Gorge Project Update

GEO Exploration Limited (AIM: GEO), is pleased to announce an update for the recently acquired Gorge Project which comprises a new exploration licence for gold located in Western Australia.

The primary focus for the Gorge Project is early-stage exploration for large scale gold deposits in an area that has historically only seen sparse exploration despite encouraging results from previous work. The Gorge gold project expands the Company's portfolio of highly prospective projects and provides a further opportunity for a potential transformational discovery.

Highlights

·      All key conditions for the acquisition of Exploration Licence E08/3737 have been satisfied, with final administrative steps underway ahead of transfer into GEO's 100%-owned subsidiary, Gorge Gold Pty Ltd.

·      Review of historical datasets is complete and recent prospecting confirms gold occurrences across approximately 5km of strike, supported by drainage, soil, rock chip sampling and nugget recoveries, pointing to a potential large-scale gold system.

·      Multiple near-surface gold nuggets together with historical high-grade results and widespread surface workings, highlight strong potential for a significant bedrock gold discovery.

·      High-resolution airborne magnetic, radiometric and LiDAR surveys are planned for Q1 2026, followed by geochemical sampling, heritage work and first-pass RAB/RC drilling in Q3 2026.

Transaction

The Gorge project currently comprises granted Exploration Licence 08/3737 which is located approximately 110km west of the town of Paraburdoo in Western Australia (Figure 1). The licence covers an area of 81 square kilometres of Proterozoic age metasediments of the Capricorn Orogen and is prospective for several styles of mineralisation, however the Company's primary focus will be large scale gold deposits.

Terms for the acquisition of the licence were announced to market on 21 October 2025 which included transfer of 100% of the licence and associated information and agreements for a consideration of A$100,000 cash and A$400,000 equivalent in GEO ordinary shares at price of £0.0040 per share. The Vendor retains surface rights to a depth of 2m from surface, limited to 10,000t, and the Company has the right to purchase surface rights prior to 30 June 2030. Further details on transaction terms can be found in the RNS dated 21 October 2025.

Key conditions for completion of the transaction have been met in recent days and the Company can now proceed to finalisation of administrative tasks and transfer of the licence into the name of Gorge Gold Pty Ltd, a 100% subsidiary of the Company.

Compilation and Review of Historical Exploration Data

During October and November 2025 historical information was researched and compiled for the Gorge project. This process involved accessing several government databases and historical reports. All data located for the project was documented and relevant information digitally compiled for use with modern GIS software. A summary of historical information is provided below.

Figure 1 - Gorge Project Location Map

Early and Historic Work

In the late 1800s small scale miners were active across the licence area collecting alluvial and elluvial gold from within and adjacent to dry stream beds. During this time bedrock sources of primary gold mineralisation were discovered where shallow shafts were established and relatively high-grade gold ore was extracted.

Newspaper articles published in 1896 and 1897 report bedrock mineralisation at Gorge West extending for more than 1km in length with extracted ore returning 14oz gold per ton (+450g/t gold). At Gorge East (104 Prospect) bedrock mineralisation extended for approximately 200m and extracted ore reported assays of 160oz gold per ton (+5,000g/t gold).

More modern exploration for precious metals commenced in the 1980s. Australian Anglo American Limited (AAL) evaluated the Gorge East area (104 Prospect) during 1985 with work including drainage sampling, rock chip sampling and soil sampling. Drainage sample results peaked at 192ppb gold, soils up to 233,300ppb gold (233g/t gold), and rock chip samples up to 62g/t gold (Figure 2). Limited drilling of seven RAB holes and seven diamond holes was completed which included documented results of 1m at 35g/t gold from 1m (RABP005), and 1m at 4.7g/t gold from 26m (DD006) however accurate locations for these holes were not able to be determined from the historical documentation so these hole locations are not currently available in the database but will be confirmed on the ground in the coming months.

Figure 2 - Gorge East Prospect Previous Exploration Results

Following the positive results of Australian Anglo American Ltd at the Gorge East Prospect, and noting the gold potential of the broader geology, Metana Minerals NL (Metana) embarked on a regional heliborne drainage sampling programme along 100km of strike covering approximately 2,000 square kilometres of the Capricorn Orogen from Gorge in the west to south of Paraburdoo in the east. Work was carried out during the mid to late 1980s. This was successful in generating more than 10 areas with elevated gold in streams across 100km of geological strike, including an area of around 5km x 2km within the current Gorge exploration licence.

During the heliborne work historical alluvial and elluvial surface workings, and bedrock workings from the late 1800s were noted and mapped. More than 6 areas of surface workings across 5km of strike were noted and results of drainage sampling across the licence included 163ppb gold, 138ppb gold, 137ppb gold, 106 ppb gold, 90ppb gold, and 82ppb gold with many other results greater than 10ppb gold.

During the 1990s small scale surface mining was carried out on alluvial and elluvial areas within the Gorge licence. No reliable production records are available from this period, however machinery and other infrastructure remining on site suggests reasonable gold was being sourced, and satellite imagery shows several areas subject to machine working of surface material.

Between 2006 and 2010 Ashburton Resources Limited (Ashburton Resources) carried out reconnaissance rock chip sampling across several areas within the current Gorge project area, primarily concentrating on the Gorge West prospect (Figure 3). Rock chip sample results included 134g/t gold, 11.7g/t gold and 6.1g/t gold. No further work was carried out by Ashburton Resources. These rock chip results, strike length of historic workings and footprint of elevated gold in drainage samples over an area of more than 2 square kilometres provide a compelling early-stage gold exploration target of significant size.

Figure 3 - Gorge West Prospect Previous Exploration Results

Recent Work

During the early 2020s small scale reconnaissance prospecting activities were completed across the Gorge licence. Several gold nuggets were collected ranging in size from <2g per piece to more than 100g (Figures 4 and 5). These were collected from alluvial areas within the Gorge West prospect. The proximity of the nuggets suggests that a primary bedrock gold source may be nearby.

Figure 4 - Gorge West Prospect. Examples of Gold Nuggets Collected from Near Surface

Figure 5 - Gorge West Prospect. Gold Nugget Collected from Near Surface

Following compilation of historical data and recognition of recent prospecting activities it is apparent that the Gorge licence represents a large scale, high quality early-stage gold exploration opportunity with demonstrated bedrock and surface gold occurrences, located in a favourable jurisdiction. Indications of gold mineralisation are present over a strike length of approximately 5km within the licence area. Infrastructure on site is limited, however nearby roads and towns provide adequate supply opportunities with daily air services to Paraburdoo, approximately 110km to the east. Previous work has been relatively sporadic and limited in nature and the project would benefit from modern systematic exploration activities to target large scale gold systems of Orogenic-type or Carlin-type.

Current Activities

During the current quarter planning for a high resolution airborne magnetic and radiometric survey is being finalised with quotations being received. It is expected this survey will be completed during the first quarter of 2026. This data will allow large scale geological structures to be identified and integrated with existing geochemical data.

Detailed airborne lidar quotations are being sought and it is expected this survey will be complete during the first quarter of 2026. Lidar is particularly helpful for logistics and planning utilising the detailed imagery and accurate spatial definition.

Forward Planning

Further work to be undertaken includes access rehabilitation and grid based geochemical sampling. These activities are scheduled for Q1 and Q2 2026 along with Heritage surveys in advance of drilling. Following review of results achieved during Q2 2026 initial drilling is scheduled for Q3 2026 which is likely to be Rotary Air Blast (RAB) or Reverse Circulation (RC).

Omar Ahmad, Chief Executive Officer, commented:

"With the key conditions of the licence acquisition now completed, we are now in a position to advance what is shaping into a highly compelling gold opportunity. The exceptional historical grades and the recovery of multiple near-surface gold nuggets - including pieces over 100 grams - all point toward the presence of a significant gold system at Gorge. With airborne survey work set to commence in Q1 and drilling planned for later in 2026, we are extremely encouraged by the scale and potential of this project."

Callum Baxter, Technical Consultant to GEO, commented:

"Thorough review of historical data is always an important step for a new exploration opportunity. Much can be learnt from the previous work and digital compilation of historical activities provides a solid foundation to move forward with modern exploration activities. The large strike length and compelling gold results from Gorge demonstrate the potential of the project."

The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Competent Person - The information in this announcement relating to the project is deemed to be a true representation of exploration results. Mr Steven Andrew Milner has sufficient experience, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Steven is a member of the Australasian Institute of Mining and Metallurgy (M.Aus.lMM #109255), is employed as a consultant with Austwide Mining Title Management Pty Ltd and is a graduate of Durham University and has over 40 years of experience in exploration and mining in Australia, Zimbabwe and Namibia. Steven is a Director of Mineral Search Pty Ltd.

For further information please visit: www.geoexplorationlimited.com or contact: 

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This announcement has been issued by and is the sole responsibility of the Company.