Highlights

  • Forrestania Resources has completed the Acquisition of Hyden Project Holdings Pty Ltd, initially announced in August 2025.
  • The Hyden Gold Project hosts a JORC-compliant mineral resource of 6.95 million tonnes at 1.33g/t gold for 297,500 ounces.
  • Forrestania’s total global mineral resource has increased to 23.08 million tonnes at 1.22g/t gold for 907,000 ounces.
  • Lady Magdalene hosts 237,400 ounces of gold, while Lady Ada contains 60,100 ounces.

Forrestania Resources (ASX:FRS) has completed the acquisition of Hyden Project Holdings Pty Ltd, finalising a transaction that adds the Lady Magdalene and Lady Ada gold projects to the company’s Western Australian portfolio. The acquisition, originally announced in August 2025, includes multiple granted tenements and introduces an additional JORC-compliant gold resource to Forrestania’s growing regional asset base.

The completion of the transaction further expands Forrestania’s presence within the Forrestania greenstone belt and lifts the company’s total global gold mineral resource inventory to 907,000 ounces.

Shares of Forrestania Resources traded at AUD 0.46 during the afternoon session on 12 May 2026, down 3.16% for the day. Despite the decline, the stock remains up approximately 1050% over the past year, reflecting continued investor attention on the company’s expanding gold portfolio and resource growth strategy across Western Australia.

Forrestania Resources is an Australian gold exploration and development company focused on advancing projects across the Forrestania, Southern Cross and Eastern Goldfields regions of Western Australia. The company has been pursuing a strategy centred on expanding mineral resources through exploration activity, project acquisitions and regional consolidation initiatives.

Hyden Acquisition Expands Resource Inventory

The newly acquired Hyden Gold Project contains a JORC-compliant mineral resource estimate of 6.95 million tonnes grading 1.33 grams per tonne gold for approximately 297,500 ounces of contained gold.

The acquisition comprises the Lady Magdalene and Lady Ada deposits, both located within the northern section of the Forrestania greenstone belt.

According to the company, Lady Magdalene contains a mineral resource estimate of 5.6 million tonnes at 1.32g/t gold for 237,400 ounces, while Lady Ada hosts 1.35 million tonnes at 1.39g/t gold for 60,100 ounces.

Management described the transaction as an important step in consolidating Forrestania’s position within its regional operating hub.

The acquisition also includes several granted tenements, including Mining, exploration and prospecting licences associated with the Hyden Project.

Forrestania stated that all conditions precedent tied to the binding heads of agreement have now been satisfied, formally completing the transaction.

Total Gold Resource Grows to 907,000 Ounces

Following completion of the Hyden acquisition, Forrestania’s total JORC-compliant mineral resource inventory now stands at 23.082 million tonnes at an average grade of 1.22g/t gold for 907,000 ounces.

The updated global resource includes Assets across multiple projects within the company’s Western Australian portfolio.

The resource base consists of:

  • Measured resources of 540,000 tonnes at 0.99g/t gold for 17,500 ounces.
  • Indicated resources of 4.083 million tonnes at 1.29g/t gold for 184,000 ounces.
  • Inferred resources of 18.459 million tonnes at 1.35g/t gold for 705,500 ounces.

The addition of the Hyden resource further increases the scale of Forrestania’s gold inventory within established mining regions.

Among the company’s broader resource portfolio are projects including Karonie, North IronCap, British Hill, Johnson Range, Burracoppin, Tyco and Lady Lila.

Karonie currently represents one of Forrestania’s larger resource areas with an inferred resource estimate of 6.502 million tonnes at 0.9g/t gold for 185,700 ounces.

North IronCap contributes a further 106,000 ounces, while Johnson Range hosts more than 100,000 ounces across indicated and inferred categories.

Lady Ada Mining History Provides Additional Context

The company also outlined historical mining activity associated with the Lady Ada deposit.

Mining at the Lady Ada open pit, also known as the Blue Haze pit, commenced in December 2002 and concluded in May 2003.

Historical production from the operation totalled approximately 95,865 tonnes at 8.81g/t gold for 27,154 ounces recovered through open pit mining to depths of around 60 metres.

In contrast, no historical mining has been undertaken at Lady Magdalene, which is located less than 100 metres north of Lady Ada mineralisation and roughly 300 metres north of the existing Lady Ada pit.

The proximity of the two deposits forms part of the broader Hyden Gold Project area.

Strategic Importance Within the Forrestania Hub

Management indicated that the acquisition aligns with the company’s strategy of strengthening its Forrestania operating hub.

Executive Chairman David Geraghty stated that the transaction adds a significant mineral resource base located close to the company’s Lake Johnston processing Facility.

The company believes the project offers both an established resource and further exploration potential within a known gold-producing district.

The Forrestania greenstone belt forms part of the broader Southern Cross geological region in Western Australia, an area historically associated with multiple gold discoveries and mining operations.

The Hyden deposits are situated approximately 120 kilometres south of Southern Cross and roughly 17 kilometres southwest of the historic Bounty Mine site.

The geological setting forms part of a 300-kilometre-long supracrustal belt bounded by Archaean granitoid and gneiss formations and intersected by Proterozoic doleritic dykes.

Forrestania stated that the acquisition supports its longer-term strategy of progressing development opportunities through regional consolidation and resource expansion.

Broader Western Australian Growth Strategy

Beyond the Hyden acquisition, Forrestania continues building a portfolio of gold and base metal assets across Western Australia’s established mining districts.

The company’s activities span the Forrestania, Coolgardie, Menzies and Southern Cross regions, where it has been advancing exploration and development programs.

Management has previously highlighted a focus on identifying and expanding gold resources capable of supporting future development pathways.

The company also emphasised the strategic importance of infrastructure access and proximity to existing processing facilities within its regional hub model.

The Forrestania Project itself sits adjacent to the historic Bounty gold mine, which historically produced approximately one million ounces of gold.

According to the company, this broader regional setting continues to provide geological prospectivity and exploration potential.

Supreme Court Development Referenced

The announcement also referenced a recent legal development involving Hyden Project Holdings Pty Ltd.

Forrestania noted that the Supreme Court of Western Australia had refused an application by Classic Minerals Limited for summary judgment against Hyden Project Holdings in relation to a 2024 dispute concerning the tenements.

The company had previously disclosed the matter to the market on 7 May 2026.

What This Means for Investors

The completion of the Hyden Gold Project acquisition materially increases Forrestania Resources’ gold inventory and strengthens its exposure to the Forrestania greenstone belt in Western Australia.

The transaction adds nearly 300,000 ounces of gold resources through the Lady Magdalene and Lady Ada projects while lifting the company’s total resource base to 907,000 ounces.

Investors are likely to monitor how Forrestania advances exploration and development activities across the expanded portfolio, particularly in relation to potential future production pathways linked to the Lake Johnston processing facility.

The acquisition also reinforces the company’s broader regional consolidation strategy as it continues building scale across multiple Western Australian gold districts.