Stage II Drilling Set to Commence at Lander West

First Development Resources PLC

12 October 2026

 

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12 October 2026

First Development Resources plc

(“First Development”, “FDR” or the “Company”)

Stage II Drilling Set to Commence at Lander West

FDR returns to Red Handed to follow up bedrock gold discovery

First Development Resources plc (AIM: FDR), the Australian-focused exploration company, announces that priority soil sampling at Lander West is complete and Bullion Drilling Co Pty Ltd (“Bullion Drilling”) is mobilising to site for Phase I, Stage II reverse-circulation (“RC”) drilling. Drilling is expected to commence in the coming days at the Lander West Gold Project in the Northern Territory.

The programme follows up the Stage I results, which confirmed gold mineralisation in bedrock at Red Handed. Phase I was designed to proceed in stages, using results from the first holes to guide the next tests.

HIGHLIGHTS

•          Contractor ready: Bullion Drilling is preparing to commence follow-up RC drilling, with access and drill pads established.

•          Focused programme: approximately 12 holes for 1,920 metres are planned for Stage II, funded from existing cash resources, with the final hole positions subject to refinement in the field.

•          Stage I discovery: hole 26LWR08 intersected 7m @ 0.40 g/t gold from 50m downhole, including 2m @ 0.98 g/t gold.

•          Clear objective: test for higher grades, greater mineralised thickness and continuity along strike and down dip, while examining other priority targets.

•          Soil sampling complete: samples are being prepared for dispatch to ALS Laboratory for analysis.

Tristan Pottas, Chief Executive Officer, commented:

“Stage I confirmed gold mineralisation in bedrock at Red Handed and gave us a much clearer picture of where to drill next. We designed Phase I to progress in stages, with each set of results guiding the next. The findings have given us the confidence to return to Lander West without delay.

“I am particularly pleased to have Bullion Drilling mobilising to site to begin our Stage II drill programme. Their experience is well suited to this focused follow-up programme. Stage II will test whether we can identify higher grades, greater mineralised thickness and continuity along strike and down dip. We are excited to get the drill turning and see what these targets deliver.”

PHASE I, STAGE II DRILLING

The Stage II programme focuses on Red Handed, where Stage I confirmed gold mineralisation in bedrock. Approximately 12 holes for 1,920 metres are planned and several holes will follow up 26LWR08, which intersected gold in altered, sulphide-bearing dolerite. These holes are designed to test for improvements in grade and thickness along strike and down dip, and to assess the extent of the mineralised zone.

Further holes will follow up historical hole RHB108, which returned 16m @ 0.30 g/t gold from 12m downhole, including 2m @ 1.93 g/t gold. RHB108 lies approximately 834 metres from 26LWR08. The two intersections represent separate targets at this stage; continuity between them has not been established.

The programme will also test selected Red Handed targets identified from geological and geophysical data. The field team may refine hole positions and depths as drilling improves its understanding of the geology, allowing the programme to respond to what is found on the ground.

SITE PREPARATION

Access and drill pads for the Phase I, Stage II programme have been established. Bullion is mobilising to site, with drilling expected to commence in the coming days.

BULLION DRILLING

FDR has appointed Bullion Drilling Co Pty Ltd to undertake Stage II drilling. Established in 2004, Bullion has delivered exploration drilling programmes across Australia, including in remote locations. Its experience in RC, aircore and RAB drilling, supported by equipment suited to remote operations, makes it well placed to undertake the Lander West programme.

The Company is particularly pleased to be working with Bullion Drilling’s owner-operator, Paul Scanlon, who will be directly involved in the drilling. FDR values the practical experience he and his team bring to this focused follow-up programme.

SOIL SAMPLING PROGRAMME COMPLETE

The priority soil-sampling programme at Lander West is complete, and samples are being prepared for dispatch to ALS Laboratory in Adelaide for analysis. The programme was designed to fill gaps in historical sampling and assess gold and associated elements across the wider target area, helping FDR rank targets for future exploration.

NEXT STEPS

Stage I, results of which were announced on 15 September 2026, comprised eight RC holes totalling 1,593 metres. The 26LWR08 gold intersection was associated with altered dolerite, sulphides and quartz veining. These observations, together with historical drilling and geophysical data, have guided the Stage II targets.

Stage II drilling is independent of the soil-sampling results and is designed to follow up targets identified from Stage I drilling and the wider geological and geophysical dataset. The soil-sampling and Stage II drilling programmes are both funded from the Company’s existing cash resources. FDR will report results from each programme as they become available.

Qualified Person Statement

The technical information contained in this disclosure has been reviewed and approved by Mr Nicholas O’Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O’Reilly is a principal consultant working for Mining Analyst Consulting Ltd, which has been retained by First Development Resources plc to provide technical support.

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.

Distribution: This announcement has been notified via a Regulatory Information Service and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

ABOUT FIRST DEVELOPMENT RESOURCES

First Development Resources plc (AIM: FDR) is a UK-based exploration company focused on mineral opportunities in Australia. Its principal asset is the 100%-owned Selta Project in the Northern Territory, which includes the Lander West gold targets and other prospective areas for rare-earth elements and uranium. Initial drilling at Lander West has confirmed gold mineralisation in bedrock. FDR also holds the Wallal Project in Western Australia and is actively reviewing opportunities to expand its Australian project portfolio.

 

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