• Viking divests 12 tenements of First Hit Gold Project to First Au Limited (ASX: FAU)
• Transaction value totals up to $5M, including upfront and contingent payments
• Viking retains exposure through shareholding in FAU and performance-linked consideration
• FAU to fund $500,000 drilling commitment within 12 months
• Transaction sharpens focus on Linka Tungsten Project in Nevada

Viking Mines Limited (ASX: VKA) has entered into binding agreements to divest its non-core First Hit Gold Project in Western Australia to First Au Limited (ASX: FAU) for up to $5 million. The transaction includes an upfront consideration of $2.2 million, comprising $1.2 million in cash and $1.0 million in FAU shares. Additionally, Viking will receive up to $2.8 million in FAU performance rights based on achieving specific drilling and Mineral Resource milestones. The divestment allows Viking to concentrate on its flagship Linka Tungsten Project in Nevada, where a maiden RC drilling campaign is set to commence in the coming weeks. Viking retains exposure to the future value of the First Hit Project through its shareholding in FAU and the performance-linked consideration.

The transaction is expected to strengthen Viking's balance sheet and enable full focus on the Linka Tungsten Project, a near-term tungsten drilling opportunity in the United States.