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Highlights:

  • FRS appointed David Geraghty as Chairman and Adam Turnbull as Non-Executive Director
  • FRS issued a 30 million option package to Adam Turnbull, subject to shareholder approval
  • Forrestania Resources continues to explore gold, copper, and lithium in Western Australia

Forrestania Resources Limited (ASX:FRS)  has announced changes to its board of directors, including the immediate appointment of David Geraghty as Chairman and Adam Turnbull as Non-Executive Director. These changes come as the company continues to advance its exploration portfolio across Western Australia.

David Geraghty, who joined the board in May 2025, steps into the role of Chairman with immediate effect. Geraghty brings over 30 years of experience in the mining sector, covering open cut and underground mining operations, mineral processing, and logistics. His career spans a wide range of commodities including gold, iron ore, mineral sands, tin, manganese, and lithium. He is a qualified metallurgical engineer and has held senior operational and executive roles across multiple projects and companies in the Australian mining industry.

Joining the board alongside Geraghty is Adam Turnbull, who has been appointed as a Non-Executive Director. Based in Sydney, Turnbull has more than two decades of leadership experience across infrastructure, mineral resources, luxury goods, and capital markets. He has led several private businesses and overseen the delivery of high-value projects, particularly within Australia’s construction and development sectors.

As part of his board appointment, Turnbull has been offered an option package subject to shareholder approval at the company’s upcoming General Meeting. The package comprises a total of 30 million options with a three-year expiry, divided into three tranches:

  • 10 million options exercisable at AUD 0.15,
  • 10 million options exercisable at AUD 0.25
  • 10 million options exercisable at AUD 0.50.

These changes coincide with the resignation of former Chairman John Hannaford, who stepped down from the board to pursue other interests. In a statement, current Chairman David Geraghty welcomed Turnbull’s appointment and acknowledged Hannaford’s contributions to the company. Turnbull commented on his appointment, stating his intent to support the board and management team in advancing the company’s exploration activities and assessing opportunities across its existing portfolio.

Forrestania Resources Limited is an Australian-listed exploration company focused on gold, copper, and lithium. Its projects are located within the Eastern Goldfields, Forrestania, and Southern Cross regions of Western Australia. The company's tenement package includes eleven granted Exploration Licences and four Exploration Licence Applications, spanning approximately 1,000 square kilometres. The tenements are largely non-contiguous and distributed over a 300km stretch, largely aligned with the Norseman-Wiluna Greenstone Belt of the Yilgarn Craton.

The Forrestania Project, one of the company’s key assets, hosts gold and lithium prospects near several established operations, including the 1 million ounce Bounty gold deposit, Covalent’s Mt Holland Lithium Mine, and IGO’s Flying Fox and Spotted Quoll nickel mines. The Southern Cross Project lies within the Southern Cross Greenstone Belt and is considered to have potential for gold mineralisation. These board changes come at a time when Forrestania Resources is continuing to assess and advance its exploration programs across its project areas.

FRS trading at 25.00% higher at AUD 0.15 per share as on 24 July 2025.