Western Ridge Resources Launches Maiden RC Drilling at Keystone Nevada

Western Ridge Resources Locks In Drilling Contractor for Historic First at Nevada's Keystone Mine

Western Ridge Resources Limited (ASX: WRX) has confirmed the appointment of drilling contractor Midnight Sun Drilling to execute its maiden drilling campaign at the Keystone Project in Nevada — marking the first drilling activity at the historic site in over 80 years. The 19-hole Reverse Circulation (RC) programme totalling 1,380 metres is scheduled to commence on 1 September 2026, with potential for an earlier August start if the contractor's current Nevada project concludes ahead of schedule.

This announcement represents a concrete operational milestone for Western Ridge, moving the Western Ridge Resources Keystone Project maiden RC drilling in Nevada from target generation and landholding expansion into active drill-ready status.

Breaking Ground on Eight Decades of Silence

The Keystone Mine carries a long and documented history of high-grade mineralisation — tungsten, silver, and gold — yet no modern drilling has been conducted at the site since before World War II. That changes this year.

What makes this moment significant for investors is not just the commencement of drilling, but the systematic and deliberate build-up that precedes it:

• Geological mapping and historical data compilation to identify priority targets
• Field reconnaissance across an expanded tenure package
• A ~500% expansion of the Keystone landholding, announced 28 May 2026, securing additional historical mining localities
• Managing Director Dr Matthew Cobb is currently on site in Nevada, personally overseeing final preparations, engaging with laboratories, drilling support contractors, and key suppliers

The groundwork has been laid. The drill rig is on its way.

The Drilling Programme at a Glance

The rig's existing presence in Nevada is a logistical advantage worth noting — it is expected to materially reduce mobilisation costs and streamline the transition to the Keystone Project site.

What Is Reverse Circulation Drilling and Why Does It Matter?

Reverse Circulation (RC) drilling is one of the most widely used exploration techniques in hard-rock mining. Here is what investors need to understand.

RC drilling involves pushing a drill bit into the ground while compressed air forces rock chips back up through an inner tube to the surface. The result is a stream of dry, uncontaminated rock chips that can be collected at regular intervals — typically every metre — and sent to a laboratory for chemical analysis.

RC drilling is faster and more cost-effective than diamond core drilling for initial resource testing, making it well-suited to maiden programmes focused on confirming mineralisation presence and grade at depth.

Furthermore, the Western Ridge Resources Keystone Project maiden RC drilling in Nevada is being used to test whether known high-grade mineralisation at the Keystone Mine extends at depth and along strike — areas that historical miners never had the technology to systematically evaluate. The results will be the first modern geochemical data from Keystone and will directly inform whether a larger, more advanced drilling programme is warranted.

Key Terms for Understanding the Programme

• RC Drilling: Reverse Circulation drilling; an exploration method using compressed air to return rock chips to the surface for analysis
• Mine Extensions: Areas of potential mineralisation beyond the known limits of historical workings
• Mobilisation Costs: Costs associated with transporting drilling equipment to a project site
• Polymetallic: A deposit containing multiple metal types — in Keystone's case, silver, gold, and tungsten
• Pershing Trend: An emerging mineralised corridor in Nevada within which the Keystone Project sits

Why the Contractor Delay Does Not Diminish the Opportunity

Western Ridge had originally targeted a late May to early June 2026 drilling start. The preferred contractor subsequently withdrew its bid, requiring the company to undertake a fresh market review. In Nevada's current exploration environment, that is no minor task.

"The demand for RC rigs in Nevada has been at unprecedented highs, driven by strong commodity prices and strong exploration appetite in the US. The Company has worked hard to source a drilling contractor, and we are appreciative of Midnight Sun's flexibility to accommodate the Company's programme in an already full schedule."

— Dr Matthew Cobb, Managing Director, Western Ridge Resources

The context here is important. A competitive rig market is not a sign of weakness in Western Ridge's planning — it is, however, a reflection of how active and well-regarded Nevada has become as a jurisdiction for critical minerals and precious metals exploration.

The fact that Western Ridge has secured a contractor with an existing Nevada presence, at a time of peak regional demand, speaks to the groundwork done behind the scenes. In addition, the September start date coincides with productive field conditions in northern Nevada, and the potential August pull-forward provides upside on timing.

The Keystone Project: Scale, History, and Untested Potential

The Keystone Project sits within the Pershing Trend in northern Nevada — a district with documented associations with tungsten, silver, and gold mineralisation. The project's most recent expansion increased Western Ridge's total landholding by approximately 500%, incorporating additional historical mining localities and consolidating the company's position across the broader district.

Key Project Characteristics

• Silver-dominant polymetallic system with gold and tungsten
• Multiple historical workings providing strong geological context for drill targeting
• No modern drilling completed at the site in over 80 years, meaning the project is effectively untested by contemporary exploration methods
• Priority targets generated through a combination of geological mapping, historical data review, and direct field assessment by management
• The MD's current on-site presence confirms that target finalisation is active and ongoing

The aerial imagery included in the announcement shows drill pads already prepared at the Keystone Mine, with the historical Keystone Vein workings visible — a tangible indicator that the programme is physically ready to proceed.

What Comes Next: Upcoming Milestones

The maiden drilling campaign is the first of what is expected to be a systematic, staged exploration process across an expanded project area. Results from this initial programme will directly shape the next phase of work.

The Investment Case: Why Keystone Deserves Attention

Western Ridge Resources offers investors exposure to a junior explorer with several characteristics that distinguish it from many early-stage peers.

1. Genuine Discovery Potential Through Technology Gap

An 80-year data gap creates authentic discovery potential. Modern drilling techniques, combined with newly compiled historical data, offer the chance to evaluate a mineralised system that has never been tested with contemporary methods.

2. Diversified Commodity Exposure

The Keystone Project's primary silver orientation, alongside gold and tungsten, provides leverage to multiple commodity price dynamics — particularly relevant given current commodity market conditions.

3. Dramatically Expanded Project Footprint

The ~500% landholding increase, completed just days before this drilling announcement, positions Western Ridge across a far larger portion of the Pershing Trend district than it occupied even weeks ago.

4. Operational Efficiency Built Into Programme

Securing a contractor already operating in Nevada reduces costs and risk compared to a programme requiring long-distance rig mobilisation.

5. Hands-On Management Approach

Dr Matthew Cobb's personal presence at the Keystone site during this critical preparation phase signals a hands-on operational approach and direct accountability to programme execution.

Nevada's Competitive Advantage for Critical Minerals

Nevada has established itself as a premier jurisdiction for critical minerals exploration. The state offers a compelling combination of advantages that make it highly attractive to explorers. These include:

• Established mining infrastructure and support services
• Clear regulatory frameworks for exploration and development
• Skilled workforce experienced in hard-rock mining operations
• Proximity to processing facilities and transport networks
• Political stability supporting long-term resource development

The Western Ridge Resources Keystone Project maiden RC drilling in Nevada benefits directly from this established ecosystem, reducing execution risk and providing access to experienced contractors and service providers.

Understanding Silver-Polymetallic Systems

Silver-dominant polymetallic deposits like Keystone represent a specific class of mineralisation that often occurs in geological settings similar to Nevada's Basin and Range province. These systems typically form when mineral-rich fluids move through fractured rock systems, depositing multiple metals in economically significant concentrations.

Key characteristics of such systems include:

• Multiple commodity exposure reduces dependence on single metal price movements
• Historical mining activity often indicates proven extractability
• Modern processing methods can frequently recover metals more efficiently than historical operations
• Geological continuity often extends beyond historical workings

Why Investors Should Keep Western Ridge on Their Watchlist

Western Ridge Resources sits at an inflection point. The company has spent the preceding months building the intellectual and physical foundation for its exploration programme — expanding the project tenure, generating targets, preparing pads, and securing a contractor. Now, however, the calendar is firmly set.

The next material developments — the actual commencement of drilling and the first assay results from Keystone — will be the earliest modern geochemical data this project has ever produced. For a silver-gold-tungsten system with documented historical high-grade mineralisation and no modern testing, those results carry genuine discovery significance.

The combination of an 80-year exploration gap, expanded landholding, secured drilling contractor, and hands-on management presence creates a compelling setup for potential value creation. Moreover, the Western Ridge Resources Keystone Project maiden RC drilling in Nevada represents more than just another exploration programme — it represents the first systematic test of a historically productive system using modern techniques.

Key Takeaway:
Western Ridge Resources has positioned itself at the threshold of a genuine exploration moment at Keystone — a historically productive Nevada silver-polymetallic system untouched by modern drilling for over 80 years. With a contractor secured, pads prepared, and management on site, the September 2026 drill programme is the near-term catalyst investors should be watching closely.

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