Investor Newsletter, February 2025

Dear Investor,

Time and space. Many years ago, as a young geologist, I was taught the value of time-space analysis in mineral exploration and today as an older geologist, I am reminded that some techniques remain immutable and eternal, despite the relentless force of change. From our perspective, things happen somewhere and occur at some point in time (just provoked a collective yawn from all the quantum brains out there). In exploration its useful to know when, as well as where ore deposits formed as that will help you identify the rocks and structures (faults, fractures, foliation, folds etc) likely to host your mineral of choice. Like fine wines, some would even invoke specific good “vintages” or exciting epochs of time when large and valuable ore deposits where emplaced and I would tend to agree with them.

In mineral exploration (as with life), it’s useful to have what you want in sharp focus and what you might be happy with as something of a peripheral blur. Deviations are inevitable, but pointing the ship at some desirable destination ensures at-least that you have the best chance of getting there. At the mine and resource scale, the exploration destination is pragmatic and generally obvious. At the continent, country and regional scale, the destination can be obscure and if ignored, can lead to much wasted time and money.

A time space analysis is essentially a study, compiled as a graphical story board of a continent, country or region’s geologic and metallogenic history. It’s a story assembled from numerous broadly relevant but non-specific anecdotes that are often secluded and parochial. For the most part, these are peer-reviewed scientific articles in-which authors are encouraged to focus on the data (the trees) and sometimes fail to notice the regional relevance (the forest). That is certainly no crime, a good exploration time-space analysis will exploit all manner of geoscience facts, such that a team of micro-palaeontologists can hardly be blamed for ignoring the exploration relevance of a certain ostracod they have obsessed over for most of their careers! That revelation is the job of the exploration geologist compiling the study.

I don’t intend to explain the process; it’s no secret and it is a simple methodology widely applied by good explorers to rigorously define and generate targets. I am raising it now as it is one of those intellectual tools which requires continuous iteration, update and communication, especially as exploration advances and field teams assemble their own valuable observations. Integrating ones own field observations is the point where significant breakthroughs can be made, models refined, and exploration programs practically adapted to maximise the chance of success. We are just arriving at this point in Morocco.

Exploration Update

Saudi Arabia

At Jabal Sahabiyah, RAB and RC-drilling is due to commence this week. RAB drilling is directed towards testing geophysical anomalies and gossanous float beneath recent cover in dry-river beds and RC-drilling is aimed at testing targets at Hanash South, Jabal M and Hanash North. Reconnaissance teams are busy reviewing potential new tender areas.  

Dinner at reconnaissance camp and desktop drill targeting in KSA

Next in Saudi Arabia

• Drilling Jabal Sahabiyah area
• Prepare for new tender acquisitions

Morocco

Final results and a decision on Alouana is awaited, drill targeting at Lalla Aziza is now complete and drill-permitting is underway. A field review of further acquisition opportunities has been completed and a reconnaissance review of exploration targets is currently underway.  

Reconnaissance exploration and camp hospitality in Morocco

Next in Morocco

• Drill results and decision on Alouana
• Drill permitting Lalla Aziza
• Application and acquisition of new opportunities

Exploration Travel Vlog 7 Project Reviews Morocco

Check out our YouTube channel and catch up on previous episodes here if you haven’t already!

Upcoming Events

We will be attending the following events in 2025,

• 2-5th March - PDAC in Toronto

Thank you for your continued support and trust in our vision. We look forward to sharing more videos and updates with you in the coming months.

Respectfully Yours,
Royal Road Minerals