Selta Update: Appointment of Drilling Contractor

First Development Resources PLC

11 May 2026

 

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11 May 2026

First Development Resources plc

('First Development", "FDR" or the "Company')

Appointment of drilling contractor - Lander West Gold Target, Selta Project

First Development Resources plc (AIM: FDR), the UK-based, Australia-focused exploration company with mineral interests in the Northern Territory and Western Australia, is pleased to announce the appointment of GD GeoDrill Australia Pty Ltd ("GeoDrill Australia") as drilling contractor for the Company's maiden Phase I Reverse Circulation ("RC") drilling programme at the Lander West gold target within its 100%-owned Selta Project in the Northern Territory, Australia.

The appointment of GeoDrill Australia represents a significant operational milestone for the Company and follows completion of the necessary regulatory approvals required to commence drilling activities at Lander West.

GeoDrill Australia was selected as the preferred drilling partner based on its strong technical capabilities, modern equipment fleet and proven track record of safe and efficient programme delivery across Australia and within the Selta region.

GEODRILL AUSTRALIA - TECHNICAL & ENVIRONMENTAL, HEALTH & SAFETY ("EH&S") CAPABILITY

·  Extensive experience delivering RC and mineral exploration drilling programmes, including multi-rig, continuous operations across Australia

·    Modern high-performance drilling fleet designed to maximise productivity, sample quality and operational efficiency

·   Experienced crews with a strong track record operating safely in remote and logistically challenging environments

·    Management systems aligned to internationally recognised standards, including ISO 45001 (Occupational Health and Safety), ISO 9001 (Quality Management) and ISO 14001 (Environmental Management)

·    A proactive safety-first culture underpinned by continuous risk assessment, rigorous operational procedure and strict environmental compliance

This combination of technical delivery capability and high EH&S standards aligns closely with FDR's commitment to safe, responsible and efficient exploration.

RISK MANAGEMENT & REGULATORY APPROVAL PROCESS

In preparation for the Phase I RC drilling programme at Lander West, the Company updated its Risk Management Plan ("RMP") and Emergency Response Plan ("ERP") to incorporate the operational requirements associated with RC drilling activities.

The updated documentation underwent independent technical review and has now been formally assessed and certified by NT WorkSafe.

Accordingly, the Company has received all necessary regulatory approvals required to commence the planned Phase I RC drilling programme at Lander West.

Certification of the RMP authorises the Company to commence drilling activities under an approved risk management framework and marks completion of the principal regulatory approvals required for the programme.

Tristan Pottas, Chief Executive Officer of FDR, commented:

"We are pleased to have appointed GeoDrill Australia as our drilling partner for the maiden RC drilling programme at Lander West. Their combination of technical expertise, modern equipment and strong safety culture gives us confidence in the efficient execution of the programme.

With the appointment of GeoDrill Australia and all key regulatory approvals now secured, the Company can focus on the final operational and logistical preparations ahead of mobilisation. We look forward to commencing drilling and delivering results to shareholders in the near term."

LANDER WEST PHASE I RC DRILLING PROGRAMME

The Phase I RC drilling programme at Lander West has been designed as a targeted first-pass test of priority structural and geochemical targets identified through integrated geological and geophysical interpretation.

The programme forms part of a staged Phase I RC campaign of up to 3,000 metres, comprising an initial priority drilling phase followed by a flexible follow-up phase subject to field observations and results.

Drill targeting has been refined using recently completed aeromagnetic ("AMAG"), radiometric ("RAD") and Gradient Array Induced Polarisation ("GAIP") surveys, integrated with geochemical and historical drilling datasets.

The programme is designed to test:

·      Major shear zones and fault intersections

·      Magnetic anomalies interpreted as intrusive bodies and structural controls

·      Coincident chargeability and magnetic anomalies associated with potential hydrothermal alteration

·      Anomalous Au and arsenic ("As") geochemistry from previous drilling and surface sampling

·      Targets beneath shallow sediment cover extending to bedrock

Lander West lies within the broader Stafford Gold Trend, a recognised mineralised corridor hosting Au and antimony ("Sb") mineralisation on neighbouring tenements. Recent drilling on nearby ground operated by iTech Minerals Ltd has reinforced the prospectivity of the regional mineralised system and supports the Company's targeting rationale at Lander West.

The programme represents an important step in advancing the Lander West Gold Target and testing the scale and mineralisation potential of the broader system.

For further information visit www.firstdevelopmentresources.com or contact the following:

First Development Resources plc Tristan Pottas (CEO)	Tel: [phone]
Beaumont Cornish Limited Nominated Adviser Roland Cornish / Asia Szusciak	Tel: [phone]
SI Capital Limited Broker Nick Emerson	Tel: [phone]

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

ABOUT FIRST DEVELOPMENT RESOURCES

First Development Resources' assets comprise eight granted tenements covering a total area of 2,314.4km². Five of the tenements, comprising three prospective copper-gold projects, are located in Western Australia (WA) while the remaining three tenements, comprising a rare-earth element (REE), uranium, lithium and gold project, are located in the Australian's Northern Territory. All tenements are wholly owned by FDR. The assets are a mixture of drill ready and earlier stage exploration.

The WA Projects include the Company's Wallal Project as well as Ripon Hills and Braeside West Projects situated in the Paterson Province, which is widely regarded as one of the most productive regions in Australia for the discovery of world-class gold-copper deposits, and which is home to several world-class mines and more recent discoveries.

The Selta Project in the Northern Territory is located in an area considered highly prospective for uranium and rare-earth element mineralisation along with base and precious metal mineralisation. Numerous companies are actively exploring within the region.

Beyond the existing portfolio, FDR is actively looking to expand its portfolio through the acquisition of early-stage exploration projects in Australia.

SELTA PROJECT INDICATIVE OPERATIONAL TIMELINE

Indicative operational milestones for exploration activities at the Selta Project. Schedule subject to change.

 

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