Dalaroo to Acquire Advanced Gold Project in Cote D’Ivoire, West Africa

Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to advise that it has entered into a binding joint venture agreement (“Agreement”) with Reflex Exploration (“Vendor”) to acquire up to an 80% interest in the Bongouanoa Gold Project (“Project”) located in the Sefwi-Come´ Birimian Greenstone Belts in Cote D’Ivoire, West Africa (Figure 1).

Highlights

• Dalaroo Metals to acquire up to 80% interest in the Bongouanoa Project in Cote D’Ivoire comprising a 400km² application permit located in the richly gold endowed Sefwi-Comé Belts. Dalaroo will be leveraging years of historical exploration data, includes field mapping & artisanal workings, soil geochemistry, air core drilling, and diamond drilling results.
• A total of 28 historic diamond drill holes produced significant gold intercepts including:
  • BODD00021 17m @ 6.79g/t Au from 113m incl; 3m 34.29g/t Au from 123m
  • BODD00016 18m @ 1.28g/t Au from 70m and 30m @ 0.61g/t Au from 33m
  • BODD00017 9m @ 1.71g/t Au from 39m and 4m @ 1.55g/t Au from 57m
  • BODD00010A 2m @ 60.47g/t Au from 39m
  • BODD00001 4m @ 2.63g/t Au from 23m and 1m @ 12.51g/t Au from 90m
  • BODD00022 5m @ 1.48g/t Au from 80m
  • BODD00002 4m @ 1.60g/t Au from 48m
  • BODD00020 2m @ 2.29g/t Au from 70m
• A total of 94 shallow aircore holes have been drilled with significant results including:
  • BOAC00043 4m @ 9.24g/t Au from 24m
  • BOAC00084 4m @ 2.08g/t Au from 36m
  • BOAC00035 4m @ 1.23g/t Au from 36m
• 151 rock chip samples highlight the high-grade nature of the gold mineralisation with results including:
  • 70.68g/t Au
  • 68.55g/t Au
• A 16km X 10km gold in soil anomaly with additional parallel soil anomalies has delineated multiple drill targets that are yet to be drill tested.
• 15 active & inactive artisanal mining sites require testing and the northern portion of the tenement is yet to be explored with modern exploration techniques.
• Mr Yao (Fred) N’Kanza, a local Ivorian shareholder of the Bongouanoa Project, previously had success as a vendor and country manager of Tietto Minerals Limited’s (ASX: TIE) Abujar Gold Mine (3.83m oz Au resource). Mr N’Kanza was also one of the two vendors of the Boundiali Gold Project of Aurum Resources, which has now progressed to a significant project with a resource of 1.59M oz @ 1g/t Au.
• Dr Paul Kitto to join Dalaroo as a special advisor. Dr Kitto served as a Non-Executive Director at Tietto Minerals Limited from January 2019 until 2024. In 2024, Tietto Minerals was acquired by Zhaojin Capital, a subsidiary of Zhaojin Mining, in a deal valued at approximately A$733 million. Dr Kitto was also responsible for the Seguela (1M oz Au) and Doropo (2.9M oz Au) discoveries in Cote d’Ivoire.
• Dalaroo is actively seeking to further expand its exploration footprint in Cote D’Ivoire, building out its local technical team and engaging with well-respected local industry representatives to grow in country.
• Dalaroo’s entry into Cote D’Ivoire places the Company in a successful group of ASX-listed gold companies which are actively exploring and developing projects in country including: Perseus Mining, Turaco Gold, Many Peaks Minerals, African Gold and Aurum Resources.

The Project has had significant historical exploration conducted including soil geochemistry, rock chip sampling and extensive aircore and diamond drilling. The historic work returned significant gold mineralisation that represent immediate follow up targets for Dalaroo to test.

Dalaroo Metal’s Chairman, David Quinlivan, commented “The significant and encouraging results from prior exploration work undertaken at the Bongouanoa Project provides a unique opportunity for Dalaroo to build a substantial gold exploration and project development base in the highly prospective Sefwi-Comé Belts in Cote D’Ivoire and I am very much looking forward to our exploration team commencing work on the ground.”

Dalaroo Metal’s CEO, Chris Connell, commented “I am excited about this transformative acquisition in Cote d’Ivoire, West Africa. This region has become a highly attractive jurisdiction for the identification and definition of significant gold resources, evidenced by recent successful exploration and development projects including the likes of Tietto Minerals who’s Abujar Gold Project in a few short years has gone from a project not dis- similar to Bongouanoa Gold Project to an eminent producing gold mine. We are particularly encouraged by the historical drilling results at several locations within the acquired area, which have yielded broad gold intercepts. The project also presents substantial exploration potential across the property.

“The Bongouanoa Project provides our company with a solid base of prior exploration success in Cote d’Ivoire, offering the opportunity to rapidly delineate substantial high-grade gold resources. A significant portion of the project area has already been covered by systematic gold-in-soil geochemistry and high-resolution geophysics. This work has identified areas of gold mineralisation that have been confirmed through drilling. Building on this existing data, Dalaroo is well-positioned to quickly identify and drill test prospective targets, as well as to further investigate previous gold discoveries. Our team brings extensive operating experience in West Africa and has already established a highly skilled local technical team ready to commence work immediately.

“We believe this acquisition represents a transformative step for the company, and we look forward to providing further updates as we rapidly explore the Bongouanoa Project.”

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