Name of the Project
Hualilan gold project.

Location
Department of Ullum, San Juan province, Argentina.

Project Owner/s
Challenger Gold, through Golden Mining and related project entities.

Project Description
A prefeasibility study published in May 2026, has determined that Hualilan can be developed as a conventional truck-and-shovel openpit mine with on-site processing.

The selected development concept includes a 1.5-million-tonne-a-year process plant incorporating crushing, grinding, flotation, leaching and doré production, and an eight-million-tonne-a-year heap-leach facility, designed to treat suitable ore through modular crushing and leaching. 

This dual-stream approach allows for ore to be routed according to value, metallurgy and overall project economics, consequently improving flexibility and supporting a more resilient operating strategy.

Life-of-mine production is estimated at 1.84-million ounces of gold equivalent over 14.25 years.

The project forecasts production of more than 105 000 oz/y gold equivalent in Year 1 and 2, followed by 12 years of production averaging 135 000 oz/y gold equivalent.

Potential Job Creation
The project is expected to create 900 new jobs.

Net Present Value/Internal Rate of Return
Using a $3 500/oz gold price, the project has a net present value, at a 5% discount rate, of $1.45-billion and an internal rate of return of 45%, with a payback of 2.25 years.

Capital Expenditure
$232-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None disclosed.

Contact Details for Project Information
Challenger Gold, tel +61 8 6385 2743 or email admin@challengergold.com.