Highlights

  • High-grade shallow gold intercepts at Muralgarra within the Golden Range Gold Project
  • Golden Range resource expanding through systematic step-out and infill drilling campaigns
  • Shallow mineralisation amenable to open pit extraction reduces development capital requirements
  • Western Australian Murchison region provides established exploration and development infrastructure

Warriedar Mining Limited (ASX:WMG), trading at A$0.155 as at 30 October 2026, is a Western Australian gold explorer and developer advancing the Golden Range Gold Project in the Murchison region, with systematic drilling at the Muralgarra deposit delivering high-grade shallow gold intercepts that continue to expand the known mineralisation and support the development of a growing resource estimate amenable to low-cost open pit mining.

Muralgarra: Shallow High-Grade Gold System

The Muralgarra deposit is the primary resource development target within Warriedar Mining's Golden Range Gold Project. Drilling at Muralgarra has consistently returned high-grade gold intercepts at shallow depths within weathered and fresh rock, with the mineralisation occurring in a structural zone that is geometrically amenable to open pit mining. Shallow, high-grade gold deposits that can be exploited by open pit methods are among the most economically attractive in the ASX junior gold exploration sector, as the combination of high grade and low strip ratio waste removal costs produces strong project economics at a range of gold price assumptions. Warriedar's Muralgarra results have confirmed a high-grade zone of mineralisation that remains open along strike and at depth, with step-out drilling progressively extending the known footprint of the gold system.

Golden Range Resource Development

The Golden Range Gold Project encompasses Muralgarra and additional exploration prospects within the Warriedar tenement package in the Murchison region. Warriedar has been conducting resource definition drilling at Muralgarra alongside exploration drilling testing new targets across Golden Range, with the aim of both growing the defined resource at the primary deposit and identifying additional mineralised zones that could contribute to a broader development scenario. The Company's resource development strategy involves systematic infill drilling to improve resource confidence classification within defined mineralisation, combined with step-out drilling to extend the resource boundaries. Resource estimate updates have reflected the positive trend of ongoing drilling results.

Murchison Region: Proven Gold Province

The Murchison region of Western Australia is a well-established gold mining and exploration district with a long history of gold production from multiple operating and historical mines. The region is serviced by established infrastructure including roads, power, and experienced mining contractors, and hosts several operating gold mines including Evolution Mining's Mt Gibson, Westgold Resources' Murchison operations, and other producers. The geological understanding of the Murchison region is well developed, providing a strong framework for exploration targeting. Warriedar's Golden Range project sits within this proven gold province, benefiting from the infrastructure and geological knowledge base that comes with an established mining district.

Development Pathway and Economic Context

Warriedar is at an advanced exploration and resource definition stage that precedes the completion of technical studies – scoping study, pre-feasibility study – required to determine the optimal development scenario and capital requirements for the Golden Range project. The highly favourable Australian dollar gold price environment, with AUD gold prices sustained above A$4,500 per ounce through 2025 and 2026, significantly enhances the economic attractiveness of open pit gold projects in Western Australia and provides a supportive backdrop for advancing Golden Range through technical studies toward development decision-making.