Riversgold Acquires Strategic Kalgoorlie Tenement for Northern Zone Gold Project

Riversgold Expands Its Kalgoorlie Footprint With Strategic Tenement Acquisition

The Riversgold Kalgoorlie tenement acquisition for the Northern Zone Gold Project marks a significant step forward for Riversgold Limited (ASX: RGL), with the company announcing the purchase of a new tenement directly adjoining its existing Kalgoorlie Gold Project. This move increases the total project area by 20% and continues a deliberate strategy of consolidating ground around one of Western Australia's most recognised gold corridors.

A Growing Footprint in a Proven Gold Address

The binding agreement to acquire 100% of granted tenement P25/2850 for a consideration of $75,000 (excluding GST) adds approximately 1.86 km² of new ground to the Kalgoorlie Gold Project, lifting the total project area from 8.36 km² to 10.22 km².

The new tenement sits contiguous to the north of the Company's Northern Zone porphyry gold project — a location that is not incidental. The Northern Zone intrusive-hosted gold project, held on tenement P25/2651, is operated in partnership with Oracle Power Plc and MEGA Resources. Furthermore, the new ground directly supports that project's future development potential.

The Kalgoorlie Gold Project is situated 25 km east of Kalgoorlie, Western Australia — a region globally recognised for gold production and underpinned by world-class infrastructure, processing capacity, and mining services.

What the New Ground Actually Delivers

Beyond the headline area increase, the strategic value of P25/2850 is tied to practical, near-term development considerations. The announcement identifies several specific purposes for the new tenement:

• Infrastructure space: Potential sites for key operational facilities, including processing infrastructure
• Waste dump placement: Critical for any future mining scenario, with regulators and mine planners requiring designated areas well in advance of production
• Transport access: The tenement provides further links to established transport routes, reducing logistical complexity for future operations
• Exploration upside: Riversgold's Technical Director, Ed Mead, noted the company sees "excellent potential to identify additional gold targets on this new ground"

This combination of practical utility and exploration optionality makes the acquisition relevant at multiple stages of the project lifecycle.

"It is great to secure this additional tenure, and it provides us with further strategic optionality for the potential future gold mining plans for our Northern Zone Gold Project. This deal, like our previous deal announced on 20th April, continues to increase our overall tenement footprint in the immediate Northern Zone Project area. We also feel there is excellent potential to identify additional gold targets on this new ground, and we look forward to exploring the tenement in the coming months."

— Ed Mead, Technical Director, Riversgold

Breaking Down the Deal Terms

The acquisition structure is straightforward, with the vendors being unrelated third parties. Key terms are summarised below:

The 2% royalty and the vendors' retained shallow prospecting rights are standard considerations in tenement acquisitions of this nature. This structure preserves Riversgold's upside on any material gold extraction from depth, while compensating the original owners for residual surface-level activity.

Understanding Porphyry Gold Systems — Why They Matter

What Is a Porphyry Gold Project?

Porphyry-style mineralisation refers to large, often low-to-moderate grade gold deposits associated with intrusive igneous rocks (porphyries). These systems are formed when magma intrudes into the Earth's crust and, as it cools, releases hydrothermal fluids carrying gold and other metals that mineralise surrounding rock.

Why Does This Matter to Investors?

1. Scale potential: Porphyry systems can host very large tonnage deposits, making them attractive targets for bulk-mining scenarios.
2. Predictable geometry: The structural nature of porphyry deposits often allows for systematic exploration and resource definition.
3. Infrastructure leverage: Large-footprint porphyry projects benefit significantly from nearby processing infrastructure — a key reason why proximity to the Kalgoorlie region is an asset rather than incidental geography.

The Northern Zone project's intrusive-hosted gold character means that securing surrounding ground — including sites for waste placement and processing links — is a genuine operational prerequisite, not simply a land-banking exercise.

A Pattern of Deliberate Consolidation

This is not an isolated transaction. The announcement explicitly notes that this acquisition follows a previous tenement deal announced on 20 April 2026, indicating a consistent and active approach to building out the land position around the Northern Zone.

For investors, the pattern matters as much as the individual deal:

• Two tenement acquisitions in under a month signals active project-building activity
• The total project area has now grown to 10.22 km²
• Both acquisitions appear strategically targeted at the Northern Zone's immediate surrounds
• The joint venture structure with Oracle Power Plc and MEGA Resources means the benefit of the expanded footprint is shared across the partnership

What Comes Next

Riversgold has flagged several near-term activities following this acquisition:

• Exploration of the new tenement in the coming months, with the company citing potential to identify additional gold targets on P25/2850
• Continued infrastructure planning, given the tenement's specific utility for waste dump sites, processing facilities, and access routes
• Ongoing project development at the Northern Zone in conjunction with joint venture partners Oracle Power Plc and MEGA Resources

The company has not yet disclosed a formal exploration timeline or work programme for the new tenement. However, the language used in the announcement suggests field activities are expected in the near term.

Why Investors Should Watch Riversgold

The Riversgold Kalgoorlie tenement acquisition for the Northern Zone Gold Project reinforces several themes worth tracking as the company assembles a land package with a clear purpose: to give the Northern Zone Gold Project the physical space it needs to progress from exploration toward potential development.

• Capital-efficient growth: A 20% increase in project area for $75,000 is a low-cost way to add strategic optionality
• Location quality: Being 25 km east of Kalgoorlie — one of the world's most infrastructure-rich gold regions — provides a meaningful operational advantage compared to more remote projects
• Partnership credibility: The involvement of Oracle Power Plc and MEGA Resources as partners in the Northern Zone adds a collaborative dimension to the project's development
• Consistent execution: Back-to-back tenement acquisitions in April and May 2026 indicate the company is actively executing on its land consolidation strategy
• Dual value proposition: The new ground offers both immediate infrastructure utility and longer-term exploration upside

Riversgold (ASX: RGL) is methodically building out its Kalgoorlie Gold Project land position, with the latest tenement acquisition delivering a 20% area increase for a modest $75,000 outlay. Positioned 25 km east of one of the world's most celebrated gold addresses and anchored by the Northern Zone porphyry gold project, the company's consolidation strategy is creating the physical and logistical foundation for future development. With exploration of the new ground planned for the coming months and a joint venture structure in place, there are multiple catalysts for investors to monitor.

Glossary of Key Terms

What Is a Tenement?

A tenement is a granted area of land over which a company holds legal rights to explore for or extract minerals, issued by the relevant state government authority.

What Is a Porphyry Gold System?

A porphyry gold system is a style of gold mineralisation associated with intrusive igneous bodies, typically characterised by large tonnage and disseminated gold hosted in and around the intrusive rock.

What Is a Binding Agreement?

A binding agreement is a legally enforceable contract between parties — in this context, confirming Riversgold's right to acquire 100% ownership of the tenement upon satisfaction of agreed terms.

What Is a Retained Interest?

A retained interest is a right held by the vendors to continue prospecting the tenement to a shallow depth (in this case, 10 metres), even after the sale of the tenement to Riversgold.

What Is a Royalty?

A royalty is an ongoing payment made to a third party based on the value or volume of minerals extracted from a tenement, typically expressed as a percentage — in this case, 2%.

What Does Contiguous Mean?

Contiguous means directly adjoining or sharing a boundary — in this context, describing P25/2850's physical connection to the existing Northern Zone tenement.

Ready to Dig Deeper Into Riversgold's Expanding Kalgoorlie Gold Project?

Riversgold Limited (ASX: RGL) is methodically consolidating its position in one of the world's most recognised gold corridors, with back-to-back tenement acquisitions building the physical and logistical foundation for the Northern Zone Gold Project's future development. For investors looking to follow the company's progress — from ongoing exploration of the newly acquired ground through to potential development milestones alongside joint venture partners Oracle Power Plc and MEGA Resources — visit www.riversgold.com.au to learn more about RGL and its growing Kalgoorlie footprint.