Godolphin Resources Limited (ASX:GRL) ('Godolphin' or the 'Company') is pleased to advise that it has received $600,000 in exploration tax credits for the 2024/2025 income year as part of a successful application to the Australian Federal Government's Junior Minerals Exploration Incentive program (www.ato.gov.au/JMEI).
The JMEI is an initiative designed to encourage investment in eligible exploration companies undertaking greenfields mineral exploration in Australia. The JMEI program allows these companies to relinquish a portion of their tax losses for potential distribution as exploration credits to eligible investors.
The $600,000 allocation will provide additional financial support to Godolphin as it conducts exploration activities across its enviable landholding of rare earth elements, gold and copper projects in the Lachlan Fold Belt in NSW. Godolphin will distribute these JMEI exploration credits to eligible investors who participate in any future new share issues.
Managing Director Ms Jeneta Owens said: 'We are pleased to have been named in the list of JMEI participants for the income year ending 2025 and, on behalf of the Board, I would like to thank the Commonwealth of Australia for their ongoing support for the junior exploration sector.' 'Following the Company's recent placement, Godolphin is well positioned to continue its exploration initiatives across its highly prospective suite of 100%-owned rare earths, copper and gold projects. The Company has a number near term developments planned and looks forward to updating shareholders as these materialise in the coming weeks.'
This market announcement has been authorised for release to the market by the Board of Godolphin
Contact:
Jeneta Owens
Managing Director
Tel: +61 417 344 658
Email: jowens@godolphinresources.com.au
About Godolphin Resources
Godolphin Resources (ASX: GRL) is an ASX listed resources company, with 100% controlled Australian-based projects in the Lachlan Fold Belt ('LFB') NSW, a world-class gold-copper province. A strategic focus on critical minerals and green metals through ongoing exploration and development in central west NSW. Currently the Company's tenements cover over 3,500km2 of highly prospective ground focussed on the Lachlan Fold Belt, a highly regarded providence for the discovery of Rare Earth Elements, Copper, Gold and Base Metal deposits. Additional prospectivity attributes of GRL tenure include the McPhillamys gold hosting Godolphin Fault and the Boda gold-copper hosting Molong Volcanic Belt. Godolphin is exploring for clay hosted REE's in both NSW and QLD, structurally hosted & epithermal gold, base-metal deposits and large, gold-copper Cadia style porphyry deposits in the Lachlan Fold Belt. It is pleasing to be continuing a focus of exploration efforts to define new targets for unlocking the potential of its East Lachlan tenement holdings and increasing the mineral resources of its advanced Lewis Ponds Gold & Base Metals Project and Yeoval Copper Gold Project. Reinvigoration of exploration efforts across the tenement package is the key to discovery and represents a transformational stage for the Company and its shareholders.
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