Update on Selta Project

First Development Resources PLC

27 April 2026

 

27 April 2026

First Development Resources plc

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

Selta Project - Notice of Authority to Commence Mining Activities at Lander West

First Development Resources plc (AIM: FDR), the UK-based, Australia-focused exploration company, is pleased to announce that it has received formal Notice of Authority to Commence Mining Activities at the Lander West gold target, part of its 100%-owned Selta Project in the Northern Territory, Australia.

The notice has been issued by the Northern Territory Government following the Company's successful application for an Environmental (Mining) Licence ("EML") (Exploration Licence No: EL32755), and the lodgement and acceptance of the required security bond.

This approval represents a key regulatory milestone and enables the Company to proceed with the commencement of mining activities, specifically Reverse Circulation ("RC") drilling at the Lander West gold Target in accordance with the approved environmental and operational conditions.

With all necessary approvals now secured, FDR can proceed with drilling at Lander West - a critical step in advancing the Selta Project and unlocking its gold potential. The commencement of drilling will mark the Company's first material move into active exploration on the ground at Selta, with results expected to drive news flow and project momentum.

The Company will provide further updates as pre-mobilisation and operational activities progress.

HIGHLIGHTS

·   Notice of Authority to Commence Mining Activities received (dated April 21^st 2026) from the Northern Territory Government Department of Mining and Energy

·   Environmental (Mining) Licence security bond lodged and accepted in full clears pathway for Phase I RC Drilling Programme at Lander West gold Target

·    Preparations for Phase I RC Drilling Programme underway

Tristan Pottas, Chief Executive Officer of FDR, commented:

"Receiving the formal Notice to Commence Mining at Lander West marks a significant step forward for the Company as we transition from target generation into drilling operations.

With all key regulatory approvals now in place, including the grant of our Environmental (Mining) Licence and acceptance of the security bond, we are focused on progressing towards commencing the Phase I RC Drilling Programme in the near term.

Lander West represents an important opportunity within our 100%-owned Selta Project, and we look forward to updating shareholders as we move into the next phase of development."

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

First Development Resources plc Tristan Pottas (CEO)

Tel: [phone]

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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 Australia'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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