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FORRESTANIA RESOURCES LIMITED M&A Activity 2026
64945_rns_2026-05-11_b8c8e21b-e421-44e0-8338-2a04d39ee256.pdf
M&A Activity
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FORRESTANIA RESOURCES
Forrestania Resources Ltd
Suite 1, 295 Rokeby Road
Subiaco WA 6008
Phone +61 8 6555 2950 [email protected] ACN 647 899 698
ASX: FRS
forrestaniaresources.com.au
12 May 2026
ASX RELEASE
Forrestania Completes Hyden Gold Project Acquisition
Highlights:
- Forrestania Resources has completed the option to acquire 100% of Hyden Project Holdings Pty Ltd (“HPH”), as announced on 11 August 2025
- Option includes the granted gold tenure M77/1310, E77/2207, E77/2219, E77/2220, E77/2239, E77/2460, E77/2711 and P77/4534
- The Hyden Gold Project hosts a JORC Compliant Mineral Resource of 6,950,000 tonnes at 1.33g/t Au for 297,500 oz Au including:
- Lady Magdalene Project JORC Compliant Mineral Resource of 5,600,000t @ 1.32 g/t Au for 237,400 oz
- Lady Ada Project JORC Compliant Mineral Resource of 1,350,000t @ 1.39 g/t Au for 60,161 oz
- Forrestania total JORC Compliant Mineral Resource comprises 23,082,000 tonnes at 1.22g/t Au for 907,000 oz Au
| JORC MRE Statement May 2026 | ||||
|---|---|---|---|---|
| Class | Cutoff Au g/t | Tonnes | Au g/t | Au Ounces |
| Measured | 0.5 | 540,000 | 0.99 | 17,500 |
| Indicated | 0.5 | 4,083,000 | 1.29 | 184,000 |
| Inferred | 0.5 | 18,459,000 | 1.35 | 705,500 |
| Total | 23,082,000 | 1.22 | 907,000 |
Forrestania Resources' Chairman David Geraghty commented:
"Completion of the Hyden Project acquisition further consolidates Forrestania's position within the Forrestania hub, adding a significant Mineral Resource base in close proximity to the Company's Lake Johnston processing facility.
This acquisition represents an important step in the Company's evolution, securing a project with an established Mineral Resource and clear exploration upside. It positions Forrestania to continue advancing its portfolio of Western Australian gold assets as the Company progresses development activities and advances toward future production through the Lake Johnston processing facility."
Forrestania Resources Limited (ASX: FRS) ("FRS" or "the Company")
Forrestania wishes to advise that it has completed the acquisition of the Lady Magdalene & Lady Ada Project, as originally announced on 11 August 2025. The acquisition of Hyden Project Holdings Pty Ltd, including the Lady Magdalene & Lady Ada Project, consolidates a portfolio of highly prospective gold tenements within the Company's Forrestania hub. The Company confirms that all conditions precedent to the Binding Heads of Agreement have been satisfied, and the acquisition is now formally complete.
About Hyden Gold Project
The Hyden Gold Project is located approximately 120km south of Southern Cross, and 17km southwest of the historic Bounty Mine site. The Hyden Gold Project deposits occur at the northern end of the Forrestania greenstone belt, which is the southern extension of the north-south trending Southern Cross greenstone belt, a 300 km long, 40 km wide supracrustal belt, bounded by Archaean granitoid/gneisses and is intruded by less deformed granite/pegmatite assemblages, and cut by east-trending Proterozoic doleritic dykes.
Figure 1. Location Map including Lady Ada & Lady Magdalene Project
Mining at the Lady Ada (Blue Haze) pit commenced in December 2002 and concluded in May 2003. A total of 95,865 tonnes at 8.81g/t Au was mined for 27,154 oz gold via open pit methods to ~60m depth. No mining has taken place at Lady Magdalene which currently exists less than 100m to the north of Lady Ada mineralisation and approximately 300m north of the Lady Ada pit. Hyden Project JORC Compliant Mineral Resource of 6,950,000 tonnes at 1.33g/t Au for 297,500 oz Au.
Mineral Resource Estimate
Based on the estimate provided by Cadre using a 0.5g/t Au cut-off grade, Hyden Project contains 6,950,000 tonnes at 1.33g/t Au for 297,500 oz Au as shown in Table 1 and Table 2.
| JORC Mineral Resource May 2026 | ||||
|---|---|---|---|---|
| Class | Au g/t Cutoff | Tonnes | Au g/t | Au Ounces |
| Indicated | 0.5 | 956,000 | 1.36 | 41,800 |
| Inferred | 0.5 | 4,644,000 | 1.31 | 195,600 |
| Total | 0.5 | 5,600,000 | 1.32 | 237,400 |
Table 1: Lady Magdalene JORC MRE May 2026
| JORC Mineral Resource May 2026 | ||||
|---|---|---|---|---|
| Class | Au g/t Cutoff | Tonnes | Au g/t | Au Ounces |
| Indicated | 0.5 | 540,000 | 1.62 | 28,100 |
| Inferred | 0.5 | 956,000 | 1.36 | 32,000 |
| Total | 0.5 | 1,350,000 | 1.32 | 60,100 |
Forrestania's global JORC Compliant Mineral Resource of 23,082,000 tonnes at 1.22g/t Au for 907,000 oz Au as shown in Table 3 and Table 4.
Table 2: Lady Ada JORC MRE May 2026
| Forrestania JORC MRE Statement May 2026 | |||||
|---|---|---|---|---|---|
| Deposit | Class | Cutoff Au g/t | Tonnes | Au g/t | Au Ounces |
| Ada Ann | Indicated | 0.5 | 117,100 | 2.60 | 9,800 |
| Ada Ann | Inferred | 0.5 | 87,400 | 2.98 | 8,300 |
| British Hill | Indicated | 0.5 | 717,000 | 1.33 | 30,700 |
| British Hill | Inferred | 0.5 | 308,000 | 2.41 | 23,900 |
| Burracoppin | Inferred | 0.5 | 2,016,000 | 0.90 | 58,700 |
| Johnson Range | Indicated | 0.5 | 325,000 | 2.95 | 30,800 |
| Johnson Range | Inferred | 0.5 | 1,104,000 | 2.05 | 72,900 |
| Karonie | Inferred | 0.5 | 6,502,000 | 0.9 | 185,700 |
| Lady Ada | Indicated | 0.5 | 540,000 | 1.62 | 28,100 |
| Lady Ada | Inferred | 0.5 | 810,000 | 1.23 | 32,000 |
| Lady Lila | Indicated | 0.5 | 646,000 | 0.88 | 18,300 |
| Lady Lila | Inferred | 0.5 | 576,000 | 1.20 | 22,200 |
| Lady Magdalene | Indicated | 0.5 | 956,000 | 1.36 | 41,800 |
| Lady Magdalene | Inferred | 0.5 | 4,644,000 | 1.31 | 195,600 |
| North IronCap | Inferred | 0.5 | 2,413,000 | 1.37 | 106,000 |
| Tyco | Measured | 0.5 | 540,000 | 0.99 | 17,000 |
| Tyco | Indicated | 0.5 | 781,000 | 0.99 | 24,800 |
Table 3: Forrestania JORC MRE May 2026
| JORC MRE Statement May 2026 | ||||
|---|---|---|---|---|
| Class | Cutoff Au g/t | Tonnes | Au g/t | Au Ounces |
| Measured | 0.5 | 540,000 | 0.99 | 17,500 |
| Indicated | 0.5 | 4,083,000 | 1.29 | 184,000 |
| Inferred | 0.5 | 18,459,000 | 1.35 | 705,500 |
| Total | 23,082,000 | 1.22 | 907,000 |
Table 4: Forrestania Global JORC MRE May 2026
Determination - Supreme Court of Western Australia
As disclosed in the ASX announcement of 7 May 2026, in the case of Classic Mineral Ltd vs Hyden Project Holdings Pty Ltd, the Supreme Court of Western Australia refused an application by Classic Minerals Limited for summary judgment against Hyden Project Holdings Pty Ltd relating to a 2024 dispute relating to the tenements.
This announcement has been authorised for release by the Board of Forrestania Resources Limited.
For further information please contact:
David Geraghty
Executive Chairman
Phone +61 8 6555 2950
Investor Relations
Lucas Robinson
Investor Relations
Phone +61(0) 408 228 889
Paul Berson
Investor Relations
Phone +61(0) 421 647 445
About Forrestania Resources Limited
Forrestania Resources Limited (ASX: FRS) is a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia's premier mining districts.
Led by a refreshed and experienced board, Forrestania is strategically expanding its footprint across the Southern Cross, Eastern Goldfields and Forrestania regions through disciplined exploration, selective acquisitions and a commitment to unlocking the broader potential of these highly prospective belts.
In the Southern Cross district, the Company is advancing a strategy to define significant gold resources that can support long-term development opportunities.
The Forrestania Project, from which the Company takes its name, lies within a world-class mineral province adjacent to the historic Bounty gold mine (~1Moz historic production) and in proximity to major mining operations, underscoring the region's exceptional prospectivity.
Further north, Forrestania's projects near Coolgardie and Menzies provide additional exposure to gold and base metals within proven mineralised corridors of the Eastern Goldfields.
Forrestania Resources is dedicated to creating shareholder value through systematic exploration, strong technical execution and a focused approach to growing its gold asset base across Western Australia.
Figure 2. Forrestania Regional Hub locations
Competent Person's Statement
The Mineral Resource estimates for the Lady Magdalene deposit referred to in this announcement are extracted from the ASX announcement made on 7 May 2026 titled "Hyden Gold Project Update", with consent provided by Mr Ben Pollard BSc. (Mineral Exploration & Mining Geology), Grad Cert (Geostatistics), a Competent Person, MAusIMM. Mr. Pollard is the Principal of Cadre Geology and Mining Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Lady Ada deposit referred to in this announcement are extracted from the ASX announcement made on 7 May 2026 titled "Hyden Gold Project Update", with consent provided by Mr Ben Pollard BSc. (Mineral Exploration & Mining Geology), Grad Cert (Geostatistics), a Competent Person, MAusIMM. Mr. Pollard is the Principal of Cadre Geology and Mining Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Burracoppin referred to in this announcement are extracted from the ASX announcement made on 1 May 2026 titled "Burracoppin Mineral Resource Estimate", with consent provided by Mr Ben Pollard BSc. (Mineral Exploration & Mining Geology), Grad Cert (Geostatistics), a Competent Person, MAusIMM. Mr. Pollard is the Principal of Cadre Geology and Mining Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Tycho deposit referred to in this announcement are extracted from the ASX announcement made on 4 May 2026 titled "Tycho Mineral Resource Estimate", with consent provided by Mr Lachlan Kenna B.Sc., a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Kenna is the Chief Consulting Geologist of Golden Strike Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Johnson Range deposit referred to in this announcement are extracted from the ASX announcement made on 25 March 2026 titled "Johnson Range Confirms MRE of 103,500 oz", with consent provided by Mr Lynn Widenbar, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Widenbar is a full time employee of Widenbar and Associates Pty Ltd. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The
Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Karonie deposit referred to in this announcement are extracted from the ASX announcement made on 4 May 2026 titled "Forrestania Completes Karonie Gold Project Acquisition", with consent provided by Mr Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Maddocks is an employee of Auranmore Consulting. Mr Maddocks has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Ada Ann deposit referred to in this announcement are extracted from the ASX announcement made on 4 May 2026 titled "Mineral Resource Estimate Upgrade at Ada Ann", with consent provided by Mr Lynn Widenbar, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Widenbar is a full-time employee of Widenbar and Associates Pty Ltd. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the Lady Lila deposit referred to in this announcement are extracted from the ASX announcement made on 11 September 2025 titled "Lady Lila Drilling Results and Upgraded MRE", with consent provided by Mr Ben Pollard BSc. (Mineral Exploration & Mining Geology), Grad Cert (Geostatistics), a Competent Person, MAusIMM. Mr. Pollard is the Principal of Cadre Geology and Mining Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the North Ironcap deposit referred to in this announcement are extracted from the ASX announcement made on 14 August 2025 titled "FRS Agrees to Acquire North Ironcap Gold Project", with consent provided by Mr Ben Pollard BSc. (Mineral Exploration & Mining Geology), Grad Cert (Geostatistics), a Competent Person, MAusIMM. Mr. Pollard is the Principal of Cadre Geology and Mining Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
The Mineral Resource estimates for the British Hill deposit referred to in this announcement are extracted from the ASX announcement made on 1 August 2025 titled "FRS Agree to Acquire British Hill Gold Project", with consent provided by Mr Ben Pollard BSc. (Mineral Exploration & Mining Geology), Grad Cert (Geostatistics), a
Competent Person, MAuslMM. Mr. Pollard is the Principal of Cadre Geology and Mining Pty Ltd, a consultant to Forrestania and has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). The Company confirms that it is not aware of any new information or data which materially affects the information included in this market announcement and that all the material assumptions and technical parameters underpinning the estimate in this announcement continue to apply and have not materially changed.
Disclosure
The information in this announcement is based on publicly available ASX announcements and available from https://www2.asx.com.au/.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements and that all material assumptions and technical parameters underpinning the relevant ASX announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are represented have not been materially modified from the original ASX announcements.
Cautionary statement regarding values & forward-looking information
The figures, valuations, forecasts, estimates, opinions and projections contained herein involve elements of subjective judgment and analysis and assumption. Forrestania Resources does not accept any liability in relation to any such matters, or to inform the Recipient of any matter arising or coming to the company's notice after the date of this document which may affect any matter referred to herein. Any opinions expressed in this material are subject to change without notice, including as a result of using different assumptions and criteria. This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "expect", and "intend" and statements than an event or result "may", "will", "should", "could", or "might" occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Forrestania Resources undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. The Recipient should not place undue reliance upon forward-looking statements. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Forrestania Resources from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Forrestania Resources, its affiliates, directors, employees and/or agents expressly disclaim any and all liability relating or resulting from the use of all or any part of this document or any of the information contained herein. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. If any geochemical sampling data is reported in this announcement, it is not intended to support a mineral resources estimation. Any drilling widths given in this announcement are down-hole widths and do not represent true widths.