Pursuit Minerals

Pursuit Minerals (ASX:PUR) is an emerging pure-play on Argentina’s world class lithium and gold potential, advancing a dual-commodity platform designed for near-term development and long-term scale.

The Company’s flagship Rio Grande Sur Lithium Project in Salta hosts a 1.1 Mt LCE JORC resource and is underpinned by a fully operational pilot plant that has successfully produced 99.5 % lithium carbonate, validating commercial flowsheet design. A 5,000 tpa pre-feasibility study is now underway, targeting first small-scale production while positioning for modular expansion under Argentina’s emerging RIGI investment regime.

Complementing this, Pursuit has acquired the Sascha Marcelina Gold-Silver Project in Santa Cruz, a high-grade, drill-ready system within the prolific Deseado Massif, host to Tier-1 deposits such as Cerro Negro and Cerro Vanguardia. Historical drilling and geophysics confirm multiple mineralised vein corridors with bonanza-grade potential, offering a fast-track pathway to resource growth and discovery.

Through this focused platform, Pursuit delivers investors a pure, Argentina-centric exposure to two of the most strategic commodities of the decade: lithium for the energy transition and gold for value preservation supported by near-term development catalysts and significant exploration upside.


Management Profile

Mr. Aaron Revelle, Managing Director & CEO and Mr. Peter Wall, Chairman

Mr. Revelle is a senior mining executive with significant experience in the development and founding of natural resources companies. Aaron has over 15 years experience across a variety of commodities with a focus on bringing resource deposits into production. Prior to founding Trilogy Minerals and joining Pursuit, Aaron was the founder of Argentinian Lithium focused exploration company Centaur Resources which was sold to Arena Minerals (CVE:AN – market cap C$190.9m) for A$23m in 2020. In December 2022, Arena Minerals was acquired by Lithium Americas Corp (TSX:LAC) for US$227 million (C$311 million).

Mr Wall is a Partner with leading Australian Law Firm Steinepreis Paganin with significant experience in wide ranging experience in mergers, acquisitions, takeovers, reconstructions and recapitalisations. His core areas of practice include energy, resources, capital markets and strategic advice. Peter is also Chairman of Minbos Resources listed on the ASX.


What is your rationale for taking part in 121 Mining Investment?

Raising awareness of Pursuit and its project platform


What recent news would you like to highlight to investors attending?

- November 2025: Completion of the Sascha Marcelina acquisition and release of the Rio Grande PFS.
- January / February 2026: Commencement of drilling at Sacha Marcelina.


What are your key goals for the next 3, 6 and 12 months?

3 Months

Release of the 5,000 tpa Pre-Feasibility Study (PFS) for the Rio Grande Sur Lithium Project, defining a clear, staged pathway to commercial-scale production.

Continue steady-state operations at the 250 tpa Pilot Plant in Salta, producing 99.5 % Li₂CO₃ for qualification and offtake testing.

Commence mapping and initial drilling at the Sascha Marcelina Gold-Silver Project, targeting high-grade vein systems within the Deseado Massif.

6 Months

Maintain continuous lithium carbonate output from the Pilot Plant and advance environmental and engineering approvals for the relocation of the facility to the Rio Grande site.

Finalise offtake MoUs and financing discussions supported by pilot-scale data and PFS economics.

Deliver initial assay results from Sascha Marcelina drilling, refine structural and geophysical models, and plan follow-up deeper drilling across the Pellegrini and Estancia trends.

12 Months

Commence relocation and on-site commissioning of the Pilot Plant at Rio Grande, initiating small-scale production from the salar.

Advance the Bankable Feasibility Study (BFS) and 5,000–15,000 tpa expansion planning, including evaporation pond construction and long-lead procurement.

Execute Phase 2 drilling at Sascha Marcelina focused on step-out and deeper targets, aiming to define a maiden resource and demonstrate district-scale growth potential.


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Argentina-specific macro and regulatory settings, permitting and logistics timing, and the typical scale-up risks from pilot to commercial are the principal challenges. We mitigate these through a staged, modular development path anchored by an existing 1.1 Mt LCE JORC resource, an operational pilot plant that has produced 99.5% Li₂CO₃, strong provincial relationships in Salta and Santa Cruz, disciplined engineering and procurement, and early engagement with offtake and financing partners. At Sascha Marcelina, seasonal access and permitting are addressed via forward scheduling, local contractors and permitting workstreams that run in parallel with targeting.


What do you think makes your company such a compelling investment?

Pursuit is a pure-play on Argentina with two high quality pillars. Rio Grande Sur combines an established 1.1 Mt LCE JORC resource with an operational pilot plant that has already produced 99.5% lithium carbonate, providing real operating data and a clear path to a 5,000 tpa development. Sascha Marcelina adds high-grade gold-silver discovery potential in the Deseado Massif, a province that hosts multiple Tier-1 epithermal systems. Together, these assets offer near-term technical de-risking, scalable growth and leverage to two strategic commodities: lithium for the energy transition, and gold for value preservation all within one Argentina focused platform.


What are the top 3 key investor takeaways?

1. Near-Term Lithium Production and Growth Platform
Pursuit is one of the few ASX-listed companies with operational lithium carbonate production at pilot scale (99.5 % purity) and a completed 5,000 tpa PFS at its Rio Grande Sur Project. The staged, low-CAPEX pathway to commercial output provides immediate de-risking and clear visibility toward scalable production.

2. High-Impact Gold-Silver Discovery Pipeline
The recently acquired Sascha Marcelina Project delivers exposure to high-grade, drill-ready gold-silver systems within Argentina’s Deseado Massif, comparable to Tier-1 mines such as Cerro Negro. Multiple mapped and IP-defined vein corridors offer rapid discovery potential and near-term catalysts.

3. Pure-Play on Argentina’s Critical Metal Opportunity
Pursuit offers investors a focused, Argentina-centric platform spanning two of the most strategic commodities of the decade: lithium for energy transition and gold for value preservation, supported by tangible production milestones, government-backed policy (RIGI), and a strong pipeline of expansion and offtake discussions.