Genesis Resources Advances Environmental Approvals at Macedonian Gold Project and Expands Australian Exploration Efforts

Genesis Resources Secures Full Ownership of Plavica Project After 2024 JV Buyout

Genesis Resources achieved sole ownership of the Plavica gold-copper-silver project following a 2024 transaction. Previously holding 62% of Silgen Resources International export-import DOOEL Probistip (Silgen), the entity managing Plavica tenements, Genesis acquired the remaining 38% stake from North Macedonian joint venture partner RIK Sileks Ad Kratovo (Sileks), resulting in 100% control of Silgen shares.

The acquisition was structured as a mineral royalty agreement rather than a cash transaction. Genesis agreed to pay a 4% royalty on all future products—defined as metals, ores, precious stones, concentrates, minerals, and mineral resources as extracted—from Plavica concessions in exchange for Sileks' shares. This concluded the joint venture agreement, streamlining ownership and decision-making over the asset.

Environmental Monitoring Advances Toward Final Mining Approval in North Macedonia

Plavica has progressed through regulatory assessments, with ongoing environmental studies representing the final submission required for mining approval. The mining project was initially submitted to North Macedonia's Ministry of Economy on 23 March 2021 and passed technical and operational review by the Ministry's Audit and Revision Committee on 31 May 2021.

In the June 2026 quarter, Genesis continued baseline environmental monitoring and tree-planting efforts at Plavica, collaborating with a local university and a government forestry company. These activities are integral to completing environmental studies before final mining approval submission. While a specific timeline for submission or approval was not disclosed, these studies mark a crucial milestone toward operational status.

Reconnaissance Exploration in Australia Yields 63 Rock Chip Samples Across Three Tenements

Genesis conducted reconnaissance fieldwork in June 2026 at three Australian tenements, collecting 63 rock chip samples to identify future drilling targets. The projects include Arltunga and Alice Springs in the Northern Territory and Pioneer in Queensland. Exploration Manager James Patterson led site visits with company personnel support. Samples have been sent to Intertek Laboratory in Adelaide, with assay results pending.

At Arltunga, 53 samples were collected mid-June focusing on historic mine workings and untested prospects. At Alice Springs, 10 samples were gathered late June from previously anomalous zones lacking prior drilling. These efforts aim to enhance understanding of mineralization patterns and prioritize drill targets across Genesis' Australian portfolio.

Arltunga Project Secures Two-Year Licence Renewal and Sacred Site Clearance

The Arltunga Gold Project (Exploration Licence EL25238) spans 95.2 sq km approximately 110 km northeast of Alice Springs, Northern Territory. Hosting 33 historic gold mines and prospects, the 31 sub-block licence is 100% Genesis-owned. Regulatory approvals position the project for exploration through 2027.

Licence renewal was granted on 20 April 2026, extending expiry to 7 November 2027. The 19th Annual Technical Report was submitted on 27 November 2025, with the renewal application lodged on 28 October 2025. A Sacred Site Clearance Certificate (SSCC, ref C2024-165) was issued on 29 August 2025 following a 17 July 2024 application to the Central Land Council. An updated Mining Management Plan was approved on 13 September 2024, supporting ongoing compliance.

Alice Springs Tenement Covers 372.59 sq km with Strong Compliance and Exploration Activity

The Alice Springs Project (Exploration Licence EL24817) covers 372.59 sq km (118 sub-blocks), located 110–155 km northeast of Alice Springs, Northern Territory. Fully owned by Genesis, it targets copper, gold, and iron mineralization. Drilling occurred in 2023 and 2025 to test multiple prospects.

Licence renewal was approved on 9 July 2026, extending expiry to 17 April 2028. The 20th Annual Technical Report was lodged on 20 April 2026, with the renewal application submitted on 13 April 2026. The SSCC (ref C2024-165) was issued on 29 August 2025 after a 17 July 2024 application. An updated Mining Management Plan was approved on 13 September 2024, and a letter to AAPA on 24 July 2025 outlined a planned follow-up drilling program, underpinning regulatory compliance and exploration readiness.

Pioneer Project in Queensland's Gaeta Goldfield Undergoes Licence Renewal and Partial Relinquishment

The Pioneer Project (Exploration Permit Mineral EPM15619) covers 6.23 sq km about 70 km from Bundaberg, Queensland, within the Gaeta Goldfield. The 100% Genesis-owned tenement includes 33 historic gold mines and prospects, with mining historically focused on the Pioneer Reef and other reefs such as Gympie, Lord Nelson, West Yorkshire, and Happy Jack.

Licence renewal was approved on 30 September 2024 for two years, expiring 2 August 2026. The 19th Annual Activity Report was lodged on 11 August 2025, and the renewal application on 9 April 2026. A partial relinquishment of one sub-block was approved on 30 October 2025, reducing EPM15619 to two sub-blocks. An Environmental Authority partial relinquishment was also submitted on 28 October 2025, reflecting active portfolio management.

Innovative Mineral Royalty Deal Aligns Interests Following Sileks Stake Acquisition

Genesis' acquisition of Sileks' 38% stake in Plavica was structured as a 4% net smelter return royalty on all future products extracted or produced from the project, preserving capital and deferring cash outflows until production. This includes metals, ores, concentrates, and minerals as they leave the concessions.

The royalty aligns incentives between Genesis and the former joint venture partner, with payments triggered only upon production. Financial terms for the royalty valuation or upfront payments were not disclosed. This approach exemplifies flexible joint venture acquisition structures combining equity transfer with future revenue sharing, enabling Genesis to consolidate control while managing cash flow.

Targeted Rock Chip Sampling Focuses on Historic Mines and Untested Prospects in Australia

Genesis' reconnaissance sampling program across Australian projects aims to identify new prospects and evaluate historic mining areas. At Arltunga, 53 samples collected mid-June targeted old workings and untested prospects to assess mineralization continuity and intensity. Detailed maps show June 2026 samples as pink squares overlaid on historical black square sampling, with gold and copper occurrences highlighted.

At Alice Springs, 10 samples collected late June focused on anomalous areas without prior drilling. Locations of previous 2023 and 2025 drilling are documented, with field observations including malachite outcrops indicating copper mineralization. This systematic approach integrates historical data and new sampling to prioritize drill targets, with assay results pending from Intertek.

Strong Regulatory Compliance and Environmental Stewardship Support Project Development

Genesis Resources maintains rigorous regulatory compliance across all exploration projects, fulfilling annual reporting, licence renewals, sacred site clearances, and mining and environmental management plan approvals. These milestones are essential for project advancement and demonstrate operational discipline.

Engagement with Australia's Central Land Council for sacred site clearances at Arltunga and Alice Springs reflects cultural heritage respect. Updated mining management plans and regulatory approvals prepare projects for future drilling and operations. While not directly yielding discoveries, these compliance efforts underpin sustainable exploration and development across jurisdictions.