Verity Reports High-Grade Gold Intercepts and Secures Full Ownership of Botswana Assets

Monument Gold Project, Drilling Success in Western Australia

Verity Resources Limited has delivered encouraging results from the first phase of its 10,000-metre resource upgrade and expansion drilling program at the Monument Gold Project, located in the prolific Laverton Goldfields of Western Australia. The Phase 1 reverse circulation drilling at the Korong deposit, which hosts a 139,000-ounce inferred resource, returned consistent gold intercepts exceeding 1 gram per tonne, including standout high-grade intervals such as 7.7 metres at 6.37 g/t gold and 3.9 metres at 6.35 g/t gold.

These results validate the geological model and confirm the continuity of mineralisation within the main Banded Iron Formation lode. The drilling also included twin holes that reconciled well with historical data, strengthening confidence ahead of the planned resource upgrade to the Indicated category. Phase 2 drilling, comprising both reverse circulation and diamond drilling, is underway to further expand and upgrade the resource, with a focus on both infill and step-out holes.

Strategic Acquisition in Botswana Enhances Critical Metals Portfolio

Post-quarter, Verity completed the acquisition of the remaining 34% joint venture interest in its Botswana copper-silver projects from BCL Investments, a government-owned entity in liquidation. This move gives Verity 100% ownership of a substantial 1,800 square kilometre portfolio of high-grade critical metals projects, including the Maibele North nickel-copper-cobalt deposit and the Airstrip and Dibete copper-silver prospects.

The Botswana assets are strategically located near NexMetals Mining Corp.’s operations, which recently secured significant US$150 million financing for mine redevelopment. Historical drilling at Airstrip and Dibete highlights bonanza-grade copper and silver intercepts, underscoring the district’s potential. Verity’s full ownership positions it to capitalize on exploration and development opportunities in this emerging critical metals hub.

Pimenta REE Project in Brazil Shows Promising Rare Earth Potential

In Brazil, Verity’s maiden auger drilling program at the Pimenta Rare Earth Element (REE) Project in Minas Gerais has confirmed significant near-surface REE mineralisation over a 20-kilometre strike. The program returned consistent high-grade total rare earth oxide (TREO) intercepts, with values up to 2,683 ppm TREO and favourable medium rare earth oxide (MREO) proportions around 24–28%.

The mineralisation is hosted within allanite-bearing granite systems, similar to those of American Rare Earths Limited’s Halleck Creek deposit. These early-stage results provide a solid foundation for follow-up drilling and metallurgical testwork aimed at assessing resource depth and extraction viability.

Corporate Developments Support Growth Trajectory

Verity strengthened its financial position with a well-supported $3 million placement, completed in two tranches, to fund ongoing drilling and resource development activities. The second tranche is subject to shareholder approval at a general meeting scheduled for November 7, 2025. Directors have also participated in the placement, signaling confidence in the company’s prospects.

Additionally, the company secured a dual listing on the Frankfurt Stock Exchange, broadening its investor base and international profile. To drive its resource upgrade and expansion strategy, Verity appointed Dr. Rick Gordon, a highly experienced structural geologist with a track record at Northern Star Resources and IGO Limited, as Strategic Advisor. Dr. Gordon will oversee technical aspects of drilling, resource growth, mining licence applications, and future scoping studies.

Looking Ahead

With Phase 2 drilling progressing at Monument and strategic control established over its Botswana assets, Verity Resources is well positioned to advance its critical metals and gold projects. The company’s diversified portfolio across Australia, Botswana, and Brazil offers multiple avenues for growth amid rising demand for gold and critical minerals.