Discovery Alaska Limited has executed a binding share purchase agreement to acquire a 100% interest in the Cuddingwarra Gold Project near Cue in Western Australia, backed by a $900,000 private placement.

The transaction gives Discovery Alaska ownership of eight prospecting license applications covering 13.86 square kilometres in the Murchison Goldfields. The ground sits immediately adjacent to active gold operations and within trucking distance of established processing infrastructure, positioning the company within a heavily active mining district. 

Under the acquisition terms, Discovery Alaska will issue $240,000 worth of shares to the shareholders of vendor Boora Invest Pty Ltd and deliver $480,000 in shares alongside $35,000 in cash to project holder Jack Johns. The deal is conditional upon formal regulatory grants for the prospecting licenses, shareholder approval, due diligence satisfaction, and the completion of the capital raising.

To fund the acquisition and advance exploration, Discovery Alaska has received firm commitments for a $900,000 placement through the issue of 100 million fully paid ordinary shares at an issue price of A$0.009 per share. Settlement for the first tranche is targeted for 27 August 2026, with share allotment following on 28 August 2026. A second tranche, alongside approvals for advisor options and the Cuddingwarra acquisition, will be put to shareholders at the company's Annual General Meeting scheduled for October 2026.

Once the prospecting licenses are granted, Discovery Alaska intends to execute systematic surface geochemistry followed by first-pass air-core drilling and reverse circulation drilling across untested structural targets.

"The Cuddingwarra Gold Project acquisition secures the Company a strategic landholding in the prolific Murchison Goldfields district surrounded by world-class gold projects, and adds a quality, near-term exploration opportunity in a tier-1 mining jurisdiction.

The new project complements the Company's Boulder Creek Gold-Silver Project in Idaho, and together with the placement funds, the Company is in a strong position to push ahead with its exploration works and deliver strong results."

— Jerko Zuvela, Director

Following the acquisition and placement, Discovery Alaska plans to advance exploration across its expanding international portfolio.

Read the full announcement: DAF acquires Cuddingwarra Gold Project and $900k Placement