Vita Resources Boosts Ninnis Gold Auger Drilling Program After Promising Initial Results in Western Australia

Ninnis Gold Project Location and Geological Context in a Premier Gold Province

The Ninnis Gold Project covers 25 square kilometres of prospective yet underexplored terrain in Western Australia's Northern Goldfields, approximately 30 kilometres west of Laverton near the sealed Leonora-Laverton Road. The project's exploration licence E39/2110 lies within a world-class gold province, just 6 kilometres from the Mount Morgans Gold Mining Centre, acquired by Genesis Minerals (ASX:GMD) after its 2023 takeover of Dacian Gold.

The project is strategically positioned near major gold operations including Granny Smith, operated by Gold Fields Limited with 2.389 million ounces of gold resources, and Sunrise Dam, operated by Anglo Gold Ashanti, with 0.97 million ounces of gold resources. Magnetic Resources (ASX:MAU) operates projects east of Ninnis, including the Lady Julie Project with a mineral resource estimate of 2.1 million ounces of gold. This cluster of significant operations validates the broader region’s prospectivity and situates Ninnis within established mineralised terrain.

Ninnis Gold shares key geological features with the nearby Mount Morgans Gold Mine, including mafic rocks and banded iron formations (BIF), alongside additional structural complexity defined by the eastern Ninnis Shear. Previous exploration was limited by shallow drilling and extensive surface cover that masked mineralisation. Vita Resources’ current strategy aims to penetrate this cover and test deeper structural features previously unexamined.

Maiden Auger Drilling Campaign Reveals Significant Gold-in-Soil Anomalies

Starting in March 2026, Vita Resources initiated its maiden auger drilling campaign at Ninnis Gold, targeting 1,200 holes. This program was designed to infill earlier widely spaced gold-in-soil sampling conducted by the previous owner-operator and to focus on two sub-parallel fault zones identified as major structural controls on gold mineralisation, with closer drill spacing than historical efforts.

By the June 2026 quarter, results from the first 850 holes demonstrated encouraging outcomes, highlighting multiple gold-in-soil anomalies. In the northern sector, large anomalies extended 600 metres northwest, while in the southern sector, a consistent anomaly measured 500 metres north-south by 300 metres wide. These sizeable anomalies justify systematic follow-up exploration.

Drilling contractor GYRO Drilling had to demobilise before completing the full 1,200-hole program due to weather disruptions from Tropical Cyclone Narelle but plans to remobilise when conditions allow. Despite this, Vita Resources chose to expand the exploration scope rather than delay further assessment of the anomalies.

Auger Program Expansion Following Positive Maiden Drilling Results

Responding to the promising initial results, Vita Resources expanded its exploration program by adding approximately 300 infill holes to the remaining roughly 350 holes from the original 1,200-hole plan. This increases total planned auger and infill drilling to about 1,550 holes, significantly enhancing exploration intensity.

The infill drilling targets the two sub-parallel fault zones intersected during the maiden drilling, identified as major structural controls on mineralisation. Closer-spaced drilling along these faults aims to better define the geometry, continuity, and intensity of mineralisation. This targeted approach aligns with standard exploration practices where initial broad results refine subsequent drilling plans.

GYRO Drilling is scheduled to return to site to complete the remaining maiden holes and then commence the infill drilling. Completion of the entire drilling program is expected by the end of August 2026, reflecting an accelerated exploration pace driven by confidence in the project’s potential.

Two Sub-Parallel Fault Zones Confirmed as Key Mineralisation Controls

The maiden auger drilling successfully identified two sub-parallel fault zones acting as significant structural controls on mineralisation at Ninnis Gold. Fault zones often serve as conduits for mineralising fluids and sites for mineral deposition, making their identification critical. Intersecting these faults in the initial 850 holes confirms effective targeting of key geological features.

These structural controls provide a framework to interpret the spatial distribution of gold-in-soil anomalies in both northern and southern sectors. The company’s decision to conduct infill drilling along these faults reflects a hypothesis-driven strategy to better define their extent and mineralisation characteristics. The parallel faults may indicate a larger structural system with potential multiple mineralisation horizons or extensions at depth.

Corporate Capital Raise Supports Exploration Expansion

In the June 2026 quarter, Vita Resources secured firm commitments to raise $2.9 million from sophisticated and professional investors. The capital raise was structured in two tranches, with the first tranche completed by 30 June 2026. Details such as the issue price per share, total shares issued, and second tranche completion date were not disclosed.

This funding supports the expanded exploration program at Ninnis Gold and advances other projects across three jurisdictions. The timing of the raise aligns with positive maiden drilling results, indicating strengthened investor interest. The placement’s focus on institutional investors highlights the company’s preference for professional capital sources over retail investors.

Bonus Option Issue Granted to Shareholders

On 29 June 2026, Vita Resources completed a bonus option issue to shareholders, granting options exercisable at $0.056 with an expiry date of 29 June 2031. The issue ratio was one option per 15 ordinary shares held as of the record date, 22 June 2026. The total number of options issued and impact on fully diluted capital were not disclosed.

ICE Polymetallic Project in Yukon, Canada

Vita Resources’ ICE Polymetallic Project in Yukon Province, Canada, holds a JORC Code Mineral Resource Estimate (MRE) of 6.43 million tonnes at 1.07% copper. The 2012 JORC re-estimation, announced in June 2025, confirmed the original historical resource tonnage and grade. Indicated resources total 5.76 million tonnes at 1.09% copper, with inferred resources of 0.67 million tonnes at 0.83% copper at a 0.3% cut-off. Resource coverage is based on 115 drill holes, mostly less than 200 metres deep, with 92% classified as indicated.

Less than 1% of the ICE Project area has been explored, despite the sizeable resource. Eleven priority targets have been identified with potential for additional volcanogenic hosted massive sulphide (VHMS) mineralisation near the existing resource and across the property. In February 2026, the project was reclassified from copper-gold to polymetallic, adding cobalt, silver, and indium to the known copper and gold, reflecting an expanded understanding of its resource potential.

Diversified Portfolio Across Three Countries and Five Priority Projects

Vita Resources holds five priority projects across Western Australia, Canada, and Sweden, focusing strategically on gold, copper, and critical minerals. Gold assets include Ninnis Gold in Western Australia and ICE Polymetallic in Canada. Copper projects include ICE Polymetallic and the Harley and Mariner Copper Projects in Canada. The Gyttorp Rare Earth Elements (REE) and Copper Project in Sweden targets critical minerals, especially rare earth elements.

Recently, Vita Resources chose not to renew leases on its Chilean assets, including the Cometa Copper Project, to concentrate on core projects in Western Australia, Canada, and Sweden. This portfolio rationalisation reflects a strategic focus on the most prospective assets, balancing exposure across jurisdictions and commodities while optimizing capital allocation.

Exploration Strategy and Upcoming Milestones

Vita Resources’ exploration at Ninnis Gold follows a systematic, phased approach to delineate gold mineralisation in underexplored terrain. The initial 1,200-hole auger program aimed to infill previous wide-spaced soil sampling and test structural controls. The decision to add about 300 infill holes targeting fault zones demonstrates adaptive exploration, where early results guide subsequent work design.

Completion of the maiden drilling program by end August 2026 is a key near-term milestone. Post-completion, the company will evaluate data to plan follow-up activities, potentially including deeper drilling, geological mapping, sampling, and additional geophysics. The accelerated drilling pace and expanded program indicate management’s confidence in the project’s gold potential based on current results.