BMG Resources Confirms Growth Potential at Abercromby and Bullabulling Gold Projects

Abercromby Gold Project – Expanding a Robust Resource

BMG Resources Limited (ASX – BMG) has reported significant progress in its flagship Abercromby Gold Project during the September 2025 quarter. Assay results from the Phase 1 drilling program have confirmed a large strike extent of the gold system, reinforcing the potential for resource growth beyond the current JORC-compliant Mineral Resource Estimate of 11.12 million tonnes at 1.45 grams per tonne gold, equating to 518,000 ounces.

Located on granted mining leases in a well-established mining region of Western Australia, Abercromby benefits from proximity to existing processing infrastructure, which could accelerate a pathway to production. The company is advancing a scoping study aimed at defining a low-capital expenditure, fast payback mining operation focused on the free-milling gold deposit. Metallurgical testwork has confirmed high gold recoveries of 93% to 95% using conventional carbon-in-leach processing, underscoring the project's economic viability in the current environment of record-high gold prices above A$5,000 per ounce.

Bullabulling Gold Project – Confirming Multiple High-Grade Lodes

At the Bullabulling Gold Project, BMG completed its first gold-focused reverse circulation drilling campaign, comprising 23 holes totaling 1,886 meters. The drilling targeted the Bullabulling North area, adjacent to Minerals 260 Limited’s (ASX – Mi6) 2.3 million ounce Bullabulling Gold Mine. Results confirmed multiple gold-bearing lodes hosted in quartz vein granodiorite, similar to the geology of the neighbouring mine.

High-grade gold intersections at the Poolmans and Peaches prospects provide strong encouragement for further resource definition drilling. Additionally, anomalous gold intercepts at the Flame and Grizzly prospects suggest early-stage targets warranting continued exploration. BMG’s interpretation of Mi6’s recent drilling indicates potential continuity of high-grade mineralisation into BMG’s Bullabulling West tenure, which abuts the Bullabulling Gold Mine, opening new high-priority targets.

Financial Position and Corporate Developments

To support its exploration and development activities, BMG completed a placement raising $600,000 through the issue of 75 million shares at $0.008 each to institutional and sophisticated investors. The company ended the quarter with $384,000 in cash and is engaged in discussions with interested parties for further funding and potential commercial arrangements, particularly relating to Abercromby.

While no substantive work was conducted on other Western Australian projects such as Invincible and South Boddington during the quarter, BMG’s focus remains firmly on advancing Abercromby and Bullabulling. The company’s management expressed confidence in its portfolio and ongoing investor interest, positioning BMG to continue progressing its gold assets amid favourable market conditions.