Asara Drills 7,857m at Massan, Launches 20,000m Expansion Campaign

Strong Drilling Momentum at Massan Deposit

Asara Resources Limited (ASX – AS1) has delivered a promising quarterly update for the period ending 31 December 2025, highlighting significant progress at its flagship Kada Gold Project in Guinea. The company completed 34 Phase 1 drillholes totaling 7,857 metres at the Massan Deposit, confirming strong continuity of gold mineralisation and extending the deposit’s depth beyond the US$1,800/oz pit shell. These results reinforce confidence in the geological model and suggest robust potential for resource growth.

Phase 2 drilling commenced on the final day of the quarter, initiating a 20,000-metre Air Core and Reverse Circulation campaign aimed at expanding the inferred resource footprint along a strike length exceeding 3.5 kilometres. This ambitious program is designed to significantly increase the scale of mineralisation at Massan, underpinning Asara’s growth strategy.

Auger Drilling and Soil Sampling Enhance Exploration

Complementing the core drilling programs, Asara has embarked on a ~15,000-metre auger geochemical drilling campaign across the Bamfele permit. This technique is particularly suited to penetrating the thick lateritic cover typical of the Siguiri Basin, improving target definition and discovery potential. During the quarter, 318 auger holes were completed for 3,403 metres.

Simultaneously, a Bulk Leach Extractable Gold (BLEG) soil sampling program collected 512 samples this quarter, bringing the year-to-date total to 1,153. The BLEG method mitigates the gold nugget effect common in the region, providing a more reliable measure of gold distribution and aiding in the identification of new exploration targets.

Strategic Acquisition to Broaden Project Portfolio

In a notable move to expand its regional footprint, Asara entered into a binding Heads of Agreement to acquire 100% of Singapore-based Arafura Ouest PTE Ltd. This acquisition would bring the Damissa Koura and Kankan West Projects into Asara’s portfolio, both located adjacent to the Kada Project. Damissa Koura, in particular, benefits from historical drilling by Newmont Corporation, which identified significant zones of oxide gold mineralisation.

The acquisition remains subject to finalisation, but it aligns with Asara’s strategy to consolidate a dominant position within the Siguiri Basin, a prolific gold district in West Africa.

Financial Position and Corporate Focus

Exploration expenditure for the quarter was $3.45 million, reflecting the intensive drilling and sampling activities underway. Asara ended the quarter with a healthy cash balance of $21.4 million, providing a solid runway to fund ongoing exploration and corporate initiatives.

The company is also progressing the divestment of its non-core Chilean assets, including the Paguanta Copper and Silver-Lead-Zinc Project, to sharpen its focus on the promising gold opportunities in Guinea.

Community Engagement and Responsible Exploration

Asara continues to prioritise community relations, conducting extensive engagement and compensation programs with local landowners affected by drilling activities. This approach underscores the company’s commitment to responsible exploration and sustainable development in the region.