Corporate Update – Strata Minerals Limited

Strata Minerals Limited has reported the completion of its first JORC 2012‑compliant Mineral Resource Estimate (MRE) for the 100 % owned Zelica Gold Project. The estimate, derived from reverse‑circulation drilling conducted in November 2025 and March 2026, positions the resource at approximately 0.6 % gold within an open‑pit block model optimised for an assumed gold price of A$5,500 per ounce.

Resource Classification and Confidence

  • Indicated Resource: Roughly two‑thirds of the total resource falls under the Indicated classification, providing a higher confidence level than many assets at the exploration stage.
  • Inferred Resource: The remaining one‑third is classified as Inferred, reflecting a lower degree of geologic assurance.

This split suggests that, while further drilling is required to upgrade Inferred portions, the project already possesses a substantive basis for future development decisions.

Geologic Context

The resource is situated within a 9.5 km gold corridor that has historically been under‑explored. The current block model incorporates high‑grade zones at the base of the existing pit and is open to additional extensions both in depth and laterally. The inclusion of these high‑grade zones enhances the project’s potential economic value and underscores the strategic advantage of a more comprehensive exploration program.

Economic Modelling

  • Cut‑off Grade: The MRE was modelled using a 0.5 g/t cut‑off grade.
  • Recovery Estimates: Metallurgical testing from earlier work indicates that gold recovery from oxide and transitional zones can exceed 90 %. The block model incorporates a similar 90 % recovery rate.
  • Cost Assumptions: The optimised pit shell is based on industry‑standard assumptions for mining, processing, and haulage. These assumptions align with prevailing cost benchmarks for comparable open‑pit operations in the region.

The combination of a favourable cut‑off grade, high recovery, and realistic cost parameters supports the viability of a potential open‑pit operation at the current gold price.

Strategic Partnerships

The project sits on a granted mining lease and benefits from a Mining Services and Profit Share Agreement with BML Ventures. Under this arrangement:

  • BML will fund pre‑development, development, and mining activities on a non‑recourse basis.
  • Both parties will share profits from any future production.

This partnership structure mitigates Strata’s capital exposure and aligns incentives for efficient project execution.

Future Development Pathway

Strata has outlined several key next steps:

  1. Resource Expansion: Additional drilling is planned to increase the resource size, improve the understanding of mineralisation continuity, and enable further upgrades from Inferred to Indicated.
  2. Technical Studies: Comprehensive mine planning, metallurgical testing, and feasibility studies will be conducted to refine operational parameters and assess the full economic potential.
  3. Permitting and Environmental Approvals: The company will pursue the necessary regulatory clearances to advance the project toward production.

By pursuing these actions, Strata aims to progress the Zelica Gold Project from a high‑confidence resource estimate toward a commercially viable operation.

The information provided above reflects the most recent corporate disclosure from Strata Minerals Limited. It is intended for informational purposes and does not constitute investment advice.