Great Southern Mining Secures Government Funding for Strategic Drilling Programme

Great Southern Mining Secures $337,500 in Government Funding for High-Priority Drilling Programs

Great Southern Mining Limited (ASX: GSN) has successfully secured $337,500 in competitive government funding through Western Australia's Exploration Incentive Scheme (EIS) Round 32. The funding will support two innovative drilling programmes targeting high-grade gold extensions at the Duketon Gold Project and platinum group element (PGE) opportunities at the East Laverton Project.

With only 39 successful applications selected from a competitive field, GSN's approval demonstrates the technical merit and commercial potential of both projects. Great Southern Mining's government funding breaks down into:

• $220,000 for diamond drilling at the Ogilvies prospect within the Golden Boulder area
• $117,500 for testing PGE and base metal targets at the Diorite Hill complex

Understanding Platinum Group Elements (PGEs): The Modern Investment Opportunity

Platinum Group Elements represent six precious metals including platinum, palladium, rhodium, ruthenium, iridium, and osmium. These metals are critical for modern technology, particularly in automotive catalysts, electronics, and green energy applications.

Why PGEs Matter to Investors:

• Limited global supply concentrated in South Africa and Russia
• Growing demand from electric vehicle battery technology
• Strategic importance for energy transition metals
• Premium pricing often exceeding gold values

The global benchmark for PGE deposits is South Africa's Bushveld Complex, which contains over 80% of the world's known PGE reserves. Furthermore, GSN's exploration team has identified geological similarities between their Diorite Hill target and the famous Merensky Reef, a horizon that has produced billions of dollars in platinum.

Two-Pronged Exploration Strategy Targeting Multiple Commodities

Gold Extension Programme at Duketon

Recent drilling results demonstrate exceptional gold grades:

• 70.94 g/t Au over 1m in hole 25GBRC009
• 18.21 g/t Au over 1m in hole 25GBRC007
• 12.45 g/t Au over 1m in hole 24GBRC0007

The two planned diamond holes will extend drilling to 1,600 metres total depth, representing GSN's first systematic deep exploration beyond the typical 200-metre depth limit. In addition, this approach will provide crucial data about the Rosemont Shear's potential.

"To date, GSN has rarely drilled beyond 200 metres at the Duketon Gold Project. The two co-funded diamond holes in the Golden Boulder area will be critical in defining the stratigraphic and structural controls on the high-grade gold mineralisation defined near surface," said Matthew Keane, Managing Director.

PGE Discovery Programme at East Laverton

The Diorite Hill layered rock formation covers 110 km² and features a 7-kilometre thick sequence of accumulated rock layers. Advanced seismic reprocessing has identified two discrete reflective horizons ("Unit A" and "Unit B") that mirror PGE-bearing structures found in world-class deposits.

This innovative approach utilises seismic technology similar to that employed at the Bushveld Complex in South Africa and Stillwater Complex in the USA. However, where PGE-bearing horizons coincide with strong reflectors, the technique allows geologists to identify potentially mineralised zones deep underground that cannot be detected by surface exploration methods.

"GSN's geological team has likened these target horizons to the Merensky Reef of the Bushveld Complex in South Africa, known for its rich platinum mineralisation," noted Matthew Keane, Managing Director.

Strategic Timeline and Execution Plan

What are the immediate priorities for Q4 2025?

Immediate Actions (Q4 2025):

• Complete current shallow drilling programmes at Duketon
• Finalise drilling permits and contractor selection
• Conduct detailed geological planning

Early 2026 Diamond Drilling Campaign:

• Ogilvies Prospect: Two holes targeting 800 metres each
• Diorite Hill: Single 900-metre hole (120m shallow drilling + 780m diamond core)
• Integration of geological, structural, and geochemical data

Expected Outcomes:

• First detailed deep geological data from the Rosemont Shear
• Direct testing of previously untouched PGE-prospective horizons
• Potential resource definition and expansion opportunities

Investment Thesis: Dual-Commodity Strategy in Proven Mining Districts

Great Southern Mining's government funding success validates a compelling dual-commodity approach in Western Australia's established mining corridors. Moreover, the company's strategic positioning offers several investment advantages:

How does operational excellence factor into the investment case?

Operational Excellence:

• 100% ownership of both flagship projects
• Strategic location within 40km of operating mills
• Government backing through competitive EIS selection

Technical Innovation:

• Advanced seismic reprocessing revealing previously unknown targets
• First systematic deep drilling at proven gold prospects
• World-class geological analogues guiding exploration strategy

Resource Potential:

• Historical gold production demonstrating 28.6 g/t Au grades
• Untested PGE targets in 110 km² layered rock complex
• Multi-decade exploration upside across both projects

Technical Merit Recognition Through Competitive Selection

The EIS Round 32 success demonstrates significant technical validation of GSN's exploration concepts. The competitive assessment process, which selected only 39 applications, evaluates projects based on technical merit and commercial potential.

Therefore, Great Southern Mining's government funding approval indicates that independent assessors recognised the quality of both exploration programmes. Furthermore, the Golden Boulder area's structural setting is considered highly favourable for significant gold mineralisation.

The area sits within a prominent structural trend comprising several gold-bearing faults. For instance, this includes the interpreted first-order Rosemont Fault which hosts several gold occurrences on nearby tenure.

Why Should Investors Monitor Great Southern Mining?

GSN represents a unique opportunity to gain exposure to both traditional gold exploration and next-generation PGE discovery in Western Australia's premier mining region. In addition, Great Southern Mining's government funding validates the technical merit of both programmes while significantly reducing exploration risk.

What are the key investment catalysts ahead?

Key Investment Catalysts:

• Early 2026 drilling results from both high-priority targets
• Potential resource discoveries in underexplored geological settings
• Government partnership reducing capital requirements
• Strategic location advantages near existing infrastructure

The Diorite Hill programme represents the first systematic attempt to test the complex for PGE reefs. However, while relatively shallow, the prospective reflective horizons do not extend to surface, rendering them undetectable to previous exploration methods.

This creates a significant opportunity for discovery in an area that has never been properly tested. The combination of proven gold grades, innovative PGE targeting, and strategic government support creates a compelling risk-adjusted opportunity for resource investors.

Looking Forward: Multiple Pathways to Value Creation

Great Southern Mining's government funding positions the company for potential value creation through multiple avenues. The systematic drilling programmes commencing in early 2026 will test two technically robust exploration concepts in proven mining districts.

Furthermore, investors seeking exposure to Western Australia's continued mining evolution should monitor developments closely. The company's dual-commodity approach offers diversified risk whilst maintaining leverage to precious metals and critical minerals sectors.

With government validation of technical merit and strategic positioning near existing infrastructure, GSN presents a compelling opportunity for resource investors. However, the true test will come through drilling results in early 2026 when both high-priority programmes commence systematic exploration of their respective targets.

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