FAU.ASX: FAU to Acquire High-Grade Kalgoorlie Resource

FAU to Acquire High-Grade Kalgoorlie Resource

Stock	First Au Ltd (FAU.ASX)
Release Time	29 Jun 2026, 9:14 a.m.
Price Sensitive	Yes

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First Au Ltd to Acquire High-Grade Kalgoorlie Gold Resource

Key Points

First Au to acquire Riverina East Gold Project from Viking Mines
Project includes 11 mineral licenses and 1 exploration license application
Acquisition includes historical high-grade First Hit Project and Bifrost prospect
Consideration includes $1.2M cash and $1M in FAU equity
Additional equity consideration tied to mineral resource growth and exploration success

Full Summary

First Au Limited (ASX:FAU) has announced the acquisition of the Riverina East Gold Project from Viking Mines Limited (ASX:VKA). The project comprises 11 mineral licenses and 1 exploration license application, strategically located in the Kalgoorlie region of Western Australia. The acquisition includes the historical high-grade First Hit Project and the Bifrost prospect, which is considered highly prospective for gold. The upfront consideration is $1.2 million in cash and $1 million in FAU equity, with additional equity consideration tied to future mineral resource growth and exploration success. The transaction is expected to be completed within the coming weeks, subject to regulatory and third-party approvals.