Redcastle Reports 7m at 527 g/t Gold in Grade Control Drilling at Redcastle Reef

Exceptional Drilling Results at Redcastle Reef

Redcastle Resources Ltd (ASX – RC1) has made significant strides in its December 2025 quarter, highlighted by the commencement of an extensive grade control drilling program at the Redcastle Reef gold deposit. The program, conducted by the RB Joint Venture (RB JV) between Redcastle and BML Ventures Ltd, aims to enhance mine planning flexibility and support an updated Mineral Resource Estimate.

Early assay results have been impressive, with some intercepts revealing extraordinarily high gold grades, including a standout 7 metres at 527 grams per tonne (g/t) gold, featuring a 1-metre interval at an exceptional 3,650 g/t. These results, while indicative of the known 'nuggety' nature of the deposit, provide strong evidence of discrete high-grade shoots within the reef, reinforcing confidence in the deposit’s continuity and potential.

Advancing Towards Production – Regulatory and Operational Milestones

In a major development, the RB JV submitted the Mine Development and Closure Plan (MDCP) for the Queen Alexandra and Redcastle Reef deposits ahead of schedule to the Western Australian Department of Minerals, Petroleum and Exploration. This submission marks a critical regulatory milestone, bringing the project closer to near-term gold production, anticipated to commence by mid-2026, pending approvals.

Complementing this, Redcastle completed a 10 – 1 share consolidation during the quarter, aiming to create a more efficient capital structure and attract a broader investor base, particularly institutional participants. The company also launched a loyalty option entitlement offer, successfully raising approximately $149,000 to support working capital needs as it accelerates towards production.

Exploration Success Extends Beyond Core Deposits

Beyond Redcastle Reef, exploration drilling programs at Morgan’s Castle East and the Sligo prospect have been completed, with results expected to inform future resource growth. These targets lie along a promising east-west mineralised corridor within the Redcastle Project Area, which remains underexplored and offers potential for additional high-grade discoveries.

Looking ahead, Redcastle plans to integrate further drilling campaigns across its Redcastle Project Area and the recently acquired TBone Belt, aiming to build a pipeline of ore sources that could synergise with planned mining operations.

Financial Position and Outlook

At quarter’s end, Redcastle held cash reserves of approximately $1.12 million. While the company reported net cash outflows due to exploration and acquisition activities, it expects costs to moderate going forward. The submission of the MDCP and the anticipated start of mining operations in mid-2026 are poised to transition Redcastle from exploration to production, with first cash flow expected in the second half of 2026.

Overall, Redcastle Resources is advancing rapidly through critical development phases, supported by robust drilling results and strategic regulatory progress. The company’s focus on building a scalable, high-grade gold operation in the Eastern Goldfields of Western Australia positions it well for the next chapter of growth.