Kingsland Minerals Confirms High-Grade Graphite and Gallium Potential at Leliyn

Exceptional Graphite Intercepts Extend Leliyn Prospects

Kingsland Minerals (ASX:KNG) has reinforced the development potential of its Leliyn Graphite Project with high-grade assay results from a recent metallurgical diamond drilling program. Three PQ-size drill holes totalling 380 metres delivered thick graphite intersections from surface, including 125.6 metres at 10.1% total graphitic carbon (TGC), 152.6 metres at 9.6% TGC, and 100.2 metres at 9.0% TGC. These results fall within the open-pit design used in the September 2025 scoping study and provide robust samples for Pre-Feasibility Study (PFS) metallurgical testwork.

The Leliyn project, already one of Australia’s most significant graphite deposits with an Indicated Mineral Resource of 12.3 million tonnes at 7.9% TGC, is advancing rapidly. The drilling program collected approximately 6,000 kilograms of material to optimise crushing, grinding, and flotation parameters. Managing Director Richard Maddocks highlighted that these assays "continue to show the strong potential of the project" and underpin plans for a substantial resource upgrade with approval for up to 140 infill holes.

Gallium Emerges as Valuable By-Product

Adding a new dimension to Leliyn’s economics, metallurgical testwork has confirmed gallium can be extracted from the graphitic schist with a recovery rate as high as 94%. Conducted by SGS Australia subsidiaries, the alkaline bake and leach process effectively liberated gallium, previously identified by CSIRO as hosted primarily in muscovite mica. This breakthrough supports incorporating a gallium recovery circuit in the ongoing PFS and positions gallium as a potentially lucrative by-product amid rising global demand.

Notably, the company has already engaged with downstream processing partner Quinbrook, supplying a metallurgical sample for advanced testwork aimed at qualifying Leliyn graphite concentrate for battery anode material. Quinbrook holds a binding offtake agreement to purchase graphite concentrate, which will be refined into purified spherical graphite in Australia, a key input for lithium-ion batteries. This collaboration and testwork progress build on the company’s recent high-grade graphite assays and earlier metallurgical milestones.

Lithium Exploration Intensifies at Lake Johnston

Beyond graphite, Kingsland has commenced an extensive soil sampling program covering 890 square kilometres at its Lake Johnston Lithium Project in Western Australia. This initiative aims to delineate drill targets for hard rock lithium sources by extending previously identified high-grade lithium anomalies. The program involves around 3,000 samples collected on a 200m by 1,000m grid, analysed for 65 elements using the Ultrafine method by Labwest Perth.

Historic drilling and magnetic surveys indicate a geologically complex area with mafic and ultramafic greenstones, favourable for lithium mineralisation. The soil sampling results will guide future drilling campaigns targeting hard rock lithium deposits, complementing Kingsland’s diversified portfolio of energy minerals.

Financial Position and Next Steps

As of 31 March 2026, Kingsland held $1.139 million in cash, following exploration expenditure of $253,000 during the quarter focused primarily on Leliyn and Lake Johnston. The company’s capital structure includes over 90 million ordinary shares and nearly 19 million listed options (ASX:KNGO). There were no substantive mining production activities during the quarter.

Looking ahead, the company plans to continue metallurgical testwork, including producing a mica concentrate from new drill material to further optimise gallium extraction and progress towards gallium metal recovery. The extensive drilling program at Leliyn, supported by regulatory approvals, aims to significantly upgrade the mineral resource base, feeding into the PFS and downstream processing validation with Quinbrook.

These developments follow Kingsland’s recent gallium recovery milestones and capital raise earlier in the year that underpinned the PFS and metallurgical programs. The combined graphite and lithium exploration efforts position Kingsland as a key player in critical minerals for the energy transition, though the economic impact of gallium remains to be fully validated within the PFS framework.