News

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.

9 February 2026 | Kambalda, WA – Lunnon Metals (ASX: LM8) has signed key contracts and commenced site establishment at the Lady Herial gold project on the Foster belt at St Ives, with mining of the first benches imminent. The company confirmed agreements with Hampton Mining & Civil Services (mining) and Goldfields Technical Services (statutory positions, blast design, dig plans, mine geology, surveying and ROM management), following the Board’s Final Investment Decision on 19 January 2026.

Lady Herial will be the first new mine (gold or nickel) on the Foster belt in over 30 years and the first open pit on land at St Ives since 2014. A recent Feasibility Study outlined a plan to mine ~268,000 tonnes @ 1.89g/t Au for ~16,270oz, which, at current Australian-dollar gold prices (around A$7,000/oz), has the potential to generate ~A$45 million in pre-tax cash flow for Lunnon. The company reiterated that all material assumptions underpinning the Feasibility Study remain unchanged.

Managing Director Edmund Ainscough said, “Today’s announcement marks the culmination of months of focused effort to de-risk Lady Herial on the technical, geological and regulatory fronts. It also represents nearly two years of hard but smart work by the exploration team. On behalf of the Board, I wish to thank everyone involved for their commitment and focus in helping the Company to achieve this exciting milestone.”

Lunnon said contractors are mobilised, clearing is underway, and first ore mining is scheduled for later this month, progressing in partnership with major shareholder and ore-purchasing partner St Ives Gold Mining Co. Pty Ltd

Happy New Year from the team at Mining Employment Services.

We’re now back in the office and open from Monday, 5 January 2026, ready to hit the ground running after a strong end to 2025.

With exploration and production activity continuing to ramp up across WA and nationally, 2026 is shaping up to be a big year for career progression.

Are you looking to advance your career in 2026?

• Ready to step up into a more senior role

• Looking for better project exposure, site stability or roster

• Wanting to move from contract to permanent, or vice versa

• Open to new opportunities in exploration, geology, mining or technical services

Our team is actively working on new roles starting now, across exploration through to production, with junior, mid-tier and established operators.

📩 Get in touch today or submit your CV to be considered for current and upcoming opportunities in 2026.

Here’s to a safe, successful and rewarding year ahead.

Mining Employment Services will be closed for the Christmas and New Year break from Friday 19 December 2025 to Monday 5 January 2026

We’ll respond to any enquiries as soon as we’re back in the office on Monday 5 January 2026.

What this means for you

• Clients: If you have upcoming mobilisations or urgent role requirements, please get in touch by 12 pm on 19 December so we can prioritise what needs to be locked in.

• Candidates/contractors: If you’ve submitted a CV or are mid-onboarding, we’ll pick things up again from 5 January and work through updates as quickly as possible.

Contact
Please email us, and we’ll respond on our return: mes@miningemployment.com.au

Comments from management

Management commentary: Our team is taking a short break to recharge after a big year supporting WA mining projects. We appreciate everyone’s support and patience over the holiday period and look forward to kicking off 2026 with strong momentum.

18 November 2025 | Melbourne, VIC – Australia’s sovereign wealth fund, the Future Fund, has increased its allocation to gold and expanded its use of active equity managers, positioning the A$250bn portfolio for a more volatile backdrop marked by higher-for-longer inflation, geopolitical shocks and shifting supply chains.

Key points
• Higher gold exposure: Gold is being used as a portfolio hedge against macro shocks and policy uncertainty.
• More active management: The fund is adding specialist stock-picking mandates to exploit dispersion across regions, sectors and styles, complementing its existing passive exposures.
• Selective on bonds: Preference remains for shorter-duration and flexible fixed income over traditional long-dated, fixed-rate bonds given inflation and rate risks.
• Diversification by region and factor: The portfolio mix continues to broaden beyond the US, with a focus on developed markets where liquidity and governance support active strategies.

Why it matters
The moves reflect a view that the investment environment is becoming less forgiving for static, index-heavy portfolios. Increased gold and active risk aim to cushion drawdowns while capturing idiosyncratic alpha as correlations break down and winners/losers diverge more sharply.

Comments from management
Management commentary: Future Fund CEO Raphael Arndt has cautioned that the risk of economic shocks is rising, and that the portfolio is being positioned with more resilience (via gold and diversification) and more agility (via active managers) to deal with persistent inflation and policy uncertainty.

What to watch next
• Further detail on manager appointments and regional tilts as the active program scales.
• Any updates to real assets and private markets weightings as the fund balances inflation protection with liquidity.
• Ongoing stance on duration and credit risk within fixed income as inflation data and central-bank guidance evolve.