Venus Metals Faces Key Tests as Zinc Hits and JV Progress Raise Stakes

Sandstone Gold Project Update

Venus Metals Corporation has delivered a robust update to its Sandstone (Bellchambers) Gold Project, located in Western Australia. The recent drilling campaign, comprising 34 reverse circulation holes totaling 1,749 metres, has confirmed and expanded the known mineralisation at Bellchambers and the adjacent Rangeview prospect. The updated JORC 2012 Mineral Resource Estimate now stands at 766,000 tonnes at 1.27 grams per tonne gold, equating to 31,400 ounces. Notably, the measured resource category has increased significantly, underscoring the project's development potential.

Complementing the resource upgrade, metallurgical testwork on representative samples indicates the ore is highly amenable to conventional processing techniques. Gravity recovery followed by cyanide leaching achieved rapid and high gold recoveries, with minimal deleterious elements detected. Both oxide and sulphide ores responded well, supporting a low-risk processing route that could streamline future development.

Bridgetown-Greenbushes Joint Venture Progress

In a strategic move, Venus Metals has formalized an unincorporated joint venture with IGO Subsidiary at the Bridgetown-Greenbushes Project. IGO has met the Stage 1 earn-in requirements by investing $3 million in exploration, earning a 51% interest. The JV now holds five granted tenements and one exploration licence application in a highly prospective lithium-tantalum-niobium-cesium province.

Exploration efforts have delineated a coherent 2.8 km by 1.2 km lithium-tantalum-niobium-cesium anomaly at the Ti Tree target, which remains open to the northeast. Additional twelve Priority 2 targets with weaker anomalism have also been identified. IGO is poised to earn an additional 19% interest by committing a further $3 million in exploration, potentially increasing its stake to 70%. This JV arrangement positions Venus to benefit from advancing lithium exploration in a globally significant battery metals region.

Youanmi Base Metals Project Highlights

Venus Metals also reported encouraging results from its Youanmi Base Metals Project, where two diamond drill holes intercepted significant zinc and indium mineralisation. Intercepts include 19 metres at 2.63% zinc and 19.32 grams per tonne indium, and 11 metres at 3.00% zinc and 19.21 grams per tonne indium. These high-grade intersections support the potential for a shallow, open-pittable zinc resource at the Pincher Dome area.

Metallurgical testwork is underway to assess the recovery and concentrate quality of the zinc mineralisation, which will inform future development plans. The Youanmi project benefits from proximity to other advanced mineral assets, enhancing its strategic value.

Financial Position and Outlook

Financially, Venus Metals remains well-capitalized with aggregated cash and investments totaling approximately $25.4 million as of 30 September 2025. This includes $875,000 in cash and a substantial holding in Rox Resources Limited shares valued at around $24.5 million. The company generated net cash inflows from the sale of Rox Resources shares during the quarter, supporting ongoing exploration expenditure of $361,000.

With a solid cash position and active project pipeline, Venus Metals is positioned to continue advancing its portfolio across gold, lithium, and base metals. The company’s strategy to leverage joint ventures and targeted drilling programs aims to unlock value in its diverse Western Australian assets.