WA Gold Advances Abercromby with A$243-297m Cashflow and Bullabulling Drilling Underway

Abercromby Project Shows Strong Economic Potential

WA Gold (ASX:WAU) has unveiled a compelling economic case for its Abercromby Gold Project in Western Australia, with a recently completed scoping study projecting a Stage 1 mine net cashflow between A$243 million and A$297 million (pre-tax). The study highlights a modest upfront capital cost of just A$8 million to kickstart production, targeting an initial output of approximately 114,000 ounces of gold. This positions Abercromby as a low-capital, high-leverage opportunity within a prolific gold region.

The project’s 518,000-ounce JORC Mineral Resource is hosted on a granted mining lease, providing a clear pathway to development. Metallurgical testing confirms free milling gold with high recoveries of 93% to 95% using conventional carbon-in-leach processing, while proximity to existing processing facilities offers toll treatment options, including a memorandum of understanding with Wiluna Mining to potentially utilise the Matilda CIL plant.

Drilling Accelerates Resource Definition and Development

WA Gold has completed seven diamond drill holes in the first phase of its 2026 Abercromby campaign, targeting extensions below and south of the current resource over a 500-metre strike. Samples have been submitted for assay, with results expected imminently. The company plans to resume drilling in the third quarter with approximately 6,000 metres of diamond and reverse circulation drilling focused on resource expansion and geotechnical studies to support mine design.

This drilling push is fully funded by WA Gold’s healthy cash balance of A$3.2 million as at 30 June 2026, underpinning the company’s ambition to be shovel-ready by late 2027 or early 2028 and advance toward a Financial Investment Decision (FID) in 2027. The recent geotechnical core assessments by MineGeoTech further bolster confidence in the feasibility study underway.

Bullabulling Project Targets Structural Extensions of Multi-Million Ounce Gold System

Meanwhile, WA Gold has initiated a reconnaissance drilling program at its Bullabulling Gold Project, adjacent to Minerals 260’s 4.5 million ounce Bullabulling Gold Mine. The initial phase includes 46 aircore holes totalling 3,680 metres across eight traverses designed to test high-priority structural targets beneath transported cover, including the interpreted northern continuation of the Bullabulling Shear Zone.

Results from this drilling are expected in early August. The company has also engaged VM Drilling, a leading Goldfields contractor, to receive WA Gold shares as part payment for drilling services, reducing cash outlays and signalling confidence in the project’s potential. A Sub-Audio Magnetic survey is planned for Q3 2026 to refine targets for follow-up drilling.

Corporate Position and Related Party Transactions

WA Gold’s cash flow report for the June quarter shows operating and investing cash outflows consistent with exploration and evaluation activities, offset by prior financing inflows. The company maintains a solid cash position to fund ongoing workstreams across its projects.

Related party payments during the quarter included director fees and remuneration paid to Cadre Geology and Mining Pty Ltd, a company associated with CEO Ben Pollard, as well as lease payments to an entity linked to Mr Pollard. These payments are disclosed in accordance with ASX Listing Rules.

Other projects such as Invincible and South Boddington saw limited activity, with Aboriginal Heritage Clearance work underway at Invincible but no substantive drilling or exploration completed during the quarter.