Hualilan

Challenger Gold is advancing the development of the Hualilan Gold Project, located approximately 125 kilometers northwest of San Juan City, Argentina, in the foothills of the Andes. The project site is situated at an altitude of around meters above sea level, with a dry, mountainous climate that enables year-round access. Toll milling operations are scheduled to begin in Q3 2025, marking the first phase of production at Hualilan. During this phase, a small-scale mining fleet will extract ore and transport it by road to the Casposo plant, where it will be toll-treated under an agreement with the plant operator. This interim stage offers a valuable opportunity to generate early cash flow, establish logistics, and build operational readiness. Full-scale mining operations will commence in 2028 with pre-stripping activities and the construction of a dedicated on-site processing facility, which is expected to begin producing metal in 2029. At peak capacity, the Hualilan operation will feature a large-scale open pit (up to 90 Mtpa), underground mining, a high-grade flotation circuit, and a leach pad. This expansion will mark the transition to long-term, sustained gold production and represents a cornerstone of Challenger Gold’s growth strategy in Argentina.