Flynn Gold Registers Mining Lease Application to Propel Golden Ridge Gold Project Development in Northeast Tasmania

Strategic Progress with Mining Lease Application Registration at Golden Ridge

Flynn Gold Limited has reached a significant development milestone by securing registration of Mining Lease Application 6M/2026 over a portion of its Golden Ridge Project in northeast Tasmania. The MLA was pegged on 24 June 2026 and lodged with Mineral Resources Tasmania on 30 June 2026. This registration grants formal recognition of the company’s mining tenure application and lays the groundwork for advancing from exploration to development. The application covers 458 hectares, including the key Brilliant and Trafalgar gold deposits identified through Flynn Gold’s exploration efforts.

The registration has provided impetus to accelerate project development. Managing Director and CEO Neil Marston highlighted that the MLA includes not only the Brilliant and Trafalgar deposits but also 3 kilometres of highly prospective ground between them, along with approximately 70 hectares of cleared plantation land suitable for a future gold processing facility. The MLA land tenure consists of Permanent Timber Production Zone and Potential Future Production Forest Crown land within northeast Tasmania’s broader mining tenement area.

Exploration Target and Gold Resources Within the Mining Lease

In November 2024, Flynn Gold announced a JORC-compliant Exploration Target for the Trafalgar, Brilliant, and Link Zone prospects now covered by the MLA. This target ranges from 3.5 to 5.4 million tonnes grading 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, with insufficient exploration to define a Mineral Resource and uncertainty whether further work will result in a JORC Mineral Resource estimate.

The deposits represent intrusive-related gold mineralisation along a 9-kilometre zone at the southern contact of the Golden Ridge Granodiorite with Hornfelsed Mathinna Group metasediments. This geological setting has been identified as a source of extensive gold mineralisation. The Exploration Target illustrates the potential scale within the MLA, though further exploration and resource definition are required to advance towards development and production feasibility.

Proposed Gold Processing Hub and Strategic Site Location

The MLA includes about 70 hectares of cleared plantation land, previously pine plantation recently harvested, identified as a site for a gold processing facility. The site benefits from proximity to grid power approximately 2 kilometres away and excellent all-weather road access—both essential for mining operations. A 6-kilometre access corridor with existing road infrastructure connects the processing site to the Golden Ridge deposits, facilitating haulage and operational connectivity.

Flynn Gold envisions the processing hub serving not only the Golden Ridge Project but potentially acting as a regional facility processing ore from other nearby deposits developed by Flynn Gold or third parties upon obtaining necessary environmental and mining approvals. The site’s location near the historic Mathinna Goldfield, which was Tasmania’s largest gold producer until the 1930s and lies roughly 10 kilometres west, offers established mining heritage and infrastructure advantages to leverage.

Environmental Baseline Studies and Mine Permitting Underway

Environmental surveys within the MLA area have commenced as part of Tasmania’s mine permitting process. Flynn Gold is conducting ecological assessments and drainage evaluations to inform environmental management and approvals. Managing Director Neil Marston emphasized that permitting is often the lengthiest phase of mine development, prompting the company to initiate environmental approvals early while advancing resource development and mine planning concurrently.

Planned environmental activities include installing autonomous weather stations to collect baseline meteorological data, conducting spring 2026 flora and fauna surveys, and sampling nearby permanent streams and rivers to establish baseline water quality. This comprehensive environmental baseline work is critical for regulatory compliance and demonstrates Flynn Gold’s commitment to responsible project development.

Accelerated Resource Drilling and Metallurgical Studies

Following MLA registration, Flynn Gold plans to expedite resource drilling at Brilliant and Trafalgar to increase the Exploration Target and convert parts into a defined Mineral Resource estimate. These drilling campaigns will provide geological and grade control data to support resource modelling and facilitate classification under JORC standards, a key step toward feasibility assessment.

Concurrently, metallurgical test work will commence to assess processing characteristics and recovery potential of Golden Ridge mineralisation. This testing is vital for process design, extraction optimization, and validating the economic viability of ore from Brilliant, Trafalgar, and Link Zone prospects. Conducting metallurgical studies alongside drilling enables generation of representative ore samples and data to inform the proposed northeast Tasmania Processing Hub’s design and operation.

Financial Position and Capital Structure Supporting Development

As of 31 March 2026, Flynn Gold held A$2.48 million in cash with no debt, maintaining a clean balance sheet. The company has 608.6 million ordinary shares outstanding, resulting in a market capitalisation of A$12.8 million based on a share price of A$0.021. Additionally, Flynn Gold has listed options totaling 169.3 million (50.6 million FG1O and 118.7 million FG1OA) and 65.5 million unlisted options.

This financial position provides flexibility to fund ongoing exploration, environmental studies, and project development during permitting and advancement phases. The available options offer potential future funding avenues if capital needs increase, although no specific equity raises are currently planned.

Stakeholder Engagement and Regional Development Approach

Flynn Gold emphasizes stakeholder engagement as a core component of its development strategy. Early engagement with local communities, government agencies, indigenous groups, and other stakeholders is underway to support approvals and maintain social license. The company recognizes the importance of transparent communication throughout environmental permitting, resource drilling, and feasibility phases.

Located within northeast Tasmania’s historic gold mining region near the Mathinna Goldfield, the project benefits from regional mining familiarity. Nonetheless, modern environmental standards, indigenous considerations, and regulatory frameworks require a contemporary approach, which Flynn Gold addresses through early stakeholder consultation and comprehensive environmental programs.

Geological Setting and Infrastructure of Golden Ridge Project

The Golden Ridge Project exploits intrusive-related gold mineralisation along a 9-kilometre zone at the southern margin of the Golden Ridge Granodiorite adjacent to Hornfelsed Mathinna Group metasediments. This geology is a proven setting for gold in Tasmania and underpins prospects including Trafalgar, Brilliant, and Link Zone. The MLA boundary encompasses this mineralised zone supporting the company’s Exploration Target.

Infrastructure advantages include proximity to grid power within 2 kilometres of the processing site, all-weather road access throughout the MLA, and a 6-kilometre access corridor connecting deposits to the processing hub. The northeast Tasmania region’s mining heritage, government support, and skilled workforce further enhance operational prospects if the project advances.

Next Steps in Development and Approval Process

Following MLA registration, Flynn Gold will continue environmental baseline studies including weather station installation, spring 2026 flora and fauna surveys, and water quality monitoring. Resource drilling at Brilliant and Trafalgar is planned to upgrade the Exploration Target to a Mineral Resource. Metallurgical testing will assess processing viability. Stakeholder engagement will proceed alongside technical and environmental activities.

While no specific timelines for permitting, mine development, or feasibility studies were provided, these coordinated initiatives demonstrate Flynn Gold’s active progression from exploration towards potential feasibility and development decision milestones in the coming periods.