Saturn Metals Expands Gold Exploration with Three New Licences at Aquarius Prospect Near Apollo Hill in Western Australia

Saturn Metals’ Strategic Land Holdings and Aquarius Prospect Location

Operating across the Leonora region, one of Australia’s premier gold districts, Saturn Metals Limited holds an extensive land package of approximately 1,000 square kilometres. The addition of three newly granted exploration licences at the Aquarius Gold Prospect significantly expands this footprint by 135 square kilometres through Exploration Licence 39/2439 and two adjoining licences (31/1340 and 31/1394).

The Aquarius Gold Prospect occupies a key position within Saturn’s broader exploration portfolio, located just 30 kilometres south-east of the company’s 2.83-million-ounce Apollo Hill Gold Resource. The prospect lies immediately along strike from areas previously explored by Sumitomo Metal Mining Oceania Pty Ltd, within a renowned gold corridor between Saturn’s Apollo Hill resource and Northern Star Resources’ Carosue Dam operations. This prime location enhances the prospect’s exploration potential and geological context.

Historical Drilling Highlights and Aquarius Gold Trend Features

The Aquarius Gold Prospect is defined by a 26.5-kilometre mineralised trend tested by historical drilling. Recent exploration on the newly granted ground by Sumitomo, as documented in government open-file data, includes an Aircore drill hole (MBAC06293) intersecting 3 metres at 8.51 grams per tonne gold from 102 metres depth, indicating the presence of high-grade mineralisation within the broader trend.

More advanced drilling, including Diamond and Reverse Circulation methods, has yielded encouraging results. Hole MBRC00053 intersected 36 metres at 1.25 grams per tonne gold from 102 metres, within an 82-metre zone grading 0.83 grams per tonne from 87 metres. Hole MBDD00103 recorded 16 metres at 1.72 grams per tonne gold from 228 metres, including 6 metres at 2.89 grams per tonne from 234 metres. Additionally, hole MBRC00163 returned 33 metres at 1.27 grams per tonne gold from 78 metres. These results demonstrate both broad lower-grade zones and narrower higher-grade intervals across the trend.

Details on Apollo Hill Gold Resource and Ore Reserve Progress

Saturn’s flagship asset, the Apollo Hill Gold Resource, announced in June 2026, contains 2.83 million ounces of gold within 174 million tonnes at 0.51 grams per tonne gold, spanning measured, indicated, and inferred categories. The measured resource includes 4.9 million tonnes at 0.55 grams per tonne for 87,000 ounces; the indicated resource comprises 129 million tonnes at 0.51 grams per tonne for 2.1 million ounces; and the inferred resource totals 40.3 million tonnes at 0.50 grams per tonne for 643,000 ounces. This announcement marked a 590,000-ounce increase in the resource.

Advancing toward mine development, Saturn released a Pre-Feasibility Study and maiden ore reserve in December 2025. The ore reserve totals 104.6 million tonnes at 0.47 grams per tonne gold, containing 1.586 million ounces across proven and probable categories. The proposed Apollo Hill operation’s production target is 117.4 million tonnes at 0.47 grams per tonne gold, equating to 1.771 million ounces. The company has secured Mining Lease 31/496 covering the mine development and infrastructure, a critical milestone. Saturn confirms no material changes have affected resource or reserve estimates since their announcement.

Exploration Licence 39/2439 and Historical Data from Sumitomo

Exploration Licence 39/2439, part of the newly granted licences at Aquarius, covers 135 square kilometres previously held and explored by Sumitomo Metal Mining Oceania Pty Ltd. Historical exploration by Sumitomo provides valuable baseline data on mineralisation characteristics, recorded in Western Australia’s Department of Mines, Industry Regulation and Safety WAMEX database. This data has been reviewed and integrated into Saturn’s geological models.

Sumitomo’s successful identification of mineralisation over a substantial strike length, including high-grade intersections like 3 metres at 8.51 grams per tonne gold, alongside broader lower-grade zones, confirms the Aquarius trend hosts multiple gold mineralisation styles and grades. This historical dataset offers Saturn a strong foundation for geological understanding and follow-up exploration. Transitioning these licences to Saturn enables continuity and application of the company’s geological expertise and drilling technology to further advance the prospect.

Consolidation of Leonora Region Land Package and District-Scale Portfolio

The grant of three exploration licences at Aquarius significantly strengthens Saturn’s land position in the Leonora region, expanding its district-scale portfolio to about 1,000 square kilometres. Aquarius is strategically located between the Apollo Hill resource and major mining operations, providing meaningful upside and enabling systematic evaluation of a large, prospective area within one of Australia’s most productive gold districts.

The proximity of Aquarius—30 kilometres south-east of Apollo Hill—offers potential synergies such as shared infrastructure, haulage routes, and processing facilities developed for Apollo Hill, while representing a distinct exploration opportunity. Positioned between Saturn’s 2.83-million-ounce Apollo Hill resource and Northern Star’s Carosue Dam operations, Aquarius sits within a proven gold corridor. Managing Director Ian Bamborough commented that the licence grants "consolidate our position across this gold corridor and will allow us to systematically evaluate what we believe has the potential to develop into a second gold camp."

Aquarius Prospect Features and Potential for Second Gold Camp Development

The Aquarius Gold Prospect exhibits key characteristics indicative of significant gold mineralisation. The 26.5-kilometre strike length of the mineralised trend highlights a substantial system extent. Saturn’s Managing Director noted the prospect "already displays many of the characteristics that we look for in a significant gold system, with a 26.5km long mineralised trend defined by drilling, including several broad and higher-grade gold intercepts." The combination of broad lower-grade zones and narrower higher-grade intervals underscores a complex mineralisation system warranting systematic exploration.

Saturn’s geological interpretation suggests Aquarius could develop into a "second gold camp" alongside the Apollo Hill project. A gold camp typically encompasses multiple mineralised deposits forming a significant resource. Achieving this status would involve consolidating mineralised zones within the 26.5-kilometre trend into a formal resource estimate. Currently, Saturn is consolidating geological interpretations and preparing drilling programs, with follow-up exploration planned in the coming months. The contiguous licence grants provide the tenure framework essential for systematic evaluation.

Exploration Strategy and Upcoming Drilling Plans

Saturn is finalising its geological interpretation of the Aquarius Gold Prospect and refining drill targets ahead of follow-up programs. The company stated it is "developing its drilling programs, planned for the coming months," indicating detailed planning is underway to define drilling sequences, locations, and methods to test the mineralised trend. This work integrates historical Sumitomo data with Saturn’s geological analysis to identify the most prospective targets within the 26.5-kilometre trend.

This exploration timing aligns with Saturn’s progression toward key project milestones. The recent grant of Mining Lease 31/496 for Apollo Hill supports advancing mine development, while Aquarius exploration proceeds in parallel. This dual approach enables Saturn to move Apollo Hill toward production while exploring for a potentially significant second resource. The geological team can leverage Apollo Hill experience to accelerate Aquarius evaluation and improve targeting.

Regulatory and Tenure Support for Future Development

The grant of three exploration licences at Aquarius, alongside Mining Lease 31/496 for Apollo Hill, reflects Saturn’s success in securing tenure from Western Australia’s Department of Mines, Industry Regulation and Safety. These licences grant legal rights to conduct exploration activities including drilling, sampling, and mapping, providing certainty for investment without risk of competing claims.

The contiguous licences (31/1340, 31/1394, and 39/2439) form a cohesive block covering the Aquarius Gold Prospect. This contiguous tenure enables uninterrupted exploration and potential future mining development. Licence 39/2439 alone covers 135 square kilometres, with the other two adding further area, offering ample space for resource definition drilling and infrastructure. Should exploration lead to resource delineation and mining, this tenure framework supports that transition.

Leonora Region Geology and Gold District Significance

The Leonora region is internationally recognized as a world-class gold district with a rich history of successful mining and exploration. Hosting major operations by multinational companies, it continues to attract strong investment. The district’s Archean metamorphic and granitic geology hosts numerous economic gold deposits. Northern Star Resources’ Carosue Dam operations near Saturn’s projects exemplify ongoing commercial viability.

Saturn’s Aquarius prospect benefits from this proven geological setting. The 26.5-kilometre mineralised trend shares the regional framework of Apollo Hill and other producing mines. Mineralisation styles at Aquarius, combining broad lower-grade zones with narrower higher-grade intervals, mirror successful patterns seen elsewhere in Leonora. Established mining infrastructure, contractor networks, haulage routes, and proximity to processing facilities further enhance the economics of potential development at Aquarius should resource definition prove successful.