• Acquisition includes 16 exploration licences covering ~942km2 in Eastern Goldfields
• Karonie Gold Project has a JORC Compliant Inferred Mineral Resource of 185,700 oz
• Consideration of $5 million satisfied via share issue, with a 1% Net Smelter Royalty applying

Forrestania Resources Limited (ASX: FRS) has completed the acquisition of the Karonie Gold Project from Goldtribe Corporation Pty Ltd, a subsidiary of Alchemy Resources Limited (ASX: ALY). The Karonie Project includes 16 exploration licences covering ~942km2 of highly prospective mineralised structures within the Kurnalpi Terrain greenstones, 100km east of Kalgoorlie. The project is located adjacent to Vault Minerals' Aldiss Mining Centre and within 50km of Vault Minerals' Randalls processing plant. The Karonie Project consists of the KZ5, Taupo and Parmelia deposits, which host a JORC (2012) Compliant Inferred Mineral Resource of 6,502,000t @ 0.90 g/t Au for 185,700 oz. The consideration for the acquisition was $5 million, satisfied via the issue of shares, with a 1% Net Smelter Royalty applying (no royalty on the first 110,000oz from the KZ5, Parmelia and Taupo deposits). The acquisition strengthens Forrestania's Eastern Goldfields footprint and supports its strategy of building a pipeline of gold assets near existing processing infrastructure.

The acquisition marks an important step in consolidating Forrestania's position within the Eastern Goldfields, with the company now holding a significant and highly prospective tenure footprint in the region. The transaction structure preserves capital while securing a project with an established Mineral Resource and clear exploration upside, allowing Forrestania to continue advancing its portfolio of Western Australian gold assets as it progresses existing production and development activities.