First Au Limited has entered into a binding agreement to acquire the Sandstone Gold Project in Western Australia from Complete Prospecting Pty Ltd. The transaction grants the company five tenements covering approximately 3.5 kilometres of the prospective Mayard Greenstone Belt as well as exposure to the Crook Well Greenstone Belt within the established Sandstone gold district.

The acquisition package includes a substantial historical reverse circulation drilling database across the Harmonic and Creasy prospects, which provides an advanced starting point for resource definition. Under the terms of the agreement, First Au will pay A$350,000 in cash as an exclusivity fee, issue A$400,000 in shares priced at the 15-trading-day volume-weighted average price prior to completion, and commit to a minimum exploration expenditure of A$250,000 within 24 months.

A further A$150,000 in deferred consideration is linked to delineating a JORC-compliant Inferred or higher Mineral Resource of at least 10,000 ounces of gold at a cut-off grade of 0.5 grams per tonne or higher on the tenements within five years. Completion remains conditional on shareholder, regulatory and third-party approvals, including approval under ASX Listing Rule 7.1 and applicable ministerial consents.

To satisfy conditions precedent for the Sandstone transaction, First Au will hold a general meeting to obtain shareholder approval for issuing the consideration shares. Following completion, the technical team intends to immediately commence data validation to advance the Harmonic and Creasy prospects toward a maiden resource estimate.

"The acquisition of the Sandstone Gold Project is an important addition to FirstAu's growing Western Australian gold portfolio and provides us with an advanced exploration opportunity where substantial historical work has already been completed."

"What particularly attracted us to Sandstone is the combination of prospective geology and the substantial historical drilling database. Rather than starting from first-pass exploration, we have an opportunity to build on this existing body of work and focus our expenditure on validating the data and advancing the project toward a maiden JORC-compliant Mineral Resource."

— Daniel Raihani, Executive Chairman

The transaction follows First Au's expansion of its Western Australian gold footprint through the acquisition of the Riverina East gold project in July 2026. 

Read the full announcement: FAU to Acquire Highly Prospective Sandstone Gold Project