Drilling Approvals Received for Peak Hills

Summary by AI ^BETAClose X

Forgent plc has received approval from the Department of Mines, Petroleum and Exploration for its maiden drilling campaign at the Peak Hills gold-copper project in Western Australia, marking a significant operational milestone. The initial Phase 1 programme will involve approximately 35 aircore holes for 2,300 metres, with an estimated cost of A$200,000, aiming to test multiple high-priority targets across the Karalundi, Junction, and Curleys prospects. The approved Programmes of Work permit up to 750 aircore holes, with no hole exceeding 100 metres in depth, providing flexibility for future exploration. Drilling is expected to commence this Summer.

Disclaimer*

FORGENT PLC

01 June 2026

1 June 2026

Forgent plc
("Forgent" or the "Company")

Drilling Approvals Received for Peak Hills

Summer Gold-Copper Drilling Campaign to Commence Shortly

Forgent plc (AIM: FORG), the technology-led energy transition company, is pleased to announce that the Department of Mines, Petroleum and Exploration ("DMPE") has approved the Programmes of Work ("PoW") for the Company's maiden drilling campaign at its Peak Hills gold-copper project in Western Australia.

The approvals represent a major operational milestone as Forgent transitions from project evaluation to active field exploration. The Company believes Peak Hills offers a compelling opportunity to unlock value through the combination of shallow mineralisation targets, encouraging historic gold and copper results, and close proximity to existing regional processing infrastructure.

The initial Phase 1 programme has been designed to test multiple high-priority targets across the Karalundi, Junction and Curleys prospects using low-cost aircore drilling. The programme will focus on validating historic exploration results, extending known mineralisation and identifying additional mineralised zones across the broader project area.

The approved PoW permits provide for drilling of up to 750 aircore holes across the project area, providing significant flexibility for future exploration success. It is estimated that no hole will be deeper than 100 metres in this phase. The Company's initial campaign is expected to comprise approximately 35 holes for approximately 2,300 metres of drilling at an estimated cost of approximately A$200,000.

James Parsons, CEO of Forgent plc, commented: "Peak Hills represents exactly the type of opportunity Forgent is seeking to advance: a large-scale project with encouraging historic results, low-cost exploration opportunities and existing nearby infrastructure. The receipt of these approvals allows us to move from planning into execution, with drilling expected to commence this Summer."

For further information on Forgent plc, visit the Company's website www.forgentplc.com or contact:

ENQUIRIES

FORGENT plc
James Parsons
c/o Camarco

Strand Hanson - Nomad & Financial Adviser
James Harris / Richard Johnson
Tel: +44 20 7409 3494

Global Investment Strategy UK Ltd - Broker
Christopher Kipling / Samantha Esqulant
Tel: +44 20 7048 9045

Camarco - Financial PR
Billy Clegg / Georgia Edmonds / Fergus Young
Tel: 0203 757 4980
Email: forgent@camarco.co.uk

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and is disclosed in accordance with the Company's obligations under Article 17 of that Regulation.

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