Buxton Resources Ltd. updated shareholders on progress at Buxton's Copper Wolf Project, Arizona USA. IGO Limited have notified Buxton of their intention to fund a deep diamond drill hole at the Copper Wolf Project as part of their due diligence program during the initial option period under the Earn-in and Joint Venture Agreement (Agreement) with Buxton. IGO has a 2-year period to take up its right to a 51% JV interest in the Copper Wolf Project, and an unincorporated Joint Venture will be established at that point with Buxton owning 49% and IGO 51%.

Under the terms of the Agreement, IGO may earn a further 19% Joint Venture interest (Stage 2: to take its joint venture interest to 70%) by sole funding exploration expenditure of AUD 5,000,000 over 3 years. All Buxton expenditures reimbursed by IGO during the Agreement option period are credited towards IGO's Stage 2 earn-in if IGO exercises its option. In total, IGO will fund a AUD 1.6M program, which includes a nominal 1100m of diamond drilling in the Bobcat Zone target nearby historic drillhole RC-UC-17 which intersected 253m @ 0.84% CuEq1 (0.31% Cu and 0.064% Mo).

The location of planned hole CPW_P01. Buxton, as Project Managers under the Agreement, currently have an experienced Exploration Manager onsite in Arizona and have secured land access agreements to commence as soon as a suitably qualified drilling contractor becomes available.