News

20 May 2026 | Western Australia - OZZ Resources has entered into a binding agreement to acquire a 100% interest in Sulphide Minerals Pty Ltd, giving it ownership of the Bedaburra Nickel-Copper-Cobalt Project in Western Australia’s Murchison region.

The Bedaburra Project comprises two granted exploration licences, E52/4179 and E52/4195, covering approximately 43.54km². The project is located about 115km northwest of Meekatharra and is considered prospective for nickel, copper, cobalt and other critical minerals.

OZZ said it intends to raise up to $5 million through a public offer to support exploration of the newly acquired project. Completion of the acquisition remains subject to OZZ shareholder approval, regulatory approvals, re-compliance with ASX Listing Rules, a successful equity raise and other standard conditions.

The company intends to re-comply with Chapters 1 and 2 of the ASX Listing Rules as a junior exploration company focused on nickel, copper, cobalt and other critical minerals important to the energy transition.

The Bedaburra Project is prospective for two styles of nickel mineralisation: laterite-hosted nickel-cobalt mineralisation developed from weathered ultramafic rocks, and primary magmatic nickel-copper sulphide mineralisation associated with differentiated mafic-ultramafic intrusive rocks and potential feeder structures.

Why it matters: The acquisition gives OZZ exposure to battery and critical minerals at a time when nickel, copper and cobalt remain important to energy transition supply chains. The project sits within the broader West Yilgarn nickel-copper-PGE province, an under-explored region extending along the western margin of the Yilgarn Craton.

Historical exploration at Bedaburra dates back to the 1960s and included geological mapping, surface geochemistry, geophysical surveys and shallow drilling. Approximately 111 historical drill holes have been completed across the project area, although the historical drilling does not comply with the 2012 JORC Code and is treated as historical context only.

OZZ said recent 2025-2026 soil geochemistry work defined coherent multi-element anomalies, with nickel, copper and cobalt results supporting further exploration. The company also highlighted several drill-ready targets, including untested magnetic, gravity and IP anomalies, the historical BH62 hole that ended in nickel-copper sulphide mineralisation, and the Squatters Tank EM anomaly, which extends onto the project area.

The proposed two-year exploration program includes infill soil sampling, rock chip sampling, modern airborne or ground electromagnetic surveys, gravity and IP surveys, and drilling of laterite-hosted nickel-cobalt targets and deeper magmatic nickel-copper sulphide targets.

OZZ has been suspended from quotation since June 2024. The company said its shares will remain suspended until it has re-complied with ASX requirements, completed the acquisition process and satisfied the conditions for re-quotation. An indicative timetable points to a shareholder meeting in June 2026, public offer in late June to July, and potential ASX re-quotation by the end of July 2026, subject to approvals.

Source: OZZ Resources ASX announcement, “OZZ to Acquire Nickel-Copper-Cobalt Focussed Sulphide Minerals”, 20 May 2026.

20 May 2026 | Queensland - Maronan Metals has secured a $22 million strategic investment from Kinterra Capital, providing funding for an expanded 2026 drilling program and the delivery of a Preliminary Feasibility Study on a larger-scale Maronan Project.

The investment will see Kinterra Critical Materials & Infrastructure Opportunities Fund II become a 19.99% strategic investor in Maronan through a private placement priced at 35.08 cents per share. Following completion, Maronan’s pro-forma cash position is expected to increase to approximately $36.6 million, based on its 31 March cash balance.

Maronan said the funds will be used to progress and de-risk the Maronan Project, including an expanded drilling program aimed at increasing the Indicated Resource base beyond the Starter Zone. The company will also advance technical and regulatory workstreams required to complete a Preliminary Feasibility Study and support future development decisions.

Maronan Chairman Simon Bird said Kinterra’s investment was a strong endorsement of the Maronan Project and validation of the company’s larger-scale development plan. Managing Director Richard Carlton said Maronan is now fully funded for the expanded drilling program, which he described as one of the critical workstreams needed to support a PFS on a larger and longer-life project.

Why it matters: The investment strengthens Maronan’s balance sheet at an important stage for the project. With drilling, geotechnical assessment, metallurgical studies and development planning now being advanced in parallel, the company is moving from resource definition toward feasibility and development planning.

The Maronan Project is located in the Cloncurry region of northwest Queensland, within the North West Minerals Province. The project hosts a large silver-lead Mineral Resource with additional copper-gold mineralisation, and is located in an established mining region with access to infrastructure and nearby processing facilities.

Kinterra Capital is a private equity firm with approximately US$1.5 billion in committed capital and nearly 20 years of critical minerals investment experience. Maronan said the strategic investment brings not only funding, but also access to Kinterra’s project development experience.

Under the agreement, Kinterra will be entitled to nominate one non-executive director or non-voting observer to the Maronan board, as well as one representative to any technical working group established for the project, subject to maintaining a minimum voting power of 10%.

For the broader resources sector, the investment highlights continued interest in Australian critical minerals and base metals projects, particularly those with scale potential, existing infrastructure advantages and exposure to commodities such as silver, lead, copper and gold.

Source: Maronan Metals ASX announcement, “$22 Million Strategic Investment by Kinterra Capital”, 20 May 2026.

19 May 2026 | Western Australia - Bellevue Gold has delivered first development ore from the high-grade Deacon North area at its Bellevue Gold Mine, marking another step in the company’s ramp-up and production growth plan.

The company said first ore from Deacon North was mined on schedule in May 2026, with development continuing for the remainder of FY26. Stoping is scheduled to commence early in FY27, with both development and stoping production expected to ramp up steadily through the year.

Bellevue said Deacon North will be a key source of high-grade material in FY27 and is expected to complement the established Deacon Main mining area immediately to the south. Combined output from Deacon North and Deacon Main is expected to provide a more reliable and consistent source of ore, supporting stable production for FY27 and beyond.

Grade control results from Deacon North have aligned with expectations, with Bellevue reporting several strong intercepts including:

• 6m at 32 g/t gold
• 2.5m at 59.1 g/t gold
• 8.1m at 16.9 g/t gold
• 4.6m at 29.6 g/t gold
• 4.5m at 29.2 g/t gold
• 7.4m at 14.2 g/t gold

The company also said sampling from the first 13 production faces showed the average development grade was performing better than initially anticipated. The main structure of the Deacon North orebody has aligned well with geological expectations, with higher sulphide content and increasing ore grades expected in subsequent levels.

Why it matters: Deacon North is important because it adds another high-grade mining front at Bellevue. With Deacon Main and Viago already established, the addition of Deacon North gives Bellevue more flexibility and should help support a more consistent ore feed as production increases through FY26 and FY27.

Bellevue has stated it remains on track to meet FY26 guidance of 130,000 to 150,000 ounces of gold, with all-in sustaining costs of A$2,600 to A$2,900 per ounce. The company said production is increasing through FY26 as higher-grade areas including Deacon, Deacon North and Viago contribute more ore.

Bellevue has also highlighted a strong balance sheet, reporting A$181 million in cash and gold as at 31 March 2026, along with A$100 million of bank debt and no mandatory repayments until 2027.

Exploration remains part of the growth story, with surface drilling completed and a second phase underway. Bellevue said downhole electromagnetic surveys are commencing to refine targets, while a sixth underground diamond drill rig is scheduled to arrive on site during the June 2026 quarter and begin underground exploration drilling in FY27.

For Western Australia’s gold sector, the Deacon North milestone shows Bellevue continuing to move from ramp-up into more established production, with multiple high-grade areas now contributing to the mine plan.

Source: Bellevue Gold ASX announcement, “First ore from high-grade Deacon North delivered on schedule”, 19 May 2026; Bellevue Gold Canaccord Global Mining Conference presentation, May 2026.

18 May 2026 | Western Australia - Ora Banda Mining has announced a major growth push at its Davyhurst Gold Project, approving key projects aimed at supporting its new “DRIVE to 300” aspiration.

The company has approved construction of a new standalone 3.0Mtpa processing plant at Davyhurst, with the project expected to lift combined nameplate milling capacity to 4.2Mtpa when added to the existing 1.2Mtpa Davyhurst mill.

The new plant forms part of Ora Banda’s broader plan to build a larger, lower-cost and more flexible gold business in Western Australia. The company has estimated total capital expenditure for the expansion at A$375 million, including an expected A$233 million EPC contract with GR Engineering Services, which has been appointed preferred contractor.

GR Engineering’s scope covers design, procurement, construction, installation and commissioning of the new 3.0Mtpa process plant. The project is located approximately 120km north-west of Kalgoorlie.

Ora Banda said works are planned to commence early in FY27, with commissioning scheduled for the March quarter of FY28.

The company has also approved development of Waihi Underground as its third underground mine, with a capital cost of A$90 million. A portal is planned for Q2 FY27, with development to focus on fast-tracking access to the high-grade Golden Pole lode. Steady-state production is scheduled for Q1 FY28.

Ora Banda Managing Director Luke Creagh said the DRIVE to 300 plan was the company’s next phase of growth, building on earlier DRIVE to 100 and DRIVE to 150 achievements. He said the potential doubling of production was currently expected to be capable of being internally funded and could position Ora Banda as a long-term sustainable gold business.

Why it matters: The Davyhurst expansion is a significant development for the Western Australian gold sector. A new 3.0Mtpa plant, combined with additional underground and open pit growth options, would give Ora Banda greater processing capacity, reduce reliance on third-party milling and provide more flexibility across its mine plan.

The announcement comes alongside a major resource and reserve update for the Davyhurst Gold Project. Ora Banda reported a total Mineral Resource estimate of 54.8Mt at 2.0g/t gold for 3.57Moz, an increase of 1.46Moz from 1 July 2025. The company’s total Ore Reserve estimate also increased 136% to 7.8Mt at 2.2g/t gold for 555koz.

The updated reserve includes a maiden Waihi Underground Ore Reserve of 825kt at 3.8g/t gold for 101koz, including the Golden Pole lode, and a maiden Round Dam Ore Reserve of 3.7Mt at 1.9g/t gold for 223koz from five open pits across 3.6km of strike.

Ora Banda said the key projects are targeted to deliver benefits including increased scale, lower unit costs, removal of third-party milling costs, operating efficiencies and reduced single-asset risk through dual mill optionality.

For contractors, suppliers and mining professionals, the expansion points to continued activity across the Davyhurst region, including processing plant construction, underground development, open pit growth and ongoing exploration.

Ora Banda has noted that DRIVE to 300 is an aspirational target and not a production forecast or production target at this stage.

Source: Ora Banda Mining ASX announcements, “DRIVE to 300 aspiration and Key Project Approvals” and “Waihi and Round Dam Mineral Resource and Ore Reserve Statement”, 18 May 2026; GR Engineering Services ASX release, 18 May 2026.

13 May 2026 | Western Australia - Tungsten Mining NL has commenced on-site preparation works at its 100%-owned Mt Mulgine Project in Western Australia, ahead of a major RC and diamond drilling program at the Mulgine Trench deposit.

The company said current site activities include drill pad preparation, surveying, drill hole mark-out, support infrastructure groundworks, site access preparation and safety work required before drilling can begin.

The planned RC drilling campaign will include 130 holes for 40,000 metres at Mulgine Trench. The program is designed to test the continuity of extensions beneath the 2020 Mineral Resource Estimate, targeting an additional 80 metres to 160 metres down-dip. Assay results are expected to be released periodically, approximately six weeks after drilling commences.

Tungsten Mining is also planning 37 PQ diamond holes for 4,700 metres to collect material for metallurgical test work and obtain geotechnical data for future pit designs.

The drilling will test the upper portions of the previously reported Exploration Target at Mulgine Trench, which is estimated at 165 to 200 million tonnes at 0.10% to 0.12% WO3 and 180 to 220 ppm molybdenum, for 165,000 to 240,000 tonnes of contained WO3 and 30,000 to 36,000 tonnes of contained molybdenum. This is in addition to the existing 2020 Indicated and Inferred MRE at Mulgine Trench.

Tungsten Mining Chairman Gary Lyons said the commencement of on-site preparations represented an important operational milestone as the company progresses toward drilling at Mulgine Trench. He said the potential exists, subject to drilling and assessment, to add to TGN’s already significant resource base and potentially position Mt Mulgine as the largest tungsten project in the world.

Why it matters: Tungsten is a critical mineral used across defence, aerospace, electronics, automotive, mining, construction and industrial applications. Tungsten Mining describes tungsten as strategically important due to its high melting point, high-temperature mechanical properties and use in cemented carbides, high-speed steels, super alloys, tungsten mill products and chemicals.

The Mt Mulgine Project is located approximately 330 kilometres north-northeast of Perth and 15 kilometres northeast of Rothsay. The project includes the Mulgine Hill and Mulgine Trench deposits, with Tungsten Mining holding title and mineral rights across the project tenements.

For Western Australia’s mining sector, the program is another sign of growing momentum around critical minerals projects, particularly those with the potential to support future supply chains outside traditional global sources.

Tungsten Mining said the Exploration Target remains conceptual in nature, with insufficient exploration completed to estimate a Mineral Resource for that target at this stage. The company will continue to update the market on drill rig mobilisation and assay results as material information becomes available.

Source: Tungsten Mining NL ASX announcement, “On-site Preparations Underway for Mt Mulgine Drilling Program”, 13 May 2026.

Western Australia - Pantoro Gold Limited has reported a significant new high-grade gold discovery at the Racetrack target, part of its 100%-owned Norseman Gold Project in Western Australia.

The discovery was made during an initial 27-hole RC and diamond drilling growth program across early-stage prospects in the Norseman Mainfield, including Racetrack, Golden Goose and southern extensions to the Crown Reef.

Early results from Racetrack have outlined a broad high-grade mineralised zone over a current strike length of approximately 400 metres, extending from near surface to around 600 metres depth. Reported high-grade intersections include 8m at 28.68 g/t gold, including 1m at 189.84 g/t gold; 5m at 28.73 g/t gold, including 2m at 68.05 g/t gold; and 2.01m at 82.99 g/t gold, including 1m at 165 g/t gold.

The Racetrack target is located near Pantoro’s OK Mine at Norseman, an area already known for high-grade underground gold mineralisation. Pantoro has previously reported strong results from ongoing drilling at OK, where the company has been targeting extensions to the Star of Erin and O2 lodes as part of its broader growth program.

Why it matters: The result is important because Racetrack may represent a new high-grade ore source close to existing Norseman infrastructure. For a producing gold operation, discoveries near established mines can be particularly valuable because they may offer a shorter pathway from exploration success to future mine planning, subject to further drilling, approvals and economic assessment.

The result also supports Pantoro’s broader strategy of unlocking additional value across the historic Norseman Gold Project. Norseman sits on the southern end of the highly prospective Norseman-Wiluna greenstone belt and has a long gold mining history. Pantoro describes the project as a major high-grade goldfield with substantial growth potential.

Pantoro’s latest results come at a time when Western Australian gold producers are continuing to focus on brownfields exploration, mine life extension and high-grade underground opportunities. With gold prices remaining supportive, discoveries close to existing processing and mining infrastructure are likely to remain a key focus across the sector.

Further drilling will be important to determine the scale, continuity and potential mining implications of the Racetrack discovery.

Source: Pantoro Gold ASX announcement / market release, “Significant High-Grade Discovery at Racetrack”

6 May 2026 | Western Australia - Caprice Resources Limited (ASX: CRS) has reported an exceptional high-grade gold intercept from its Island Gold Project in Western Australia’s Murchison region, with new drilling defining a potential parallel lode west of the main Vadrians deposit.

The standout result came from reverse circulation hole 26IGRC010, which intersected 22m at 66.2 g/t gold, including 8m at 181 g/t gold from just 42m downhole.

Caprice said the result is the highest-grade intercept returned to date at the Island Gold Project and was intersected approximately 120m west of Vadrians, in a parallel hanging-wall position.

The company said the mineralisation occurs beneath a near-surface weathered depletion zone and may represent a different style of mineralisation to the main BIF-hosted Vadrians lode.

Other significant results from the latest drilling included:

• 9m at 2.8 g/t gold, including 5m at 4.5 g/t gold from 186m in 26IGRC010
• 5m at 3.4 g/t gold, including 3m at 5.2 g/t gold from 147m in 26IGRC009
• 7m at 2.3 g/t gold, including 5m at 3.1 g/t gold from 261m in 26IGRC016

Caprice Managing Director Luke Cox said the result was exceptional, particularly due to the grade, thickness, shallow depth and proximity to Vadrians.

He said the new discovery reinforced the company’s view that Island is developing into a multi-lode system with significant scale potential.

Caprice is currently undertaking a 50,000m air core, RC and diamond drilling program across the Island Gold Project, Comet and Cuddingwarra projects. The program is aimed at expanding known mineralisation, testing new targets and supporting the delivery of a maiden Mineral Resource Estimate.

Immediate follow-up drilling of the high-grade zone is being planned, with drilling expected to recommence in the area next week. Assays are also pending from deeper diamond holes testing the southern high-grade zone at Vadrians.

Why it matters: The result is significant because it suggests high-grade gold mineralisation at Island may not be limited to the main Vadrians lode. A shallow, high-grade intercept in a parallel structure could increase the scale potential of the project and strengthen Caprice’s pathway toward a maiden resource.

The Island Gold Project remains a key focus for Caprice’s Murchison gold strategy, with ongoing drilling expected to further test strike, depth and parallel-lode potential across the broader Island corridor.

Source: Caprice Resources ASX announcement, 6 May 2026; SmallCaps coverage

5 May 2026 | Perth, WA - Regis Resources Limited (ASX:RRL) and Vault Minerals Limited (ASX:VAU) have announced plans to merge, creating what the companies describe as Australia’s next major gold producer.

The proposed merger will be completed through a Vault scheme of arrangement, with Regis to acquire 100% of Vault’s fully paid ordinary shares. Under the proposed transaction, Vault shareholders will receive 0.6947 new Regis shares for each Vault share held.

If implemented, Regis shareholders are expected to own approximately 51% of the combined company, with Vault shareholders holding approximately 49%.

The merged group is expected to produce more than 700,000 ounces of gold per annum from a diversified portfolio of operating assets, including five high-quality operating hubs across Western Australia. The companies also reported a combined mineral endowment of 6.0 million ounces in Ore Reserves and 20.5 million ounces in Mineral Resources.

The transaction would create a larger, debt-free gold business with a pro forma market capitalisation of approximately A$10.7 billion, along with around A$1.9 billion in pro forma cash and bullion and no drawn debt.

Why it matters: The merger further highlights the strength of the Australian gold sector, particularly in Western Australia, where established producers are seeking scale, operational flexibility and stronger balance sheets. A larger combined group may also support future investment in mine life extensions, processing capacity, exploration and development projects.

The companies said the combined business would benefit from increased scale, a stronger balance sheet, greater market relevance and potential cost efficiencies. The enlarged group will also hold significant processing infrastructure, with approximately 22.3Mtpa of milling capacity across nine mills, increasing to approximately 24.3Mtpa following the expected King of the Hills mill expansion.

Regis Managing Director and CEO Jim Beyer said the merger would create Australia’s third largest primary ASX-listed gold producer, with production expected to exceed 700,000 ounces annually.

Vault Managing Director and CEO Luke Tonkin said the transaction would give Vault shareholders exposure to a larger and more resilient gold company, while retaining meaningful ownership in the merged group.

If the scheme proceeds, the combined company will be led by Jim Beyer as Managing Director and Chief Executive Officer, with Russell Clark to become Non-Executive Chairman. The board will comprise eight directors, with four appointed from each of the current Regis and Vault boards.

The scheme remains subject to Vault shareholder approval, Court approval, regulatory approvals, an independent expert concluding that the scheme is in the best interests of Vault shareholders, and other customary conditions.

An indicative timetable has the scheme booklet being dispatched to Vault shareholders in July or August 2026, with the scheme meeting and implementation targeted for August or September 2026.

Source: Regis Resources and Vault Minerals ASX announcement, 5 May 2026.

13 February 2026 | Subiaco, WA – Mamba Exploration (ASX: M24) has executed an Exploration & Prospecting Agreement with the Yugunga-Nya Native Title Aboriginal Corporation (RNTBC), establishing clear processes for heritage surveys, Aboriginal Site protection and ongoing cultural engagement across the Meeka East Gold Project area. The agreement provides a cooperative framework covering all 39 tenements within Meeka East, setting out communications protocols, cultural heritage management and site-protection measures to ensure activities are conducted in line with the Aboriginal Heritage Act and the Native Title Act. It was entered into with the authority of the registered tenement holders for the project.

Why it matters: The agreement supports Mamba’s planned exploration linked to its conditional acquisition of a 70% interest in Meeka East, streamlining approvals and survey pathways and enhancing long-term cooperation within the Yugunga-Nya Determination Area.

Management comment: Executive Director Matt Freedman said the agreement “establishes the foundations for a respectful and collaborative working relationship and ensures that future exploration is carried out in a culturally appropriate and responsible manner,” adding that Mamba looks forward to building a long-term partnership with the Yugunga-Nya People as programs progress.

Next steps:
• Meeka East – additional soil sampling along the Mulga Bill trend extension (potential >6km strike) and infill sampling at the northern project area; Bella Prospect sampling over priority areas.
• Ashburton Project – field reconnaissance over ~580km² across E08/2913 and E08/3343, ~190km south of Onslow and ~220km north-east of Carnarvon (WA).

Evolution Mining has delivered a record FY26 half-year result (to 31 December 2025), supported by strong operational performance and metal prices. The company reported A$785 million underlying profit after tax, A$1.6 billion underlying EBITDA and A$608 million Group cash flow, with production of 365koz gold and 36kt copper.

Evolution also declared a fully franked interim dividend of 20 cents per share (record date 4 March 2026, payment 2 April 2026). The balance sheet continued to strengthen, with A$967 million cash, gearing of 6%, and all bank term loans repaid during the half year.

On the growth front, Evolution approved and progressed several key initiatives, including:

• Northparkes: approval of the E22 block cave and Coarse Particle Flotation project

• Ernest Henry: approval of the Bert deposit

• Canada: expanded exploration footprint with Two Times Fred and an option over Clisbako

FY26 group guidance was reaffirmed at 710–780koz gold, 70–80kt copper and AISC of A$1,640–A$1,760/oz.

Comments from management
Management commentary: Evolution said the result reflects strong operational delivery and disciplined capital allocation, while continuing to invest in high-return growth projects to support long-term value and shareholder returns.