Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) announced the expansion of its district-scale Sybella-Barkly REE and uranium project (the ‘Project’), where the Company is currently drilling for district-scale rare earth elements (‘REE’) and uranium targets (refer to figure 2*).

Key Highlights

– 183km2 of new tenure secured, expanding Basin’s district-scale Sybella-Barkly REE-uranium footprint to 6,140km2.

– Additional landholding considered prospective for clay-hosted REE and paleochannel uranium, supported by historic AEM and geochemical anomalies.

– Conduct and compensation agreement now finalised for Ardmore Station, allowing exploration access for the next 12 months.

– Initial sediment-hosted REE drilling ongoing, with ~3,000m planned in Q4 2025.

– Multiple district-scale targets ready for systematic drilling.

The Company has successfully secured an application for Exploration Permit for Minerals (‘EPM’) 29333, which will add 183 km2 of highly prospective ground to the Project (refer to figure 1*). This increases the Sybella-Barkly landholding to 6,140 km2, strengthening Basin’s position over key sediment-hosted REE and uranium target corridors. The application is expected to take around months to progress to grant.

Basin has also finalised a conduct and compensation agreement covering work for the next 12 months at Ardmore Station, a critical milestone enabling the Company to continue with its exploration program.

Managing Director, Pete Moorhouse commented:

‘With drilling well underway at the first of our three district-scale targets for REE and uranium at this exceptionally prospective project, we are happy to expand our land position through the application of an additional exploration permit. Our Company’s drill program has been progressing well to date, and I have been on site for the last week, personally overseeing the progress. The team is doing a tremendous job and I am very excited for the results of the assays in the coming months.’

Sediment Hosted Potential

The additional application is deemed prospective for sediment-hosted targets for uranium and REE within the Barkly Tablelands. The Barkly Tablelands, refer to figure 4*, were surveyed with airborne electromagnetics (‘AEM’) by Summit Resources in February 2007 prior to its acquisition by Paladin Energy Limited (ASX:PDN). Whilst numerous targets were identified, no drilling was completed at the time. Current drainage patterns data indicate that the sediments forming the Barkly Tablelands are sourced from the Sybella Batholith. Basin is currently conducting the maiden drilling of this area to target uranium and REE potential, with approximately 3,000 metres expected to be drilled in Q4 2025.

Sediment and Ionic Clay Hosted REE Potential – District Scale Target

Results of surface geochemistry samples indicate significant mobilisation of rare earth elements into the Barkly Tablelands from the Sybella Batholith, which hosts Red Metal’s Sybella Discovery. Surface sediment samples form a regionally significant anomaly, refer to figure 4*. The highest of these values are within catchments draining from the Sybella discovery.

The Summit Resources AEM survey not only outlines an interpreted extensive paleochannel network but also highlights a conductive layer within the Barkly Tablelands sediment package directly beneath this geochemical anomaly, approximately 12 metres thick from 20 to 32 metres depth with a footprint of over 1,000 km2. This conductive layer could represent a clay unit, produced from the extensive weathering of the Sybella granites and is prospective for clay-hosted REE, refer to figure 5*.

Basin’s initial drilling is targeting this conductive horizon with aircore drilling. An average hole depth of approximately 35 metres is anticipated.

The Summit Resources’ AEM survey not only outlines an interpreted extensive paleochannel network but also highlights a conductive layer within the Barkly Tablelands sediment package directly beneath this geochemical anomaly, approximately 12 metres thick from 20 to 32 metres depth with a footprint of over 1,000 km2. This conductive layer could represent a clay unit, produced from the extensive weathering of the Sybella granites and is prospective for clay-hosted REE, refer to figure 4*.

Basin’s initial drilling will target this conductive horizon with aircore drilling. An average hole depth of approximately 35 metres is anticipated.

Paleochannel Roll Front Uranium Potential – District Scale Target

The Summit Resources’ AEM survey identified a stacked sequence of paleochannels within the Barkly Tablelands, fed from the Sybella Batholith, refer to figures 5 & 6*. This network is trending southerly, where no further AEM data exists.

Uranium content within the Sybella varies between the different phases of granites, as can be seen in the regional ternary radiometric image and supported by regional rock chip data, refer to figure 6*.

Academic research also indicates that these ‘hot’ granites are the source for the Valhalla uranium deposits.

Furthermore, historical drilling recorded redox fronts, sandstone channels and impermeable cap rocks, however no radiometric data was collected, and uranium was not assayed for.

Using the Sybella rocks that likely formed the source for the Valhalla deposits, Basin will target the potential for uranium to have also been mobilised from the Sybella granites, through the interpreted extensive paleochannel network, which appears to have suitable geological host characteristics.

Targeting work was completed by Summit Resources and Fugro to prioritise these interpreted channels.

Basin’s first pass aircore drilling program will look to confirm the characteristics of these interpreted channels. An initial 35 holes are proposed, with an average depth of 40 metres for a total of approximately 1,400 metres.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/HA1CQR9E

About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.

Source:
Basin Energy Ltd

Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449

Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317

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Perth, Australia (ABN Newswire) – Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced that it has been progressing a sponsored Level 1 American Depositary Receipt (‘ADR’) program with The Bank of New York Mellon (‘BNY’), the global leader in depositary receipt services. The Company has been advised that the ADR program will be available on or after 3rd of December 2025 onwards. Each ADR will represent 20 ordinary shares.

Why ADRs benefit Locksley and the Market

The establishment of an ADR program represents a significant step forward in Locksley’s global capital markets positioning, moving beyond the perception of an ASX microcap and into a structure trusted by major global institutions.

An ADR is a U.S dollar-denominated trading instrument that allows U.S. investors to gain exposure to non-US companies without the need for cross-border or cross-currency complexities. Importantly, the establishment of the ADR program is not a new offer of securities, therefore no additional shares will be issued or any capital raised.

Key benefits include:

– Institutional Accessibility: Many U.S. funds are restricted from investing directly in ASXlisted small caps. A U.S.-traded ADR opens access to tier-one U.S. institutions, wealth managers, and ETFs that otherwise cannot participate.

– Credibility and Perception Uplift: Partnering with BNY Mellon is widely regarded as a strong indicator of governance quality and market standing

– Liquidity & Marketability: ADRs trade in U.S. dollars during U.S. market hours, improving visibility, liquidity and ease of settlement for U.S investors

– Peer Alignment: ADRs are already used by leading Australian and global resources companies, placing Locksley alongside a well-recognised peer group

– Future Capital Pathway: The ADR framework establishes early infrastructure for potential future U.S exchange listings and builds a trading history with U.S Investors

Background on BNY Mellon

– BNY is the world’s largest provider of depositary receipt services, with a 41% global market share and a 68% share in Australia. The firm acts as depositary for 12 of the 14 Australian companies currently listed on Nasdaq and provides depositary services to over 90% of Fortune 100 companies worldwide

– BNY’s dedicated Depositary Receipts platform provides issuers with a full suite of services, including investor relations advisory, U.S. capital markets connectivity, dividend and proxy management, and access to the largest team of DR specialists in the market

Precedent Companies

Many Australian and global companies utilise ADR programs as part of their U.S. investor engagement strategies, including BHP, Rio Tinto, Fortescue Metals, QBE, Telstra, and CSL. Locksley’s ADR program will provide U.S. investors with streamlined access to the Company’s Mojave Critical Minerals Project in California, a project strongly aligned with U.S. government and defence supply chain priorities. The program will enhance Locksley’s visibility among U.S. institutions, funds and retail investors seeking exposure to critical minerals.

Kerrie Matthews, Locksley CEO commented:

‘Progressing with The Bank of New York Mellon to establish an ADR program represents another important step in Locksley’s U.S. capital markets strategy. Since commencing as CEO, I have focused on positioning Locksley not just as another Australian junior, but as a company of global strategic importance.’ ‘The ADR program enables U.S. institutions and investors to participate in our vision to deliver a 100% U.S. Mine to Market antimony solution. This uplifts our profile, expands our investor reach and sets the stage for long term capital pathways as we fast-track Mojave’s development.’

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

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Mineralization intersected in 8 of 9 holes at Tahami South, directly adjacent to Aris Mining’s producing operations in the Segovia gold district

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya’ or the ‘Company’) is pleased to announce the discovery of two new mineralized vein systems at its 100%-owned Tahami South Project in the Segovia-Remedios gold district of Antioquia, Colombia.

The Company’s ongoing drill program at Tahami South has successfully identified vein systems that include the previously targeted Vein S and Vein V, confirming the presence of mineralization consistent with quartz vein systems mined regionally. These results confirm the continuation of the Segovia district’s geological architecture onto Quimbaya’s ground, a core thesis of the Company’s strategy.

‘This is a milestone event for Quimbaya. These first vein discoveries validate our thesis and represent a turning point as we move from land assembly into value creation through the drill bit,’ said Alexandre P. Boivin, CEO of Quimbaya Gold. ‘They are not just promising results, they are proof that we’re on to a significant mineralized system, with the grades, geometry, and geology that define Colombia’s most productive gold district.’

Discovery Highlights

• Several Veins intersected across multiple drill platforms

• Mineralization intersected in 8 out of 9 drill holes, demonstrating strong structural continuity and robust targeting accuracy in the inaugural Phase 1 program.

• Drilling remains ongoing, with over 4,000 meters completed to date; the program has been extended beyond its initial scope in response to encouraging early results.

• Two distinct vein structures system (S & V) discovered, confirming Segovia-style mineral continuity on Quimbaya’s ground.

• Mineralization comprises quartz, barite, carbonate veining with sulphide assemblage (pyrite, chalcopyrite, galena, sphalerite).

‘These intercepts confirm that we are tapping into the same geological architecture that has made the Segovia district one of the most prolific gold producers in Latin America,’ said Ricardo Sierra, B.Sc., AusIMM, VP Exploration. ‘We see clear continuity in structure, mineralogy, grade, and believe we are only beginning to uncover the full potential at Tahami South.’

While initial assay results have been received from select drill holes, the Company is continuing to await the return of a significant portion of its Phase 1 drill campaign. In the interest of providing a more complete and technically coherent picture of the emerging discovery at Tahami South, Quimbaya intends to release assay data once a critical mass of results has been compiled. This approach ensures a balanced and contextualized interpretation of both grade distribution and structural continuity, and reflects the Company’s commitment to disciplined, data-driven disclosure as the scale of the system comes into focus.

Strategic Implications: Thesis Confirmed

The discovery of vein systems that include the previously targeted Veins S and V represents the first clear technical validation of Quimbaya’s exploration thesis: that district-scale mineralized structures extend beyond known mines into underexplored ground. The Company’s focused land acquisition strategy prioritized claims with gold & silver+ at surface and proximity to producers, and now, early drilling confirms this model is working.

With over 4,000 meters already drilled, surpassing the originally planned Phase 1 total, the Company has extended its current program to follow up on promising early results and to further evaluate vein continuity at depth and along strike. The strong correlation between drill intercepts and the geological model has reinforced Quimbaya’s exploration thesis. These results not only validate the presence of a robust mineralized system but also provide clear vectors for systematic expansion drilling in 2026.

Figure 1. Plan view of Tahami South showing drill platform locations 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/276292_5f253638b40f0884_001full.jpg

Figure 2. System S

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https://images.newsfilecorp.com/files/11347/276292_5f253638b40f0884_002full.jpg

Figure 3. System S

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https://images.newsfilecorp.com/files/11347/276292_5f253638b40f0884_003full.jpg

Figure 4. System V

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https://images.newsfilecorp.com/files/11347/276292_5f253638b40f0884_004full.jpg

Figure 5. System V and S

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/276292_5f253638b40f0884_005full.jpg

Capital Strengthened Through Warrant Exercises; Equity Incentives Align Leadership for 2026

Quimbaya Gold is pleased to report that during the second half of 2025, a total of 2,169,164 common shares were issued through the exercise of stock options and warrants, resulting in gross proceeds of C$874,665. This influx of non-dilutive capital reinforces the Company’s treasury ahead of a fully funded 2026 drill campaign.

In parallel, the Company granted an aggregate of 614,034 Restricted Share Units (RSUs) to members of its senior management and board of directors under its equity incentive plan. These RSUs, which will vest in accordance with the plan and CSE policies, reflect Quimbaya’s continued focus on retaining top-tier leadership and aligning long-term performance with shareholder value.

Qualified Person

Ricardo Sierra, AusIMM, is a non-independent Officer ‘VP Exploration’ and the Qualified Person for this news release. Mr. Sierra has sufficient experience with South American exploration projects relevant to the style of mineralization and type of deposit under consideration. He consents to the inclusion of the Exploration Results in the form and context in which they appear.

About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific gold mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking statements herein include statements and information regarding the Offering’s intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company’s properties and any results thereof, the strength of the Company’s mineral property portfolio, the potential discovery and potential size of the discovery of minerals on any property of the Company’s, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company’s exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company’s mineral properties; an inability to finance the Company; obtaining required permitting on the Company’s mineral properties in a timely manner; any adverse changes to the planned operations of the Company’s mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company’s projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company’s ability to comply with environmental, health and safety laws. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

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