Forrestania Resources Defines 223,000oz Gold Resource Beneath Former Tampia Pit

223,000oz maiden Tampia Mineral Resource Estimate defined

Forrestania Resources (ASX: FRS) has defined a maiden JORC Tampia Mineral Resource Estimate of 4.6Mt @ 1.50g/t Au for 223,300oz Au at a 0.5g/t Au cut-off grade. A pit that has already been mined now has a fresh set of ounces around and beneath it.

The deposit sits within the newly acquired Westonia Hub, and the ~140km road haul to the Edna May processing plant is the same route used when the pit was previously mined. The Competent Person (the qualified expert who signs off the estimate) is Mr Lynn Widenbar of Widenbar and Associates Pty Ltd, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM).

For investors, the estimate adds Mineral Resource ounces to the Forrestania inventory in a known gold system with a mining history.

Resource breakdown

The estimate splits into Indicated and Inferred categories, shown below.

Numbers have been rounded. The total estimate also carries an arsenic grade of 1,201ppm and a sulphur grade of 0.59%.

Roughly 53% of the ounces (118,500 of 223,300) sit in the higher-confidence Indicated category. That matters because Indicated ounces carry more geological certainty than Inferred ounces.

Chairman commentary

David Geraghty, Chairman

“This maiden estimate highlights a significant addition to the Forrestania Mineral Resources inventory, providing additional Mineral Resource ounces within trucking distance of the Edna May processing facility…”

Geraghty also linked the estimate to strategy, saying the Mineral Resource will play an important role in “establishing long-term gold production supported by multiple deposits located within haulage distance of existing processing infrastructure.”

From Ramelius pit to Forrestania resource

Tampia was discovered by BHP in the 1980s. Ramelius Resources Limited (Ramelius) acquired the project from Explaurum Limited in 2019, and Forrestania acquired it from Ramelius in September 2026. It sits on granted Mining Lease M70/816, about 75km south of Merredin in the Wheatbelt region of Western Australia.

The sequence from Ramelius to Forrestania matters for reading the numbers correctly:

1. At the start of mining, Ramelius reported a Tampia Mineral Resource of 8.2Mt @ 1.7g/t Au for 460,000oz.
2. Ramelius mined approximately 3.0Mt @ 2.1g/t Au for ~201,100oz between 2021 and 2023, with ore trucked to Edna May.
3. After mining finished, the remaining in-situ Mineral Resource beneath the pit was removed from Ramelius’ Mineral Resource inventory.
4. Forrestania has now defined a new estimate.

The new estimate has been depleted against the as-mined surface. The 223,300oz is therefore not an addition to the earlier 460,000oz, nor a restatement of it. The earlier figures come from Ramelius reports.

What this tells you is that Forrestania is working with ounces beneath and around a pit with demonstrated mining and haulage to Edna May.

What is a JORC Mineral Resource? Why Indicated and Inferred matter

The JORC Code is the Australasian standard for reporting Mineral Resources. A Mineral Resource must have “reasonable prospects for eventual economic extraction,” and a cut-off grade is the minimum grade included in the reported figure.

Here the cut-off is 0.5g/t Au. Indicated material is confined to areas where drilling is 25m by 25m or less, while material with drill spacing of up to 50m by 50m is classified as Inferred.

Inferred ounces carry lower geological confidence. The estimate has not been externally audited, though it has been internally reviewed.

To test economic prospects, pit optimisation assumed open pit mining and processing at the Edna May plant, using a gold price of AUD 6,000/oz.

Technical foundations supporting the estimate

Data and geology

The estimate draws on a large drilling database:

• 4,496 holes: 1,040 Reverse Circulation (RC), 3,409 Grade Control Reverse Circulation (GCRC) and 47 Diamond Drill (DD) holes, for 180,027.5 drill metres.
• Gold mineralisation occurs as shallow dipping (20°-30°), 2-20m thick lode zones.
• The resource covers an area of 900m x 500m.
• Ordinary Kriging in Micromine 2026.5 was used, with a top cut of 80g/t applied to gold.

All drilling and sampling data pre-dates Forrestania’s involvement and comes from the Ramelius dataset and public reporting by previous operators. Forrestania is in the process of validating the dataset, and the Competent Person made a site visit in August 2026.

Metallurgy

Metallurgical testwork was conducted by Explaurum Ltd. Key findings include:

• Oxide mineralisation has >96% recovery.
• Fresh mineralisation has an average fresh ore recovery of 91.4%.
• Gravity recoverable gold was estimated at approximately 35% of the pre-mining total gold inventory.
• Two stage flotation of the fresh master composite gravity tailings recovered 89.7% of the gold.

The pit optimisation assumed processing at Edna May, and these results are the metallurgical data in the announcement alongside it.

Strategy and next steps

The Edna May Gold Project incorporates Forrestania’s Westonia and surrounding project areas, including Tampia and Symes. A second hub is centred on Lake Johnston.

On further work, the announcement says only that exploration and extensional drill programs “may be undertaken, targeting resource expansion, and regional targets.” No timelines, budgets or production decisions are disclosed.

For investors, the takeaways are the potential for resource growth, the proximity to existing infrastructure, and a 0.3g/t Au mineralisation envelope with a 0.5g/t Au reporting cut-off. With 47% of the ounces classed as Inferred, further drilling would be needed to lift confidence in those ounces.

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