• Binding HOA with TSX-listed Fortuna Mining Corp for 70/30 JV focused on Guinea's Siguiri Basin
• A$14m strategic placement with cornerstone investment from prominent resource investor Tony Poli
• Drilling underway at Dadjan, Tole and Timbakouna projects in the Siguiri Basin

DeSoto Resources Ltd has announced a series of key developments, including a A$14m strategic placement, a joint venture with Fortuna Mining Corp, and the commencement of drilling programs in Guinea's Siguiri Basin. The placement was strongly supported, with a A$5m cornerstone investment from prominent resource investor Tony Poli, an early investor in Predictive Discovery (ASX:PDI). The funds will be used to advance exploration across DeSoto's projects in Guinea and Australia. DeSoto has also executed a binding Heads of Agreement with TSX-listed Fortuna Mining Corp to form a 70/30 joint venture focused on the Siguiri Basin. Fortuna will sole-fund up to US$12.5m in exploration, providing DeSoto with significant financial backing to chase +2Moz open-pit targets in this highly prospective but underexplored region. Drilling is now underway at DeSoto's Dadjan, Tole and Timbakouna projects in the Siguiri Basin, with the company's experienced West African team aiming to build on the historic high-grade gold intercepts already identified. DeSoto is also progressing exploration at its Spectrum project in Australia's Northern Territory, where recent drilling has intercepted sulphides over multiple intervals, with assay results pending.

DeSoto is well-funded and poised for an exciting period of greenfields exploration across its portfolio in Guinea and Australia. The company is targeting the discovery of +2Moz open-pit gold deposits in the highly prospective but underexplored Siguiri Basin, and is also advancing its Spectrum project in the Northern Territory, where recent drilling has intercepted sulphides over multiple intervals.