Successful Northern Territory Government Grant

First Development Resources PLC

09 June 2026

 

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9 June 2026

First Development Resources plc

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

Successful Northern Territory Government Grant Award

AU$100,000 Government Grant Supports Imminent Lander West Gold Drilling

First Development Resources plc (AIM: FDR), the UK-based, Australia-focused mineral exploration company, is pleased to announce that its wholly owned subsidiary, URE Metals Pty Ltd, has been selected as a successful recipient under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations ("GDC") Programme.

The Company has been awarded AU$100,000 (inclusive of GST) to support the Phase I Reverse Circulation ("RC") drilling programme at the Lander West Gold Target, part of the Company's flagship Selta Project in the Northern Territory, Australia.

HIGHLIGHTS

·  AU$100,000 grant awarded under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations Programme.

·    Non-dilutive funding to support the Company's maiden Phase I RC drilling programme at the Lander West Gold Target.

·    Phase I programme fully funded, with drilling scheduled to commence in July 2026.

·    Grant award provides independent validation of the technical quality and prospectivity of the Lander West gold target.

·   Upcoming drilling represents the first meaningful test of the broader gold system at depth with much of the prospective geology remaining effectively untested below 50 metres.

Successful applicants under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations Programme were announced by the Minister for Mining and Energy, the Hon. Gerard Maley MLA, on 9 June 2026. Following the Minister's announcement, the Company is pleased to provide shareholders with details of the grant award and its intended application to the Company's maiden drilling programme at the Lander West Gold Target.

The Geophysics and Drilling Collaborations Programme is funded through the Northern Territory Government's Resourcing the Territory initiative and administered by the Northern Territory Geological Survey. The programme supports mineral exploration and new discoveries across the Northern Territory.

The grant funding will contribute towards the Company's maiden Phase I RC drilling programme at the Lander West Gold Target, which forms part of the Selta Project located within the highly prospective Aileron Province of the Northern Territory.

Importantly, the award represents both non-dilutive funding and independent recognition of the technical merit of the Company's exploration strategy at Lander West.

Tristan Pottas, Chief Executive Officer of FDR, commented:

"We are delighted to have been selected as a successful recipient under the Northern Territory Government's Round 19 Geophysics and Drilling Collaborations Programme. The award provides independent validation of the technical work completed to date and highlights the prospectivity of the Lander West Gold Target.

Over the past seven months, the Company has adopted a systematic and methodical approach to advancing Lander West from an initial concept to a drill-ready opportunity. The support provided by the Northern Territory Government and the Northern Territory Geological Survey represents an important endorsement of both the quality of our technical work and the potential of the project.

With all regulatory approvals secured and preparations progressing well, we look forward to commencing our maiden drilling programme in July. This programme will provide the first meaningful test of the Lander West Gold Target at depth and marks an important milestone in the development of what we believe could become a significant gold discovery for the Company and its shareholders.

On behalf of the Board, I would like to thank the Northern Territory Government and the Northern Territory Geological Survey for their continued support of mineral exploration and for fostering one of Australia's premier jurisdictions for exploration investment."

PHASE I RC DRILLING PROGRAMME

The Phase I RC drilling programme (Figure 1) represents the first meaningful test of the Lander West Gold Target at depth and has been designed to evaluate several high-priority gold targets associated with the Stafford Gold Trend, a recognised mineralised corridor located immediately south of the project area.

Target generation has been guided by the integration of historical geological and geochemical datasets together with several phases of modern geophysical surveying completed by the Company since late 2025. These datasets have identified multiple gold targets concealed beneath shallow cover.

Previous drilling within the target area was largely focused on commodities other than gold and was generally shallow in nature. Consequently, much of the prospective geology remains effectively untested below 50 metres, meaning the upcoming programme will provide the first meaningful assessment of the broader gold system at depth.

The initial programme is expected to comprise approximately 2,000 metres of RC drilling, with flexibility to expand the programme to approximately 3,000 metres subject to results.

The programme is fully funded and all regulatory approvals required to commence drilling have now been secured. Preparations are progressing ahead of the planned mobilisation of the drilling contractor in July 2026.

The Company looks forward to providing shareholders with further updates as drilling preparations advance and activities commence at the Lander West Gold Target.

Figure 1: Phase 1 Proposed Drillhole Locations on the Lander West Target.

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.

 

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