REG - First Dev. Resources - Selta Project – REE Exploration Update

First Development ResourcesAnnouncement

19/11/2025 07:00

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RNS Number : 0535I  First Development Resources PLC  19 November 2025

 

19 November 2025

First Development Resources plc

('First Development", "FDR" or the "Company')

Selta Project - Rare-Earth Element exploration update

First Development Resources plc (AIM: FDR) the UK based, Australia focused
exploration company with mineral interests in Western Australia and the
Northern Territory, is pleased to provide an update in respect of the
rare-earth element ("REE") exploration strategy at its Selta Project ("Selta"
or the "Project") located in the Aileron Province of Australia's Northern
Territory.

HIGHLIGHTS

·    First-pass rare-earth element exploration at the Selta Project will
begin in early December 2025, focusing on stream-sediment sampling and
reconnaissance mapping.

·    Two priority REE target areas-Ingallan and West Nintabrinna-have been
defined following detailed desktop studies, with both areas showing elevated
historical Total REE results.

·    The planned field programme aims to validate historical geochemical
anomalies and generate new targets for potential follow-up mapping, sampling,
and investigation of ionic clay potential at Ingallan.

 

Tristan Pottas, Chief Executive Officer of FDR, commented:

"Last month we stated our intention to fast-track REE exploration at Selta.
The decision to accelerate this work was in response to a shift in
geo-political policy to secure the supply and processing of Critical Minerals
and REEs. I am pleased to report that a team will be on the ground at Selta in
early December to conduct this important first phase of targeted REE
exploration.

Exploration will include stream sediment sampling and reconnaissance mapping.
The primary objective of which is to advance our understanding of elevated
surface geochemical responses associated with the underlying lithological and
structural features, and to identify potential zones of mineralisation for
follow-up exploration."

 

SELTA RARE EARTH TARGETS

Following the completion of multiple phases of in-depth desktop review, two
REE target areas have been defined at Selta. The target areas are named
Ingallan and West Nintabrinna, their locations, alongside other target areas
on the Selta Project, are shown in Figure 1.

Notes: LCT-PEG = lithium, caesium, and tantalum (LCT) pegmatite (PEG)

Figure 1: Selta Project Data Review Targets

PLANNED FIELD EXPLORATION PROGRAMME - DECEMBER 2025

The field exploration programme which is expected to last one week is intended
to validate and replicate, on an increased density, historical geochemical
data which indicated elevated total rare-earth elements ("TREE") associated
with the underlying geology across the Ingallan and West Nintabrinna target
areas. Samples collected on this fieldwork will be processed and analysed in
January 2026; the results will inform future exploration on the property. Such
exploration may include detailed mapping and sampling on both Ingallan and
West Nintabrinna. On the latter, the Company is also planning test auger
sampling to determine the area's Ionic Clay potential.

 

INGALLAN STREAM SEDIMENT SAMPLING

The Ingallan area has received minimal exploration and is mapped as a gneissic
granite. The target is largely based on and around this mapped intrusive body
in the east of the property. This granite is noted to have mineral occurrences
of tin (Sn) and beryllium (Be) approximately 6km to the east of the Selta
licence area. Stream sediment sampling completed in 2011 by former ASX listed
company Crossland Uranium(1) ("Crossland") identified two elevated TREE
samples from watercourses that drained from the granite, suggesting a local
enrichment. The granite is not known to have been drilled, or sampled in any
way to date, and is inferred to extend to the northeast below a cover of
surficial geology / weathered granite.

Stream sediments are a highly powerful tool for regional scale "first pass"
exploration and are especially powerful when looking for heavier minerals such
as those which contain REEs, as the action of water concentrates heavier
metals. This type of sampling is not as effective for lighter minerals and
elements - such as lithium (Li) hosted minerals (spodumene, petalite and
lepidolite) or the clays that might host REE in their structure. As such,
stream sediment sampling on Ingallan can only be reliably used to evaluate
primary (pegmatite) REE mineralisation.

Twenty-two proposed sampling locations are shown in Figure 2. Sampling at
Ingallan is designed to target primary and second / third-order streams to
give an overview of the REE potential of the granite itself. The main point of
reference for this sampling is the historical sampling completed by Crossland,
supplemented by the mapped geology.

 

Figure 2: Selta Project - Ingallan Proposed Fieldwork December 2025

WEST NINTABRINNA STREAM SEDIMENT SAMPLING

The principal data source in this area is the historical geochemical sampling
completed by Crossland which shows highly elevated TREE results from multiple
watersheds in the target area. The underlying granite is understood to be
fertile due to multiple known mineral occurrences of tungsten (W) to the south
and historical tin workings and mineral occurrences to the west (both off the
Selta licence area). The granite itself is shown to have a high uranium (U) /
thorium (Th) ratio. A high U / Th ratio in granites and other intrusive rocks
can indicate fractionated, evolved magmatic fluids, which are often enriched
in incompatible elements such as REE, Li, and tantalum (Ta), these elements
are often found in pegmatites associated with the granite, or enriched in the
granite itself.

Based on the current level of understanding at West Nintabrinna, this area is
considered prospective for primary (pegmatite) REE mineralisation. As with
Ingallan, there are restrictions on the working area due to the Extent of a
Recorded Site (in the west), and a Restricted Works area (in the east). The
twenty-three sampling locations (Figure 3) have been selected to evaluate the
REE potential of areas upstream of the sampling points that are outside either
of the restricted areas and include locations near the historical sampling
completed by Crossland.

 

Figure 3: Selta Project - West Nintabrinna Proposed Fieldwork December 2025

Stream sediment sampling is a significant tool in geochemical exploration. The
composition of stream sediments reflects the bedrock geology, overburden cover
and metalliferous mineralisation. Stream sediment sampling programmes are an
effective way to "screen" exploration areas and home in on catchment areas
which chemical analysis suggests are prospective. Drainage channels originate
from discrete catchment areas; therefore, any samples of significance found in
a channel will have originated from a specific catchment, enabling follow up
exploration to focus on specific areas (Figure 4).

 

Figure 4: Selta Project - West Nintabrinna Target; Historical TREE Catchment
Areas and Proposed Sampling Locations

REE exploration is central to the Company's plans at Selta. The December 2025
stream sediment programme is the first phase of systematic, methodical
exploration which has been designed to better understand the REE potential
across the Project area. FDR is hoping to capitalise on the increased profile
of REE and potentially benefit from the recently announced United States -
Australia Critical Minerals Framework and its aim of accelerating the
development of mining, processing and recycling projects in priority
commodities which it is anticipated will include Junior explorers. The new
Framework includes a USD$1 billion investment from both nations over the next
six months to help accelerate and unlock an USD$8.5 billion pipeline of
critical mineral projects, with a joint commitment to fast-track approvals,
which could significantly impact the junior exploration sector.(2)

 

REFERENCES

1.    Melville, P. (2015) Fourth Annual and Final Report for EL 28492 for
the period 28 July 2011 to 22 May 2015. Crossland Strategic Metals Ltd, Mount
Stafford, Northern Territory. Submitted to the Northern Territory Department
of Mines and Energy.

2.    Minerals Council of Australia (2025) US-Australia Framework to unlock
USD$8.5 Billion Critical Minerals Pipeline  online  (October 21 2025).
Available at:
https://minerals.org.au/resources/us-australia-framework-to-unlock-usd8-5-billion-critical-minerals-pipeline
(https://minerals.org.au/resources/us-australia-framework-to-unlock-usd8-5-billion-critical-minerals-pipeline)

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been reviewed and
approved by Mr Nicholas O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a
qualified geologist and acts as the Qualified Person under the AIM Rules -
Note for Mining and Oil & Gas Companies. Mr O'Reilly is a principal
consultant working for Mining Analyst Consulting Ltd which has been retained
by First Development Resources plc to provide technical support.

GLOSSARY

 Term                       Definition
 Aileron Province           A large geological region in the Northern Territory made up of ancient
                            granites and metamorphic rocks, known for hosting minerals such as rare
                            earths, uranium and lithium.
 Augering                   A shallow drilling method that uses a spiral drill to collect soil or
                            weathered rock samples from just below the surface.
 Catchment Area             The area of land that drains water into a particular stream; minerals in a
                            sample likely come from this upstream area.
 Critical Minerals          Minerals essential for modern technologies that have a high risk of supply
                            shortages, including REE, lithium and tantalum.
 Fractionation (Magmatic)   A process during cooling of magma where certain elements become concentrated
                            in the final melt, enriching rocks in REE, lithium, tin and tantalum.
 Gneissic Granite           A granite that has been deformed by heat and pressure, giving it a banded
                            appearance.
 Ionic Clay                 Clay-rich material where rare-earth elements are loosely attached to clay
                            surfaces and can be extracted using mild leaching.
 LCT Pegmatite              A coarse-grained igneous rock enriched in lithium, caesium and tantalum, often
                            hosting lithium minerals.
 Mineralisation             The natural concentration of minerals in rocks or sediments to levels that may
                            have economic value.
 Pegmatite                  A very coarse-grained igneous rock formed from late-stage magma, often
                            containing rare metals and REE.
 Primary Mineralisation     Mineral deposits found in the original bedrock where they formed.
 REE (Rare-Earth Elements)  A group of 17 metallic elements used in magnets, electronics and renewable
                            energy technologies.
 Recorded Sacred Site       A recorded sacred site is a site that is known to the Authority but has not
                            been registered and includes recorded sacred burial sites. The Authority may
                            hold the information required to register the site should this become the
                            wishes of the custodians. Alternatively, a recorded sacred site may still
                            require further research in order to obtain all necessary information.
 Restricted Works Area      Areas where exploration is limited or prohibited due to cultural or
                            environmental regulations.
 Stream Sediment Sampling   A method where sediment from streams is analysed to identify upstream sources
                            of mineralisation.
 Surficial Geology          Loose soils and weathered materials covering solid rock.

 

For further information visit www.firstdevelopmentresources.com
(http://www.firstdevelopmentresources.com) or contact the following:

 First Development Resources plc  Tel: +44 (0) 20 3778 1397

 Tristan Pottas (CEO)
 Beaumont Cornish Limited         Tel: +44 (0) 20 7628 3396

 Nominated Adviser

 Roland Cornish / Asia Szusciak
 SI Capital Limited               Tel: +44 (0) 1483 413 500

 Broker

 Nick Emerson

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

ABOUT FIRST DEVELOPMENT RESOURCES

First Development Resources' assets comprise eight granted tenements covering
a total area of 2,314.4km(2). Five of the tenements, comprising three
prospective copper-gold projects, are located in Western Australia (WA) while
the remaining three tenements, comprising a rare-earth element (REE), uranium,
lithium and gold project, are located in the Australian's Northern Territory.
All tenements are wholly owned by FDR. The assets are a mixture of drill ready
and earlier stage exploration.

The WA Projects include the Company's Wallal Project as well as Ripon Hills
and Braeside West Projects situated in the Paterson Province, which is widely
regarded as one of the most productive regions in Australia for the discovery
of world-class gold-copper deposits, and which is home to several world-class
mines and more recent discoveries.

The Selta Project in the Northern Territory is located in an area considered
highly prospective for uranium and rare-earth element mineralisation along
with base and precious metal mineralisation. Numerous companies are actively
exploring within the region.

Beyond the existing portfolio, FDR is actively looking to expand its portfolio
through the acquisition of early-stage exploration projects in Australia.

 

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