltd (ASX:DBO)

October 13, 2021

Diablo Resources Limited (ASX:DBO) is a spin out of US gold and copper projects of Hawkstone Mining Ltd, now Arizona Lithium (ASX:AZL). The company currently has 3 projects in operation: Western Desert (Utah), Devil's Canyon (Nevada) and Lone Pine (Idaho).

Key Investment Highlights of Diablo:

✓ Tier one mining jurisdiction: Three assets all located within western USA, a tier one mining jurisdiction including; Western Desert, Devil’s Canyon and Lone Pine, with drilling to commence shortly after listing

✓ Post listing catalysts: Strong newsflow stream anticipated in Q3/Q4 2021 and Q1 2022 post listing including a maiden drill program and results at both Western Desert and Devil’s Canyon projects.

✓ Commodity class: focused on the exploration of gold as well as copper, commodities which have seen significant investor appetite over recent times and expected to continue

✓ Exploration upside: significant exploration upside at all the Projects. Fund raising to be contributed directly to the exploration of all three projects including Devil’s Canyon, Western Desert and Lone Pine

✓ Current market conditions: many Metals & Mining companies listed on the ASX have experienced re-ratings over the past 12 months due to increased investor appetite in the space. Diablo aims to benefit from this

✓ Board and management: strong Board & management team with significant experience including; the recent successful listing of BPM Minerals Limited (ASX:BPM) and Pantera Minerals Limited (ASX: PFE)

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