Right Resources Raises $10M, Advances Pilot Project with Maiden Drilling

Successful ASX Listing and Capital Raise

Right Resources Limited (ASX – RRE) marked a significant milestone in the December quarter by successfully listing on the Australian Securities Exchange on 27 October 2025. The company’s Initial Public Offering (IPO) was oversubscribed, raising A$10 million before costs, surpassing its initial target of A$8 million. This capital injection was supported by a mix of domestic and international institutional and sophisticated investors, reflecting strong market confidence in Right Resources’ exploration strategy and assets.

Advancing the Pilot Project with Maiden Drilling

The company’s flagship asset, the Pilot Project located in the Tumbarumba Region of New South Wales, is a large-scale gold target with a history of hard-rock and alluvial workings that have remained largely untested by modern exploration techniques. During the quarter, Right Resources completed site works and permitting to enable a maiden diamond drilling program totaling 4,800 metres. The first drill hole, RRPT0001, was completed to a depth of 699.4 metres in December, targeting a stockwork zone approximately 220 metres below surface. Assay results from this hole are eagerly awaited in the first quarter of 2026 and are expected to provide critical insights into the scale and grade of the mineralisation.

Geological Mapping and Geophysical Surveys

Complementing the drilling program, the company undertook detailed surface geological mapping and an ultra-detailed ground magnetic survey across the core zone of the Pilot Project. These efforts confirmed multiple sub-vertical, high-grade gold zones associated with sheared porphyritic rhyolite and delineated structurally controlled gold-bearing vein arrays coincident with historic workings. Notably, rock chip sampling returned significant gold grades, including 12.6 g/t and 10.3 g/t from previously undescribed stockwork vein systems, reinforcing the prospectivity of the area.

Broader Exploration and Research Initiatives

Beyond the Pilot Project, Right Resources continued exploration activities at the Storm Project and New England tenements, with ground magnetic surveys and desktop studies underway to define new targets. The company also maintained its collaborative research program with the University of Tasmania’s Centre for Ore Deposit and Earth Sciences, collecting samples for advanced petrological and geochronological analysis, with results pending. These initiatives underscore the company’s commitment to applying modern scientific techniques to historically underexplored gold provinces.

Financial Position and Outlook

At the end of the quarter, Right Resources held a cash balance of A$7.7 million, reflecting prudent financial management following the IPO and initial exploration expenditures. The company remains on track with its use of funds as outlined in its prospectus, having spent A$2.45 million on exploration activities during the period. With drilling results pending and multiple exploration targets identified, Right Resources is positioned to deliver further value as it advances its portfolio in the coming months.