KAL.ASX: Option exercise nets $2.3M to expand exploration at Pinjin

Option exercise nets $2.3M to expand exploration at Pinjin

Stock	Kalgoorlie Gold Mining Ltd (KAL.ASX)
Release Time	3 Oct 2025, 8:31 a.m.
Price Sensitive	Yes

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Option exercise nets $2.3M to expand exploration at Pinjin

Key Points

Strong uptake of KALOPT7 options by existing shareholders, providing $2.3 million
KalGold well-funded to further accelerate exploration programs at Lighthorse, Wessex, Kirgella Gift, and throughout the Pinjin Project area
Drilling already underway in the Company's largest reverse circulation (RC) drill program to date

Full Summary

Kalgoorlie Gold Mining Limited (ASX: KAL) ('KalGold' or 'the Company') is pleased to announce strong uptake of its KALOPT7 options, which has brought in over $2.3 million since the beginning of the current financial year. The exercise of these options was prompted by the expiry of the right to the $0.06 'bonus options' on 1 October 2025. The strong response from shareholders, including full uptake by major private and institutional investors as well as the Company's directors, demonstrates their continued support and confidence in KalGold's projects. With $5 million now in the bank, KalGold is well-positioned to accelerate its exploration and discovery programs at the Pinjin Gold Project, which is located in the prolific Laverton Tectonic Zone. The Company's largest reverse circulation (RC) drill program to date is already underway, with drilling beginning beneath thick, shallow gold mineralisation at Wessex, then testing the full 1.6 km strike of gold mineralisation and anomalism at Lighthorse, and targeting several holes at Providence South. In parallel, diamond drilling at Kirgella Gift and Providence will commence shortly, with further programs to follow. KalGold's focus on defining shallow, potentially open-pittable gold resources at low costs has already resulted in the definition of a JORC Code (2012) Inferred Mineral Resource Estimate of 76,400 oz at Kirgella Gift and Providence, and 138,000 oz at the La Mascotte gold deposit. The Company aims to build on these successes and define further resources as it continues to test its many targets across the Pinjin Gold Project.

Guidance

With $5 million in cash at bank, KalGold is well-funded to accelerate its exploration programs at the Pinjin Gold Project.

Outlook

KalGold is well-positioned to accelerate its exploration and discovery programs at the Pinjin Gold Project, which is located in the prolific Laverton Tectonic Zone. The Company's largest reverse circulation (RC) drill program to date is already underway, with further diamond drilling programs to follow.