Classic Reaffirms 80% Gold Rights at Forrestania

Open PDF
Stock Classic Minerals Ltd (CLZ.ASX)
Release Time 15 May 2026, 9:24 a.m.
Price Sensitive Yes
 Classic Reaffirms 80% Gold Rights at Forrestania
Key Points
  • Classic Minerals reaffirms its 80% beneficial interest in the gold rights across the Forrestania Gold Project
  • Classic's rights remain protected by registered caveats and are subject to ongoing Supreme Court proceedings
  • Classic was responsible for advancing the Forrestania Gold Project through exploration, resource definition, and securing the mining lease
Full Summary

Classic Minerals Limited ('Classic' or 'the Company') has reaffirmed its continuing and enforceable 80% beneficial interest in the gold rights across the Forrestania Gold Project ('FGP'), including the Lady Ada and Lady Magdalene deposits. Classic confirms that its rights remain protected by registered caveats accepted by the Department of Mines, Industry Regulation and Safety (DMIRS) and remain in force pending determination of Supreme Court proceedings. The Mineral Resource Estimate ('MRE') for Lady Ada and Lady Magdalene was substantially generated through exploration, drilling, technical studies and expenditure undertaken and funded by Classic. The company also confirms it was responsible for progressing and securing the grant of Mining Lease M77/1310 over the Lady Ada and Lady Magdalene deposits. Recent announcements by Forrestania Resources Limited ('FRS') regarding the Hyden Project acquisition do not alter or extinguish Classic's existing legal and beneficial rights. Classic continues to actively pursue Supreme Court proceedings CIV 1381 of 2025 in relation to the Forrestania tenure, and remains confident in its legal position and the ultimate enforcement of its rights. Classic confirms that its 80% Gold Rights remain current and enforceable, and the company continues evaluating pathways toward near-term production and regional processing opportunities.