Javelin Minerals Extends Eureka Gold Resource and Secures $1.5m Placement

Eureka Drilling Confirms Resource Continuity and Extensions

Javelin Minerals (ASX:JAV) has reinforced the strength of its Eureka Gold Project with recent reverse circulation (RC) drilling confirming the continuity of a 2.04 million tonne resource grading 1.69 grams per tonne gold, containing approximately 110,687 ounces. The program, comprising 37 drillholes for over 5,100 metres, successfully extended high-grade mineralisation along strike north and south of the historic open pit, with notable intercepts including 4 metres at 2.7g/t Au from 91 metres and 5 metres at 2.1g/t Au from 67 metres.

Deeper drilling tested down-plunge extensions beyond 400 metres, encountering gold mineralisation including 3 metres at 1.5g/t Au from 278 metres, potentially indicating a separate mineralised structure east of the main orebody. The main Eureka ore system remains open to the north-northeast, suggesting further growth potential. These results build on the existing Indicated Resource of 1.36Mt at 1.8g/t Au within the global resource estimate and support the prospect of expanding the planned open pit.

Permitting Milestones Advance Mining Development

Crucial environmental and operational approvals are now in place at Eureka, with the Water Extraction License and Native Vegetation Clearing Permit recently granted. The Mining Development and Closure Plan, submitted following a Land Use Agreement with the Marlinyu-Ghoorlie Group, is in the final stages of approval. These milestones clear significant regulatory hurdles, paving the way for potential mining activities and infrastructure development aligned with the expanded mining lease granted earlier this year.

Coogee Project Expansion and Exploration Targets

At the Coogee Gold Project, located near Kalgoorlie, Javelin has identified new gold and copper-gold exploration targets through a technical review of geophysical data. These anomalies, including a large magnetic feature beneath the Coogee North copper-gold resource, will be tested in upcoming diamond and RC drilling programs scheduled for the September quarter.

Strategically, the company secured options to acquire two additional tenements contiguous with the existing Coogee leases, effectively doubling the prospective greenstone exploration area. Initial exploration work on these tenements has commenced, supported by geophysical data integration to refine target identification.

Central Yilgarn Acquisition and Ongoing Evaluation

Javelin’s acquisition of the Central Yilgarn Gold Project for $585,000 in shares adds approximately 690 square kilometres of tenure near Sandstone, Western Australia. The project lies adjacent to significant gold deposits such as Dreadnought’s Illaara and Brightstar’s Sandstone projects. The company is currently compiling historic data and plans geophysical surveys and geochemical sampling to define priority drill targets, setting the stage for an aggressive exploration campaign.

Corporate Strength Bolstered by Strategic Placement

Javelin closed the quarter with a robust cash position of approximately $3.9 million. This was bolstered by a $1.5 million strategic placement to mining executive David Geraghty at a 9.5% premium to the prior share price. Geraghty, now a substantial shareholder with an expected 6.1% stake post-placement, brings significant industry experience. The placement proceeds are earmarked to fund exploration and near-term development across the Eureka, Coogee, and Central Yilgarn projects.

The placement is structured in two tranches, with the second tranche subject to shareholder approval at the company’s General Meeting scheduled for 7 August 2026, where resolutions on the Central Yilgarn acquisition will also be considered.