Askari Metals Finalises Sale of First Western Gold to Focus on African Exploration Growth

Askari Metals Limited (ASX: AS2) has completed the settlement of its Share Sale Agreement with Forrestania Resources Limited (ASX: FRS), marking the full divestment of its wholly owned subsidiary, First Western Gold Pty Ltd. Through this transaction, Askari received consideration totaling approximately AU$600,000, comprising AU$250,000 in cash and 2,223,321 freely tradeable shares in Forrestania Resources.

First Western Gold Pty Ltd’s portfolio includes seven granted exploration licences and one pending application in Western Australia, notably featuring the Burracoppin Gold Project. The Burracoppin asset hosts a JORC (2012) compliant Mineral Resource Estimate of 2.14 million tonnes at 1.2 grams per tonne of gold, equating to roughly 82,700 ounces. The divestment supports Askari’s strategic transition toward its African-focused exploration assets, enabling accelerated advancement of its Nejo Gold and Copper Project in Ethiopia and the Uis Rare Metals Project in Namibia—both of which offer strong potential for resource expansion through upcoming drilling and field programs.

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