• Forrestania Resources to acquire 16 exploration licences in Eastern Goldfields
• Karonie Gold Project has 111,100 oz Inferred Mineral Resource Estimate
• Acquisition supports Forrestania's regional growth strategy

Forrestania Resources Limited (ASX: FRS) has entered into a Binding Heads of Agreement to acquire 16 exploration licences from Goldtribe Corporation Pty Ltd, a subsidiary of Alchemy Resources Limited (ASX: ALY), within the Eastern Goldfields gold district of Western Australia. The acquisition includes the Karonie Gold Project, which has a maiden Inferred Mineral Resource Estimate of 111,100 oz at 1.2 g/t Au. The Karonie Project is located adjacent to Vault Minerals' Aldiss Mining Centre and within 50 km 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 represents a strategic consolidation of prospective tenure near existing processing infrastructure and supports Forrestania's regional growth strategy. The consideration for the acquisition is $5 million, to be paid through the issue of Forrestania shares. The transaction is subject to various conditions precedent, including shareholder and regulatory approvals.

Forrestania Resources is dedicated to creating shareholder value through systematic exploration, strong technical execution and a focused approach to growing its gold asset base across Western Australia.