Gold Plans at Darlot West and Crofton Projects, WA

Cloudbreak Discovery PLC

20 March 2026

 

20 March 2026

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

Gold Plans at Darlot West and Crofton Projects, WA

Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market listed company, is pleased to provide an update on its planned gold exploration programs across the Company's Crofton and Darlot West projects in Western Australia.

Darlot West Gold Project

Planning is underway for an initial 3,000 - 5,000m drilling program, designed to test key structural targets identified in the recent geophysical interpretation and surface exploration programs. A Program of Work (POW) application has been submitted to the WA Department of Mines, Petroleum and Exploration (DMPE), with the POW expected to be granted in the coming weeks. The Company believes there is very significant potential for this project to host significant gold mineralisation similar to that found at the Darlot Gold Mine (Vault Minerals ASX:VAU), located only 10km to the northeast and Northern Star's ( ASX:NST) Thunderbox Gold Mine 20km to the southeast.  (Figure 1).

At the Darlot Gold Mine, the bulk of mineralisation is hosted within faulting of the south-eastern limb of the folded Mt Pickering Dolerite¹. Distinct similarities have been interpreted between the geological setting of Cloudbreak's Darlot West Project and the area hosting the Darlot Gold Mine, specifically the presence of folded, magnetic mafic stratigraphy (analogous to the Mt Pickering Dolerite), displaying significant fault off-sets along east-north-east and north-west structures. Areas where fold hinges are intersected by these faults, and/or coincide with favourable host units such as the magnetic dolerites, are priority exploration targets and will be the primary focus of the upcoming drill program (Figure 2). Evidence of mineralisation proximal to these targets are the numerous shallow historical gold workings where sampling carried out by the Company returned assays of up to 65.75 g/t Au (reported on 24^th October 2025). Historical drilling in these areas is considered by the Company to have been too shallow and largely ineffective. Two potential porphyry targets have also been identified on the property and require further work.

Company geologists will shortly be on the ground conducting field work to assess potential targets associated with historical gold workings and specifically to determine sites for RC drilling. Further rock chip sampling and mapping work is also planned over the next month to collect further geochemical and structural data in preparation for the upcoming drill program.

In addition to the above geophysical targeting work, the Company has recently completed Ultra-Fine^ fraction (UFF) soil sampling over areas of known mineralisation on the Project, in conjunction with regolith mapping using Sentinel-2 satellite data over the entire project. UFF is a highly sensitive method which is considered favourable for use in areas of transported cover and/or complex regolith environments where conventional soil geochemistry is less effective.

A prospect-scale UFF survey has been completed in proximity to and along strike from recent high-grade rock chip results, where eleven samples assayed over 10 g/t Au and up to 65.75 g/t Au, with the aim of delineating areas where mineralised structures extend under cover. Results from this program are expected in 2-3 weeks, with follow-up surveys across the wider project to commence once these results have been received.

Crofton

The Crofton Project covers an area of approximately 20km² of laterally extensive quartz veining within the Yilgalong granite. Quartz veins are commonly 10's of metres wide and can be seen to extend along strike for 100's to 1,000's of metres. A total of 54 samples were taken by Cloudbreak geologists (released 19 January 2026) around locations of previously reported gold results and along strike.

Initial sampling work was focused on areas of historically reported gold mineralisation where grades of up to 253 g/t Au have been historically reported. This work confirmed historical grades, with 15 samples >1 g/t and up to 162.25 g/t Au.

Planning for more extensive surface geochemical programs is underway and will commence after the wet season finishes in April. This work will consist of geological mapping and rock chip sampling of historical >25 ppb Au soil anomalies (Figure 3), in conjunction with an extensive soil sampling program over an area of approximately 10km². The aim of this work is to generate further targets on the project and understand the extent of the mineralised system at Crofton, before target ranking and drill program planning later in the year. Heritage surveys are expected to commence soon in preparation for this work.

Tom Evans, Cloudbreak's MD, commented; "The focus of our gold exploration plans for 2026 is on disciplined execution and delivering tangible results.  While broader market conditions remain uncertain, we are advancing our projects in a measured and strategic way ensuring we are well positioned to create value regardless of external volatility.

At Darlot West, we are approaching drill readiness and progressing through final approvals, with high-quality targets already identified.  Following approval of our Program of Works, we expect to commence drilling and generate a strong flow of results during 2026.  The presence of two nearby processing options provides a clear and capital efficient pathway to monetisation in the event of a successful outcome.

 At Crofton, our upcoming work is designed to define a pipeline of drill ready gold targets to support our second half of 2026 drilling campaign that will underpin our second half of 2026 drilling programme.  Together, these projects provide a balance of both near term catalysts and longer term potential.

We remain confident in the strength of our portfolio and are committed to delivering consistent, meaningful progress for shareholders throughout 2026.  The Company is fully funded for all planned exploration activities."

Figure 1: Location of 60.6km² Darlot West Gold Project, Western Australia - 10km from 2.8Moz Darlot Gold Mine and 20km from Thunderbox Gold Mine operated by Northern Star Limited.

Figure 2: Geological and structural interpretation based on high resolution magnetics, with multiple targets identified.

Figure 3: Crofton Project rock chip and soils results, with planned soil survey outline.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

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For Further Information, please contact:

Cloudbreak Discovery PLC	Peter Huljich, Chairman Tom Evans, Managing Director	Tel: [phone] Tel: [phone]
AlbR Capital Limited (Financial Adviser)	David Coffman / Dan Harris	Tel: [phone]
Marex Financial (Broker)	Angelo Sofocleous / Matt Bailey	Tel: [phone] Email: [e-mail]

About Cloudbreak Discovery PLC

LSE listed Cloudbreak Discovery PLC is a leading gold, precious and base metals resource explorer. Cloudbreak is focused on mineral exploration in Western Australia with the aim of bringing near-term cashflow and driving shareholder value. Through its wholly owned subsidiaries, the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities with high intrinsic value. Cloudbreak's generative model across the mineral sector enables a multi-asset approach to investing in the commodity cycle.

Competent Persons Statement

The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to Cloudbreak Discovery Plc and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.

 

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