Asara Resources Limited has agreed to proceed with the acquisition of Arafura Ouest PTE Ltd, expanding its exploration landholding in Guinea’s Siguiri Basin to approximately 301 square kilometres.

The transaction builds upon an earlier December 2025 heads of agreement that placed the company’s regional landholding at approximately 296 square kilometres. The newly added ground includes the Damissa Koura permit, which sits adjacent to the flagship Kada gold project and hosts historical drilling completed by Newmont Corporation between 2009 and 2011. That previous work returned intervals such as 4 metres at 8.0 grams per tonne gold from 38 metres in drill hole DKAC064.

Settlement of the acquisition is scheduled to occur on or around 7 September 2026. Under the terms of the agreement, Asara will pay SGD100 in cash and issue 5 million ordinary fully paid shares to the vendors as consideration for a three-month consulting services period following settlement. Those consultant shares will be subject to a 12-month escrow period.

“We are pleased to have completed our due diligence and to be progressing the acquisition towards settlement. The new permits are a natural complement to our existing portfolio, expanding our landholding across a highly prospective area and providing additional opportunities for exploration and future growth.”

— Matthew Sharples, MD & CEO of Asara

Exploration across the new permits will be integrated into the company’s broader operational strategy to deliver mineral resource growth intended to underpin a definitive feasibility study for Kada.

Read the full announcement: Acquisition of the Damissa Koura Permit, Expanding Kada