Strata Minerals Accelerates Zelica Gold Project with BML Ventures Deal and Robust Drilling Results

Strategic Partnership Offers Capital-Light Pathway to Production

Strata Minerals Limited (ASX:SMX) has entered a binding Mining Services and Profit Share Agreement with Western Australian contractor BML Ventures Pty Ltd, marking a pivotal step toward advancing the 100%-owned Zelica Gold Project. The deal tasks BML Ventures with funding and managing mining operations, regulatory approvals, haulage, and toll treatment, while sharing future net profits equally with Strata after cost recovery. This arrangement offers a capital-light development route that preserves Strata's upside exposure and supports ongoing exploration efforts.

Phase 2 Drilling Confirms Shallow High-Grade Gold Continuity

During the June quarter, Strata completed a 17-hole Phase 2 Reverse Circulation (RC) drilling campaign at Zelica, delivering a striking 94% success rate with 16 holes intersecting significant gold mineralisation. The program extended mineralisation over approximately 1 kilometre of strike and 115 metres vertical depth, remaining open in all directions. Notable intercepts include 2 metres at 7.58 grams per tonne (g/t) gold within a broader 12 metres at 2.08 g/t from 99 metres (hole SZRC030), and 7 metres at 3.32 g/t including 3 metres at 5.37 g/t (SZRC035). These results reinforce the presence of stacked parallel lodes and higher-grade plunging shoots, substantially enhancing the project's scale potential and providing a solid foundation for a maiden JORC Mineral Resource Estimate.

Expansion of Gold Corridor and New Drill Targets at Zelica South

Strata’s exploration footprint expanded with the acquisition of additional tenure contiguous to Zelica, consolidating control over an interpreted 9.5-kilometre mineralised corridor. Geological mapping and rock chip sampling at the adjacent Zelica South Project returned assays up to 11.78 g/t gold and 19.5 g/t silver, validating historical workings and confirming gold anomalism over around 6 kilometres of strike. These findings have generated multiple drill-ready targets, underpinning the company’s belief in significant underexplored potential across the district-scale system.

Capital Raise and Shareholder Support Strengthen Financial Position

To underpin its exploration and development ambitions, Strata secured firm commitments for approximately A$1.57 million through a placement of 78.8 million shares at 2 cents each to sophisticated and professional investors. Additionally, BML Ventures and its principals agreed to subscribe for up to A$1 million worth of shares at 1.75 cents per share, subject to shareholder approval, which was granted at a General Meeting on 3 July 2026. At quarter-end, Strata held $1.7 million in cash, excluding the pending BML subscription, providing a runway for the next phase of activity.

Outlook Focuses on Resource Definition and Pre-Development Work

Looking ahead, Strata plans to advance systematic exploration and pre-development studies at Zelica, including a high-resolution magnetic geophysical survey to refine structural mapping and drill targeting. The company will also progress metallurgical, environmental, and engineering investigations to support mine planning and permitting. Aircore drilling is scheduled to test the broader 9.5-kilometre gold corridor, while efforts continue to compile a maiden JORC Mineral Resource Estimate. These activities aim to build on the solid drilling foundation and the strategic partnership with BML Ventures to move Zelica closer to production readiness.