Challenger Exploration Limited is an Australia-based gold and copper exploration company. The Company’s project include the Hualilan project, El Guayabo project, and Karoo Basin Gas project. The Hualilan project consists of 15 mining leases and an exploration license application covering the surrounding area of approximately 26 square kilometers (km2). The Hualilan Project is located approximately 120 kilometers (km) north-northwest of San Juan, the capital of San Juan Province in north-western Argentina. The El Guayabo Gold/Copper project is located within the El Oro Province of southern Ecuador, approximately 35 Kilometers south southeast of Machala. The Karoo Basin Gas project extends across 600,000 km2 is located in central and southern South Africa. The El Guayabo project consists of metamorphic rocks intruded by a series of nested late Oligocene to early Miocene alkalic porphyry intrusions.