GEO Exploration: Drilling Grants Awarded at Gorge and Juno Projects

Drilling Grants Awarded at Gorge and Juno Gold Projects

GEO Exploration Limited (AIM: GEO) is pleased to announce that it has been successful in its application for securing grants for the Western Australian Government Co-Funded Exploration Drilling Programme - Round 34 at both the Gorge and Juno Gold Projects in Western Australia.

The Co-funded Exploration Drilling Programme is a flagship initiative of the Western Australian Government's Exploration Incentive Scheme (EIS), managed by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) through the Geological Survey of Western Australia. The scheme is designed to further promote exploration drilling via sharing drilling costs to test innovative geological concepts in greenfields and underexplored regional areas.

At the Gorge Project, the Company submitted an application to test the high-priority Gorge Mine and MAG001 targets via a diamond drilling programme comprising seven drill holes totalling 1,200 metres.  The Company has been awarded a grant of A$180,000 to assist with direct drilling costs.  

At the Juno Project, the Company submitted an application to test the high-priority JUD003 target via a single diamond drill hole to a planned depth of 650 metres. The company has been awarded a grant of A$100,000 to assist with direct drilling costs.  

The grants are required to be utilised by October 2027. However, the Company intends to undertake the proposed drilling programmes in the first half of 2027, subject to the necessary operational arrangements and regulatory approvals.

The Company will provide further updates as its exploration programmes progress.

Tom Harris, GEO's Exploration Manager, commented:

"I am delighted that GEO has been awarded the drilling grants and excited to see these high-priority targets tested. I wish to thank Dr Finbar Murphy and Mr Callum Baxter for their efforts in preparation of the applications and the continued support provided by the West Australian Government and the Geological Survey of Western Australia."

Hamza Choudhry, Chief Financial Officer, commented:

"These grant awards align with our disciplined approach to capital allocation, with a continued focus on directing resources towards advancing GEO's exploration projects.

I would like to thank Tom Harris and our technical team in securing these grants. We are excited about the next stages of exploration at both Gorge and Juno and look forward to progressing these high-priority targets."

The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

For further information please visit: www.geoexplorationlimited.com or contact: 

GEO Exploration Limited        

Hamza Choudhry, CFO and Executive Director   

investors@geoexpltd.com

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott, Dillon Wall

+44 (0) 20 3368 3555

CMC Markets (Joint Broker)

Douglas Crippen  

+44 (0) 20 3003 8632

SI Capital Limited (Joint Broker)

Nick Emerson  

+44 (0) 14 8341 3500

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The person responsible for the release of this announcement is Hamza Choudhry, Chief Financial Officer and Executive Director.