Kuniko Limited has completed its initial earn-in requirements 12 months ahead of schedule, securing a 51% ownership interest and operational control of the Commonwealth-Silica Hill Gold-Silver-Copper Project in New South Wales.

Under the Earn-in and Joint Venture Agreement with Impact Minerals Limited, Kuniko fulfilled its $1.5 million expenditure commitment early following systematic geological, geophysical and drilling programs since September 2025. The milestone gives Kuniko control over the project's exploration strategy and establishes a clear pathway to increase its interest to 70% through an additional $1.5 million in exploration spending over the next two years. Upon reaching 70%, Impact Minerals will retain a 30% interest free-carried through to a Decision to Mine.

Located in the Lachlan Fold Belt approximately 100 kilometres north of Orange, the Commonwealth Project comprises polymetallic VMS-style mineralisation at Commonwealth Main and South alongside the Silica Hill epithermal stockwork vein system discovered during recent exploration. Phase 1 drilling delivered high-grade results including 0.5 metres at 347 g/t gold equivalent at Commonwealth South, while a MobileMT survey completed in October 2025 identified a four-kilometre conductive corridor with multiple high-priority drill targets.

“The speed at which we have deployed capital into exploration, including through the current drilling campaign, to reach the 51% ownership milestone is a clear demonstration of our confidence in the Project and its significant growth potential. Securing majority ownership of Commonwealth is an important milestone for Kuniko and a strong endorsement of the exploration strategy we have executed over the past year.”

— Maja McGuire, Managing Director

A Phase 2 diamond drilling campaign is currently underway to support an upgraded Project Mineral Resource Estimate. Assay results from this drilling are anticipated in September 2026. During the second half of 2026, Kuniko also plans to target exploration upside across the four-kilometre conductive corridor and the Walls and Stringers historic shafts, alongside a regional targeting review integrating geological, geochemical, gravity and MobileMT datasets.

Meanwhile, regional activity surrounding the project continues to advance, highlighted by Silver Mines Limited completing a definitive feasibility study for the Bowdens silver project on July 21, 2026, which outlined a pre-tax net present value of A$1.04 billion and silver reserves of 93.5 million ounces.

Read the full announcement: Kuniko Secures 51% Ownership & Control of Commonwealth