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AuKing Mining Investor Kit
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AuKing Mining
Investor Insight
The Cloncurry Gold project is a portfolio of an existing permitted processing plant, mining and exploration licences that are being acquired by Orion Resources. AuKing has the right to acquire a 50 percent interest in these near-term gold production interests by incurring AU$5 million in expenditure before 30 June 2027.
Overview
AuKing Mining (ASX:AKN) is an exploration and development company with a portfolio of assets focused primarily on gold, but also uranium, copper, and critical minerals, across Australia, Tanzania, and Canada. The company aims to become a mid-tier producer through the acquisition and development of near-term production assets.
In February 2025, AuKing Mining entered into a strategic agreement with Gage Resources, an Australian subsidiary of Beijing-based Gage Capital Management. The agreement includes a $300,000 investment by Gage, resulting in a 10 percent stake in AuKing, and the sale of two non-core prospecting licenses in Tanzania to Gage for an additional $300,000. This partnership is expected to enhance AuKing's financial position and support its ongoing exploration and development activities.
Company Highlights
- AuKing Mining is an exploration and development company with its primary focus being the Cloncurry Gold Project in north Queensland.
- The company also holds a diverse portfolio of exploration assets in Western Australia (Koongie Park), Tanzania (Mkuju), Canada (Myoff Creek in British Columbia and Grand Codroy in Newfoundland).
- Strategic Acquisitions and Partnerships:
- Entered an earn-in agreement to acquire a 50 percent interest in the Cloncurry Gold project.
- Entered a joint venture in February 2025 with ASX-listed Cobalt Blue Holdings (CBH) whereby CBH can earn up to a 75 percent interest in the Koongie Park project in Western Australia.
- Formed a strategic partnership with large Beijing-based resources fund, Gage Capital in February 2025.
- AuKing is led by a highly experienced management team executing the company’s strategies to increase shareholder value.
Key Projects
Cloncurry Gold Project (Queensland, Australia)
In November 2024, AuKing Mining entered into an earn-in agreement with Orion Resources for the Cloncurry gold project in northern Queensland. This agreement allows AuKing to increase its stake in the project to 50 percent by investing AU$5 million in project funding by June 2027.
Orion’s Cloncurry Project interests, including the Mt Freda/Golden Mill mining leases. [Note the nearby Wynberg and Wallace/Wallace South gold projects are not assets being acquired by Orion]
A key component of this project is the Tick Hill Gold Joint Venture, involving AuKing, Orion Resources, and Tick Hill Mining, the current owner of the Tick Hill gold mine. The JV aims to establish a processing operation at Tick Hill, focusing initially on reprocessing the existing tailings stockpiles. A pre-feasibility study completed in 2020 outlined a processing capacity of 474,200 tonnes at 2 g/t gold over 13 months, yielding approximately 27,300 ounces of gold at an all-in sustaining cost (AISC) of AU$1,493 per ounce.
In March 2025, the JV partners signed a memorandum of understanding (MoU) to assess the viability of processing Tick Hill's tailings and other ore materials at the Lorena processing plant, located 15 km east of Cloncurry. This initiative aims to expedite the re-commencement of gold production in the region.
The JV also plans to evaluate the feasibility of reopening the historical open pit mine at Tick Hill, with the goal of extending the project's life and enhancing gold production. An independent preliminary economic assessment has concluded that the proposed tailings retreatment plan is both technically and financially viable, recommending progression to a final feasibility study.
Through these strategic initiatives, AuKing Mining is actively advancing the Cloncurry gold project, aiming to unlock significant value and establish a sustainable gold production operation in the Cloncurry region.
The Mt Freda Complex, covering an area of no more than 6 sq kms, looking from north-west to the south-east, 30kms south of the Lorena plant.
The Mt Freda Mining Complex is a key element in the proposed restart of mining operations at the Cloncurry Gold Project in northern Queensland. A comprehensive drilling program, consisting of an estimated 10,000 meters of combined diamond and reverse circulation (RC) drilling, is planned at Mt Freda to support the project’s development.
Koongie Park Copper-Zinc Project (Western Australia)
Koongie Park project (also known as Halls Creek project) lies within the highly mineralized Halls Creek Mobile Belt. The area also hosts the Savannah (Sally Malay) and Copernicus nickel projects, the former Argyle diamond mine and the Nicolsons gold mining operation of Pantoro Limited. Koongie Park is located about 25 kms southwest of the regional centre of Halls Creek on the Great Northern Highway in northeastern Western Australia.
In February 2025, AuKing entered into a earn-in agreement with Cobalt Blue (ASX:COB) whereby COB can earn up to 75 percent interest in the Koongie Park project.
The project contains three deposits of note: Onedin and Sandiego copper-zinc-gold deposits, and the Emull copper deposit.
Onedin and Sandiego are both in advanced exploration stages with a total mineral resource estimate of 4.8 Mt and 4.1 Mt, respectively, containing copper, zinc, gold, silver and lead. The Sandiego prospect boasts a scoping study (released in June 2023) that highlights an 11-year life of mine with a processing capacity of 750 ktpa and pre-production capex of $135 million for a 2.5 year payback. Economics highlight a pre-tax NPV of $177 million and 40 percent IRR.
The Emull base metal deposit has received significant drilling by previous owner Northern Star Resources several years ago and subsequently by AuKing in 2022. The deposit has a maiden resource estimate of 12.2 Mt, containing copper, zinc, lead and silver, with significant upside potential as more drilling is performed.
Mkuju Uranium Project (Tanzania)
Mkuju is situated immediately to the southeast of the world class Nyota uranium project that was the primary focus of exploration and development feasibility studies by then ASX-listed Mantra Resources (ASX:MRU). Not long after completion of feasibility studies for Nyota in early 2011, MRU announced a AU$1.16 billion takeover offer from the Russian group ARMZ. The takeover was finalised in mid-2011.
During the latter part of 2023, AuKing Mining completed a Stage 1 exploration program at Mkuju which comprised a combination of rock chip, soil geochemistry sampling, shallow auger drilling and initial diamond drilling. Some very encouraging results were obtained from this program which have formed the basis for a 11,000 m drilling program.
Board and Management Team
Peter Tighe – Non-executive Chairman
Peter Tighe started his career in the family-owned JH Leavy & Co business, which is one of the longest established fruit and vegetable wholesaling businesses in the Brisbane Markets at Rocklea. As the owner and managing director of JH Leavy & Co, Tighe expanded the company along with highly respected farms and packhouses that have been pleased to supply the company with top quality fruit and vegetables for wholesale/export for over 40 years. Tighe has been a director of Brisbane Markets Limited (BML) since 1999 and is currently the deputy chairman. BML is the owner of the Brisbane Markets site and is responsible for the ongoing management and development of its $400 million asset portfolio. As the proprietor of the site, BML has over 250 leases in place including selling floors, industrial warehousing, retail stores and commercial offices. BML acknowledges its role as an economic hub of Queensland, facilitating the trade of $1.5 billion worth of fresh produce annually, and supporting local and regional businesses of the horticulture industry.
Paul Williams – Managing Director
Paul Williams holds both Bachelor of Arts and Law Degrees from the University of Queensland and practised as a corporate and commercial lawyer with Brisbane legal firm HopgoodGanim Lawyers for 17 years. He ultimately became an equity partner of HopgoodGanim Lawyers before joining Eastern Corporation as their chief executive officer in August 2004. In mid-2006, Williams joined Mitsui Coal Holdings as general counsel, participating in the supervision of the coal mining interests and business development activities within the multinational Mitsui & Co group. Williams is well-known in the Brisbane investment community as well as in Sydney and Melbourne and brings to the AKN board a broad range of commercial and legal expertise – especially in the context of mining and exploration activities. He also has a strong focus on corporate governance and the importance of clear and open communication of corporate activity to the investment markets.
Mark Fisher – Non-executive Director
Mark Fisher is a highly accomplished resources executive with over 35 years of experience. His skills and experience include strategic business planning, feasibility, project management, organization design, mine engineering and mine management. Mark’s combination of skills and depth of experience has consistently produced profitable and sustainable outcomes in complex settings delivering increased shareholder value.
Mark’s extensive global leadership and operational experience includes senior positions with Placer Dome Inc and Barrick Gold Corporation over a period of decades. In his last corporate role, Mark was President of the Global Copper division for Barrick Gold Corporation, executing the development strategy for its portfolio of key copper assets in South America, Africa, Middle East and Asia.
Dr Kylie Prendergast – Non-executive Director
Kylie Prendergast is an experienced geologist and technical leader with more than 25 years’ experience within the international and resource sector. She currently holds the position of non-Executive Director at Helix Resources Limited (ASX: HLX) and has worked across a range of different operating jurisdictions, including significant in-country assignments and expatriate roles. This has included substantial business development, project technical and economic evaluation, and commercial management including direct interaction with a range of stakeholders in global resource capital markets.
Previously the Managing Director at leading industry consultant Mining Associates, Dr Prendergast has held senior leadership roles with Felix Gold Limited (Managing Director), Mawarid Mining (Oman – GM Exploration and Business development), Batu Mining (Mongolia – Senior Geologist) and Gold Fields St Ives (Project Generation Geochemist). Prior to that she worked in technical geology positions with BHP Billiton, Ivanhoe Mines (Mongolia) and North Limited.
Nick Harding – Non-Executive Director
Nick Harding is a Certified Practicing Accountant (FCPA) with extensive executive and senior management experience across the resources and agribusiness sectors in the areas of finance, commercial, corporate governance and company administration. He possesses significant experience in equity raisings, debt funding, management and statutory reporting, corporate governance, financial modelling and the preparation of feasibility studies.
Nick has held the roles of Executive Director, Chief Financial Officer, and Company Secretary through his professional services company for a number of ASX listed junior exploration companies over the past 16 years, taking some of these through to the evaluation phase and into development and production.
Prior to this, over a 20-year period, Nick has held senior finance management positions within WMC Resources, Normandy Mining/Newmont Australia and Beach Energy across various commodities including gold, copper, nickel, uranium, industrial minerals and oil and gas.
Chris Bittar – Exploration Manager
Chris Bittar was previously senior project geologist at Pantoro Limited’s Norseman Project in Western Australia, where he supervised the planning and execution of near-mine exploration and resource development programs as part of the Definitive Feasibility Study program at Norseman. Prior to his Pantoro role, Bittar held senior geologist roles with Millennium Minerals (Nullagine Gold project) and Pilbara Minerals (Pilgangoora Lithium project), and exploration geologist roles with Sumitomo Metal Mining Oceania and Northern Minerals (Browns Range rare earths project in WA). In these roles, Bittar gained extensive experience in taking projects from greenfield exploration to resource development and up to mine-ready feasibility study stage. This experience included supervision of multiple drilling campaigns, geological interpretation, data management and project reporting. Bittar has also maintained a strong commitment to company safety policies and procedures.
Paul Marshall – Chief Financial Officer and Company Secretary
Paul Marshall is a chartered accountant with a Bachelor of Law degree, and a post Graduate Diploma in Accounting and Finance. He has 30 years of professional experience having worked for Ernst and Young for 10 years, and subsequently twenty years spent in commercial roles as company secretary and CFO for a number of listed and unlisted companies mainly in the resources sector. Marshall has extensive experience in all aspects of company financial reporting, corporate regulatory and governance areas, business acquisition and disposal due diligence, capital raising and company listings and company secretarial responsibilities.
Advancing the Cloncurry Gold Project in North Queensland, while holding interests in copper, uranium and critical metals assets in other regions.
Purepoint Uranium
Investor Insight
Purepoint Uranium offers strong leverage to the rising uranium market through a high-impact portfolio in Canada’s Athabasca Basin. With exploration partnership alongside industry majors Cameco, Orano, IsoEnergy and Foran Mining – Purepoint is strategically positioned to deliver discovery success while minimizing dilution.
Overview
The Athabasca Basin in Saskatchewan is a globally recognized uranium district, offering unmatched grade, infrastructure and discovery potential. As governments and utilities increase investment in nuclear energy, exploration in Tier-1 jurisdictions like Saskatchewan is gaining renewed momentum.
With deep industry ties and a disciplined, technically driven approach, Purepoint Uranium (TSXV:PTU,OTCQB:PTUUF) is uniquely positioned to advance multiple high-priority assets in 2025. Key advantages include:
- District-scale exposure to high-potential uranium assets in the Athabasca Basin
- Lower financial risk through strategic joint ventures with Cameco, Orano, IsoEnergy and Foran Mining
- Operational control of exploration activities across its portfolio
- Strong alignment with the renewed push from major producers into uranium exploration
Company Highlights
- Strategic Positioning in the Athabasca Basin: A focused portfolio of advanced uranium projects in the world’s highest-grade uranium district, offering exceptional discovery potential.
- Strong Partnerships with Industry Leaders: Joint Ventures with Cameco, Orano, IsoEnergy, and Foran Mining provides financial strength, technical expertise, and third-party validation.
- Low-Dilution Growth Strategy: Strategic alliances reduce financial risk, enabling Purepoint to advance key assets while preserving shareholder value.
- Positive Outlook Amid Rising Uranium Demand: As global uranium demand surges, Purepoint is advancing high-priority targets aligned with renewed interest from major producers.
Key Projects
Hook Lake Project
Located in Saskatchewan’s Patterson Uranium District, the Hook Lake property spans 28,598 hectares and it is operated by Purepoint (21 percent), in a partnership with Cameco (39.5 percent), Orano (39.5 percent).
Key Highlights:
- Spitfire Discovery: 53.3 percent U₃O₈ over 1.3 metres, including 10 metres averaging 10.3 percentU₃O₈.
- Carter Corridor: 2024 drilling confirmed the Lightning Zone with 0.29 percent U3O8 over 0.9m (incl. 0.68 percent U3O8 over 0.3m).
- Forward Plan: Continued testing of Lightning Zone and northern extension of NexGen’s PCE discovery, where a key conductor extends ~1 km into the Hook Lake property.
Smart Lake Project
Purepoint operates and holds 27 percent of the Smart Lake project in a joint venture with Cameco.
The Smart Lake property comprises 9,860 hectares in the southwestern Athabasca Basin, located 60 km south of the former Cluff Lake mine and 18 km west of Purepoint’s Hook Lake JV.
Key Highlights:
- Shallow Depth(<350m): With geophysical similarities to Shea Creek, 55 km north, which hosts 68 million lbs U₃O₈ at 1.50 percent(UEC, Jan 2023).
- Exploration Potential: Purepoint has confirmed anomalous uranium and hydrothermal alteration.
- Structural Analogues: Uranium mineralization is linked to intersections of the east-west Arthur Fault and north-south features like the Shearwater conductor, similar to mineralization controls at Shea Creek.
- Target Development: Additional east-west faults (Groomes Lake, Cristobal) align with high-priority EM conductors.
- Drilling underway: four holes (~1,400 metres) targeting on high-conductivity zones at the Groomes Lake corridor.
Dorado Project
The Dorado Project is in the eastern side of the Athabasca Basin, positioned along the renowned Larocque Conductive corridor (the “Larocque Trend”), home to IsoEnergy’s Hurricane Deposit.
Key Highlights:
- Consolidates Four Projects: The project is a 50-50 percent joint venture with IsoEnergy and it consolidates Turnor Lake, Geiger, Edge and most of the Full Moon properties into a single high-priority exploration initiative
- Operator: Purepoint serves as the operator of the exploration venture.
- Q2 2025 Drill Program: 6,200 metres across 17 holes designed to test a series of graphitic conductors that wrap around a central granitic dome, with target areas prioritized based on a consolidated geological model that now includes both the Turnor Lake and Geiger regions.
Aurora Project
The Aurora Project, a 50/50 joint venture with IsoEnergy Ltd., is located along the eastern mine trend of the Athabasca Basin—an area known for its high-grade uranium deposits.
Key Highlights:
- Strategic Location: Positioned directly east of the Dorado Project and close to Orano’s past-producing JEB deposit and Cameco’s Eagle Point deposit.
- Consolidates Three Projects: Aurora includes portions of the Full Moon, Red Willow, and Collins Bay Extension properties, offering significant near-surface uranium potential near the McClean Lake and Rabbit Lake operations.
- Operator: Purepoint serves as the operator of the exploration venture.
- Geophysical Survey: An airborne geophysical survey is planned for 2025 covering the Collins Bay Extension and is intended to refine shallow targets in proximity to the McClean Lake and Rabbit Lake infrastructure.
Celeste Project
The Celeste Block Project, a 50/50 joint venture with IsoEnergy Ltd., and incorporates Thorburn (Celeste West), North Thorburn (Celeste North), Madison (Celeste East) and 2Z properties (Celeste South).
Key Highlights:
- Favourable Location: covers portions of conductor trends east of the Cigar Lake Mine and southwest of the Rabbit Lake and McClean Lake mines.
- Operator: Purepoint serves as the operator of the exploration venture.
- 2025 Drilling at Celeste East: initial drilling scheduled for late Q3 to focused on shallow conductor systems with ongoing geophysical refinement across the broader block at a later time.
Denare West
Located ~55 km WSW of Flin Flon, Manitoba, Denare West is a 21,066-hectare VMS exploration project identified by Purepoint in 2018 as highly prospective, positioned on strike with the Hanson Lake and McIlvenna Bay deposits.
Key Highlights:
- Optioned to Foran Mining under a $19 million earn-in agreement.
- Location: 9km from Foran Mining‘s McIlvenna Bay deposit (39 Mt @ 2.04 percent CuEq), on path to production.
- VTEM Max Survey (2025): The completed and interpreted a airborne EM survey over the Denare West project in February 2025 revealed multiple conductive anomalies aligned with the geologic horizon known to host VMS deposits in the region.
Tabbernor Project
The 100 percent-owned Tabbernor Project covers 79,463 hectares along the crustal-scale Tabbernor Fault System—a 1,500-kilometre-long crustal shear zone that extends north through the Athabasca Basin. This deep-seated structure hosts over 80 historic mines and gold showings and intersects the Basin’s primary uranium trend, aligning with eight of its largest uranium discoveries.
Key Highlights:
- Intersecting Major Uranium Trends: Aligned with eight of the Basins largest uranium discoveries
- 2025 Program: Follow-up activities will include boulder sampling, drilling, prospecting, and soil geochemical surveys.
Management Team
Chris Frostad - President, CEO and Director
With over 40 years of experience, Chris Frostad has led the growth and development of early-stage public and private companies across the technology and mining sectors. He has served as president and CEO of Minera Alamos and held director roles at Victory Capital (VIC) and Enthusiast Gaming Holdings (EGLX), as well as CEO-in-Residence at a Toronto-based venture capital firm.
Scott Frostad - VP of Exploration and Director
Scott Frostad has over 30 years of experience in the Canadian mining industry and has worked with top companies such as Lac Minerals, Teck, and Placer Dome. Most recently, he served as environmental specialist for Cogema Resources, managing environmental issues at the Cluff Lake and McClean Lake Uranium Mines in Northern Saskatchewan.
Ram Ramachandran - CFO
Before his position as CFO with Purepoint, Ram Ramachandran brings an 11-year tenure as deputy director and associate chief accountant with the Ontario Securities Commission. Most recently, Ramachandran provided advisory services in the area of litigation/compliance to numerous companies. To his credit, Ramachandran conceived, developed and launched the Canadian Securities Reporting Advisor – an online compliance tool for public companies.
Jhorose Cardenas - Director of Finance
Jhorose Cardenas is a Chartered Professional Accountant with extensive experience in public accounting, specializing in audits for SMEs, public sector agencies, Indigenous organizations, and not-for-profits. She has led financial reporting and compliance under ASPE, PSAS, and IFRS, including the implementation of new standards such as CAS 315 and IFRS 17.
Jeanny So - Corporate Communications
Jeanny So has over 20 years of experience in operations, investor relations, sales and marketing in the financial industry and has executed corporate communication programs for several private and publicly listed companies.
AuKing Mining Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects