• Binding agreement to acquire ~108km2 of highly prospective gold exploration tenure in Leonora district
• Acquisition significantly increases Arika's Kookynie footprint to ~150km2, making it one of the major landholders in the district
• Compelling exploration upside with extensive historical workings and high-grade gold intercepts

Arika Resources Limited (ASX: ARI) has entered into a binding agreement with Iris Metals Limited (ASX: IR1) to acquire a portfolio of gold exploration tenements at Kookynie, in the Leonora district of Western Australia. The acquired tenure, which abuts Arika's existing Kookynie Gold Project, will significantly increase Arika's exploration footprint in the region to ~150km2, firmly establishing the company as one of the major landholders in the district, second only to Genesis Minerals. The additional tenure includes extensive historical workings and numerous high-grade gold drill intercepts, despite being largely dormant for over 20 years and under-explored. The acquisition links up a significant mineralized corridor immediately along strike from Genesis Minerals' Ulysses Gold Operation, between Arika's Ithaca and Champion prospects, part of its Kookynie Gold Project where recent work has identified numerous high-priority targets. The balance of the prospective tenure package, located ~35km west of Kookynie, also remains largely unexplored despite its structural setting. Arika is currently drilling at the Kookynie Gold Project as part of a 10,000m program and believes the strategic acquisition will provide a major boost to its exploration efforts in the highly sought-after Leonora-Laverton region.

Arika is focused on advancing the Kookynie and Yundamindra Gold Projects through discovery and development to deliver value for shareholders. The strategic acquisition of the Iris Metals tenements is expected to significantly expand the company's exploration footprint and provide additional high-priority targets to be tested as part of its ongoing programs.