• Completed Phase 1 and Phase 2 drilling programs at Weebo Gold Project in WA, with promising results
• Commenced drilling at Myall Project in NSW under JV with FMG Resources
• Raised A$3 million through placement, with FMG increasing stake to 19.9%
• Secured A$141,000 in government funding for exploration at Black Ridge Copper target

Magmatic Resources Ltd (ASX:MAG) has provided its Quarterly Activities Report for the three-month period ending 31 December 2025. During the quarter, the company advanced its dual focus with exploration activities progressing at the Weebo Gold Project in Western Australia and the Myall Project joint venture with FMG Resources in New South Wales. At the Weebo Gold Project, Magmatic completed its Phase 1 and Phase 2 drilling programs, with results confirming the potential for extensive shallow gold mineralisation. Highlights included high-grade intersections at the Scone Stone and Ockerburry prospects. The company also commenced a diamond drilling program at the Myall Project following an aircore drilling program, as part of a A$3.5 million exploration budget with JV partner FMG Resources. On the corporate front, Magmatic raised A$3 million through a placement, with major shareholder FMG Resources increasing its stake to 19.9%. The company also secured A$141,000 in co-contribution funding from the NSW Government's Critical Minerals and High-Tech Metals Exploration Program to support diamond drilling at the Black Ridge Copper target.

Magmatic is focused on advancing its exploration programs at the Weebo Gold Project in WA and the Myall Project in NSW, with further drilling and assay results expected in early 2026. The company will also continue to evaluate other opportunities to expand its project pipeline and create value for shareholders.