3.04m at 6.3% Sb Confirms Felix Gold’s Treasure Creek Potential; Worley Engaged for Processing

Strong Drilling Results Reinforce NW Array Potential

Felix Gold Limited (ASX – FXG) has released additional assay results from its 2025 drilling campaign at the NW Array prospect within the Treasure Creek Project, located in Alaska's Fairbanks Mining District. The latest data confirm the continuity of multiple high-grade antimony-bearing vein structures, including a standout intersection of 3.04 metres grading 6.3% antimony (Sb). These results build on earlier trenching that revealed substantial stibnite veining and support a geological model of stacked, sub-parallel veins extending over a significant strike and depth extent.

Notably, the drilling has also identified a parallel footwall vein zone with grades up to 5.89% Sb over 1.53 metres, and breccia-style mineralisation intersecting 7.54 metres at 2.47% Sb. The system remains open along strike and at depth, suggesting further resource growth potential. While antimony assays are advancing, gold assay results from a substantial number of holes remain pending, with updates expected through the first quarter of 2026.

Strategic Engagement with Worley to Accelerate Processing

In a parallel development, Felix Gold has engaged engineering firm Worley to progress site selection for a potential US-based processing facility. This engagement reflects the company's technical maturity and strategic intent to retain long-term control over metal production. Worley is also assessing toll-treatment options, which could provide a faster route to first metal production while finalising site and development decisions. These complementary pathways aim to balance speed with strategic flexibility.

Felix Gold's Executive Director Joe Webb emphasised the company's rapid execution across technical, permitting, and downstream workstreams. He highlighted that ore supply, rather than processing capacity, represents the primary bottleneck to near-term production, underscoring the importance of ongoing drilling and bulk sampling readiness.

Advancing Toward Near-Term Production and Strategic Positioning

The company is targeting commencement of bulk sampling as soon as practicable following receipt of necessary permits and board approval. Extensive baseline environmental studies and engineering programs are well advanced, supporting a seamless transition to sustained operations. Metallurgical testwork has confirmed the ability to produce military-grade antimony concentrate through relatively simple processing methods, a critical factor given the material's strategic importance.

Felix Gold is positioning the Treasure Creek Project as a key domestic source of high-purity antimony for US defence and semiconductor supply chains. Engagement with multiple US federal agencies is intensifying, aligning the project with national security and critical minerals objectives. The company is deliberately preserving commercial optionality by avoiding early sales agreements that could constrain strategic flexibility or undervalue the asset.

Project Context and Outlook

The Treasure Creek Project benefits from proximity to established infrastructure in the Fairbanks Mining District, including power, roads, and a skilled workforce. The district has a rich mining history, with over 16 million ounces of historical gold production and significant past antimony mining at the Scrafford Mine. Felix Gold is the largest landholder in the district, uniquely positioned to leverage this infrastructure for both gold and antimony development.

Looking ahead, Felix Gold anticipates multiple near-term catalysts including further assay results, bulk sampling progress, metallurgical optimisation, and permitting milestones. The company’s dual focus on gold and critical minerals, combined with its strategic approach to processing and government engagement, positions it as a leading contender to address the US’s critical antimony supply gap.