AGC Advances NSW Gold Ambitions with $5.4m Junee Project Acquisition

Strategic Expansion into a Major NSW Gold Province

Australian Gold and Copper Ltd (ASX:AGC) is broadening its exploration horizon with the binding acquisition of New South Resources Pty Ltd, owner of the Junee Gold Project in New South Wales. Valued at approximately $5.4 million through the issuance of 30 million AGC shares, this move brings AGC into one of NSW’s most fertile gold belts, located roughly 230km south of its South Cobar Project.

The Junee Project boasts seven drill-ready targets, including the high-grade Dobroyde epithermal deposit, which has historical intercepts such as 64m at 13.5 g/t gold and 39m at 5.2 g/t gold. Other notable prospects include the Burringa copper-gold-molybdenum system with shallow drill results like 42m at 0.7% copper and 0.2 g/t gold, indicating significant discovery potential.

Funding the Next Phase of Exploration

To support this acquisition and ongoing exploration, AGC has secured firm commitments for a two-tranche placement raising $5 million. The first tranche, raising $2.45 million, is under existing placement capacity, while the second tranche, raising $2.55 million, involves related party participation and awaits shareholder approval. The placement price of $0.155 per share represents a near 14% discount to AGC’s last close, reflecting an incentive for investors to back the company’s accelerated drilling plans.

These funds will not only fuel exploration at Junee but also continue drilling programs at AGC’s Achilles and Evergreen projects within South Cobar, where the company recently reported a 38.5 million ounce silver-equivalent resource. The allocation of the $12.1 million total budget reflects a balanced approach to advancing multiple high-potential assets.

Geological Promise and Regional Synergies

Junee’s geological setting is compelling, with multiple mineralisation styles identified, including carbonate base metal epithermal gold, alkalic porphyry copper-gold-molybdenum, skarn gold-copper, and lode-style gold deposits. The project’s stratigraphy aligns closely with world-class deposits like Newmont’s Cadia Valley mines and Evolution Mining’s Cowal gold mine, underscoring its prospectivity.

AGC’s leadership, including Managing Director Glen Diemar and exploration manager Matt Cusick, bring direct experience with New South’s targets, enhancing operational synergies. The project’s unencumbered tenure, free of royalties and buybacks, further strengthens its appeal.

Transaction and Next Steps

The acquisition is expected to complete in early July 2026, subject to shareholder approvals and customary conditions precedent, including an in-specie distribution of AGC shares currently held by New South to its shareholders. Approximately half of the 30 million consideration shares will be escrowed in tranches of six and twelve months.

Drilling preparations are underway with fieldwork, permitting, and drill rig mobilization planned imminently. AGC aims to rapidly test the high-priority targets, leveraging over $10 million of prior exploration investment by majors such as Freeport-McMoRan and Newmont.

This acquisition and capital raising mark a significant step in AGC’s transition from explorer to developer, aiming to unlock multi-million ounce gold discoveries in NSW’s premier gold province while maintaining momentum at its South Cobar assets.