MinRex Advances Fraser Range Drilling, Boosts Cash Reserves for New Growth

About Minrex Resources Limited

MinRex Resources Limited (ASX: MRR) is an Australian-based explorer with a diversified portfolio of gold and base metals assets in New South Wales and Western Australia. The company is actively progressing exploration at projects within the prolific Lachlan Fold Belt and Fraser Range regions, targeting high-value deposits including copper, gold, molybdenum, tungsten, and silver.

Strategic Progress and Exploration Outlook

MinRex Resources has achieved a major milestone at its Fraser Range Copper-Gold Project in Western Australia, completing a targeted drilling campaign across five high-priority zones. The company drilled a total of nine reverse circulation (RC) holes—covering 1,958 metres—across the Talisker, Glenmorangie, Oban, Benriach, and Glendronach prospects. These zones are considered highly prospective for Iron Oxide Copper-Gold (IOCG) and Broken Hill Type (BHT) mineralisation—deposit styles known to host globally significant resources such as those in the Nova-Bollinger and Gawler Craton regions.

The drilling program followed the successful completion of heritage surveys and secured regulatory approval under Western Australia’s Programme of Works (PoW) framework. This campaign is being executed in collaboration with West Cobar Metals (ASX: WC1) under an option agreement that allows MinRex to acquire a 50% stake in exploration licences E63/2078 and E63/2083, as well as basement mineral rights for E63/2056. These tenements lie within the Biranup Zone, a key structural corridor that extends the mineral-rich Fraser Zone and has been the focus of significant exploration interest due to its proven potential for IOCG-style systems.

Assay results from the recently completed drilling are expected in August 2025. These results will be used to guide follow-up work and assess the viability of progressing toward resource definition drilling or further geophysical investigations. The company’s exploration strategy continues to be driven by data-led targeting and disciplined capital allocation, supported by a clear understanding of regional geology.

Expanding the Growth Pipeline: Project Reviews and NSW Prospects

While the Fraser Range Project remained the operational focus this quarter, MinRex is also exploring new opportunities to expand its asset base. The company has confirmed it is actively reviewing several domestic and international projects to enhance its exposure to copper and other critical minerals that are essential to the global energy transition.

Field activity across its New South Wales assets was limited during the June quarter due to the prioritisation of Fraser Range. However, groundwork completed in previous periods—such as rock chip sampling, geological mapping, and structural analysis—has highlighted high-potential follow-up targets. These include the Sure Gift, Lagoon, Michells Creek, East Napolian, and Bushrangers prospects at Sunny Corner, along with areas within the Mt Pleasant and Sofala projects.

Future exploration at these sites will benefit from insights gained during current campaigns and will be evaluated against broader strategic objectives, including mineral diversity, infrastructure access, and potential for joint venture partnerships.

Financial Position: Strong Cash Base and Targeted Spending

MinRex continues to maintain a robust financial position, ending the June 2025 quarter with a cash balance of $8.9 million. During the period, the company raised $227,351 through the shortfall placement of 129.5 million MRRO options, issued as part of its Loyalty Option Offer. Each option is exercisable at 2 cents and expires on 20 January 2030. Proceeds from the offer were allocated to working capital and administrative costs associated with the offer itself.

The company’s total exploration and evaluation spend for the quarter was $541,221, with the majority directed toward activities in Western Australia. MinRex reported no outstanding borrowings and continued to operate with strict financial discipline, maintaining low corporate overheads and no production or development expenditures.

This financial strength enables the company to continue exploration without immediate capital constraints and supports flexibility in pursuing new asset evaluations or advancing current tenements.

Strategic Positioning in High-Potential Mineral Regions

MinRex’s projects are situated within Australia’s most prospective geological provinces for copper and gold. The Fraser Range tenements lie within the Biranup Zone—a known IOCG frontier—offering potential for discoveries similar to those found in neighbouring tenements. Meanwhile, its New South Wales portfolio is anchored in the East Lachlan Fold Belt, home to several producing gold and base metal mines and substantial historical discoveries.

As the global mining sector shifts its focus toward critical minerals and secure supply chains, MinRex’s asset locations—combined with a diversified project mix—position the company to benefit from macroeconomic and geopolitical trends favouring domestic mineral development.

Outlook: Assays to Shape Next Steps

Looking ahead, MinRex is well-positioned for a catalyst-rich second half of 2025. The company expects to receive assay results from its Fraser Range drilling program in August, which will be instrumental in defining the next phase of exploration.

With a strong cash reserve, active project evaluation pipeline, and exposure to high-demand minerals, MinRex is advancing with confidence as it works toward unlocking long-term shareholder value across its exploration portfolio.