Nelson Resources Limited has entered into binding agreements to divest its non-core Woodline and Fortnum exploration projects in Western Australia for a total potential consideration of up to $1,090,000 in cash and deferred milestones.

The transactions are being executed through the company’s wholly owned subsidiary, 79 Exploration Pty Ltd, to clear non-core ground and reallocate capital.

Consideration for the Woodline project totals up to $1,000,000. This comprises $600,000 in upfront and scheduled cash, with $100,000 payable on completion, another $100,000 due two months later, and $400,000 linked to the grant of an extension of term for tenement E28/2633. A further $400,000 in deferred cash is tied to JORC Inferred Mineral Resource milestones of 75,000 ounces and 150,000 ounces of gold on the tenement.

The Fortnum project is being sold for $90,000 in cash, structured as $10,000 upon execution, $40,000 on completion, and $40,000 due two months post-completion.

Both agreements are subject to customary closing conditions. Title, risk, and ongoing tenement obligations—including rent, rates, rehabilitation levies, and minimum expenditure—pass to the independent purchasers upon completion.

"Woodline and Fortnum are no longer core to Nelson's strategy. These sales crystallise value from non-core ground, bring cash onto the balance sheet and, at Woodline, keep the Company exposed to exploration success through the resource milestones. That lets us put our time and capital into Gold Point and the rest of the portfolio."

— Gernot Abl, Non-Executive Chairman

Nelson secured the right to earn up to a 90% interest in the Gold Point project in Nevada in December 2025. The company is currently advancing evaluation work at Gold Point, where it awaits regulatory approval for a submitted Notice of Intent to collect a 1,000-ton metallurgical bulk sample at the historic Orleans Mine to support ongoing development across its priority asset portfolio.

Read the full announcement: Nelson Divests Non-Core Assets