Surefire Resources (ASX:SRN) — FY26 Annual Report Highlights Progress at Victory Bore and Loot Gold Discovery

Sonal Goyal

30 September 2026 06:22 PM AEST

Surefire Resources (ASX:SRN) — FY26 Annual Report Highlights Progress at Victory Bore and Loot Gold Discovery

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Surefire Resources Limited (ASX:SRN), an ASX-listed explorer with gold, critical minerals, and iron ore projects in Western Australia, released its Annual Report for the year ended 30 June 2026. The company described FY2026 as a year of significant progress and transformation, highlighted by advances at the Victory Bore Vanadium-Titanium-Iron Project through permitting and the discovery of the Loot Prospect at the Yidby Gold Project, which returned surface gold grades of up to 13.19 g/t Au.

About Surefire Resources

Surefire Resources Limited (ASX:SRN, ABN 48 083 274 024) is a Western Australian mineral explorer holding a portfolio of gold, critical minerals, and iron ore projects. The company's flagship asset is the Victory Bore Vanadium-Titanium-Iron Project, which is advancing through the Mining Lease application process. The Yidby Gold Project has emerged as an important exploration opportunity following the discovery of the Loot Prospect. Surefire also holds the Perenjori Iron Project and the Kadji Gold Project. The company is led by Executive Chairman Vladimir Nikolaenko.

FY2026 Annual Report — Key Developments

At the Victory Bore Project, the company made significant progress in relation to the Mining Lease application process during FY2026, following extensive engagement with Stakeholders and regulatory authorities. The Victory Bore Vanadium-Titanium-Iron Project remains the company's flagship focus, with permitting and commercial advancement continuing throughout the year. The adjacent Unaly Hill Critical Minerals Project was also advanced during the period.

The Yidby Gold Project emerged as a key driver of exploration success during the year. The highlight was the discovery and advancement of the Loot Prospect, located within the broader Yidby Project area. Surface sampling programs returned gold assay results of up to 13.19 g/t Au, establishing a mineralised trend extending for at least 200 metres. Geological reviews and geophysical interpretation enhanced understanding of gold mineralisation controls across the project area and generated additional exploration targets. The gold sector context was described as attractive given historically elevated gold prices.

Surefire also continued evaluation efforts at the Perenjori Iron Project and the Kadji Gold Project, reviewing historical datasets and metallurgical information to identify opportunities within the broader portfolio. Despite ongoing challenges for junior resource companies in accessing capital, the Board maintained a focus on disciplined expenditure and value-driven exploration.

Industry Context

The vanadium market has attracted renewed investor interest as a key component in vanadium redox flow batteries, which are being deployed in stationary energy storage applications alongside the renewable energy transition. Australia holds globally significant vanadium resources, and the Western Australian Pilbara and Yilgarn regions have been the focus of several vanadium development projects. Gold exploration in Western Australia has continued to attract attention given the elevated gold price environment. The Yidby district's geological setting and the Loot Prospect discovery reinforce the prospectivity of Surefire's gold portfolio.

Risks and Uncertainties

Surefire Resources faces the challenges common to early-stage explorers: limited Revenue generation, reliance on Capital markets for working capital, and the risk that permitting or regulatory processes at Victory Bore take longer than anticipated. The Mining Lease application at Victory Bore remains in progress, and the outcome and timing of the approval process are subject to regulatory discretion. The Loot Prospect results are surface geochemical data and have not been confirmed by drilling. Junior resource companies continue to face challenging capital raising conditions.

Disclaimer: Surefire Resources Limited (ASX:SRN) is a client of Kalkine Media Pty Ltd (Kalkine Media), an affiliate of Kalkine. However, under no circumstances have Kalkine or its related entities been, directly or indirectly influenced in making any recommendation concerning Company as contained in this article, and no form of compensation is or will be received by Kalkine, Kalkine Media or Kalkine’s other related entities for the publication of this article.

FAQs

Q: What is the Victory Bore Project?

A: The Victory Bore Vanadium-Titanium-Iron Project is Surefire Resources' flagship asset in Western Australia, currently advancing through the Mining Lease application and permitting process.

Q: What was the Loot Prospect discovery at Yidby?

A: Surface sampling at the Loot Prospect within the Yidby Gold Project returned gold grades of up to 13.19 g/t Au, establishing a mineralised trend of at least 200 metres.

Q: Did Surefire Resources declare a dividend for FY2026?

A: No dividend was declared. The company is at the exploration and permitting stage and does not generate revenue from production.

Q: What other projects does Surefire hold?

A: In addition to Victory Bore and Yidby, Surefire holds the Perenjori Iron Project and the Kadji Gold Project in Western Australia.

Q: What is Surefire Resources' ASX ticker?

A: Surefire Resources Limited trades on the Australian Securities Exchange under the ticker SRN.

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