Augustus Minerals Advances PNG Exploration with Vanapa River Tenement Bid

Strategic Entry into PNG’s Mineral-Rich Heartland

Augustus Minerals Ltd (ASX – AUG) has taken a bold step in its international expansion by applying for Exploration Licence ELA2955 in Papua New Guinea’s Vanapa River region. Covering nearly 1,906 square kilometres, this licence application situates Augustus within the New Guinea Metallogenic Belt; a globally renowned corridor known for hosting some of the largest gold and copper deposits on the planet.

Located just 35 kilometres north of Port Moresby and 40 kilometres southeast along strike from the Tolokuma gold mine, which boasts 1.5 million ounces of gold at high grades, the Vanapa River licence area offers a rare opportunity for frontier exploration. The region’s geology, characterised by epithermal-porphyry systems and volcanic host rocks, is highly conducive to significant mineralisation.

Ground-Level Engagement and Early Signs of Potential

In late October 2025, Augustus personnel, accompanied by local landowners, conducted a three-day site visit to the Vanapa River area. This collaboration underscores the company’s commitment to respectful and inclusive exploration practices. During the visit, the team observed active artisanal alluvial gold workings, a promising indicator of underlying mineral deposits, although the primary source of this gold remains to be identified.

CEO James Warren highlighted the uniqueness of this opportunity, noting that Augustus is the first company granted permission to explore such a large tract in this underexplored district. The company’s approach combines geological expertise with strong community relationships, a strategy that could unlock significant value if exploration confirms the presence of substantial mineral resources.

Parallel Progress at Mt Kare and Strengthened Leadership

Alongside the Vanapa River application, Augustus is advancing its Mt Kare licence application, acquired through its PNG subsidiary ACM Contract Mining PNG Ltd. Mt Kare is another highly prospective gold project in PNG’s Hela and Enga provinces. The company has recently held successful landowner awareness meetings in Port Moresby, reinforcing its local partnerships and demonstrating its readiness to develop the project responsibly.

Augustus has also bolstered its board and executive team, signaling its intent to move beyond exploration towards mine development. This leadership enhancement aims to provide the technical and strategic capabilities necessary to navigate the complex permitting landscape and operational challenges in PNG.

Positioning for Growth in a Competitive Landscape

Augustus’s dual focus on Vanapa River and Mt Kare places it at the forefront of exploration in one of the world’s most mineral-endowed regions. The New Guinea Metallogenic Belt hosts giants like Frieda River, Porgera, and Wafi Golpu, underscoring the scale of opportunity. However, the path from licence application to production is fraught with regulatory, logistical, and geopolitical challenges.

For investors, Augustus’s progress represents a compelling story of strategic positioning and community engagement in a frontier mining jurisdiction. The company’s ability to secure exploration rights and build local support will be critical as it seeks to translate geological potential into tangible assets.