CDE

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES

Challenger Deep Resources Corp. ("Challenger" or the "Company") (TSX
VENTURE:CDE) is pleased to announce a private placement of up to $1,500,000 (the
"Private Placement").


Pursuant to the Private Placement, which is subject to acceptance by the TSX
Venture Exchange, Challenger intends to issue, pursuant to applicable exemptions
from registration and prospectus requirements of Canadian and United States
securities laws, up to 10,000,000 Common Share Units (the "Units) at a price of
CAD $0.15 per Unit. Each Unit is comprised of one Common Share and one Common
Share Purchase Warrant (each a "Warrant"). Each Warrant entitles the holder to
purchase one additional Common Share of Challenger at an exercise price of CAD
$0.25 for a period of five (5) years from the date of issuance of the Units. If,
at any time after the expiry of the 4 month hold period, the closing price of
the common shares on the TSX Venture Exchange is at least $0.50 for a period of
30 consecutive trading days, the Corporation may, at its option, accelerate the
expiry date of the warrants by issuing a press release and giving written notice
thereof to all holders of warrants, and, in such case, the warrants will expire
on the date which is the earlier of: (i) the 30th day after the date on which
the press release is disseminated by the Corporation; and (ii) the original
expiry date.


Challenger may pay a finder's fee in connection with the issue and sale of any
or all of the Units under this offering. The finder's fee shall consist of a
payment of no more than 8% of the gross proceeds of the offering in relation to
subscribers introduced by any particular finder. Challenger may also pay
finder's warrants ("Finder's Warrants") exercisable into common shares of
Challenger at a price of $0.25 per Common Share for a period of twelve months
from the date of issuance. The Finder's Warrant's may be issued in an amount
equal to no more than 8% of the aggregate number of Units in relation to
subscribers introduced pursuant to the offering by any particular finder. 


The gross proceeds from the Private Placement will be used for development of
Challenger's Barito coal project in Central Kalimantan, Indonesia and for
working capital purposes.


About Challenger

Challenger Deep Resources Corp. is an exploration company focused on the
Indonesian coal industry. Challenger's business plan is to acquire, explore and
to bring its viable coal projects into production. Challenger has an experienced
Indonesian exploration and mining team with offices in Calgary, Singapore and
Jakarta.


CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. 


READER ADVISORY

Statements in this press release may contain forward-looking information
including, statements regarding expected exploration activities and the
completion of financings. Any statements that are contained in this press
release that are not statements of historical fact may be deemed to be
forward-looking statements. The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be incorrect. Events
or circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of Challenger. Factors that
could cause the actual results to differ materially from those in
forward-looking statements include, granting of exploration permits, surface
access and other licenses from Indonesian regulatory authorities, continued
exploration results, the establishment of commercial quantities of coal,
availability of new acquisitions on commercially acceptable terms, the continued
availability of capital and financing, and general economic, market or business
conditions in North America and in the Asia Pacific region. The reader is
cautioned not to place undue reliance on any forward-looking information. There
can be no assurance that the proposed private placement will be completed, that
exploration programs in Indonesia or other project acquisitions will be
completed or, if completed, will be successful.


The forward-looking statements contained in this press release are made as of
the date of this press release, and Challenger does not undertake any obligation
to update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by securities law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Challenger Deep Resources Corp.
Ranjeet Sundher
President
+65-6220-7745


Challenger Deep Resources Corp.
Kirk Gamley or Mas Kobuchi
Investor Relations
604-689-7422
www.challengerdeep.ca

Challenger Deep Resources Corp. (TSXV:CDE)
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De May 2024 a Jun 2024

Challenger Deep Resources Corp. (TSXV:CDE)
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De Jun 2023 a Jun 2024