AI assistant
ORE RESOURCES LIMITED Share Issue/Capital Change 2026
65504_rns_2026-05-17_c376cdc1-378a-4a57-b7f5-651af52d56b0.pdf
Share Issue/Capital Change
Open in viewerOpens in your device viewer
ASX Announcement
18 May 2026
ORE RESOURCES
EXPANSION OF COOLGARDIE TENURE COMPLETED & CLEANSING STATEMENT
Ore Resources Ltd (ASX: OR3) (Ore or the Company) is pleased to advise that it has completed the acquisition of additional prospective tenure at its Coolgardie Gold and Lithium Projects, located in the Eastern Goldfields of Western Australia.
HIGHLIGHTS
- Ore has successfully completed the acquisition¹ of four (4) contiguous prospecting licenses covering an additional 6.7km² of highly prospective gold tenure to the north of Ore’s existing Coolgardie Gold and Lithium Project area.
- Ore’s total landholdings at Coolgardie now extend to over 80km².
- Tenure consists of highly prospective ground proximate to infrastructure and gold processing facilities, which include:
- Three Mile Hill Processing Plant: approx. 6km to the south-southwest
- Greenfields Mill: approx. 6.5km to the south-southwest
- Mungari Mill: approx. 8km to the north
- Burbanks Gold Processing Facility: approx. 12km to the south-southwest
- The new tenure is situated over the Kunanalling Shear Zone and includes the Avoca Prospect (Avoca), a mineralised trend approximately 300m in length located in the south of the tenure.
- Compilation and interpretation of all surficial geochemical data (with selective resampling using the Ultra Fine Fraction (UFF) method) and available geophysical datasets progressing steadily.
- Ground sampling activities are targeted for later in May 2026, including soil sampling and ground gravity geophysics, with all preparations targeted towards drilling from early Q3 2026.
- Ore is well funded and strongly positioned to advance all planned exploration programmes across its Goldfields portfolio in 2026, with a robust cash balance of A$9.6 million and zero debt (as at 31 March 2026).
Ore Resources’ Managing Director and CEO, Nick Rathjen, commented:
“We are pleased to have completed the acquisition of four contiguous prospecting licenses to the north of our existing Coolgardie project tenure, expanding our total landholdings to over 80km². These licenses add compelling new gold exploration prospectivity, most notably at the Avoca Prospect, an untested 300m-long mineralised trend where historical drill intercepts have demonstrated strong potential for shallow oxide and primary gold mineralisation.”
ORE Resources
Suite 10, 38 Colin St, West Perth WA 6005
P: +618 6382 7817
oreresources.com.au
ASX: OR3
Follow Us
X
ORE RESOURCES
"With the acquisition now finalised, we will continue to advance our proven and systematic exploration strategy at this new ground. The compilation and integration of all available geochemical and geophysical datasets is progressing well, with detailed soil sampling and ground gravity surveys scheduled to commence later in May 2026.
"Initial drilling of this new tenure remains targeted for early Q3 2026, aligned with our broader exploration programmes across the Coolgardie Gold and Lithium Projects for the remainder of 2026 and beyond."
Expansion of prospective new tenure at the Coolgardie Gold and Lithium Projects
In March 2026, Ore entered into a binding tenement sale and purchase agreement to acquire four (4) contiguous prospecting licenses covering 6.7 km² of prospective exploration tenure in the Coolgardie Goldfields, together with all associated data and rights, from Coolgardie Gold Pty Ltd (67%) and private vendor, Mr Ian Branch (33%).
Table 1: Summary details of the four prospecting licenses acquired
| Tenement ID | Area Ha | Status |
|---|---|---|
| P15/6998 | 184.5 | Granted |
| P15/6999 | 197.5 | Granted |
| P15/7000 | 176.9 | Granted |
| P15/7001 | 109.5 | Granted |
| Total Area (ha) | 668.4 | 6.7 km² |
Settlement consideration comprised A$275,000 in cash and A$275,000 in Ore shares (which involved the issuance of 3,873,239 Ore shares at an issue price of A$0.071 per share).
Ore has agreed to certain deferred milestone payment obligations in connection with this acquisition. The Company must complete a minimum of 3,000m of drilling on the tenements within 12 months of settlement. If this requirement is not satisfied, Ore will be required to pay the vendors A$200,000 in cash, with no further milestone payments applicable thereafter.
Additionally, if within three years of settlement a Competent Person estimates and reports a Mineral Resource Estimate (MRE) in accordance with the JORC Code, using a cut-off grade of not less than 0.5 g/t Au, that is in aggregate equal to or greater than 20,000 ounces of gold across one or more of the tenements, Ore will pay the vendors A$10 per ounce of contained gold within that MRE. Total payments under this milestone are capped at A$500,000.
Shareholder ratification for the issue of the consideration shares was obtained at the Company's General Meeting held on 13 May 2026.
Strategic overview
The four (4) contiguous prospecting licenses are situated along the Kunanalling Shear Zone, a structural corridor hosting mafic, ultramafic and sedimentary rock units. The new tenure is strategically located within close proximity to established infrastructure and gold processing facilities, including (Figure 1):
- Three Mile Hill Processing Plant: approx. 6km to the south-southwest
oreresources.com.au
ORE RESOURCES
- Greenfields Mill: approx. 6.5km to the south-southwest
- Mungari Mill: approx. 8km to the north
- Burbanks Gold Processing Facility: approx. 12km to the south-southwest
These licenses are fully granted with existing heritage agreements in place, providing a clear pathway for streamlined exploration activities.
Figure 1: Coolgardie Gold Projects – Location Map
oreresources.com.au
ORE RESOURCES
This region has been subject to a large body of historical exploration and gold prospecting, which is strongly evident throughout the tenure. Ore's detailed review of historical exploration data has highlighted numerous mineralised gold trends (Figure 2), including a standout, thick, high-grade intercept of 4m @ 14.04g/t from 36m within 44m @ 1.84g/t from 16m (AVRC002).
Other key significant historical intercepts include:
- 4m @ 1.49 g/t from 41m (AVR244)
- 3m @ 1.68 g/t from 30m (AVR284)
- 4m @ 1.47 g/t from 28m (AVRC007)
- 3m @ 2.13 g/t from 35m (AVR040)
- 1m @ 2.04 g/t from 16m (AVR264)
- 2m @ 1.48 g/t from 47m (AVR0703)
Most notably, Ore's review of historical drilling has identified the Avoca Prospect, a mineralised trend approximately 300m long in the south of the tenure. The Avoca trend hosts several economic-grade intercepts that remain sparsely tested. This lack of modern exploration highlights significant upside potential across the broader project area.
Figure 2: Avoca Project Plan View including historical collars and significant intercepts
oreresources.com.au
oreresources.com.au 5
RESEARCHER'S DISTRICT
OR
ORERESOURCES
Next steps
Avoca represents a highly compelling gold exploration opportunity that complements the Company's planned and ongoing exploration programmes at its Coolgardie Gold Projects.
Ore intends to advance its understanding of this fertile gold mineralised system through the acquisition of detailed magnetic and gravity datasets, alongside continued regional target generation supported by surface geochemistry. These work programs will refine drill targeting ahead of an initial drilling programme scheduled for early Q3 2026.
Notice Pursuant to Section 708a(5)(E) of The Corporations Act 2001
The Company has issued 3,873,239 fully paid ordinary shares at an issue price of A$0.071 per share as part of the consideration for the acquisition of the four prospecting licenses on 14 May 2026.
The Company hereby notifies ASX under section 708A(5)(e) of the Corporations Act that:
- the Company issued the Ordinary Shares without disclosure to investors under Part 6D.2 of the Corporations Act;
- the Company is providing this notice under section 708A(5)(e) of the Corporations Act;
- as at the date of this notice, the Company has complied with:
a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
b) section 674 and 674A of the Corporations Act; and
- as at the date of this notice, there is no information which is 'excluded information' within the meaning of section 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed by the Company.
The Appendix 2A accompanies this announcement.
This announcement has been authorised for release by the Board of Directors of the Company.
For further information, visit http://www.oreresources.com.au/ or contact:
Nicholas Rathjen
Robin Cox
CEO & Managing Director
Technical Director
E: [email protected]
E: [email protected]
https://oreresources.com.au/link/rJKg9P
ORE RESOURCES
Competent Persons Statement
The information in this announcement that relates to exploration results is based on and fairly represents information compiled by Mr Robin Cox BSc (E.Geol), a Competent Person, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Cox is the Company's Chief Geologist and 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 as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cox consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Forward-Looking Statements
This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Ore Resource Limited's planned exploration programme and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential", "should," and similar expressions are forward-looking statements. Although Ore Resources Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.
Previously Reported Results
The information in this announcement that relates to Exploration Results is extracted from the ASX announcement entitled 'Expansion of Coolgardie Gold & Lithium Project' dated 16 March 2026 (Original Announcements), as referenced, which are available at www.oreresources.com.au. Ore confirms that it is not aware of any new information or data that materially affects the information included in the Original Announcements and, that all material assumptions and technical parameters underpinning the estimates in the Original Announcements continue to apply and have not materially changed. Ore confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original announcement.
oreresources.com.au
ORE RESOURCES
About Ore Resources Ltd (ASX:OR3)
THE BUSINESS: Gold and lithium exploration and development
Ore Resources (ASX: OR3) is an exploration and development company focused on rapidly advancing its 100% owned Coolgardie and Kal East Gold and Lithium Projects in the Eastern Goldfields of Western Australia.
THE LOCATION: Infrastructure-rich project setting
The Eastern W.A. Goldfields is an outstanding location in which to explore for, build, and operate gold and lithium mines. It is a long-established mining province with all the accompanying benefits, including all-year land access, skilled labour, mining services and infrastructure.
The Projects are positioned within 50km of the mining hub of Kalgoorlie (via sealed and access roads), approximately 370km to the port of Esperance and approximately 550km to Perth via road and rail. We are proximal to multiple gold and lithium mining and processing operations and development projects of substantial scale.
This available range of potential commercialisation options, including standalone development, positions us well to monetise current and future success.
THE TEAM: Proven value generators
Our carefully assembled team has an extensive track record of exploration success, project stewardship, development expertise and operating excellence that has repeatedly resulted in the delivery of substantial shareholder value: Nick Rathjen (MD), Robin Cox (Technical Director), Nev Power (Chairman), Rob Waugh (NED).
THE CAPACITY: Balance sheet strength and runway
We are a business and team that is resolutely focussed on the stewardship of our shareholders' capital and the astute application of this capital for maximal return. We are well-funded to undertake our extensive planned exploration and evaluation work programs throughout 2026 and beyond.
oreresources.com.au