Flynn Gold Files Mining Lease Application and Launches Accelerated Drilling at Golden Ridge Gold Project in Tasmania

Flynn Gold’s Strategic Operations in Tasmania Focused on High-Grade Gold Deposits

Operating in Tasmania, a jurisdiction renowned for its tier-one mining credentials and robust renewable energy infrastructure, Flynn Gold Limited is strategically positioned in northeast Tasmania, geologically contiguous with Victoria’s prolific goldfields. Tasmania’s mining sector contributes over 60% of the state’s export revenue, underscoring its importance as a mineral-rich region. This location provides Flynn Gold with access to established infrastructure, skilled labor, and regulatory frameworks conducive to mineral exploration and development.

Flynn Gold’s exploration strategy targets high-grade gold deposits and critical minerals within Tasmania’s prospective geological formations. As an exploration and development-stage company, Flynn Gold is advancing projects toward potential mine development rather than operating producing mines. Its portfolio is anchored by two key projects: Golden Ridge, focused on gold mineralisation, and Firetower, targeting tungsten, gold, copper, and cobalt. This dual-project approach leverages diverse geological settings and commodity markets while maintaining a concentrated geographic footprint.

Golden Ridge Mining Lease Application Covers 3-Kilometre Mineralised Zone

In the first half of 2026, Flynn Gold registered a Mining Lease Application (MLA) for the Golden Ridge gold project. The MLA covers a mineralised zone extending over 3 kilometres from the Brilliant to the Trafalgar prospects, consolidating land over a continuous gold system. This step marks a transition from early exploration to advanced development planning, enabling resource definition and permitting. The MLA secures mineral rights and establishes the legal framework for detailed studies and mining infrastructure construction.

The application includes a proposed processing site on 70 hectares of cleared land with nearby grid power and all-weather road access, minimizing environmental and infrastructure challenges. This site is central to Flynn Gold’s Gold Processing Hub strategy, aiming to establish a centralized ore processing facility potentially servicing multiple sites or future discoveries. Preliminary assessments indicate technical and economic feasibility for this location.

Exploration Target Estimates and High-Grade Gold at Trafalgar and Brilliant Prospects

In November 2024, Flynn Gold reported an Exploration Target for Golden Ridge ranging from 3.5 to 5.4 million tonnes at 3.0 to 4.0 grams per tonne gold, equating to 449,000 to 520,000 ounces of contained gold. The company notes this target is conceptual, based on current data, and insufficient exploration has been completed to estimate a JORC-compliant Mineral Resource. Whether further exploration will yield a formal resource remains uncertain.

The Trafalgar prospect has recorded exceptional high-grade gold results exceeding 100 grams per tonne in multiple veins, characteristic of intrusive-related gold systems known for concentrated mineralisation. The Brilliant prospect is open along strike and at depth, indicating potential for near-surface and deeper mineralisation. These complementary prospects offer opportunities for optimized mine planning and processing.

Golden Ridge Classified as Large Intrusive-Related Gold System in a Productive Geological Setting

Flynn Gold classifies Golden Ridge as a Large Intrusive-Related Gold System, typified by gold mineralisation associated with magmatic intrusions and fault-controlled quartz veins. This deposit style is globally recognized for high-grade, contained ore zones suitable for selective mining. Situated within northeast Tasmania’s Victorian Goldfields mineral province, Golden Ridge benefits from a well-characterized, historically productive gold belt, reducing exploration risk and supporting resource drilling and development.

The presence of multiple prospects within a 3-kilometre strike zone indicates a regionally extensive mineralising event, supporting potential for larger-scale mining or extended mine life. The company’s plans for resource drilling and metallurgical studies reflect confidence in the deposit model and potential to refine and expand mineral estimates.

Upcoming Accelerated Resource Drilling, Metallurgical Testing, and Environmental Studies

Flynn Gold’s advancement strategy for Golden Ridge includes accelerated resource drilling to convert the Exploration Target into a JORC-compliant Mineral Resource, metallurgical studies to evaluate processing characteristics and costs, and environmental impact assessments required for mining licence approval. Stakeholder engagement, including community and indigenous consultations, is also prioritized to align with regional development objectives.

The proposed processing site’s existing cleared land and infrastructure suggest preliminary environmental and community screening has been conducted. Investors should watch for quarterly updates on drilling progress, metallurgical results, and regulatory milestones as the project moves toward permitting and development decisions.

Firetower Project Targets Tungsten, Gold, Copper, and Cobalt in Mt Read Volcanics

Alongside Golden Ridge, Flynn Gold is advancing the Firetower project within Tasmania’s Mt Read Volcanics mineral province, targeting tungsten, gold, copper, and cobalt. The project covers a 6-kilometre exploration zone from Firetower East to West, offering significant discovery potential. This complements the gold-focused Golden Ridge project by diversifying commodity exposure and leveraging tungsten’s growing demand in battery and advanced technology sectors.

The Mt Read Volcanics region hosts world-class mineral deposits and supports major mining operations, reinforcing Flynn Gold’s exploration thesis. Firetower’s inclusion in the portfolio allows staged growth, with Golden Ridge moving toward development while Firetower advances exploration and resource definition.

JORC Code Compliance and Qualified Technical Oversight

Flynn Gold’s Exploration Target for Golden Ridge is supported by competent persons under the 2012 JORC Code. Mr Cael Gniel, a Registered Professional Geoscientist and Senior Consultant at SRK Consulting (Australasia) Pty Ltd, compiled the Exploration Target information with consent for public release. Exploration results were prepared by Sean Westbrook and Michael Fenwick, both qualified professionals providing competent person statements.

This adherence to industry best practices ensures transparency and reliability of reported data. The Exploration Target remains conceptual, with no Mineral Resource estimate yet prepared. The company confirms no new information materially alters prior announcements, maintaining consistency in exploration data.

Investor Outlook and Development Timeline

Flynn Gold is transitioning from advanced exploration to project development, carrying higher risk than producing miners but offering value potential as Golden Ridge progresses through resource definition and permitting. The July 2026 Mining Lease Application filing signals management’s confidence in project economics and development prospects.

Investors should monitor quarterly updates on drilling, metallurgical testing, and regulatory feedback from Tasmanian authorities. The timeline from MLA approval to mining licence and construction depends on exploration outcomes, approvals, and market conditions.

Operating within a tier-one mining jurisdiction with established regulatory frameworks reduces political risks. However, exploration success is not guaranteed, and the Exploration Target remains conceptual until validated. Confirmed high-grade mineralisation at Golden Ridge could support competitive economics globally, pending detailed studies. Flynn Gold remains an exploration and development-stage company without mining revenue, relying on project advancement or alternative capital strategies such as mergers, acquisitions, or joint ventures.