Saudi Arabian Mining Company (Maaden) announces the net addition of 7.8m ounces of new gold resources and exploration drilling identifies new opportunities

These updated Mineral Resource Estimates have been conducted by external competent persons in compliance with the JORC (2012) code (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves)

Targeted drilling across four key locations delivered growth: Mansourah Massarah delivered a 3.0Moz net increase year-on-year, Uruq 20/21 and Umm As Salam added 1.67Moz, and Wadi Al Jaww contributed a maiden 3.08Moz Mineral Resource.

Advanced drilling in the Central Arabian Gold Region identified new mineralized zones, while near mine drilling at Mahd gold mine has extended the potential resource which will be evaluated for mine life extension.

In addition, early-stage exploration projects across base metals have identified promising indications of scale. Initial drilling at Jabal Shayban and Jabal Al Wakil has highlighted copper, nickel and platinum group element mineralization consistent with large mineral systems.

Accordingly, the company would like to clarify that the financial impact of this discovery has not yet been determined, and the company confirms its commitment to its shareholders to announce any core events or developments when they become available.