Critical Resources (ASX:CRR) secures NZ approvals to consolidate 1,694 km² South Island gold-antimony portfolio

Critical Resources has received regulatory approvals in New Zealand that complete the transfer of five prospecting permits and enable the commencement of Minimum Impact Activities across key permits in the Otago and Reefton regions.

The approvals mark the completion of previously announced acquisitions and provide the Company with authority to operate across its New Zealand portfolio.

Highlights

• NZP&M approval received for transfer of five prospecting permits to Goldfire Resources Limited
• Ministerial consent granted under the Crown Minerals Act 1991
• Completion of acquisition of five permits from Koura Resources Limited and Euro Gold Ventures Pty Limited
• Department of Conservation approval to commence Minimum Impact Activities across four permits
• Portfolio totals 1,694 km² across six permits in Otago and Reefton regions
• Early-stage field work expected to commence immediately at Lammerlaw and Croesus
• 90% ownership in five permits, with 10% free-carried interest retained by vendors until FID

The approvals relate to the transfer of the Rock and Pillar, Silver Peaks, Lammerlaw, Croesus and Tokomairiro prospecting permits to Goldfire Resources Limited, the Company’s wholly owned New Zealand subsidiary.

Ministerial consent satisfies the final statutory conditions precedent required for completion of the acquisitions announced on 6 August 2025 and 10 September 2025.

Under the transaction terms, Goldfire holds a 90% legal and beneficial interest in the five prospecting permits, with Koura Resources Limited and Euro Gold Ventures Pty Limited retaining a 10% free carried interest until a Final Investment Decision is made.

At that point, the counterparties may elect to convert their interest to a 1.5% Net Smelter Royalty or contribute proportionally to joint venture costs, while during the free carry period Critical Resources will fund all exploration expenditure and control all joint venture activities.

The Company’s New Zealand portfolio comprises six permits covering a total of 1,694 km², including the 100% owned Cap Burn exploration permit, located in the Otago and Reefton regions on the South Island.

The Department of Conservation has granted approval to commence Minimum Impact Activities across the four Koura permits, including geological mapping, rock chip and soil geochemical sampling, and structural interpretation.

Field work is expected to commence immediately at the Lammerlaw and Croesus prospects.

Rock and Pillar covers approximately 331 km² in Central Otago, Silver Peaks is located south of the Hyde Macraes Shear Zone, and Lammerlaw is situated on the southern limb of a regional antiform within the Otago Schist belt.

Tokomairiro has recorded historical production of approximately 25.7 koz Au at grades of up to 25 g/t Au.

Croesus is located on the southwestern flank of the Reefton Goldfield, where historical hard rock workings produced over 4,500 oz of gold at grades of up to 17 g/t Au, with recent fieldwork confirming quartz sulphide vein systems returning up to 12 g/t Au and 7.4% Sb, and tungsten mineralisation up to 33.8 wt% W.

Managing Director Tim Wither said:

“Receiving Ministerial consent across all five prospecting permits is a pivotal milestone for Critical Resources in New Zealand. These approvals satisfy the final conditions of both our Koura and Rock and Pillar acquisitions and mean we now have full statutory authority to operate across our entire New Zealand portfolio.”

The Company has outlined next steps including commencing Minimum Impact Activities across the Koura permits, progressing permitting and early stage exploration planning at Rock and Pillar, advancing follow up drill planning at the Cap Burn Gold Project targeting down plunge extensions of mineralisation beneath the confirmed arsenic in soil anomaly along the Cap Burn Fault, engaging with landowners and stakeholders, and providing updates as field programs progress.

The approvals establish the regulatory framework required for the Company to commence exploration activities across its New Zealand permits, with work programs focused on data collection and drill target generation.

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