Maaden (Saudi Arabian Mining Company) report resource additions of 7.8 million ounces across 4 key areas spanning operating mines, early stage prospects and new discoveries, all within Saudi Arabia.

This has been driven by drilling activities defining more than 9 million ounces of additions prior to adjustments for annual resource reporting factors such as increased cost and increased commodity price assumptions.

Targeted drilling across four locations delivered robust Mineral Resource growth: Mansourah Massarah delivered a 3.0Moz net increase year-on-year, Uruq 20/21 and Umm As Salam added 1.67Moz, and Wadi Al Jaww contributed a maiden 3.08Moz Mineral Resource.

These results underscore Maaden’s speed and discipline in building a leading gold growth pipeline in the Kingdom of Saudi Arabia.

Advanced drilling in the Central Arabian Gold Region ‘CAGR’ identified new mineralized zones, while near mine drilling at the historic Mahd gold mine has extended the potential resource envelope which will be evaluated for mine life extension.

In addition, early-stage exploration drilling across base metals has identified promising exploration targets. Initial drilling at Jabal Shayban and Jabal Al Wakil has highlighted copper, nickel and platinum group element mineralization consistent with large mineral systems.