2025 AGM Managing Director's Address
Released
Released
Announcement PDF
ASX : AKA B R I N G I N G V I C T O R I A ' S G O L D T O L I F E 1
25 NOVEMBER 2025
A S X A N N O U N C E M E N T
2025 ANNUAL GENERAL MEETING
MANAGING DIRECTOR LETTER TO SHAREHOLDERS &
PRESENTATION
Aureka Limited (ASX: AKA) (Aureka or the Company) advises in accordance with ASX Listing Rule 3.13.3,
a copy of the by Managing Director, James Gurry and slides to be presented at today’s Annual General
Meeting are attached.
-End-
The Company’s new website can be accessed at www.aureka.com.au
This announcement has been approved for release by the Board of Directors.
For further information, please visit www.aureka.com.au, or contact:
James.Gurry@aureka.com.au
Ph: (03) 9692 7222
ASX : AKA B R I N G I N G V I C T O R I A ' S G O L D T O L I F E 2
25 NOVEMBER 2025
Managing Director’s 2025 End of Year Letter to Shareholders
Dear Shareholders,
It is now 12 months since Aureka began trading on the ASX and it is my pleasure to welcome you to the
Annual General Meeting for financial year FY25. It has been a year of steady progress, disciplined
execution and significant geological success.
New Beginnings
We embarked on this new chapter with a clear vision: to build a robust and dynamic advanced stage gold
exploration company here in the goldfields of Victoria.
We have not wasted a day in ramping up our business and advancing our most promising projects while
putting in place a first-class team after the recapitalisation, re-list and rebranding.
The Aureka name embodies our passion for discovery and also echoes the rich heritage of Victoria’s
goldfields. It has been great to be crying out Aureka! with our most recent drilling results.
It has been a busy FY25, let me recap some of our milestones:
Firstly, strengthening the team:
• In January Mr Graeme Hunt was appointed Non-Executive Chairman bringing his vast experience
including that as Lihir Gold Managing Director and former President of BHP Iron Ore,
• In May Jozef Story as appointed Exploration Manager joining us from Barrick Gold.
Jozef’s appointment marked a move away from the external consultants that helped us get up and
running - to a steady permanent geology team that is working every day out in the field on our continuous
exploration program.
Project Progress
Our Projects have advanced significantly during the year.
In the first week of January we began our drilling campaign at the Irvine Project in the Stawell Corridor,
followed by drilling at the Tandarra JV in February/March.
And in April we sourced a second diamond drill rig to begin the 7-hole program at St Arnaud Comstock
Project.
The diamond drill rig continues to operate today on the margins of the Irvine Gold Project’s JORC
Resource area.
We promised a 7,000 metre continuous diamond drilling campaign this year and I am pleased to say we
have already drilled over 7,500 metres with a number of weeks to go until year end.
In early May we confirmed gold mineralisation on the previously untested western flank of Irvine Basalt
at our flagship project1
. This is significant given all previously known mineralisation is on the eastern flank
and we look forward to following up this new target area in due course.
1
ASX release - Western Flank Discovery Expands Irvine Project, 14 May 25
ASX : AKA B R I N G I N G V I C T O R I A ' S G O L D T O L I F E 3
25 NOVEMBER 2025
In late May we delivered a substantial 19% increase in our global JORC Resources to over 360koz when
we declared the maiden Resource at St Arnaud Comstock of 56.5koz at 1.21g/t and an exploration target
around this of 114k to 116k ounces of gold1
.
In early July we reported results for Irvine and Tandarra drilling campaigns where we intersected
mineralisation in all but one hole across both programs2
.
In late July we reported our first higher grade results which were from St Arnaud Comstock diamond
drilling with a couple of intercepts near 1m in width at 19g/t (NED001)3
.
In mid-October we had our most impactful drilling results when we reported visible gold across three
separate holes at the Irvine diamond drilling campaign4
.
This was quickly followed up with results of the prioritised assays that delivered some of the highest ever
gram metre results seen on the Irvine Project since discovery in 2017. The reported assays including 10m
at 12g/t at the newly named Tenacity Hanging Wall fault zone included a subsection of 183g/t and 64.3g/t
both of 0.3m in width and we are seeing these bonanza grades at relatively shallow depths of 413
metres5
.
Late in October we reported visible gold from the St Arnaud Comstock project where drilling was
completed at the end of September6
.
This was followed again by significant assay results just recently released to the market including the 1m
at 65.4g/t in NED002 and some notable intercepts of decent width in holes NED003 and NED0057
.
So, while our most significant drill results have come later in the year, our programs now have a lot of
momentum as the diamond drill rig continues daily at the Irvine Project in the Stawell Corridor.
Strategic Portfolio Evolution
Elsewhere during the year, we evolved the portfolio of projects so that we are well positioned to focus
on our best opportunities and positioning them for long term commercial development:
In late March we followed in the footsteps of other successful Victorian explorers and mine developers
by announcing the early acquisition of freehold land around the flagship Irvine Project in the Stawell
Corridor8
. This is a significant step forward for Irvine and has already made a significant difference to:
1. our on-ground exploration strategy,
2. the respect we get from potential longer term strategic investors, and
3. Our interactions with the local community and regulatory stakeholders.
On 10th of November, we also announced the divestment of our interest in the Tandarra Gold Project
JV9
. The board took the decision to conduct a strategic review of our non-controlling interest in this
project and while we drilled it twice under our management, the project had not delivered on the drill
results for our shareholders.
1
ASX release - St Arnaud Maiden JORC MRE and Exploration Target – Amended 13 Jun 25
2
ASX release - Exploration Update - Irvine and Tandarra Drilling - 11 Jul 25
3
ASX release - Multiple high-grade gold intercepts at St Arnaud Comstock - 24 Jul 25
4
ASX release - Irvine Drilling Intercepts Across Three Diamond Drill Holes - 14 Oct 25
5
ASX release - Irvine Drilling Highest Assay Since Discovery - 15 Oct 25
6
ASX release - St Arnaud drilling intercepts - 29 Oct 25
7
ASX release - St Arnaud Comstock High Grade Assays - 20 Nov 25
8
ASX release - Strategic Land Purchase at Irvine Project - 24 Mar 25
9
ASX release - Aureka divests Tandarra Interest for $1.3M - 10 Nov 25
ASX : AKA B R I N G I N G V I C T O R I A ' S G O L D T O L I F E 4
25 NOVEMBER 2025
The cash injection from the resulting settlement was an excellent outcome given the challenges in
conducting the third-party sale process, the cash requirements of this project or the near full dilution
that would have resulted had we not exited the way we chose to.
Focused Ahead
As we move forward, our strategy is acutely focused on our key assets that can deliver hundreds of
millions of market cap value for our shareholders:
The Irvine Project in the Stawell Corridor – our current 304koz Resource plus similar sized Exploration
Target, has the potential to be a million ounce project and is less than 20km from the 5moz Stawell Gold
Mine1
. We have cemented our position with permanent land access and the diamond drill rig continues
to follow up our recent record level drilling results. The Adventure lode, and Langi Logan targets remain
possible significant extensions to what we have at the Irvine Project already.
At St Arnaud Comstock, we are positioning this smaller project for possible nearer term production
potential given it is a previously mined site, and its enviable proximity to hungry gold processing mills
and the high-grade lodes possibly emerging from our recent drilling campaign make selective high grade
production a real possibility.
And the Jubilee Project, 20km from the 12moz Ballarat gold mine, is an exciting high grade potential
target that we look forward to drilling.
So, we are now well focused and ever more confident that our strategic approach, combined with our
dedicated team and high-potential projects, will deliver significant value to our shareholders. And I also
take this opportunity to thank not only our new shareholders who share our vision for Aureka, but also
those long-standing shareholders who will soon see the potential, that this Company is fully committed
to delivering.
We are excited about the future and look forward to sharing our successes with you.
Regards,
James Gurry
Managing Director
1
ASX Release 30 Mar 2021: Navarre Minerals - Maiden Mineral Resource for Stawell Corridor Gold Project
ASX:AKA
25 November 2025 aureka.com.au
Managing Director’s Address
ASX:AKA |
This presentation has been prepared by Aureka Limited (Aureka or the Company) – the Company was previously known as Navarre Minerals Limited. It contains general
information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This
presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would
be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the
presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer
or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information,
opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under
Australian law or under any other law. It has been prepared for information purposes only and is not a recommendation as to whether to invest in Aureka shares. The information
contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has
been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables
set out in this presentation are based on Aureka management estimates.
This presentation does not include all available information on Aureka, and any potential investor should also refer to Aureka’s Annual Reports and ASX releases and take
independent professional advice before considering investing in Aureka. For more information about Aureka Limited, visit the website at www.aureka.com.au.
No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this
presentation. To the maximum extent permitted by law, none of Aureka or its directors, or any of their employees or agents, nor any other person accepts any liability, including,
without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation
or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or
returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant
uncertainties and contingencies. Past performance is no guarantee of future performance.
This presentation may contain “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be
identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or
other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking
statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Aureka and any of its officers, employees, agents or
associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those
statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and Aureka assumes no obligation to update such information
Competent Person Statement
The Mineral Resources and Ore Reserves statements and the Exploration Target potential statement are based on and fairly represents, information and supporting
documentation prepared by the Competent Persons. The Mineral Resources, Exploration Targets and Ore Reserves statement has been approved by Mr Jozef Story, who is a
Member of the Australian Institute of Geoscientists (MAIG) (#10079). Mr. Story has sufficient experience that is relevant to the style of mineralisation and type of deposits under
consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves.” Mr. Story consents to the publishing of the information in this presentation in the form and context in which it appears.The
Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant announcement and that all material
assumptions and technical parameters underpinning the estimates in the relevant ASX announcement continue to apply and have not materially changed.
Forward
Looking
Statement
2
aureka.com.au
ASX:AKA |
Exploration Target
On 30 March, 2021, AKA (then trading as Navarre Minerals Limited ASX:NML) announced the maiden gold Exploration Target at its flagship 100%-owned Resolution and Adventure projects in Victoria, Australia. Notably, the
Exploration Target was constrained to the current drill footprint at Resolution and Adventure, as at the time these areas only contained sufficient drilling to determine continuity and infer grade ranges. Significant potential exists to
increase the size of the exploration target with additional drill results beyond the Exploration Target area. On 26 May 2025, Aureka (ASX.AKA), formerly Navarre Minerals, announced an updated Exploration Target total to include
for historic drilling at St Arnaud, yielding a maiden JORC resource and Exploration Target
The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration
will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.
Summary of Relevant Exploration Data, Methodology, and Assumptions
Previously engaged consultants had, in conjunction with Company personnel generated an estimate of the Exploration Target for the Resolution and Adventure prospects. These Exploration Targets represent the strike and
depth/plunge extensions to the Mineral Resources defined for both deposits. The results of this estimation are presented in Table 1 for the combined Exploration Targets. The Resolution and Adventure prospects are intersected by
a predominantly west dipping shear zone which broadly mimics the strike of the Irvine basalt dome. Gold occurs on or adjacent to the shear zone, typically on meta-basalt/meta-sediment contacts where the rheological contrast
provides an ideal locale for shearing and mineralisation. The attitude of the contacts also influences the shear geometry resulting in localised, high-grade gold shoots.
The Exploration Target was based on the interpretation of the following geology and mineralisation data that had been collated as part of the 2021 MRE statement:
▪ 42 structurally oriented diamond drillholes and169 aircore, drill holes for a total of 23,465 m at the Resolution prospect that have been drilled by Navarre Minerals (NML),
▪ 10 structurally oriented diamond drillholes and 195 aircore, drill holes for a total of 17,952 m at the Resolution prospect that have been drilled by Navarre Minerals (NML),
▪ 943 density measurements on mineralised diamond drill core, and the determined SG’s were applied to the appropriate lithological units involved with the Exploration Target,
▪ surface geological mapping, costean data and diamond core geological logging,
▪ detailed LiDAR imagery,
▪ geophysical datasets including detailed ground magnetic and 3D induced polarisation, and
▪ wireframing and modelling of the Resolution and Adventure mineralised bodies.
For the Resolution prospect, the Exploration Target has been estimated based on the strike continuity and down plunge continuity of the mineralisation defined by drilling and modelled as part of the Mineral Resources. The extent
of this strike and plunge continuity is considered to be consistent with that evident in the Magdala deposit analogue to the north of Resolution, as the mineralisation controls and style are consistent between the two deposits.
To determine the tonnage and grade ranges for the Resolution prospect Exploration Target, the existing Mineral Resources as defined at Resolution was used as the base case in combination with the geological understanding of
the mineralisation model for Resolution. The northern strike extents component of the Exploration Target has been based on the initial wide spaced shallow AC drilling that extends approximately 900 metres to the north of the
defined Resolution mineralisation. The Consultants determined that the potential for a repeat of the mineralisation defined in the upper parts of Resolution along strike is adequate for estimating an Exploration Target that is within
+/-20% of the Resolution open pit Mineral Resource. In addition, the strong southerly plunge controls evident with the deeper parts of the Resolution Mineral Resource have been used to guide the estimation of an Exploration
Target down this plunge direction at depth. This part of the Exploration Target has used the UG Mineral Resource defined at an MSO cut-off grade of 1.4 g/t Au as a base with a +/-20% range applied for the tonnage, grade and
ounces.
For the Adventure prospect, the Exploration Target has been estimated based on the wide spaced exploration drilling that has been completed to date. The mineralisation as defined by these drill results does not currently have
adequate confidence to be classified as a Mineral Resource. However, Mining Plus considers that the estimation of an Exploration Target is possible for the mineralised extents that have been modelled. The ranges for tonnage,
grade and ounces have been estimated using the Adventure block model results reported at a 1 g/t Au cut-off (Figure 10) for those estimated blocks remaining unclassified (that do not satisfy the criteria of an Inferred Mineral
Resource). A -20% and +30% range has then been applied to determine the ranges required for reporting an Exploration Target*. It is important to note that as these estimated blocks do not meet the requirements of a Mineral
Resource, there is increased likelihood of grade extrapolation, rather than interpolation, hence the application of suitable tonnage, grade and ounce ranges for the Adventure Prospect Exploration Target. The upper grade, tonnage
and ounces range of +30% has been based on the presence of two of the higher grade and thicker intercepts returned to date for Adventure being located at the base of the Exploration Target.
Exploration
Target
3
aureka.com.au
ASX:AKA |
Highly Attractive Valuation
• Previously peak ~$150m Market Cap on these assets in 2020
• Low EV = attractive EV per ounce of JORC
>360koz of JORC Resource and >400koz ETs
• Stawell Irvine: JORC Inferred (304koz @ 2.43g/t)
+ Exploration Target* (280-420koz @ 2-3g/t)
• St Arnaud Comstock: JORC Inferred (56koz @ 1.21g/t)
+ Exploration Target* (112-116koz @ 1.2-1.0g/t)**
Advanced Stage Gold Exploration Projects
• Existing discoveries and substantial projects
• Projects are proximate to operating mines
• Long term approach (e.g. permanent land access)
Clean Balance Sheet & Top Teir Team
• Top Tier Director and Executive team
• No debt and well funded for continuous drilling
• Backed by small Institutions and Ultra HNWs
Positioned for Growth: 2 Key Projects with JORC Resources
4
aureka.com.au
*The potential quality and grade of this exploration target is conceptual in nature, there is currently insufficient exploration completed to support a mineral resource of this size and it is
uncertain whether continued exploration will result in the estimation of a JORC resource. The exploration target has been prepared in accordance with the JORC Code (2012). A detailed basis
for this statement, including the completed exploration activity, has been provided on slide 3 of this presentation. ASX Release 30 Mar 2021: Navarre Minerals - Maiden Mineral Resource for
Stawell Corridor Gold Project
**ASX Release: St Arnaud Maiden JORC MRE and Exploration Target – Amended, 13 June 2025
ASX:AKA |
Capital Structure is Set Up for Success
aureka.com.au 5
BOARD OF DIRECTORS
Graeme Hunt Non-Executive Chairman
James Gurry Managing Director
Richard Taylor Non-Executive Director
Angela Lorrigan Non-Executive Director – Technical Director
AKAAAC Performance rights: 7,000,000 (various strike prices tied to share price performance: 15c,20c,25c) AKAAAD Broker Options: 3,000,000 (exp, 8-Nov-27,
strike $0.20). ZEPOS: 700,000 (exp. 30-Jun-27) for Directors: Richard Taylor & Angela Lorrigan, 321,429 (exp. 1-Jan-28) Non-Executive Director Graeme Hunt
Total: 11,021,429
$0.16
Share Price (18/11/25)
$20.5m
Market Cap
$17.5m
Enterprise Value
$2.94m
Cash at Bank 30 Sept 2025
128.1m
Shares in Issue
CAPITAL STRUCTURE
$0
No debt or convertibles
77.9%
5.3%
8.8%
8.0%
DUNKELD
PASTORAL
INSTITUTIONS
BOARD & KEY
MANAGEMENT
OTHER
SHARE REGISTER
1
▪ $1.7m Convertible Notes @ 0.7, accruing 15% p.a .
▪ All notes now converted to equity
2
▪ $6.5m (received bids of $9m) to fund 12-month exploration program
▪ $0.10 per share
3
▪ $3m Placement at 13c, a 5% premium to 15-day VWAP
▪ Funds secured land, additional work programs and WC
June 2024
October 2024
June 2025
ASX:AKA |
https://aureka.com.au/leadership/
Meet the Team
ASX:AKA |
Board & Key Management… Incentivised to Deliver
6
aureka.com.au
• BHP / Lihir Gold /
Newcrest
Broadspectrum /
• AGL Energy
• SensOre Mining Data
Tech
• Mineral Deposits /
PanAust / MMG
• Credit Suisse /
Deutsche Bank /
• Red Hawk Iron Ore
(RHK)
• Southern Cross /
recipient of
Tasmania’s
Twelvetrees Medal
for services to
exploration
Barrick Mining Corp
(NYSE:GOLD),
Fosterville Gold Mine,
Castlemaine Goldfields
ASX:AKA |
JORC Resource
& Exploration Target
aureka.com.au 7
Mineral Resource: Stawell Corridor Prospects & St Arnaud
Exploration Target*: Stawell Corridor Prospects & St Arnaud
The preceding statements of Mineral Resources conforms to the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012
Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to
rounding to appropriate significant figures.
*The potential quantity and grade of the Exploration Target is conceptual in nature and
there has been insufficient exploration to estimate a Mineral Resource in relation to this
Exploration Target. It is uncertain if further exploration will result in the estimation of a
Mineral Resource in relation to these Exploration Targets. A detailed basis for this
statement, including the completed exploration activity, has been provided on slide 3 of
this presentation
ASX Announcement - 30 March 2021& ASX Announcement – 26 May 2025
Stawell Corridor & St Arnaud
19% increase
in 2025
ASX:AKA |
Irvine Basalt Dome (Resolution & Adventure)
• Maiden Inferred Resource1 reported in March 2021
– 304koz at 2.4 g/t gold
• Resource hosted on east flank of basalt dome,
open down-dip and along strike.
Langi Logan Basalt Dome
• Large-scale basalt dome structure with 14.5km strike length
• Significant historical deep lead gold production in local areas
• Maiden diamond drilling program included2
• 0.5 metres at 19.8 (g/t) gold from within a broader zone of
2.4m at 5.8 g/t from 131.2 (LD002)
• 0.6 metres at 6.9 (g/t) from within a broader zone of
6.8 metres at 1.1 g/t gold from 48 metres (LD004)
S TA W E L L C O R R I D O R
G O L D P R O J E C T
8
aureka.com.au
1 ASX Announcement - 30 March 2021
2 ASX Announcement - 21 March 2022
ASX:AKA |
ASX:AKA |
Irvine Project – Next to world class sized deposits
9
aureka.com.au
JORC Resource and Exploration target refer ASX release - 30 March 2021
ASX:AKA |
ASX:AKA |
aureka.com.au
ASX:AKA |
Stawell Corridor – Irvine Project – Extension Drilling
10
Irvine Project (Stawell) – HIGHEST INDIVIDUAL ASSAY SINCE DISCOVERY IN 2017
VG within RD048: 0.3m @183g/t Au from 413m
Refer: ASX release - Irvine Drilling Highest
Assay Since Discovery - 15 Oct 25
ASX:AKA |
Comstock Pit
• Maiden inferred JORC Resource1 reported 26 May 2025: 57Koz
@1.21g/t and Exploration Target2: 112-116Koz @1.2-1.0g/t
• Historic underground mining during the gold rush (1855-1913), more
recently open pit mining in 1990’s (Comstock – Nelson Line)
• Aureka’s St Arnaud Gold Project comprises 819km2 of granted
tenements, including the historical 0.4M St Arnaud Goldfield, where
high-grade gold was mined from quartz lodes in a structural setting
consistent with most gold deposits in central Victoria, including Bendigo
and Fosterville.
• Aureka’s first pass drilling confirmed several continuous lines of gold
mineralisation, extending north under cover3
• Maiden diamond drilling program completed in 2022 intersecting high-
grade gold adjacent to historic production on Nelson and New Bendigo
lines
• Previous 1m @ 1,174 g/t Au (2008) at New Bendigo4 demonstrates the
potential for high grade mineralisation
• Regional reconnaissance soils program to detect new areas of potential
mineralisation beneath Murray Basin cover
S T A R N A U D
G O L D F I E L D
11
aureka.com.au
1,2: ASX Announcement 26 May 2025
3 ASX Announcement - 30 July 2018 & 26 March 2021
4 RXM ASX Announcements - 15 & 16 April 2008
ASX:AKA |
St Arnaud, Comstock - Multiple Intercepts of Visible Gold
aureka.com.au 12
Figures 1 & 2. Comstock visible gold 25NED002 intercepts: Refer AKA ASX release 29 October 2025.
Figure 3 (RHS): Comstock long section (NED002, 003 and 005 in green callouts). Refer ASX - 20 Nov 2025 - St Arnaud Comstock High Grade Assays
B’
B
ASX:AKA |
2025 Highlights
aureka.com.au 13
Date Announcement Highlights
✓ 20-Dec-24 Graeme Hunt Non-executive Chair
Aureka appointed former Lihir Gold Managing Director, Mr Graeme Hunt as Non-Executive Chair effective from 1
January 2025. Mr Hunt is an internationally accomplished company leader whose extensive gold industry and
relevant other experience
✓ 7-Jan-25 Drilling Irvine
Diamond drilling commenced at the Resolution Lode in January 2025, testing down-plunge extensions to grow the
existing 304Koz resource with early sulphide mineralization identified
✓ 7-Feb-25 Drilling Tandarra JV
Commencement of a six-hole diamond drilling program at the Lawry zone. The objective of this program was to
increase the already substantial footprint of identified mineralisation
✓ 24-Mar-25 Permanent land access Irvine
The Company acquired 97 hectares surrounding the Irvine Project to support future infrastructure and provide
long term operational access for $2.2m, having been formally assessed as within market ranges by JLL and Risk
Advisory
✓ 10-Apr-25 Drilling St Arnaud
A diamond drilling program consisting of 4 holes for a total 1,400m is proposed along strike and adjacent to the
old Comstock Open Pit within the St Arnaud regional park.
✓ 14-May-25 Western flank discovery - Irvine
Confirmation of gold mineralisation on the Western flank of the Irvine Basalt at the Resolution lode has opened
the potential for an entirely new area of gold prospectivity, untested and not previously known to the Company.
✓ 9-May-25 Jozef Story (ex-Barrick) Exploration Manager
Aureka appoint world class Exploration Manager, Jozef Story, strengthening the geological and technical team. Mr
Story is an esteemed Exploration Manager, recently completing 4 years in the role with Barrick Mining Corp,
managing their +5000km2, exploration portfolio
✓ 26-May-25 Global JORC +19% / Maiden JORC – St Arnaud
Maiden JORC resource increases Aureka’s global gold inventory and Exploration Target Range. St Arnaud Comstock
Mineral Resource Estimate 1.45Mt at 1.2g/t Au for 56,500 oz gold within historically mined open pit
✓ 12-Jun-25 Share Placement at premium
$3m share Placement at a 5% premium to the 15-day VWAP. Placement enables continuous exploration program
and long-term derisking activities (permanent land access)
✓ 12-Jun-25 Assay results confirm fertile ET – Irvine Assay results from resolution confirm mineralisation down plunge of inferred mineral resource
ASX:AKA |
2025 Highlights
aureka.com.au 14
Date Announcement Highlights
✓ 11 July 2025 Irvine & Tandarra drill results
Irvine (Stawell) drilling confirms 220m dow
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