Albion Resources Limited has entered into a binding agreement to secure an exclusive three-month option over four exploration licences covering approximately 27 square kilometres adjacent to its Gidgee Gold Project in Western Australia.

Under the terms of the transaction, Albion will pay a $10,000 cash option fee. If the company decides to exercise the option, it will pay an additional $40,000 at settlement and reimburse up to $2,500 in annual tenement rents. The option package comprises licences E53/2342, E53/2343, E53/2344, and E53/2345 across nine blocks.

The new ground expands the project's exploration footprint significantly beyond the initial licences E53/2099 and E53/2100, which Albion acquired in May 2026 following the exercise of a previous acquisition option.

The acquired licences include ground immediately south of the German Well South prospect, where historical drilling returned high-grade intersections such as 21 metres at 5.4 grams per tonne gold from 118 metres in hole GNRC027 and 16 metres at 5.52 grams per tonne gold from 41 metres in hole 12GWRC010. Licence E53/2345 covers the interpreted continuation of the Tokey West Shear, while other licences in the package cover the interpreted continuation of the Wilson Shear Zone.

The expansion comes as the company prepares to initiate its maiden drilling campaign at Gidgee, following receipt of Programme of Work approval from the Western Australian Department of Mines, Petroleum and Exploration in August 2026. The upcoming program will include aircore drilling across regional targets and reverse circulation drilling at German Well South.

During the three-month option period, Albion intends to complete legal and technical due diligence, review geological and geophysical datasets, and conduct targeted field assessments alongside its ongoing exploration work.

“Securing this low-cost option is a logical extension of our strategy at Gidgee. The option tenure includes ground immediately adjacent to German Well South, and provides Albion with an opportunity to expand our understanding of the broader geological and structural setting surrounding this priority area. With our team already active at Gidgee and preparing to commence our maiden drilling campaign, we are well positioned to progress the technical assessment efficiently alongside our current exploration program.”

— Peter Goh, Chief Executive Officer

Technical review and compilation of geological datasets across the new option tenure will run concurrently with the broader exploration and drilling schedules currently underway at the Gidgee Project.

Read the full announcement: Albion Consolidates Strategic Ground at Gidgee