Gold Point Consolidation Raises Stakes as Drilling and Approvals Loom

Historic Consolidation in a Tier-1 Mining District

Nelson Resources Limited has taken a significant step by securing a 90% interest in the Gold Point Project, located in Nevada’s renowned Walker Lane District. This acquisition marks the first time in over 140 years that the Gold Point mining district has been consolidated under a single owner, giving Nelson control over a 31 square kilometre claim package that includes historic production of at least 75,000 ounces of gold at exceptionally high grades.

The district’s mineral endowment is impressive, with an estimated 40 million ounces of gold and 205 million ounces of silver in the region, including world-class deposits nearby. Nelson’s consolidation opens the door for a systematic exploration approach that has been absent for more than a century.

Promising High-Grade Exploration Results

Preliminary surface and underground sampling at Gold Point has returned outstanding results, with gold grades reaching up to 64.6 grams per tonne and silver up to 506 grams per tonne. Notably, 30% of historic rock chip samples exceeded 3.5 grams per tonne gold, and over half of the samples collected in a key 2-kilometre area surpassed 10 grams per tonne. These findings underscore the potential for significant high-grade mineralisation.

Beyond gold and silver, the project shows untested potential for copper-molybdenum-gold porphyry and gold-copper-tungsten skarn mineralisation, suggesting a large, integrated magmatic-hydrothermal system. Nelson is preparing for detailed geological mapping, systematic sampling, and geophysical surveys to refine drill targets ahead of maiden drilling planned for the second quarter of 2026.

Strategic Partnership Accelerates Yarri Gold Project Development

In Western Australia, Nelson has entered a Right to Mine Agreement with MEGA Resources, a subsidiary of the global mining contractor Bain Global Resources. MEGA will fully fund operations, provide geological and engineering services, and manage permitting for the Yarri Gold Project. This arrangement allows Nelson to leverage MEGA’s expertise and financial backing without upfront capital commitments.

The Department of Mines has approved an 11,544-metre reverse circulation drilling program at Yarri, with the first phase comprising approximately 3,000 metres designed to test high-grade gold intercepts from historical drilling. Australian Surface Drillers has been appointed as the drilling contractor, with mobilisation imminent.

Financial Position and Outlook

Nelson maintains a robust cash position of over $4.1 million following a $3.25 million capital raising to support exploration and development activities. The company’s disciplined expenditure on exploration and corporate costs reflects a focused approach to advancing its key projects.

With the consolidation of Gold Point and the MEGA partnership at Yarri, Nelson is poised to deliver significant news flow in 2026 as drilling programs commence and exploration results emerge. The upcoming shareholder meeting in February will be pivotal in securing approvals for consideration securities and performance rights related to the Gold Point acquisition and management incentives.