Quarterly Highlights

Verum Terra Geoscience Inc. has released its Fourth Quarter 2023 Operational Report, showcasing strong performance across all key metrics including exploration progress, safety performance, environmental compliance, and community development investments. The quarter marks a period of significant advancement for the company’s Eastern Samar operations.

Exploration and Resource Development

Key exploration accomplishments during Q4 2023 include:

• Completion of 3,200 meters of diamond core drilling across 28 drill holes
• Geological mapping coverage expanded by 450 hectares within the MPSA area
• Collection and analysis of over 1,800 soil and rock samples
• Preliminary resource estimate upgraded to Indicated category for the primary target zone
• Identification of three new exploration targets based on geochemical anomalies

Financial Performance

The company reported healthy financial metrics for the quarter, with exploration expenditures totaling ₱48.5 million — representing a 15% increase over the previous quarter. This increased investment was directed primarily toward the infill drilling program and advanced analytical testing. The company maintained strong cash reserves sufficient to fund planned activities through the first half of 2024.

Community Development Spending

During Q4 2023, Verum Terra invested ₱12.3 million in Social Development and Management Program (SDMP) initiatives, including:

• ₱4.2 million for infrastructure projects in host barangays
• ₱3.1 million for education and scholarship programs
• ₱2.8 million for livelihood and skills training projects
• ₱2.2 million for health and sanitation programs

Outlook for 2024

Looking ahead, the company outlined ambitious plans for 2024, including the completion of a bankable feasibility study, expansion of the exploration program to adjacent targets, and a continued increase in community development investments. The management team expressed confidence in the project’s trajectory and its potential to deliver lasting value for shareholders and stakeholders alike.