G11 Resources Unveils Major Wilandra Copper Target and Pacific State Metals Deal

Exploration Breakthrough at Wilandra

G11 Resources Limited has taken a significant step forward in its copper exploration efforts with the announcement of a maiden Exploration Target for its Wilandra Copper Project in New South Wales. The target estimates a potential mineralisation ranging from 15.6 to 21.2 million tonnes grading between 0.8% and 1.6% copper, translating to approximately 170,000 to 250,000 tonnes of copper. While this target remains conceptual and requires further drilling to confirm a Mineral Resource, it highlights the promising scale of the copper system within the Wilandra project area.

The company has also secured co-funding of up to $70,000 from the NSW Government’s Critical Minerals and High-Tech Metals Exploration Program to conduct a targeted Induced Polarisation (IP) survey. This geophysical technique is designed to identify chargeability anomalies indicative of copper-rich massive sulphide mineralisation, potentially guiding future drilling campaigns.

Strategic Acquisition Expands Project Portfolio

In a move to broaden its exploration footprint, G11 Resources has entered into a Share Sale Agreement to acquire Pacific State Metals (Holdings) Pty Ltd, a private company holding several highly prospective copper and gold projects. This acquisition, subject to shareholder approval, involves issuing 183.2 million fully paid ordinary shares at a deemed price of $0.015 per share to Pacific State Metals’ shareholders.

Pacific State Metals’ portfolio includes the Sedgwick Bluff Copper/Gold project in Tasmania, located immediately along strike from the world-class Mt Lyell copper-gold mine; the Packsaddle Gold/Copper project in northwest New South Wales, featuring a large untested Kings Hill anomaly; and the NW Cobar Copper project targeting base metal deposits analogous to the prolific Cobar region. These projects are considered to have the potential to host Tier 1 ore bodies, with new target zones identified for imminent drilling.

Capital Structure and Shareholder Considerations

Following completion of the acquisition, G11 Resources plans to undertake a share consolidation, converting every ten existing shares into one. This move aims to streamline the company’s capital structure, which will increase to approximately 1.15 billion shares post-acquisition, a figure considered large relative to peers. The consolidation will maintain shareholders’ proportional interests while improving market perception and trading efficiency.

The acquisition and consolidation are subject to approval at a general meeting scheduled for November 6, 2025. Independent expert BDO Australia has been appointed to provide an expert report to shareholders, ensuring transparency and fairness in the transaction.

Looking Ahead – Exploration and Development Potential

G11 Resources’ technical team is actively reviewing historic data and preparing priority drill targets across all projects, including the under-explored Sedgwick Bluff tenement, which shares geological similarities with the Mt Lyell mine but has seen limited drilling. The company’s focus remains on advancing these projects through targeted geophysical surveys, surface sampling, and drilling to unlock their full potential.

With a cash balance of approximately $1.25 million at the end of the quarter and ongoing government co-funding support, G11 Resources is positioned to advance its exploration programs in the coming months. The company’s strategy to build a diversified portfolio of copper and gold assets in proven and frontier jurisdictions underscores its ambition to discover significant mineral deposits.