Business
Mining Lease Granted - Northern Zone Gold Project
Oracle Power PLC has announced the significant achievement of being granted Mining Lease M25/389 for its Northern Zone Gold Project, located 25km east of Kalgoorlie, Western Australia. This 21-year lease, renewable thereafter, is a crucial milestone for the funding and development partnership with MEGA Resources, which will fully fund operations with the project owners receiving 50% of the profits. The company is now focused on submitting the Mine Development and Closure Proposal, with site clearance applications also due this month, paving the way for mining operations to commence. Disclaimer*
About this update from Oracle Power Plc
2 July 2026 Oracle Power PLC ("Oracle" or the "Company") Mining Lease Granted for Northern Zone Gold Project Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that Mining Lease M25/389, which covers its Northern Zone Gold Project ("Northern Zone"), has now been granted. Northern Zone is located 25km east of Kalgoorlie in Western Australia (see Figure 1). The Mining Lease has been granted for a term of 21 years to 01/07/2047 and is renewable thereafter. Highlights: · Mining Lease M25/389 has now been granted for a term of 21 years and is renewable thereafter · Major milestone met for funding and development partnership to proceed with Mega Resources Pty Limited ("MEGA Resources" or "MEGA")[1] · Site clearance application, National Vegetation Clearing Permit (NVCP) due for submission this month · Company now focusing on completing the inputs for the requisite Mine Development and Closure Proposal (MDCP) and its submission to Government Naheed Memon, CEO of Oracle, commented: "This represents a key milestone for our very exciting gold project that is so close to Kalgoorlie. To finally have this mining lease formally granted after an exhaustive 18-month process is a tremendous result for the Company, our JV partner, Riversgold Limited ("Riversgold") and our funding and production partner - MEGA Resources. "Not only does the grant of the mining lease secure long-term tenure, but it also provides us with the ability to submit the NVCP and MDCP. The MDCP team that includes Resources WA and MEGA Resources have been working in parallel to the grant application for M25/389, in order to progress all the inputs required for the submission of the MDCP which will then lead to the operating permit for the start of mining operations. "A significant number of the inputs have already been completed, such as flora and fauna surveys, hydrogeological wells and testing and heritage surveys with the last of the inputs currently being finalised. I look forward to updating shareholders further in the near term." On 30 September 2025, Oracle and Riversgold announced that a Mining and Co-Operation agreement had been signed with MEGA Resources to fully fund operations with the project owners to recei...