Business
Exercise of Option to Acquire Crofton Gold Project
Cloudbreak Discovery Plc has exercised its option to acquire the 57km² Crofton Gold Project in Western Australia, with the acquisition consideration to be satisfied by the issuance of 56,000,000 ordinary shares, following an initial GBP10,000 option payment. The company's management views the project as having significant gold potential, evidenced by observed quartz veining, and anticipates it will add substantial shareholder value, especially with nearby treatment plants and a bullish outlook on gold prices for 2026. Disclaimer*
About this update from Cloudbreak Discovery Plc
[{"type":"text","content":"\n\n09 December 2025\nCloudbreak Discovery Plc\n('Cloudbreak', or 'the Company')\n \nExercise of Option to Acquire Crofton Gold Project\n \nCloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market listed company, is pleased to announce that it has decided to exercise the option to acquire exploration licence application E45/6690 covering 57km² (Figure1 ) known as the Crofton Gold Project (\"Crofton\") located 120 kilometres east-southeast of famous Australian gold mining centre of Marble Bar and 75km northeast of the mining centre town of Nullagine in the Pilbara region of Western Australia. (Figure 1).\n\nTom Evans, Cloudbreak's MD, commented; \"the recent trip by our geologists to the Crofton licence has clearly indicated the very significant gold potential of the area and agreeing to finalise this acquisition is a great result for the Company. We consider ourselves to be extremely lucky to have secured this tenure with considerable quartz veining being observed on the licence which confirms our view that this asset will ultimately be a significant asset of the Company and add real shareholder value over the coming year.\"\n \n\"Should we be fortunate to drill up a significant gold resource at Crofton next year, we will have a gold asset with two treatment plants within easy trucking distance. We are very bullish on the gold price heading into 2026, and we see a bright future for our shareholders pursuing this Western Australian gold strategy.\"\n \n\n \nFigure 1: Crofton geology, sample locations and results\n \nCommercial terms of the Crofton option exercise:\n \nThe consideration for the option of GBP10,000 has already been paid, with exercise consideration to be satisfied by the issued of 56,000,000 ordinary shares in the Company (\"Shares\"). The Vendors have agreed that the Shares will only be issued when the Company has the ability to do so under applicable regulations.\n \nThis announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).\n \n-END-\n \nFor Further Information, please contact:\n \n\n\n\n\nCloudbreak Discovery PLC\n\n\nPeter Huljich, Chairman\nTom Evans, Managing Director\n\n\nTel: +44 207 887...