Grant Of Prospecting Licence Over Bakers Gold

Sunrise Resources Plc

11 August 2026

 

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

11 August 2026

Grant Of Prospecting Licence Over High-Grade Gold Target

Bakers Gold Project, Western Australia

Further to its announcement of 28 July 2026, the Company is pleased to announce that the Government of Western Australia has now granted Prospecting Licence 51/3378 ("the Licence" or "P51/3378") covering the high-grade gold target at the Bakers Gold Project.

Key Points:

·    Secure Tenure: Licence granted for an initial 4-year term to 6 August 2030, renewable for a further 4 years.

·    High-Grade Gold: Company's previous drilling intersected high-grade gold mineralisation. Hole 21SBRC002 intersected 2m grading 14.4 g/t gold from 64m downhole.

·    Open Potential: High-grade mineralisation is open in all directions and occurs below an extensive gold-in-soil anomaly.

"We are delighted that the Government has moved so quickly to grant this licence following the signing of the recently announced Aboriginal Heritage Agreement and the withdrawal of Aboriginal objections. The Bakers Project is a valuable asset for the Company and our past expenditure on this project, just over £162,000, does not reflect in our balance sheet having been written off in 2022 following the end of our previous tenure over the area.

"After years of impasse, our exploration rights are now secure and the Company is free to resume exploration of this exciting project and to follow-up on our previous high-grade gold drilling results. Since we last drilled at Bakers, there have been a number of new gold discoveries in this part of the Murchison Greenstone Belt which add to the overall prospectivity of the Bakers Project."

Patrick Cheetham, Executive Chairman

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel: [phone]
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish	Tel: [phone]
AlbR Capital Limited Broker Lucy Williams/Duncan Vasey	Tel: [phone]

Detailed Information

The Licence application is located 25 kilometres south-east of Meekatharra in the Murchison Goldfield of Western Australia. It lies on the eastern limb of the Meekatharra Greenstone Belt which has yielded several million ounces of gold and contains a number of present and past producing gold mines (see Figure 1).

Historically, the eastern limb of the belt has received less attention than the more productive western limb, but recent developments have brought this part of the belt into sharper focus with the impending development of Great Boulder Resources' Side Well Project (1,021,000oz Au grading 2.0g/t Au) and the start of production from the Tumblegum Mine led by Star Minerals (custom milling of 616,000-tonne resource grading 2.28g/t).

Sunrise has previously carried out mapping, soil sampling and, in 2021, a first drill programme. The main target tested was the DRL4 Target, named after the hole number of a shallow historic rotary air blast drill hole (DLR4) which was completed by Australian Consolidated Minerals in 1987. Historic hole DLR4 averaged 0.55g/t gold over the 22m interval from 2m down hole depth to the end of hole at 24m and the final 2m sample assayed 1.17g/t gold.

Sunrise defined a 500m long gold-in-soil anomaly centred on hole DLR4 (see Figure 2) and three drill holes, 21SBRC002, 3 & 5, were drilled at 50m spacing in a fence configuration across the soil anomaly with the most north-easterly hole in the traverse, 21SBRC002, encountering high-grade gold mineralisation. A 2m interval from 64m down hole (approximately 50m below surface) graded 14.36g/t gold and included a 1m interval grading 26.51g/t gold. A 7-metre zone with low-grade gold values was intersected immediately below.

This high-grade gold drill intersection has not yet been followed up.

The Licence

Prospecting Licence 51/3378 was granted to the Company's Australian subsidiary, Sunrise Minerals Australia Pty Ltd on 7 August 2026. It covers an area of 150 hectares and the main targets generated during exploration of a wider, surrounding, area that originally comprised 10 prospecting licences.

The licence is granted for an initial terms of  4 years and can be extended for a further 4 years subject to the Company making its annual rental payments (AUD 664 per annum) and meeting its exploration expenditure commitments (AUD 6,040/year).

The Company first applied for the Licence on 24 November 2023, but the grant of the licence was held 'in application' following an objection by the Aboriginal Native Title holder and a referral to the National Native Title Tribunal. Following a long period of negotiations an agreement was signed on 27 July 2026 between the Company's 100% owned subsidiary, Sunrise Resources Australia Pty Ltd, and the Native Title holder, Yugunga-Nya PBC (YNPBC). The agreement required YNPBC to withdraw its objection, clearing the way for the Licence to be granted. The agreement also establishes the framework and processes for cooperation in the exploration of the Licence and the protection of Aboriginal Heritage.

Qualified Person Information

The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Nominated Adviser

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.

Shares in the Company trade on AIM. EPIC: "SRES".

Website: www.sunriseresourcesplc.com

 

Figure 1: Location Map

Figure 2: DRL-4 Target, Drilling & Geochemistry

 

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