Forrestania Resources Acquires British Hill Gold Project, Expanding WA Gold Portfolio

Forrestania Resources Limited (ASX: FRS) has signed a Binding Heads of Agreement to acquire 100% of IMD Gold Proprietary Limited, owner of the advanced-stage British Hill Gold Project in Western Australia. The project, located on a granted mining lease, hosts a JORC-compliant near-surface Mineral Resource of 1.025 million tonnes at 1.66g/t for 54,625 ounces of gold, with potential for future growth.

The acquisition strengthens FRS’s regional footprint and aligns with its gold-focused development strategy. Consideration includes the issue of 34.77 million shares valued at AU$3.825 million, with a potential adjustment to AU$6 million based on future share performance. British Hill is near production-ready, with most baseline studies, technical reviews, and approvals completed. FRS expects to finalise the acquisition by 19 August 2025, subject to standard conditions. This strategic move positions the company for near-term production and further exploration upside in a proven gold-rich region.

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