Koonenberry Gold Expands NSW Exploration with Gundagai Acquisition and Sunnyside Drilling Breakthroughs

Acquisition of Gundagai Gold-Copper Project Enhances Lachlan Fold Belt Presence

Koonenberry Gold has secured a binding agreement to acquire full ownership of the Gundagai Gold-Copper Project, strategically augmenting its NSW exploration portfolio. Situated within the Lachlan Fold Belt—a prolific mineralised province in NSW known for significant discoveries and production—the project boasts historical rock chip samples with exceptional grades reaching 386g/t Au and 27.05% Cu, underscoring high-grade mineralisation potential.

Historical drilling at Gundagai is limited but promising, with prior results including 20m @ 1.78g/t Au from 27m depth (BBRC007) and 7.6m @ 1.08% Cu (DDH4), supporting the need for expanded exploration. Executive Chairman Paul Harris remarked that the acquisition "adds another quality asset to our Lachlan footprint, with historical high-grade results highlighting the upside we see in this region." This move enables integration of Gundagai’s assets with Koonenberry’s broader Lachlan exploration pipeline, potentially generating operational synergies and consolidating expertise across multiple gold-copper targets.

Sunnyside Drilling Validates Extensive Gold Mineralisation Across Multiple Sections

The Sunnyside Prospect at Enmore has produced positive drilling outcomes confirming the continuity and scale of gold mineralisation. Across five drill sections, 22 holes totaling 8,012.7m have been completed, with visible gold intersected in 17 holes and 10 exceeding 100g/t x m intersections. A 12-hole, 4,780.1m diamond drilling program conducted in the June quarter has finalized results, systematically testing the Sunnyside Shear Zone’s strike and down-dip potential.

Notable intersections include 24m @ 1.03g/t Au from 172m within a broader 61m @ 0.56g/t Au interval; 4.6m @ 8.82g/t Au from 303m within 105m @ 0.71g/t Au including 0.6m @ 29.25g/t Au; and 30m @ 1.03g/t Au from 163m within 94m @ 0.56g/t Au. The drilling extended gold mineralisation up to 195m down-dip beyond previous western Sunnyside intercepts, intersecting mineralisation to over 415m vertical depth while remaining open. These results confirm mineralisation continuity over more than 200m strike across five drill sections, with future exploration targeting along-strike and down-dip extensions, especially at the intersection of the Sunnyside Shear Zone and northeast-trending secondary faults controlling higher-grade zones.

Postman's Gully Borah Fault Maiden Drilling Delivers Promising Initial Results

Initial drilling on the Borah Fault at Postman's Gully yielded encouraging first-pass results that demonstrate significant exploration potential warranting further testing. The inaugural program intersected 12m @ 1.02g/t Au from 227m depth, including 4m @ 2.54g/t Au, within a broader 84m @ 0.35g/t Au interval from 197m. Another hole returned 7m @ 1.18g/t Au from 81m, including 1m @ 2.78g/t Au from 84m. Both intercepts remain open in multiple directions, indicating mineralisation extends beyond the current drilling footprint.

The Borah Fault is a major structural feature in the Enmore district and had not been previously drill-tested at Postman's Gully. These positive results support the interpretation that the fault hosts gold mineralisation, with open-ended intersections suggesting potential for further expansion through additional drilling. This highlights the district-scale prospectivity of the Enmore Project and enhances understanding of the gold-bearing fault systems on the property. Follow-up drilling is planned to test the Borah Fault at other locations and greater depths.

Queen of Sheba and Doyle's Prospects Reveal Third Major Regional Fault Structure

The emerging Queen of Sheba and Doyle's prospects at Enmore have produced multiple high-grade rock chip samples confirming a third regional-scale prospective fault parallel to the Borah and Sunnyside Faults, expanding the district’s known mineralised framework. Rock chip sampling over 700m strike at Queen of Sheba’s historic workings yielded consistently high gold grades including 87g/t Au, 66.5g/t Au, 49.7g/t Au, 43.6g/t Au, and others. A historical sample returned 180g/t Au, with mineralisation evident as quartz-sulphide veining containing visible gold.

Doyle's Prospect, largely untested by drilling, returned rock chip results up to 11.55g/t Au and 6.32g/t Au. Notably, Doyle's recorded the highest antimony value at Enmore—0.39% Sb—alongside 7.12g/t Au, a significant finding given its proximity (~20km) to the Hillgrove antimony-gold mine operated by a major regional producer. This gold-antimony association may indicate a distinct mineralisation style with regional importance. Limited historical drilling at Queen of Sheba (two holes) returned 0.60m @ 7.75g/t Au from 41.46m, indicating minimal exploration depth. The company is fast-tracking planning and approvals for drilling at Queen of Sheba in Q3/Q4 2026, with Doyle's as a lower-priority but notable target. The combined prospective strike exceeding 30km across these three fault structures underscores the substantial district-scale opportunity at Enmore.

Lachlan Fold Belt Projects Advance Toward Drilling Stage

Koonenberry Gold’s Lachlan Fold Belt projects progressed significantly during the June quarter, with multiple prospects now drill-ready and slated for testing in the September quarter and beyond. The Dunedoo Gold-Copper-Silver Project has completed planning and approvals and is ready to commence drilling. The Wilga Flats Project awaits results from extensive geophysical and surface geochemistry surveys before drilling. These projects represent important near-term drilling opportunities complementing the advanced Enmore assets.

This advancement of multiple projects to drill-ready status reflects Koonenberry’s methodical exploration strategy and resource prioritisation across its NSW portfolio. By preparing multiple drill targets simultaneously, the company aims to sustain operational momentum and efficiently allocate capital as funding and drilling capacity allow. The timing aligns with successful drilling completions at Enmore, indicating scaling exploration activity. The diverse geological settings and mineralisation styles across Dunedoo, Wilga Flats, and Enmore help mitigate exploration risk through portfolio diversification.

Newmont-Funded Drilling Begins at Junee Joint Venture’s Allawah Prospect

Koonenberry Gold announced commencement of Newmont-funded drilling at the Junee Joint Venture, a partnership providing access to exploration capital from a major mining company. This campaign follows up a prior intersection at the Allawah Prospect of 4m @ 2.84g/t Au within 20m @ 1.15g/t Au from 60m depth (hole JNRCD025). Elevated gold grades in this interval justified Newmont’s funding for continued drilling. Initial results from this program are expected next quarter.

The Junee Joint Venture is strategically important, enabling Koonenberry to advance exploration while conserving capital for other priorities. Newmont’s involvement, as a leading gold producer with exploration expertise, signals confidence in the prospect and offers access to technical resources. This drilling maintains momentum across Koonenberry’s portfolio while managing capital across multiple priority projects. Results will inform the scale and continuity of gold mineralisation at Allawah and guide strategic decisions regarding the Junee asset.

Executive Leadership Restructured to Joint Chairman and Technical Director Model

During the June quarter, Koonenberry Gold restructured its leadership with Paul Harris transitioning to Executive Chairman and Darren Glover appointed Executive Technical Director following Managing Director Dan Power’s departure. The company stated this joint leadership model ensures "strong strategic oversight alongside deep technical capability as we enter an expanded exploration phase." Harris provided commentary on quarterly achievements and exploration strategy, indicating an active operational role alongside board duties.

Glover’s appointment as Executive Technical Director underscores the company’s focus on robust geological leadership amid expanding drilling programs and new asset acquisitions. Moving from a single managing director to a dual executive structure aims to enhance accountability for strategic and technical functions. The company did not disclose further details on Power’s departure or anticipated impacts on operational efficiency.

District-Scale Gold and Copper Potential Across Enmore and Lachlan Portfolios

Koonenberry Gold’s portfolio exhibits strong prospectivity across the Enmore and Lachlan Fold Belt regions of NSW, supported by multiple lines of evidence indicating district-scale potential. The company has identified over 30km of prospective strike across three parallel fault systems at Enmore (Sunnyside, Borah, and Queen of Sheba/Doyle's faults), each hosting gold mineralisation with varying grades and styles. The Sunnyside Prospect has been intersected to over 415m vertical depth and remains open, while Queen of Sheba’s rock chip results up to 87g/t Au and Doyle's gold-antimony mineralisation suggest multiple deposit styles may be present.

Beyond Enmore, the Lachlan portfolio includes Dunedoo, Wilga Flats, Gundagai (following acquisition), and the Junee Joint Venture, forming a geographically diverse suite of exploration assets within the prolific Lachlan mineral system. The Lachlan Fold Belt’s long history of gold and base metal production positions Koonenberry strategically within a proven mineralised environment. The Gundagai acquisition, featuring historical grades of 386g/t Au and 27.05% Cu, exemplifies selective addition of high-quality assets. Collectively, these projects establish a substantial exploration presence poised to capitalize on district-wide mineral trends.

Upcoming Exploration Milestones and Investor Catalysts

Koonenberry Gold has outlined a robust exploration schedule for the September quarter and beyond, offering multiple potential market catalysts. Drilling is planned at Dunedoo, ongoing testing at Wilga Flats, Queen of Sheba, and additional Borah Fault targets. Initial results from Newmont-funded Junee drilling are anticipated next quarter. Accelerated planning and approvals for Queen of Sheba drilling indicate a likely start in Q3/Q4 2026.

Executive Chairman Paul Harris stated, "the Company is entering the September quarter with a broader target pipeline, strengthened leadership and multiple high-priority targets ready for drilling." This signals an active operational phase with concurrent drilling programs testing diverse mineralisation styles and geological settings across the portfolio. Sequential release of drilling results over coming quarters should provide continuous newsflow and engagement opportunities. Completion of the Gundagai acquisition and commencement of systematic drilling at multiple Lachlan and Enmore prospects represent key milestones. Newmont’s involvement at Junee and access to exploration capital through the joint venture may accelerate drilling scale and pace.