• Forrestania acquires 16 exploration licences from Goldtribe Corporation
• Karonie Gold Project has a 111,100 oz Inferred Mineral Resource Estimate
• Acquisition aligns with Forrestania's strategy of consolidating prospective tenure

Forrestania Resources Limited (ASX: FRS) has entered into a Binding Heads of Agreement to acquire 16 exploration licences in the Eastern Goldfields region from Goldtribe Corporation Pty Ltd, a subsidiary of Alchemy Resources Limited (ASX: ALY). The acquisition includes the Karonie Gold Project, which has a 111,100 oz Inferred Mineral Resource Estimate at a 0.8g/t Au cut-off. The Karonie Project is located adjacent to Vault Minerals' Aldiss Mining Centre and within 50km of Vault Minerals' Randalls processing plant. The project area covers the under-explored Claypan Shear Zone, which extends towards Ramelius Resources' Bombora deposit and Northern Star Resources' Carosue Dam Mine. The acquisition consideration is $5,000,000, to be paid through the issue of Forrestania shares. Forrestania will also grant Alchemy a 1% net smelter royalty on all minerals mined from the tenements, excluding the first 110,000 ounces of gold from the Parmelia, KZ5 and Taupo deposits. Forrestania's Chairman David Geraghty commented that the acquisition aligns with the company's strategy of consolidating prospective tenure and supports its near-term production ambitions across its Western Australian gold asset portfolio.