Flynn Gold Registers Mining Lease and Extends High-Grade Mineralisation in Tasmania

Golden Ridge Mining Lease Sets Stage for Development

Flynn Gold (ASX:FG1) has taken a pivotal step towards developing its Golden Ridge Gold Project in northeast Tasmania by lodging Mining Lease Application 6M/2026, covering 458 hectares that include the high-grade Brilliant and Trafalgar deposits. This application, registered on 30 June 2026, includes a 70-hectare cleared site earmarked for a potential gold processing hub with grid power access and all-weather roads, positioning Flynn to not only process its own future production but potentially serve other regional deposits.

The Golden Ridge Project stretches along a 9-kilometre intrusive contact zone and has shown promising signs of scale and continuity. Exploration efforts during the quarter focused on trenching and channel sampling at Brilliant, aiming to extend known gold mineralisation. Environmental baseline studies and stakeholder engagement have commenced, underpinning the company’s push towards resource drilling and metallurgical testwork.

Firetower Drilling Confirms Deep Polymetallic Potential

At the Firetower Tungsten-Gold Project in northwest Tasmania, Flynn expanded its diamond drilling program from three to ten holes, totalling approximately 1,600 metres, to test extensions of a high-grade polymetallic Au-W-Co-Cu system. The first assay results from drill hole 2019FTD014E confirmed mineralisation extending at least 80 metres deeper than previous drilling, reaching beyond 200 metres vertical depth.

This hole returned 9.64 metres at 2.49g/t gold, 0.29% tungsten trioxide, and 0.52% copper from 200.13 metres, including higher-grade intervals such as 3.77 metres at 4.30g/t gold and 1.47 metres at 4.62g/t gold with elevated tungsten and copper. The polymetallic system remains open at depth and along strike, reinforcing confidence in its scale and continuity ahead of a planned maiden Mineral Resource Estimate and metallurgical studies.

Henty Project Drilling Validates New High-Grade Silver District

Flynn’s maiden diamond drilling at the Silver King Trend within the Henty Silver-Lead-Zinc Project has confirmed a structurally controlled, strike-extensive high-grade silver district. Five holes intersected multiple high-grade silver-lead-zinc shoots along a 1.6-kilometre trend, with standout intercepts including 0.4 metres at 3,087.7g/t silver equivalent (2,450g/t silver, 29.5% lead, 9% zinc) from 101.2 metres.

This drilling, the first modern exploration beneath historical mines in over 80 years, has enabled Flynn to delineate four high-grade shoot targets along the trend. Regional rock-chip sampling further revealed multiple mineralised vein systems beyond Silver King, highlighting the district-scale potential of the project. Follow-up work will focus on geological modelling, mapping, and drill target generation.

Strategic Sale of Western Australian Assets

In line with its Tasmanian focus, Flynn completed the sale of its Forrestania and Lake Johnston projects in Western Australia to Forrestania Resources (ASX:FRS) for $350,000 in shares. This divestment allows Flynn to reallocate resources and capital towards advancing its Tasmanian gold, silver, and critical minerals projects.

Financial Position and Outlook

Flynn ended the June quarter with $1.115 million in cash and holds 641,378 Forrestania shares free of escrow. Exploration expenditure for the quarter was $896,000, reflecting ongoing drilling and evaluation activities. The company acknowledges that further capital will likely be required to sustain its operations but remains confident in securing funds, supported by a standby equity capital agreement and its liquid shareholding in Forrestania.