Challenger Exploration Limited (CEL) is an Australia-based gold producer company focused on developing two gold/copper projects in South America. The Company’s projects include Hualilan project and El Guayabo Gold/Copper project. The Hualilan project is located approximately 120 kilometers north-northwest of San Juan, the capital of San Juan Province in north-western Argentina. The Hualilan Gold project consists of approximately 15 mining leases and exploration license applications covering the surrounding 26 square kilometers. The El Guayabo Gold/Copper project covers approximately 35 square kilometers in southern Ecuado. The El Guayabo Gold/Copper project has multiple targets, including breccia hosted mineralization, flat lying late-stage vein system and underlying porphyry system target.