REG - Mila Resources Plc - Mobilises Drill Rig and Strengthens Local Team

Mila ResourcesAnnouncement

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RNS Number : 5951Z  Mila Resources PLC  17 September 2025

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

 

17 September 2025

Mila Resources Plc

("Mila" or the Company")

 

Mila Mobilises Drill Rig and Strengthens Local Team to

Fast-Track Yarrol Gold Resource Potential

 

Mila Resources Plc (LSE:MILA), the post-discovery gold exploration
accelerator, is pleased to announce an update on the Phase Two campaign at the
Yarrol Gold Project in Queensland, Australia ("Yarrol" or the "Project").
 The Company has now mobilised the drill rig and strengthened the local team
with the appointment of a Country Manager to run the Yarrol exploration
programme on-site.

 

Key Highlights

·      Drill pads completed and rig mobilised to commence Phase Two
drilling campaign at Yarrol (see Figure 1).

·      Programme designed to infill and extend known zones of gold
mineralisation, supporting work towards a JORC-compliant resource estimate.

·      Recent geophysics identified southern structures with gold
potential; not drill tested in this phase but to be incorporated into future
programmes.

·      Strengthened Queensland team with the appointment of Country
Manager, Chris Spurway, supported by a Queensland-based Project Geologist,
working alongside Exploration Manager Alastair Goodship.

·      Local team structure expected to increase efficiency due to
reduced reliance on consultants, reduce discovery cost per ounce, and
accelerate work across Yarrol, Mt Steadman, and Monal.

 

Phase Two Drilling Underway

Mila is pleased to announce that the drill pads at Yarrol have been completed
and the diamond drill rig has now mobilised to site to commence the Phase Two
drilling campaign. The campaign is broken up into two parts; comprising a
1,600m diamond drilling campaign to provide detailed structural data on the
controls of mineralisation, followed by a 3,000m reverse circulation ("RC")
programme to both infill and extend the tested mineralisation footprint.

 

This programme builds on the work provided by independent technical review
undertaken by RSC Mining Consultants and is focused on infilling and extending
the known zones of gold mineralisation. Results from the programme will form
the foundation of a JORC-compliant Mineral Resource Estimate which will be
completed once the dimensions of the system start to be defined.

 

Strengthening the Queensland Team

To support ongoing operations and longer-term project development, Mila has
expanded its in-country geological team.

·      Chris Spurway has joined as Country Manager. Chris is a highly
experienced geologist and Competent Person with an extensive background in
exploration project development. He brings specific expertise in narrow vein
gold systems and joins the project having a decade of work with EMX Royalty
Corporation, where he was responsible for generating and advancing projects
within Australia, including the Yarrol portfolio.

·      A Queensland-based Junior Project Geologist has also joined the
team. Working alongside Chris Spurway and Exploration Manager Alastair
Goodship. The Junior Project Geologist will play an active role on the ground,
both in supporting the drilling campaign and in generating new drill targets
across the Queensland portfolio.

 

The establishment of a strong local team enables Mila to operate more
effectively, with confidence in the potential of the current portfolio, whilst
looking to reduce the cost per ounce of gold discovered and ensuring campaigns
are delivered efficiently.

 

Commitment to Delivering Shareholder Value

The Board remains highly confident in the resource potential at Yarrol and the
broader prospectivity of the Yarrol Fault, in addition to the exploration
upside at the Company's Mt Steadman and Monal projects. By aligning the Board
and in-country team through incentive-driven exploration strategies, Mila is
well placed to create shareholder value through resource growth and discovery.

 

Invitation to Live Investor Presentation

Investors are invited to attend a live presentation webinar with the Board to
hear more about the Phase Two drilling campaign and to understand how the
Company intends to deliver value through its work programmes.

 

The webinar will be held on the Investor Meet Company platform at 11:00am BST
today, Wednesday 17 September.

 

Investors can sign up to Investor Meet Company for free and add to meet Mila
Resources Plc via:
https://www.investormeetcompany.com/mila-resources-plc/register-investor
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.investormeetcompany.com%2Fmila-resources-plc%2Fregister-investor&data=05%7C02%7Cwill%40stbridespartners.co.uk%7Cba779921e5d24e97f38f08dcf8ceb570%7C48b7268319d344289c4b73cf144d89ed%7C1%7C0%7C638658813926402645%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=P9xIuCJ2U4YDqYonqBmC8Cd4RAObHAPXO60fjaFMnKI%3D&reserved=0)

 

Mark Stephenson, Executive Chairman of Mila, commented:

"I am delighted to welcome Chris Spurway to the Company and to see our
Queensland team strengthening with additional local expertise. Having boots on
the ground, led by an experienced Country Manager, is central to our strategy
of reducing the cost per ounce of discovery and accelerating our work
programmes.

 

"With our team now in place, we are excited to commence Phase Two drilling at
Yarrol. This campaign will extend known zones of mineralisation and provide
the data we need for a JORC-compliant resource. This is about more than a
single campaign, it is about positioning Mila to make multiple discoveries
along the Yarrol Fault, the targets of Monal, and Mt Steadman, all focusing on
creating long-term value for our shareholders."

Figure 1: Drill rig on site at Yarrol.

 

 

**ENDS**

For more information visit www.milaresources.com
(https://www.milaresources.com) or contact:

 Mark Stephenson              info@milaresources.com

 Mila Resources Plc
 Jonathan Evans               +44 (0) 20 7100 5100

 Tavira Financial Limited
 Nick Emerson                 +44 (0) 20 3143 0600

 SI Capital
 Damon Heath                  +44 (0) 20 3971 7000

 Shard Capital Partners LLP
 Susie Geliher / Will Turner  +44 (0) 20 7236 1177

 St Brides Partners Limited

 

 

 

 

 

 

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