REG - Cloudbreak Discovery - Gold Plans at Darlot West and Crofton Projects, WA

Cloudbreak DiscoveryAnnouncement

20/03/2026 07:00

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RNS Number : 3737X  Cloudbreak Discovery PLC  20 March 2026

20 March 2026

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

Gold Plans at Darlot West and Crofton Projects, WA

 

Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market
listed company, is pleased to provide an update on its planned gold
exploration programs across the Company's Crofton and Darlot West projects in
Western Australia.

 

Darlot West Gold Project

 

Planning is underway for an initial 3,000 - 5,000m drilling program, designed
to test key structural targets identified in the recent geophysical
interpretation and surface exploration programs. A Program of Work (POW)
application has been submitted to the WA Department of Mines, Petroleum and
Exploration (DMPE), with the POW expected to be granted in the coming weeks.
The Company believes there is very significant potential for this project to
host significant gold mineralisation similar to that found at the Darlot Gold
Mine (Vault Minerals ASX:VAU), located only 10km to the northeast and Northern
Star's ( ASX:NST) Thunderbox Gold Mine 20km to the southeast.  (Figure 1).

 

At the Darlot Gold Mine, the bulk of mineralisation is hosted within faulting
of the south-eastern limb of the folded Mt Pickering Dolerite(1). Distinct
similarities have been interpreted between the geological setting of
Cloudbreak's Darlot West Project and the area hosting the Darlot Gold Mine,
specifically the presence of folded, magnetic mafic stratigraphy (analogous to
the Mt Pickering Dolerite), displaying significant fault off-sets along
east-north-east and north-west structures. Areas where fold hinges are
intersected by these faults, and/or coincide with favourable host units such
as the magnetic dolerites, are priority exploration targets and will be the
primary focus of the upcoming drill program (Figure 2). Evidence of
mineralisation proximal to these targets are the numerous shallow historical
gold workings where sampling carried out by the Company returned assays of up
to 65.75 g/t Au (reported on 24(th) October 2025). Historical drilling in
these areas is considered by the Company to have been too shallow and largely
ineffective. Two potential porphyry targets have also been identified on the
property and require further work.

 

Company geologists will shortly be on the ground conducting field work to
assess potential targets associated with historical gold workings and
specifically to determine sites for RC drilling. Further rock chip sampling
and mapping work is also planned over the next month to collect further
geochemical and structural data in preparation for the upcoming drill program.

 

In addition to the above geophysical targeting work, the Company has recently
completed Ultra-Fine^ fraction (UFF) soil sampling over areas of known
mineralisation on the Project, in conjunction with regolith mapping using
Sentinel-2 satellite data over the entire project. UFF is a highly sensitive
method which is considered favourable for use in areas of transported cover
and/or complex regolith environments where conventional soil geochemistry is
less effective.

 

A prospect-scale UFF survey has been completed in proximity to and along
strike from recent high-grade rock chip results, where eleven samples assayed
over 10 g/t Au and up to 65.75 g/t Au, with the aim of delineating areas where
mineralised structures extend under cover. Results from this program are
expected in 2-3 weeks, with follow-up surveys across the wider project to
commence once these results have been received.

 

 

Crofton

 

The Crofton Project covers an area of approximately 20km(2) of laterally
extensive quartz veining within the Yilgalong granite. Quartz veins are
commonly 10's of metres wide and can be seen to extend along strike for 100's
to 1,000's of metres. A total of 54 samples were taken by Cloudbreak
geologists (released 19 January 2026) around locations of previously reported
gold results and along strike.

 

Initial sampling work was focused on areas of historically reported gold
mineralisation where grades of up to 253 g/t Au have been historically
reported. This work confirmed historical grades, with 15 samples >1 g/t and
up to 162.25 g/t Au.

 

Planning for more extensive surface geochemical programs is underway and will
commence after the wet season finishes in April. This work will consist of
geological mapping and rock chip sampling of historical >25 ppb Au soil
anomalies (Figure 3), in conjunction with an extensive soil sampling program
over an area of approximately 10km(2). The aim of this work is to generate
further targets on the project and understand the extent of the mineralised
system at Crofton, before target ranking and drill program planning later in
the year. Heritage surveys are expected to commence soon in preparation for
this work.

 

 

Tom Evans, Cloudbreak's MD, commented; "The focus of our gold exploration
plans for 2026 is on disciplined execution and delivering tangible results.
While broader market conditions remain uncertain, we are advancing our
projects in a measured and strategic way ensuring we are well positioned to
create value regardless of external volatility.

 

At Darlot West, we are approaching drill readiness and progressing through
final approvals, with high-quality targets already identified.  Following
approval of our Program of Works, we expect to commence drilling and generate
a strong flow of results during 2026.  The presence of two nearby processing
options provides a clear and capital efficient pathway to monetisation in the
event of a successful outcome.

 

 At Crofton, our upcoming work is designed to define a pipeline of drill
ready gold targets to support our second half of 2026 drilling campaign that
will underpin our second half of 2026 drilling programme.  Together, these
projects provide a balance of both near term catalysts and longer term
potential.

 

We remain confident in the strength of our portfolio and are committed to
delivering consistent, meaningful progress for shareholders throughout 2026.
The Company is fully funded for all planned exploration activities."

 

Figure 1: Location of 60.6km(2) Darlot West Gold Project, Western Australia -
10km from 2.8Moz Darlot Gold Mine and 20km from Thunderbox Gold Mine operated
by Northern Star Limited.

 

 

 

 

Figure 2: Geological and structural interpretation based on high resolution
magnetics, with multiple targets identified.

 

 

Figure 3: Crofton Project rock chip and soils results, with planned soil
survey outline.

 

 

 

 

 

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

-END-

 

For Further Information, please contact:

 

 Cloudbreak Discovery PLC  Peter Huljich, Chairman          Tel: +44 207 887 6139

                           Tom Evans, Managing Director     Tel: +44 7851 703440
 AlbR Capital Limited      David Coffman / Dan Harris       Tel: +44 207 469 0930

 (Financial Adviser)
 Marex Financial           Angelo Sofocleous / Matt Bailey  Tel: +44 (0) 207 655 6000

 (Broker)                                                   Email: corporate@marex.com

 

 

About Cloudbreak Discovery PLC
LSE listed Cloudbreak Discovery PLC is a leading gold, precious and base metals resource explorer. Cloudbreak is focused on mineral exploration in Western Australia with the aim of bringing near-term cashflow and driving shareholder value. Through its wholly owned subsidiaries, the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities with high intrinsic value. Cloudbreak's generative model across the mineral sector enables a multi-asset approach to investing in the commodity cycle.

 

Competent Persons Statement

The Information in this report that relates to exploration results, mineral
resources or ore reserves is based on information compiled by Mr Edward Mead,
who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr
Mead is a consultant to Cloudbreak Discovery Plc and employed by Doraleda Pty
Ltd. Mr Mead has sufficient experience which is relevant to the style of
mineralisation and type of deposits under consideration and to the activity
that he is undertaking to qualify as a Competent Person as defined in the 2012
edition of the `Australian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion
of this information in the form and context in which it appears in this
report.

 

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