Redcastle Resources Limited has been granted Mining Lease M39/1171 by the Western Australian Department of Mines, Petroleum and Exploration, effective 1 September 2026.

The newly granted ground, located immediately south of the existing Redcastle Gold Project holding on Mining Lease M39/318, enables the enlargement of the current Queen Alexandra pit. Previously, the pit design was constrained to a safe distance from the tenement boundary. Access to M39/1171 removes this restriction and provides additional operational flexibility.

The project is developed through the Redcastle-BML Ventures Joint Venture, with BML Ventures acting as project operator. Redcastle also executed a Native Title and Mining Agreement with the Wangkatja Tjungula Aboriginal Corporation covering project tenements, including Mining Lease Application M39/1171 prior to its grant.

As part of the next steps, BML will submit an amended Mining Development and Closure Proposal to the department for the Queen Alexandra pit expansion. Upon recommencement of field operations, the joint venture will also consider scheduling further grade-control drilling within the southern Queen Alexandra extension to support detailed mine planning.

“We are pleased to add another granted mining tenement to our portfolio which provides long term tenure which contains what we believe is a significant exploration corridor for gold mineralisation. The recently announced Native Title and Mining Agreement with WTAC combined with the granting of M39/1171, sets Redcastle on a course to fully optimise its Redcastle Gold Project upon resumption of mining operations. Our Joint Venture Team continues to complete tasks to move the Company forward by reprioritising exploration plans across the portfolio and evaluating potential alternative milling options seeking the right combination of capacity, cost and timing to secure an appropriate processing solution.”

— Dr. Ray Shaw, Chairman

The RB JV continues to evaluate alternative processing options following the suspension of toll milling arrangements at Wiluna.

Read the full announcement: M39/1171 Granted - Supports Queen Alexandra Pit Expansion