News

25 June 2026 | Western Australia - BOA Resources has announced a transformational copper transaction that will see the company acquire the Thaduna and Green Dragon copper deposits in Western Australia’s Murchison region.

BOA has entered into an agreement to acquire 100% of Core Value Australia NL, which has separately agreed to acquire the Thaduna and Green Dragon deposits from Sandfire Resources.

On completion, BOA will own the Thaduna and Green Dragon deposits, consolidate its ownership of the Neds Creek Copper Project and expand its copper exploration footprint in the Murchison Copper Belt.

The Thaduna and Green Dragon deposits host a combined JORC 2012 Mineral Resource Estimate of 5.3Mt at 2.3% copper for 121,000 tonnes of contained copper.

Thaduna accounts for the majority of the Resource, with 4.1Mt at 2.5% copper for 103,000 tonnes of contained copper. Green Dragon contains 1.2Mt at 1.5% copper for 18,000 tonnes of contained copper.

BOA said the acquisition will expand its Murchison Copper Belt footprint to approximately 1,378.6km², including the Thaduna and Green Dragon Mining Leases, granted exploration licences, granted prospecting licences and exploration licence applications.

Chair and Managing Director Cath Norman described the transaction as transformational for BOA, saying it moves the company from holding an interest in a prospective copper exploration package to controlling a broader regional copper portfolio with granted mining leases, drill-ready targets and substantial exploration upside.

Why it matters: The acquisition gives BOA a larger and more advanced copper platform in Western Australia at a time when copper demand remains strongly supported by electrification, grid investment, electric vehicles, renewable energy and battery storage.

The Thaduna and Green Dragon deposits are located on granted Mining Leases, which BOA described as a key strategic advantage and potential foundation for future resource development.

The transaction also brings Sandfire Resources onto BOA’s register as a substantial shareholder. Subject to completion, BOA will issue Sandfire 27.8 million shares, giving Sandfire an approximate 6.2% post-transaction shareholding.

CVA principal and experienced geologist Adrian Griffin is also expected to join the BOA board as a Non-Executive Director on completion of the transaction. Griffin has more than 40 years of mining industry experience across exploration, development, financing and project delivery.

BOA said the acquisition creates a stronger regional exploration position across the Neds Creek copper corridor. The company has identified multiple drill-ready copper targets, with historical drilling at several prospects returning ore-grade copper intersections.

Ricci Lee remains BOA’s first priority for resource definition drilling. The prospect is located close to Thaduna, sits in a similar geological setting and has already returned multiple ore-grade copper intercepts from historical drilling.

BOA said it remains funded to progress the transaction and its planned exploration activities, with a cash position of approximately $3.2 million supporting the acquisition and 2026 drilling plans.

Drilling is targeted to commence in late July 2026, initially focused on Ricci Lee, Rooneys and other high-priority Neds Creek prospects.

The company’s immediate next steps include completing remaining approvals, convening a shareholder meeting, completing the CVA and Sandfire acquisition arrangements, undertaking heritage surveys, integrating the Thaduna and Green Dragon datasets and developing a broader exploration and resource growth plan across the expanded copper portfolio.

For Western Australia’s resources sector, the transaction highlights renewed interest in copper projects with existing Resources, granted tenure and regional exploration upside.

Source: BOA Resources ASX announcement, “BOA to acquire Thaduna and Green Dragon copper deposits, in Neds Creek (WA) project consolidation”, 25 June 2026; BOA Resources investor presentation, “Transformational acquisition of Thaduna and Green Dragon Copper Deposits, WA”, June 2026.

24 June 2026 | Western Australia - Rumble Resources has upgraded the Gold Mineral Resource Estimate at its Western Queen Gold and Tungsten Project in Western Australia, following a successful diamond drilling campaign.

The Western Queen Gold Resource has increased to 5.13Mt at 2.6 g/t gold for 433,600 ounces, representing a 17% increase in total contained gold.

Importantly, Indicated Resources have increased by 54% to 2.46Mt at 2.9 g/t gold for 227,700 ounces, adding 79,700 ounces compared with the July 2025 Resource.

Rumble also reported the discovery of a new high-grade zone at Western Queen Central, containing 145,000 tonnes at 11.3 g/t gold for 52,500 ounces. The zone is located directly below the historical underground workings and beneath the Western Queen Central open pit.

The upgraded Resource is based on 17,255m of diamond drilling completed between October 2025 and April 2026. Rumble said the drilling focused on upgrading previous Inferred Resources to the Indicated category at Western Queen South and Western Queen Central, as well as testing high-grade down-plunge extensions of the main mineralised zones.

Managing Director and CEO Peter Harold said the Resource upgrade was extremely positive, with the geological team delivering a major increase in Indicated Resources and identifying a new high-grade discovery below the old workings at Western Queen Central.

Why it matters: The increase in Indicated Resources is significant because it provides greater confidence for future mine planning and feasibility work. Rumble said the upgraded Resource will now be incorporated into an updated mining schedule for the Bankable Feasibility Study, which remains on track for delivery during the September quarter.

The company said the new high-grade zone at Western Queen Central measures approximately 250m by 100m and represents a high-priority target for future development. Updated modelling indicates that barren pegmatites displace less of the high-grade mineralisation than previously interpreted.

Rumble said the Resource upgrade, new high-grade discovery and ongoing tungsten optimisation work are expected to support a significant increase in mine life compared with the two-year case outlined in the November 2025 Scoping Study.

The company has also executed an ore tolling and blending agreement with Gylden Resources, with the immediate priority now being to secure the necessary permits to allow pit dewatering ahead of the start of mining operations.

Mine development remains on track for production to commence in 2027.

The Western Queen deposits are located on granted mining leases M59/208 and M59/45. The project is part of the Warda Warra Greenstone Belt in the Murchison region and hosts both gold and tungsten mineralisation.

Rumble also reported further gold drilling results from Western Queen South, including 13m at 4.90 g/t gold from 314m, including 7m at 7.40 g/t gold, and 19m at 2.11 g/t gold from 331m, including 2m at 6.54 g/t gold.

While most recent holes were not targeting tungsten, drilling again intersected high-grade scheelite mineralisation, including 10m at 0.35% WO3 from 348m and 0.85m at 1.09% WO3 from 405m. Rumble said an updated tungsten Mineral Resource Estimate is expected in July.

For Western Australia’s gold sector, the Western Queen upgrade adds another near-term development story in the Murchison, with higher-confidence ounces, a new high-grade zone and a Bankable Feasibility Study due in the coming months.

Source: Rumble Resources ASX announcement, “Western Queen Gold Resources upgraded to 433koz with 228koz now in Indicated category and a new high-grade zone of 53koz @ 11.3g/t gold”, 24 June 2026.

23 June 2026 | Western Australia - Leeuwin Metals has reported multiple significant historical gold intercepts from regional prospects at its Marda Gold Project in Western Australia, highlighting further growth potential outside the project’s current Mineral Resource.

The company said regional targeting has identified high-priority areas at the Red Boomerang and Deception Hill prospects, with both areas located outside the existing Marda Mineral Resource.

Significant historical intercepts reported by Leeuwin include:

• 24m at 1.79 g/t gold from surface, including 15m at 2.72 g/t gold from 8m
• 2m at 12.82 g/t gold from 25m
• 12m at 4.33 g/t gold from 64m, including 1m at 26.4 g/t gold from 67m
• 17m at 1.21 g/t gold from 20m, including 1m at 9.34 g/t gold from 34m
• 66m at 1.12 g/t gold from 13m, including 18m at 2.32 g/t gold from 16m
• 10m at 2.41 g/t gold from 50m, including 1m at 15g/t gold from 51m
• 21m at 1.46 g/t gold from 26m, including 1m at 10.4g/t gold from 36m

Leeuwin said the historical results reinforce the exploration potential across Marda and support its plan to systematically review the broader project database, define new targets and pursue further discoveries.

The Marda Gold Project currently hosts a Mineral Resource of 342,300 ounces of gold, comprising an Indicated Resource of 2.1Mt at 1.10 g/t gold for 73,800 ounces and an Inferred Resource of 8.1Mt at 1.03 g/t gold for 268,500 ounces.

Executive Chairman Christopher Piggott said Marda continued to generate exciting targets, with the Red Boomerang and Deception Hill results identifying high-priority drill targets that could add meaningful ounces to the existing resource base.

Why it matters: The results are important because they sit outside the current Marda Resource, meaning they may provide a pathway for future resource growth if follow-up drilling is successful. Leeuwin is now looking beyond the existing granted mining leases and testing the broader regional potential of the project.

Historical drilling at Red Boomerang and Deception Hill tested primary gold mineralisation associated with quartz-pyrite veins hosted in porphyry. Leeuwin said three moderately west-dipping lodes have been tested, with gold mineralisation interpreted to occur mainly within felsic rocks, particularly near contacts with ultramafic units.

Drill planning and permitting are now underway, with drilling planned for the second half of 2026 at Red Boomerang.

Leeuwin also has 55 drill holes from recent drilling still awaiting assays, with results expected in coming weeks. The company said recent drilling tested new down-dip extensions across Golden Orb, Marda Central and high-grade workings trends.

A resource upgrade is also underway across Golden Orb, Evanston and Marda Central, with updated resources expected in the second half of 2026.

For Western Australia’s gold sector, Leeuwin’s update adds another active resource growth story in the Marda region, with the company combining historical drill data, new drilling and regional targeting to build a larger exploration pipeline.

Source: Leeuwin Metals ASX announcement, “Targeting Identifies Significant Gold Intercepts Across Marda Regional Prospects”, 23 June 2026.

24 June 2026 | Western Australia - Rox Resources has reported strong progress at its 100%-owned Youanmi Gold Mine in Western Australia, with mining, infrastructure and processing plant development all advancing as the company moves toward first gold production.

The company said it has continued to de-risk Youanmi across several major workstreams, including underground mining, decline rehabilitation, processing plant construction, infrastructure, exploration and project funding.

Rox has commenced rehabilitation works at the historic Youanmi Decline, following the successful completion of dewatering at the Main Pit. The decline was previously mined to a depth of approximately 630m below surface and is being stripped to accommodate modern mining equipment.

The company said re-establishing the decline provides a faster and lower-cost pathway to access high-grade ore compared with developing a new decline.

Access to the planned Pollard Portal is also advancing, with Pollard expected to become the third ore source for the operation. Together with ongoing mining at United North, Rox said the multiple mining fronts will provide greater operational flexibility and reduce execution risk as the project moves closer to production.

At United North, development has continued to perform ahead of the rates outlined in the Definitive Feasibility Study. Rox reported a new monthly development record of 343m in May using only one development jumbo on site.

Ore drive development is now underway, with high-grade ROM stockpiles being built. Rox said mineralisation is in line with the DFS Mineral Resource Estimate geological model, with most ore drive assays still pending.

Why it matters: Youanmi is one of Western Australia’s emerging high-grade gold development projects. Rox is moving from development planning into physical execution, with underground mining underway, multiple future ore sources being prepared and processing plant construction progressing.

The company has also executed an EPC contract with Interquip for construction of the processing plant. Interquip has started mobilising to site, while bulk earthworks for the mill are nearing completion and civil construction is expected to begin shortly.

Rox said the EPC contract locks in fixed-cost pricing for the plant and associated works, providing greater cost certainty and helping keep pre-production expenditure aligned with DFS estimates.

Underground diamond drilling is also ramping up at United North, with the first underground diamond drill and crew mobilising to site. Rox said the initial focus is to ensure the mine is sufficiently infill drilled to maintain confidence 12 months ahead of mining by mid-2027.

Growth drilling from both underground and surface positions is planned to intensify in the second half of the year, with the aim of increasing resources and extending reserves beyond the current mine plan.

Rox’s broader pathway to production remains on track. The company has completed equity funding, secured a $350 million debt financing package, received key approvals for the processing plant, tailings and associated infrastructure, and approved the Final Investment Decision.

Managing Director and CEO Phill Wilding said the company had evolved over the past 12 months from an explorer with a production story into a fully funded developer actively building a gold mine.

He said every major workstream was steadily advancing toward the objective of first gold by mid-2027.

For Western Australia’s gold sector, Rox’s progress at Youanmi adds another near-term high-grade development story, supported by a strong gold price environment, underground mining momentum and increasing construction activity on site.

Source: Rox Resources ASX announcement, “Mining Gold and Building the Mill”, 10 June 2026; Rox Resources MD & CEO Shareholder Update, 24 June 2026.

16 June 2026 | Western Australia - Redcastle Resources has executed its Earn-In and Joint Venture Agreement for the Strategic Kilkenny Belt Package, expanding its Eastern Goldfields exploration portfolio.

The agreement secures Redcastle’s pathway to earn a 60% interest in the Kilkenny Belt Package. The transaction covers 15 tenement interests across approximately 6,419 hectares of non-overlapping tenure and application area, including around 4,450 hectares of live or granted tenure and 1,969 hectares of pending applications.

The transaction terms include A$59,000 cash, the issue of 500,000 Redcastle shares and A$1.25 million in exploration expenditure over a two-year earn-in period. Redcastle said the structure is capital-light, with most of the consideration directed toward exploration rather than upfront cash payments.

The Kilkenny Belt Package extends Redcastle’s Eastern Goldfields footprint westward beyond the TBone Belt toward the broader Murrin Murrin-Eulaminna district. The company said the package secures a substantial position within a prospective north-northeast trending structural corridor in the Murrin Domain-Minerie Sequence.

Why it matters: The acquisition gives Redcastle a larger and more contiguous exploration position in the Eastern Goldfields at a time when the company says it is transitioning from explorer to active gold producer through mining operations at Redcastle Reef.

Redcastle Chairman Dr Ray Shaw said the transaction complements the company’s existing Redcastle Project Area and TBone Belt holdings, while supporting its broader regional consolidation strategy. He said mining at Redcastle Reef is expected to help support future exploration, resource growth and development opportunities with reduced reliance on external capital.

Initial work at Kilkenny will focus on compiling and validating historical exploration datasets, integrating geological, geophysical and tenure information into Redcastle’s regional database, ranking priority targets and planning future exploration programs.

The company said early field work is planned for the second half of 2026, with an initial drilling campaign planned for the first half of 2027. Redcastle expects the drilling to be self-funded from cashflow generated by mining operations at Redcastle Reef.

For Western Australia’s gold sector, the transaction highlights continued consolidation of historically fragmented tenement positions in the Eastern Goldfields, where smaller producers and explorers are looking to build larger regional platforms around existing mining centres.

Source: Redcastle Resources ASX announcement, “Redcastle Executes Strategic Kilkenny Belt Acquisition”, 16 June 2026.

15 June 2026 | Western Australia - Minerals 260 has commenced early construction and development activities at its 100%-owned Bullabulling Gold Project, located around 25km west of Coolgardie in Western Australia.

The start of early works marks a significant step toward the company’s target of beginning plant construction in the first half of CY2027 and achieving first gold production in the fourth quarter of CY2028.

Minerals 260 said work is now advancing across several areas, including accommodation village construction, water infrastructure and grade control drilling. The company received approval in May 2026 for its Mining Development and Closure Proposal and Works Approval for construction of a 400-person accommodation village.

In April, Minerals 260 awarded ATCO Structures & Logistics a $59.1 million fixed-price contract for the design and construction of the initial 400-person village. Site preparation and bulk earthworks are now underway, with the rooms and facilities being manufactured at ATCO’s Perth facility. The village is expected to be fully operational in the March quarter of 2027.

The company has also commenced drilling and installation of water bores to support construction and future operations. Water exploration has identified several potential sources, including palaeochannel and fractured rock systems.

Why it matters: Bullabulling is one of the larger gold development projects in Western Australia’s Eastern Goldfields, with a reported JORC 2012 Mineral Resource Estimate of 130Mt at 1.0g/t gold for 4.5Moz. The project is located on granted mining leases and sits within a broader tenement package of approximately 1,160km².

A grade control program has also commenced at the Phoenix deposit, involving 26,000m of 10m by 10m reverse circulation drilling. The drilling is focused on two high-priority areas expected to contribute to early years of production. Minerals 260 said it intends to use Photon Assay as the primary analytical method and is assessing the potential for an on-site Photon Assay facility.

The company said its maiden Ore Reserve and Pre-Feasibility Study remain on track for release in July 2026, with an updated Mineral Resource Estimate scheduled for August 2026.

Managing Director Luke McFadyen said the company was uniquely positioned to begin early construction before completion of the PFS, supported by preparatory work from the project team and a strategic funding agreement with Franco-Nevada. He described the start of early construction as another important de-risking milestone.

Minerals 260 said it remains well funded, with around $250 million in cash and deposits at the end of the March 2026 quarter.

For Western Australia’s mining sector, Bullabulling’s move into early construction points to a growing pipeline of gold development work, including accommodation, civil works, water infrastructure, drilling, approvals, future plant construction and operational readiness.

Source: Minerals 260 ASX announcement, “Early Construction and Development Activities Commence at Bullabulling”, 15 June 2026.

16 June 2026 | Western Australia - Bellevue Gold has reported consistent operational performance at its Bellevue Gold Mine, with the company saying it is on track to meet FY26 production and cost guidance.

Bellevue said April and May 2026 production totalled 28,100 ounces of gold at an estimated head grade of 4.6 g/t gold. Production for the 11 months to 31 May 2026 was approximately 130,000 ounces, compared with FY26 guidance of 130,000 to 150,000 ounces.

The company said this performance positions it to beat the midpoint of FY26 annual production guidance and meet all-in sustaining cost guidance of A$2,600 to A$2,900 per ounce. Bellevue said the result reflects its target of consistently producing around 40,000 ounces per quarter, now that all five key mining areas — Deacon, Deacon North, Marceline, Viago and Tribune — are established.

Bellevue also said its mining contractor transition remains on track, with the handover from Develop to Barminco scheduled for 1 August 2026. The company said transition planning has covered workforce, equipment, systems, operational readiness and production stability.

Why it matters: Bellevue’s update points to a maturing underground gold operation that is moving from ramp-up into more consistent production. Meeting production and cost guidance would be an important milestone for the company, particularly while also managing a contractor transition and continuing growth capital works.

The company also reported encouraging early results from underground extensional drilling at Tribune South, where three holes intersected visible gold mineralisation. Assay results received to date include:

• 3.50m at 44.96 g/t gold
• 1.71m at 7.80 g/t gold
• 7.00m at 4.00 g/t gold
• 1.61m at 3.20 g/t gold

Bellevue said the Tribune South drilling is targeting southern extensions of the Tribune line of lode and is designed to define a potential new independent mining area. The company said the underground infrastructure from the Tribune Box Cut is designed to support additional tonnage if further discoveries are made to the south.

A sixth underground diamond drill rig is expected to arrive on site in coming weeks to support increased underground exploration drilling in FY27. Surface drilling is also continuing, with downhole electromagnetic surveying underway to help target sulphide-rich zones that host higher-grade mineralisation.

Bellevue said construction of its paste plant has commenced and remains on schedule for commissioning in the March 2027 quarter. GR Engineering is on site, with initial foundations and the base of a 2,000m³ tailings holding tank now in place.

The company also continues to reduce its hedge book, holding 17,800 ounces of gold at the end of May 2026 reserved for voluntary pre-delivery into forward sale commitments by the end of the June quarter. Bellevue is targeting a reduction in its hedge book to 65,000 to 70,000 ounces by quarter-end, down from 91,700 ounces at 31 March 2026.

Managing Director Darren Stralow said Bellevue’s FY26 progress was in line with the company’s goals of delivering against guidance, de-risking through hedge book pre-delivery and unlocking exploration opportunities at the mine.

For Western Australia’s gold sector, Bellevue’s update highlights continued strength from established high-grade underground operations, with near-mine drilling, infrastructure investment and production consistency all supporting future growth.

Source: Bellevue Gold ASX announcement, “Consistent performance puts Bellevue on track to meet FY26 production and cost guidance”, 16 June 2026.

15 June 2026 | Western Australia - Ora Banda Mining has signed a major engineering, procurement and construction contract with GR Engineering Services for the next stage of its Davyhurst Mill Expansion Project.

The contract covers construction of a new 3.0Mtpa processing plant at Davyhurst and has a contract value of $233 million. GR Engineering had previously been appointed as preferred contractor for the project, as announced by Ora Banda on 18 May 2026.

Ora Banda said the project is progressing well, with earthworks commencing in late May. The company said its team is now focused on advancing delivery of the new processing facility.

The announcement included a drone image showing earthworks underway for the new 3.0Mtpa processing facility at Davyhurst.

Why it matters: The signing of the EPC contract is an important step in Ora Banda’s broader Davyhurst growth strategy. A new 3.0Mtpa plant would materially increase processing capacity at Davyhurst and support the company’s plans to build a larger, more flexible gold operation in Western Australia.

The contract also confirms that the expansion has moved beyond planning and contractor selection into delivery, with site earthworks already underway.

For contractors, suppliers and mining professionals, the project points to ongoing activity across Davyhurst, including construction, processing infrastructure, site works and future operational growth.

The Davyhurst Mill Expansion follows Ora Banda’s May announcement outlining its “DRIVE to 300” growth aspiration and key project approvals, including the new processing plant and further mine development plans.

Source: Ora Banda Mining ASX announcement, “Davyhurst Mill Expansion – EPC contract signed”, 15 June 2026.

8 May 2026 | Western Australia - Mamba Exploration has reported new soil sampling results from its Meeka East Gold Project in Western Australia’s Murchison region, identifying multiple gold targets across more than 20km of prospective strike.

The company said extensional soil sampling has extended the gold occurrence south of the historical sample area at the 140’ Well prospect, while infill results have helped define an initial drilling target. The identified mineralised trend at 140’ Well is interpreted as a southern extension of Great Boulder Resources’ Mulga Bill trend into Mamba’s Meeka East Gold Project.

Mamba said the soil sampling program confirmed its “Gold in Sediments” geological concept, with anomalous gold assays located in stratigraphic trends on either side of cross-cutting dolerites in several locations. The work also identified three additional major stratigraphic anomalies: New Australian, Lady Maud and Bella.

The company completed more than 1,300 fine soil samples across nearly 25km² of prospective ground. Sampling was designed to test prospective stratigraphy and structures across the project, excluding the Mt Yagahong site.

Mamba Executive Director Matt Freedman said the results continued to support the company’s geological model and that the Lady Maud area was particularly encouraging, with consistent elevated gold-in-soil values across multiple sections. He said the results had created new priority drill targets further south and extended the project’s potential overall strike length to about 20km.

Why it matters: Soil sampling is an early-stage exploration tool, but these results are important because they appear to define coherent gold trends rather than isolated spot values. Mamba said the anomalous results form tight clusters, with the most significant results at Lady Maud tracing across multiple sections and defining a clear trend consistent with two or more target stratigraphic units.

The strongest soil values reported included 22.8ppb gold at Lady Maud, 14.1ppb gold and 12.3ppb gold at New Australian, and 11ppb gold at Bella. The company used a 2 standard deviation anomalous cut-off of 2.5ppb gold.

Mamba has also been awarded up to $90,000 through the Western Australian Government’s Exploration Incentive Scheme to support a planned $180,000 drilling program. The company said the process for heritage approvals and Programme of Work lodgement is now underway, with drilling to commence as soon as practicable once approvals are received.

The initial drilling focus is expected to be the northern 140’ Well area, with approximately 15 reverse circulation holes for 1,800m planned along the initial trend. Mamba is also submitting a Programme of Work for an expanded program of up to 50 holes to test broader anomalies across Meeka East, including Lady Maud, New Australian and Bella.

For Western Australia’s gold exploration sector, the results add another early-stage target in the Murchison, with Mamba now moving from geochemical targeting toward first-pass drilling.

Source: Mamba Exploration ASX announcement, “Soil Sampling Identifies Over 20km of Strike”, 8 May 2026.

5 June 2026 | Queensland - Hammer Metals has announced that South32 has elected to proceed with Stage 3 of the Isa Valley Earn-In Agreement, committing to a further A$3 million in exploration expenditure over three years.

The Isa Valley Project is located in north-west Queensland and covers sections of the Mount Isa Fault. Hammer said South32’s decision to move into Stage 3 follows positive results from the initial stages of the earn-in program.

Under the Stage 3 terms, South32 must fund A$3 million of exploration expenditure to earn a 70% interest in the tenement and joint venture. South32 may extend the Stage 3 period by a further 12 months, increasing the expenditure commitment to A$4 million.

Hammer also said a magnetotelluric survey across the Mount Isa Fault is expected to commence in the coming months. Funding for the survey has been provided by the Queensland Government through the Collaborative Exploration Initiative.

Managing Director Daniel Thomas said Hammer was pleased to see South32 continue into Stage 3, saying the decision reflected the encouraging technical results generated so far and the prospectivity across the project.

Why it matters: The Isa Valley earn-in gives Hammer exposure to continued exploration funding from a major mining company in one of Australia’s most important base metals districts. The project is considered prospective for Mount Isa-style sediment-hosted lead-zinc-copper mineralisation, similar in style to major deposits in the region.

Hammer said the Isa Valley Project covers approximately 320km² and is being managed and operated by South32 under the earn-in agreement. If South32 completes Stage 3, it will earn 70%, with the ability to move to 80% by sole funding a Pre-Feasibility Study for a mine development on the tenement area.

Hammer also advised that Sumitomo Metal Mining Oceania has informed the company of its intention to withdraw from the Bullrush Joint Venture. The Bullrush JV recently completed two phases of diamond drilling across deeper iron oxide copper-gold targets within the Wimberu Granite.

Thomas thanked Sumitomo for its contribution to Bullrush, saying the work had helped improve Hammer’s understanding of the system and that the company would continue to build on that work as it assessed the geological setting and nearby targets.

Hammer’s near-term newsflow includes drilling results from Kalman, Blackrock and Lady Jenny, the Isa Valley magnetotelluric survey, Kalman West diamond drilling, a Kalman Resource update, drilling at Orphan, Keyser and Redback, and air-core drilling at the Yandal Gold Project.

For the broader resources sector, South32’s continued participation highlights ongoing interest in the Mount Isa district, where large-scale copper, lead, zinc and silver systems remain a key exploration focus.

Source: Hammer Metals ASX announcement, “Mount Isa JV and Earn-In Updates”, 5 June 2026.