First Development Resources Reports Assay Results from Initial Reverse Circulation Drilling Programme At Lander West Gold Target Within the Selta Project

First Development Resources plc reported assay results from its initial Reverse Circulation drilling programme at the Lander West gold target within the Selta Project in the Northern Territory. The eight-hole, 1,593 metre programme has confirmed primary gold mineralisation in bedrock at Lander West. Hole 26LWR08 returned 7m @ 0.40 g/t Au from 50m downhole, including 2m @ 0.98 g/t Au, with a peak 1m assay of 1.11 g/t Au.

Au anomalism was encountered in six of the eight holes. The drilling has provided significant new geological information which, when integrated with surface geochemistry, modern geophysics and the reconstructed historical exploration dataset, has materially advanced the understanding of Lander West. Multiple priority targets have now been identified across a large target area where significant gaps remain between historical drill fences and across prospective magnetic and structural features.

The next phase of exploration is being finalised, with preparations underway and field crews expected to return to Lander West in October. Drillhole 26LWR08 returned 7m @ 0.40 g/t Au from 50m downhole, including 2m @ 0.98 g/t Au; validation of historical RAB drilling data (Normandy NFM Ltd, 1995-1998), has also confirmed historical hole RHB108 returned 16m @ 0.30 g/t Au from 12m, including 2m @ 1.93 g/t Au. Au anomalism was encountered in six of eight RC holes, providing additional evidence of hydrothermal activity and geological vectors for follow-up across Lander West.

Copper mineralisation intersected: Drillhole 26LWR02 returned 8m @ 0.32% Cu from 47m downhole, including 5m @ 0.39% Cu, with a peak 1m assay of 0.58% Cu. Multiple priority targets identified: integrated drilling, geophysics, surface geochemistry and historical data review have defined a pipeline of priority exploration areas across Lander West, referred to as the Red Handed, Red Hackle, Auraria, L1 and Giles areas. The next exploration phase is being finalised: preparations have commenced, with field crews expected to return to Lander West in October and work directed towards ranking and refining targets for subsequent Aircore and RC drilling.

The initial programme comprised eight RC holes for 1,593 metres across geological, geochemical and geophysical targets at Lander West. At Red Handed, drillhole 26LWR08 intersected 7m @ 0.40 g/t Au from 50m downhole, including 2m @ 0.98 g/t Au, with a peak 1m assay of 1.11 g/t Au. The strongest Au response occurs within sulphide-bearing dolerite.

When compared with historical drilling and magnetic data, this provides a potential geological vector that can now be tested elsewhere across Lander West. Au anomalism was also encountered in several other holes, including peak assays of 0.385 g/t Au in 26LWR01 and 0.221 g/t Au in 26LWR03, supporting evidence of widespread hydrothermal activity across the project. Drillhole 26LWR02 intersected 8m @ 0.32% Cu from 47m downhole, including 5m @ 0.39% Cu, with a peak 1m assay of 0.58% Cu.

The significance of this copper mineralisation is being assessed within the broader mineralising system. The 2026 geological reconnaissance and rock-chip sampling programme recorded 243 samples/sites across Lander West. Au values reached 0.64 g/t Au, with associated pathfinder geochemistry including elevated As, W, Sb, Bi and Cu.

The rock-chip assay results provide additional evidence of hydrothermal activity across the wider target area and, together with the RC drilling and geophysical datasets, are helping prioritise areas for follow-up. The reconstruction and validation of the historical exploration dataset has materially advanced the understanding of Lander West. Much of the historical drilling was shallow, with significant gaps between drill fences and across prospective magnetic and structural features.

When considered against the scale of Lander West, substantial prospective areas remain insufficiently tested by systematic modern exploration. At Red Handed, the review has validated historical RAB hole RHB108 (drilled 4 September 1997), reported by Normandy NFM Ltd, as returning 16m @ 0.30 g/t Au from 12m, including 2m @ 1.93 g/t Au. The higher-grade interval was subsequently re-assayed by fire assay with an Atomic Absorption Spectroscopy finish.

RHB108 and 26LWR08 occur at separate locations 834m apart, and do not demonstrate continuity, but both provide further evidence of an Au-bearing system at Red Handed, which strengthens the rationale for systematic follow-up. The integrated review has identified a pipeline of targets at different stages of maturity. Red Handed is the immediate priority, followed by Red Hackle, Auraria, L1 and Giles.

Follow-up at Red Handed will test whether mineralisation can be traced along strike and at depth and, critically, whether grade, width and continuity improve. The next phase of exploration is being finalised, with field crews expected to return to Lander West in October. Work will focus on advancing and refining the priority targets identified through the integrated review, with results used to rank opportunities for subsequent Aircore and RC drilling.

The programme will be staged and capital-disciplined, with targets required to earn further expenditure. Red Handed is the immediate priority, alongside Auraria, L1 and Red Hackle. The objective is to determine whether the Au-bearing system demonstrated at Lander West develops into zones of materially better grade, width and continuity.

Hole 26LWR08: From 50m to 57m, 7m interval, result 0.40 g/t Au including 2m @ 0.98 g/t Au from 52m. Hole 26LWR02: From 47m to 58m, 8m interval, result 0.32% Cu including 5m @ 0.39% Cu from 49m. Initial RC drill-hole collar details: Hole ID 26LWR01, Easting 2,237,307, Northing 5,719,800, Azimuth 25, Dip -60, Downhole Depth 312m.

Hole ID 26LWR02, Easting 2,234,807, Northing 5,722,295, Azimuth 195, Dip -55, Downhole Depth 168m. Hole ID 26LWR03, Easting 2,238,377, Northing 5,722,264, Azimuth 200, Dip -55, Downhole Depth 225m. Hole ID 26LWR04, Easting 2,242,047, Northing 5,720,037, Azimuth 200, Dip -55, Downhole Depth 216m.

Hole ID 26LWR05, Easting 2,260,627, Northing 5,714,922, Azimuth 235, Dip -55, Downhole Depth 174m. Hole ID 26LWR06, Easting 2,266,907, Northing 5,711,072, Azimuth 200, Dip -60, Downhole Depth 180m. Hole ID 26LWR07, Easting 2,278,697, Northing 5,746,083, Azimuth 320, Dip -55, Downhole Depth 150m.

Hole ID 26LWR08, Easting 2,268,307, Northing 5,759,210, Azimuth 20, Dip -60, Downhole Depth 168m. Total drilled: 1,593m. Projection: UTM Zone 53S MGA94 Datum.

Azimuth relative to true north.