Forrestania Resources reaches ore purchase agreement with Star Minerals for Tumblegum gold

• Ore to be supplied from Tumblegum gold project in WA
• Forrestania will purchase and process ore
• Right to purchase and process up to 400,000t of ore over initial 24-month term
• Agreement effective immediately

Forrestania Resources (ASX: FRS) has entered into a binding ore purchase agreement with Star Minerals relating to the supply and processing of gold-bearing ore from the Tumblegum gold project in Western Australia.

The agreement establishes a commercial framework under which Forrestania will purchase and process ore from Tumblegum through its Edna May processing facility. Initial haulage of ore is scheduled to commence on Friday, 23 October 2026.

Under the agreement, Forrestania has the right to purchase and process up to 400,000 tonnes of ore over an initial 24-month term.

Executive chair, David Geraghty, said importantly the agreement provides Forrestania with exclusivity over ore from Tumblegum that meets the agreed minimum grade threshold during the supply period, further strengthening the company’s ability to source future mill feed from third-party operations.

“The ore purchase agreement with Star Minerals represents another important step in Forrestania’s strategy of building long-term ore supply opportunities around our Lake Johnston and Edna May processing hubs. Ore haulage commences this week from Tumblegum,” he said.

“Tumblegum is a well-known gold project within Western Australia’s Eastern Goldfields region, and this agreement provides Forrestania with the opportunity to evaluate and potentially process up to 400,000 tonnes of third-party ore over the near to medium term, complementing Forrestania’s broader growth strategy as we advance towards sustained gold production.”

The commercial structure for the agreement is based on a pricing formula linked to ore grade, metallurgical recovery and prevailing gold prices, allowing Forrestania to participate in improving gold market conditions while maintaining a disciplined processing framework.

Mr Geraghty said the agreement is effective immediately and provides Forrestania with the ability to commence ore movements and processing campaigns in accordance with agreed operational schedules.

Star Minerals (ASX: SMS) recently reported it had planned to undertake grade control and depth extension drilling at its Tumblegum South gold project.

The drilling would provide data to inform the next pit cut-back, which would widen and deepen the existing pit and evaluate access to more mineralisation.

The company reported in late September, that due to a delay in processing, the Run of Mine (ROM) material at the Plutonic Mill, Star Minerals and MEGA Resources has collaborated to take the decision to pause mining on site to grade control the base of the designed Stage 1 pit and undertake further resource definition to depth, prior to deepening the pit for the remainder of Stage 1 and Stage 2 designs.

FRS was steady at 35.0¢ with a Mkt cap of $843.1M prior to markets opening.

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