Kincora Copper teams up with AngloGold Ashanti

Joint Venture

Kincora Copper has informed in its recent press release that it executed a definitive multi-phase Earn-in and Joint Venture Agreement with AngloGold Ashanti . This partnership focuses on wholly-owned Nyngan and Nevertire licenses in the NJNB of the Macquarie Arc.

John Holliday and Peter Leaman commented: „We are excited to partner with AngloGold, whose support brings the capital, technical expertise, and belt-scale capacity needed to aggressively drill and realize the potential of Kincora’s district-scale land position. This virgin exploration territory with huge upside potential offers Cadia-scale discovery opportunities. AngloGold, a successful greenfield explorer, shares our vision for the NJNB as a new district for Tier-1 gold-rich copper porphyry system discoveries.

We look forward to starting on-ground exploration and testing large-scale targets across both the Nyngan and Nevertire licenses.”

Key points

Key Terms of the Agreement:

• AngloGold may earn a 70% interest by investing A$25 million in exploration over seven years, with a minimum expenditure of A$2 million in the first two years. A joint venture will be formed after this period.

• AngloGold can earn an additional 10% (total 80%) by completing a Pre-Feasibility Study (PFS) or funding another A$25 million over three years.

• Exploration Management: During the Minimum Obligation period, Kincora will conduct all exploration activities and earn a 10% management fee.

About Kincora

Kincora was the early mover into the Northern Junee-Narromine Belt (NJNB), securing a district-scale portfolio of the most prospective parts of the Macquarie Arc’s northward extension. This area, comparable to the Lachlan Transverse Zone, offers significant discovery potential with settings supportive of large-scale intrusive complexes. Despite limited prior drilling in the northern extensions, the mature southern regions host over 160Moz gold equivalent and several world-class mines like Cadia, Cowal, and Northparkes.

This agreement marks a significant step forward in unlocking the potential of this underexplored territory.