REG - Geo Exploration Ltd - Gorge and Namibia Update and Issue of Shares

GEO ExplorationAnnouncement

14/01/2026 07:00

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RNS Number : 7802O  Geo Exploration Limited  14 January 2026

 14 January 2026

 GEO Exploration Limited

 ("GEO " or the "Company")

Gorge Project - Completion of Acquisition and Issue of Shares

 and Namibia Update

 Highlights

 ·      Final administrative steps completed for the acquisition of
 Exploration Licence E08/3737, including payment of A$100,000 cash
 consideration.

 ·      48,130,000 consideration shares issued at £0.004 per share, held
 in escrow with the Company's registrar until 13 January 2027.

 ·      18,472,037 ordinary shares to Callum Baxter in settlement of a
 consultancy fee issued at £0.00135 which is closing share price on 12 January
 2026.

 ·      Historic exploration identified gold mineralisation over
 approximately 5km of strike, including rock chip results up to 134g/t Au and
 soil samples up to 233g/t Au.

 ·      Multiple near-surface gold nuggets recovered, ranging from <2g
 to over 100g, supporting the potential presence of a primary bedrock gold
 source within the licence area.

 ·      Planned modern exploration activities intended to refine
 geological understanding and prioritise targets within the Gorge Project area.

 ·      Continuing discussions with multiple parties for the farm-out
 process of licence PEL0094 in Namibia.

 GEO Exploration Limited (AIM: GEO) is pleased to announce that it has now
 completed the final administrative steps relating to the acquisition of the
 Gorge Project, a highly prospective gold exploration licence located in
 Western Australia.

 Completion of Acquisition

 The Company confirms that all final administrative requirements including
 ministerial consent relating to the acquisition of the Gorge Project have now
 been completed. This includes payment of the A$100,000 cash consideration and
 the issuance of 48,130,000 GEO ordinary shares at a price of £0.004 per
 share, in accordance with the terms announced on 21 October 2025.

 The consideration shares have been issued and are subject to escrow
 arrangements with the Company's share registrar until 13 January 2027.

 The exploration licence will appear on the Western Australian DMIRS public
 register following completion of the standard regulatory application
 processing.

 In connection with the acquisition of the Gorge Project, the Company has
 agreed to issue 18,472,037 new ordinary shares to Mr Callum Baxter in
 settlement of a consultancy fee at an issue price of £0.00135 which is the
 closing share price on 12 January 2026. The consultancy fee represents
 A$50,000. Mr Baxter provided material technical and commercial assistance in
 relation to the identification, evaluation and progression of the Gorge
 Project through to completion.

 Gorge Project Overview

 The Gorge Project comprises granted Exploration Licence E08/3737, located
 approximately 110km west of Paraburdoo in Western Australia and covering an
 area of 81 square kilometres within the Capricorn Orogen.

 Historic exploration at Gorge has been limited and sporadic, however previous
 work has identified widespread gold mineralisation across the licence area.
 Gold occurrences have been recorded over approximately 5km of strike,
 supported by drainage, soil and rock chip sampling, historic workings, and
 alluvial and eluvial gold recovery.

 Historical results include:

 ·      Rock chip samples returning gold values up to 134g/t Au

 ·      Soil samples returning gold values up to 233g/t Au

 ·      Drainage sampling returning elevated gold values

 ·      Recovery of multiple gold nuggets from near surface, ranging from
 <2g to in excess of 100g

 These results along with the proximity of the nugget recoveries suggests the
 potential presence of a primary bedrock gold source within the licence area.
 Further details of historic activities and results can be found in the
 announcement dated 11 December 2025 - Gorge Project Update.

 Exploration Activities

 With the acquisition now completed, the Company is preparing systematic
 exploration activities at the Gorge Project. Planned work programmes will
 focus on modern exploration techniques designed to refine priority target
 areas and advance the project toward initial drilling following completion of
 required heritage and access activities.

 Namibia Update

 GEO has a material opportunity to deliver shareholder value from its 78%
 interest in Petroleum Exploration Licence 0094 in the Walvis Basin, offshore
 NW Namibia.  This licence covers 5,798 square kilometres in water depths
 ranging from 450 metres to 1550 metres.  In May 2025, GEO reported a material
 uplift in the gross mean prospective resources across the licence area to
 c.4.31MMbbl.

 GEO's strategy is to secure a farm-out partner to fund and lead the next
 stages of exploration and development.  Since the Company reported that it
 was in advanced discussions in late 2024, several new parties have accessed
 the data room. The Directors believe that activity with Chevron and others
 across the region has reinvigorated interest in PEL0094, particularly since
 October 2025.  As a result, the Company remains in discussions with the
 interested party reported in 2024 pending fulfilment of certain financial
 conditions by that party. However, given the time elapsed since 31 December
 2024 and the recent increased interest in the licence from new parties, it
 seems likely that the terms with original interested party would be amended if
 an agreement is formalised with that party. The Company will continue to
 update shareholders as progress is made towards a farm-out agreement.

 Admission and Total Voting Rights

 Application will be made to AIM for admission of the Consideration Shares (the
 "New Ordinary Shares"), which will rank pari passu with the existing Ordinary
 Shares. Admission is expected to become effective, and dealings in the New
 Ordinary Shares to commence, on or around 8.00 a.m. on 19 January 2026.

 Following Admission, the Company's issued share capital will comprise
 5,663,107,159  Ordinary Shares, each carrying one vote per share.
 Accordingly, the figure of  5,663,107,159 may be used by shareholders as the
 denominator for calculations by which they determine whether they are required
 to notify their interest in, or a change to their interest in, the Company
 under the FCA's Disclosure Guidance and Transparency Rules.

 Omar Ahmad, Chief Executive Officer, commented:

 "With the final administrative steps now completed, we are pleased to be in a
 position to begin exploration at the Gorge Project. The historic grades,
 widespread surface gold occurrences and recovery of multiple gold nuggets
 highlight the prospectivity of the licence and support further systematic
 exploration and future drilling.

 In parallel, we are encouraged by the level of interest in our Namibian
 licence and determined to secure an accretive farm-out agreement for
 shareholders."

 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.

 For further information please visit: www.geoexplorationlimited.com
 (http://www.geoexplorationlimited.com) or contact:

 GEO Exploration Limited                                                     investors@geoexpltd.com

 Hamza Choudhry, CFO and Executive Director

 SPARK Advisory Partners Limited (Nominated Adviser)                         +44 (0) 20 3368 3555

 Andrew Emmott, Dillon Wall

 CMC Markets (Joint Broker)                                                  +44 (0) 20 3003 8632

 Douglas Crippen

 SI Capital Limited (Joint Broker)                                           +44 (0) 14 8341 3500

 Nick Emerson

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

 

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