Kalgoorlie Gold Mining

Investor Insight

Kalgoorlie Gold Mining offers investors a compelling proposition through its strategic focus on low-cost gold exploration in Western Australia's prolific Eastern Goldfields, highlighted by its Lighthorse high-grade gold discovery at the Pinjin project.

Overview

Kalgoorlie Gold Mining (ASX:KAL) is a technically driven explorer targeting multi-million-ounce gold systems in the Eastern Goldfields of Western Australia. Through rigorous geophysical interpretation, structural targeting and systematic drilling, the company applies modern exploration techniques to historically overlooked terranes, with a focus on discovering concealed gold deposits beneath shallow cover.

At the heart of this strategy is the flagship Pinjin project, positioned along the underexplored southern extension of the Laverton Tectonic Zone, a prolific regional gold corridor responsible for more than 30 Moz of production. The company has already defined a maiden JORC 2012 inferred resource of 76,400 oz (2.34 Mt @ 1.0 g/t gold) at the Kirgella Gift and Providence prospects, confirming the presence of shallow mineralisation and validating its targeting model. Pinjin also hosts the Lighthorse discovery, where drilling has confirmed thick, high-grade mineralisation beneath shallow cover, reinforcing the broader potential of the district.

Numerous additional structural targets have been identified across the project area, the majority of which remain untested. In 2025, Kalgoorlie Gold continued to advance its strategy through expanded drilling and geophysical work at Pinjin, with recent RC and diamond programs completed and assays pending.

Complementing Pinjin is the Bulong Taurus project, 35 km east of Kalgoorlie, which hosts the La Mascotte deposit with a JORC inferred resource of 138,000 oz of gold (3.61 Mt @ 1.19 g/t gold) and a pipeline of satellite targets. While secondary in priority, the project provides additional exploration and development optionality.

To date, Kalgoorlie Gold has tested only a small portion of its extensive target inventory but has already achieved a strong rate of discovery success. As the company expands its exploration programs, it continues to position itself as a compelling, discovery-leveraged gold explorer in one of Australia’s most productive mineral provinces.

Company Highlights

• District-scale Positioning: Kalgoorlie Gold controls an expansive, underexplored land package in the Laverton Tectonic Zone, south of major operations like Sunrise Dam and Wallaby and just 20 km north of the planned Rebecca gold mine.
• Lighthorse Discovery: Thick, high-grade gold intercepts under shallow cover confirm a significant greenfields discovery, with potential for resource definition and scale.
• JORC Resource Established at Pinjin: An initial 76,400 oz gold resource at Kirgella Gift and Providence validates the company’s targeting strategy.
• Systematic Exploration Success: More than 5,898 m of RC drilling and 1,155 m of diamond drilling were completed in November 2025 across multiple Pinjin targets. Assays are pending.
• Experienced Leadership: Matt Painter, managing director, brings deep structural geology expertise and a strong history of generating successful exploration targets globally.
• Favorable Market Tailwinds: With gold trading near all-time highs, Kalgoorlie Gold offers leveraged upside through discovery-driven valuation re-rates.

Key Projects

Pinjin Project

The Pinjin project covers more than 350 sq km and is situated within the southern extension of the Laverton Tectonic Zone, a crustal-scale shear corridor accounting for more than 30 Moz of historical production. Kalgoorlie Gold’s initial work has focused on the Kirgella Gift and Providence prospects, where the company has defined an inferred JORC 2012 resource of 2.34 Mt @ 1.0 g/t gold for 76,400 oz. Mineralisation remains open at depth and along strike.

The company has completed extensive geophysical interpretation, mapping and drilling to identify additional structural corridors and targets across the broader project area. The recent 2025 exploration included a major round of RC and diamond drilling across several priority targets, supported by new SAM geophysical data. These programs aimed to refine structural understanding and advance multiple prospects simultaneously, with assays pending.

Pinjin remains the company’s central growth asset, with a pipeline of targets to be progressed through ongoing drilling and geophysical work.

Lighthorse Discovery

The Lighthorse prospect is the company’s most significant greenfields discovery to date within the Pinjin project area. Drilling has confirmed thick, high-grade gold mineralisation beneath shallow cover in altered mafic volcanics. Standout RC intercepts include 2.2 g/t gold over 23 metres, 3.1 g/t over 14 metres and 6.5 g/t over 7 metres, occurring within a well-developed alteration system featuring quartz–carbonate veining, sulphides, bleaching and supergene enrichment.

Mineralisation has now been mapped over at least 1.45 km of strike, and remains open along strike and at depth. The most recent 2025 drilling campaigns included substantial step-out and infill drilling at Lighthorse, designed to better define mineralised zones and support future resource work, with assays pending.

Lighthorse remains the highest-priority prospect for follow-up work, including additional RC drilling, downhole geophysics and structural analysis aimed at bringing the discovery toward a maiden resource estimate.

Bulong Taurus Project

Located just 35 kilometres east of Kalgoorlie-Boulder, the Bulong Taurus project offers near-term optionality and brownfields upside. The project hosts the La Mascotte deposit, which contains a JORC 2012 inferred mineral resource of 138,000 oz at 1.19 g/t gold. This outcropping resource is located within the historical Taurus Goldfield and is surrounded by a suite of satellite targets, historical workings and underexplored geophysical anomalies. The geology is characterized by a mix of felsic and mafic volcaniclastic units, cut by northeast-trending structures favorable for gold deposition. Kalgoorlie Gold has undertaken mapping, sampling and historical data reprocessing to refine targeting, and is currently working with Traditional Owners to secure heritage clearances for further exploration. Planned future activities at Bulong Taurus include RC drilling to test extensions of La Mascotte, soil and geophysical surveys across adjacent prospects, and evaluation of development or joint venture options depending on resource scale and continuity. While not the company’s primary focus, Bulong Taurus offers strategic exposure to additional ounces near existing infrastructure.

Management Team

Dr. Matt Painter – Managing Director & Chief Executive Officer

Dr. Matt Painter is a geologist with over 25 years of experience in mineral exploration and project development. He holds a BSc (Hons) and a PhD in geology. Before joining Kalgoorlie Gold Mining, Painter served as general manager of exploration at Ardea Resources Limited, where he played a pivotal role in advancing the company's gold and nickel projects. His expertise lies in structural geology and the discovery of concealed mineral systems, which is instrumental in driving Kalgoorlie Gold Mining's exploration strategy.

Graeme Smith – Chief Financial Officer & Company Secretary

Graeme Smith brings more than 30 years of financial and corporate governance experience to Kalgoorlie Gold Mining. He holds a Bachelor of Economics and is a Fellow of the Chartered Institute of Secretaries, a Fellow of CPA Australia, and a Fellow of the Chartered Secretaries Australia. Smith has held senior financial roles across various ASX-listed companies, providing strategic financial oversight and ensuring compliance with corporate regulations.

Pauline Gately – Non-executive Chair

Pauline Gately is an accomplished non-executive director with over a decade of board experience across the mining, financial technology and consumer goods sectors. Her board contributions are underpinned by 20 years in investment banking, encompassing senior roles in investment strategy, economics and funds management. Gately is a graduate and member of the Australian Institute of Company Directors and holds a BA (Hons) in Economics and a Graduate Diploma in Accounting. She also serves as a non-executive director of Ardiden Limited.

Andrew Penkethman – Non-executive Director

Andrew Penkethman is a geologist with more than 25 years of technical and corporate experience in the resources sector. He has worked across exploration, feasibility studies, and operations within Australia and internationally. Penkethman is currently the managing director and CEO of Ardea Resources, bringing valuable insights into project development and strategic planning to the board of Kalgoorlie Gold Mining.

Scott Herrmann – Exploration Manager

Scott Herrmann oversees Kalgoorlie Gold’s exploration programs across its project portfolio. With a strong background in geology and mineral exploration, Herrmann plays a critical role in target generation and drill program execution, contributing to the company's discovery success.