Forrestania’s Gold Resource Breaks 2 Million Ounces with Edna May Acquisition

Resource Milestone Elevates Forrestania’s Profile

Forrestania Resources (ASX:FRS) has crossed a significant threshold, announcing a global Mineral Resource Estimate (MRE) of 58.6 million tonnes at 1.1 grams per tonne gold (g/t Au), equating to 2,078,000 ounces of gold. This leap is largely driven by the recent acquisition of the Edna May Gold Project, which alone adds 30.7 million tonnes at 1.0 g/t Au for 945,000 ounces, nearly half of the company’s total resource base.

Chairman David Geraghty framed the deal as transformative: "The addition of the Edna May Gold Project immediately elevates Forrestania into a new category of gold company, with ownership of one of Western Australia's established gold processing hubs." The acquisition not only boosts resource inventory but also provides critical processing infrastructure to underpin Forrestania’s growth ambitions.

Strategic Infrastructure and Regional Footprint

Edna May is situated in the Westonia Greenstone Belt of Western Australia's Yilgarn Craton, a prolific gold province. The project encompasses a conventional 2.9 million tonnes per annum (Mtpa) carbon-in-leach (CIL) processing plant, currently on care and maintenance, alongside established infrastructure including accommodation, an airstrip, tailings storage, and grid power connection. The acquisition also includes mining leases and tenements covering approximately 1,000 square kilometres, offering a substantial regional footprint.

This infrastructure platform is key to Forrestania’s plan to accelerate development and unlock value across its portfolio. The Edna May processing hub complements Forrestania’s existing assets, creating a scalable foundation for future production growth and regional consolidation.

Robust Geological and Resource Framework

The Edna May MRE has been independently reviewed by Widenbar and Associates Pty Ltd, a respected Perth-based geological consultancy, ensuring JORC-compliance and technical rigour. The resource is classified into measured, indicated, and inferred categories with a 0.5 g/t Au cut-off, reflecting reasonable prospects for eventual economic extraction based on open pit mining assumptions and a gold price of AUD 2,000 per ounce.

The deposit is hosted within the Edna May Gneiss, a metamorphosed granitoid intrusion with a strike length of about 1 km and depth exceeding 700 metres. Mineralisation is structurally controlled, principally within quartz veining and larger arcuate veins historically mined underground. The deposit’s metallurgy is well understood, with historical operations achieving approximately 94% gold recovery, supported by a strong gravity gold component.

Comprehensive Data and Validation

The resource estimate is underpinned by extensive drilling, including over 200 km of diamond and reverse circulation drilling compiled from multiple operators over decades. Recent drilling campaigns by Ramelius Resources (the previous owner) employed rigorous quality assurance protocols, including duplicates, standards, and blanks, with assay data verified through multiple validation steps.

Forrestania is in the process of validating historic datasets but notes that much of the older drilling relates to mined-out areas excluded from the current model. The company’s technical team has confidence in the geological interpretation and resource continuity, supported by detailed variography, top-cutting, and grade estimation methodologies.

Development Outlook and Growth Potential

With the Edna May acquisition completed on 4 September 2026, Forrestania now controls a significant resource base and a processing hub capable of handling nearly 3 Mtpa. This positions the company to pursue its objective of becoming a meaningful Australian gold producer, leveraging both the existing resource inventory and broader regional exploration opportunities.

While no production guidance or capital expenditure details were disclosed in this announcement, the acquisition sets the stage for future development studies, exploration programs targeting resource expansion, and potential restart of processing operations at Edna May.