Resolution Minerals Ltd (RML.AX) FY2026 Report: Advancing Horse Heaven Exploration, Metallurgical and Permitting Activities

Adelaide, Oct 1, 2026 AEST (ABN Newswire) - Resolution Minerals completed the acquisition of the Horse Heaven Project in Idaho, advanced drilling and metallurgical programs, and completed institutional placements during the year ended 30 June 2026.

Resolution Minerals Ltd (ASX:RML) (NC3:FRA) (RLMLF:OTCMKTS) reported on its activities and financial results for the year ended 30 June 2026, during which it completed the acquisition of a 100% interest in the Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, USA, advanced exploration across Golden Gate and Antimony Ridge, and completed institutional placements totalling A$45.1 million before costs.

Resolution completed the acquisition of the Horse Heaven Project on 29 July 2025. During the financial year, the Company commenced diamond drilling, undertook geological modelling and surface sampling, progressed metallurgical test work across antimony, tungsten and gold, and acquired the Johnson Creek processing site and historical tungsten stockpiles.

At Golden Gate, Resolution commenced its maiden diamond drilling program at Horse Heaven in August 2025 and commenced a Phase 2 drilling program in May 2026 under its existing exploration permit.

The Phase 2 program comprised up to 13,000 metres (45,000 feet) of diamond drilling across up to 45 holes, targeting Golden Gate North and Golden Gate South. Two diamond drill rigs were mobilised during the June quarter, with drilling underway at 30 June 2026.

Phase 1 drilling at Golden Gate North returned intersections including:

- 253.0m @ 1.50g/t Au from surface, including 111.9m @ 2.31g/t Au from 130.5m in HH-GG250-003C;

- 197.5m @ 1.26g/t Au from 34.0m in HH-GG25-001C; and

- 265.2m @ 0.60g/t Au from surface in HH-GG25-002C.

Follow-up Phase 2 drilling identified gold mineralisation at Golden Gate South, approximately 1.5km along strike from Golden Gate North. Tungsten mineralisation was also identified in HH-GG25-012R, which returned 8m @ 0.14% W from 79.3m within a broader interval of 21m @ 0.80g/t Au.

At Antimony Ridge, systematic rock chip and soil sampling returned rock chip assays of up to 49.8% Sb, 1.420g/t Ag and 4.43g/t Au. Soil geochemistry identified an approximately 1,000m by 700m antimony-gold-silver anomaly.

Three-dimensional geological modelling identified more than 100 antimony-silver veins represented by approximately 30 mineralised vein swarms, fault breccias and stockworks across an area of approximately 1,000m by 700m and 250m vertically.

Metallurgical test work during the year included the production of an intermediate antimony trioxide product grading 99.38 wt% SB2O3 from historical stibnite material sourced from Antimony Ridge using conventional pyrometallurgical processing methods. Follow-up flotation test work on lower-grade material achieved sulphide recoveries of up to 99.5%.

Initial metallurgical test work on Golden Gate composite drill core samples returned gold recoveries of up to 95.5% from oxide material through conventional cyanide leaching and up to 88.7% from sulphide material through flotation.

Preliminary gravity separation test work on historical tungsten stockpile material produced concentrates grading up to 52.3% WO3, with recoveries of up to 75.5%.

On 27 February 2026, Resolution acquired a 25-acre private landholding comprising five patented mining claims adjacent to the claims that form the initial Horse Heaven Project. The acquisition included the Johnson Creek Antimony and Tungsten Mill, stockpiles of tungsten ore, the Antimony Camp, industrial water rights and electrical infrastructure.

In April 2026, Antimony Ridge was granted FAST-41 Transparency Coverage by the U.S Federal Permitting Council. The designation supported Resolution's planned permitting pathway, including applications for expanded drilling and large-scale bulk sampling activities.

FUNDING AND FINANCIAL POSITION

In September 2025, Resolution completed an institutional placement raising A$25.1 million before costs. This was followed by an A$2 million strategic placement to Tribeca Investment Partners in October 2025.

In April 2026, Resolution completed a further A$20 million institutional placement, cornerstoned by Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund. Funds were directed toward Golden Gate drilling, metallurgical test work, permitting activities and evaluation of downstream processing opportunities across Horse Heaven.

Resolution also completed the sale of its non-core 64North Project in Alaska in February 2026 to a wholly owned subsidiary of Northern Star Resources Limited for US$1.5 million in cash.

The Company reported a loss for the year of $53,316,618, compared with a restated loss of $6,033,416 for the year ended 30 June 2025.

Net cash used in operating activities was $17,947,997 and net cash used in investing activities was $10,364,334 for the year ended 30 June 2026.

Cash and cash equivalents at 30 June 2026 were $10,343,353, compared with $1,171,241 at 30 June 2025. Total assets were $87,705,356, total liabilities were $3,365,313 and net assets were $84,340,043 at 30 June 2026.

The financial statements have been prepared on a going concern basis. The Company stated that continuation as a going concern is dependent upon its ability to generate sufficient net cash inflows from operating and financing activities and manage the level of exploration and other expenditure within available cash resources.

The Company stated that, if it is unsuccessful in implementing one or more of its funding options, such circumstances would indicate that a material uncertainty exists that may cast significant doubt as to whether the Company will continue as a going concern and therefore whether it will realise its assets and discharge its liabilities in the normal course of business and at the amounts stated in the financial report.

SUBSEQUENT EVENTS

On 17 August 2026, Resolution appointed Brett Lynch as a Non-Executive Director.

On 9 September 2026, U.S. time, trading in the Company's American depositary shares commenced on the Nasdaq Capital Market under the ticker code RML.

*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/OSBVRI5T

Editorial Note:

This media release has been independently prepared by ABN Newswire editorial staff based on Resolution Minerals Ltd Annual Report for 2026. It is intended as an editorial summary of information disclosed in that report and should be read in conjunction with Resolution Minerals Ltd full ASX announcement. All financial, operational and post-reporting-period information in this editorial has been sourced from the Company's report.

About Resolution Minerals Ltd

Resolution Minerals Ltd (ASX:RML) (OTCMKTS:RLMLF) (FRA:NC3) is a mineral exploration company engaged in the acquisition, exploration and development of precious and battery metals - such as antimony, gold, copper, and uranium. 

Resolution Minerals Ltd Listed on the ASX in 2017 and has a broad portfolio of assets, such as the Drake East Antimony-Gold Project in north-eastern NSW and George Project prospective for silica sand and uranium.

    

Related Companies

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.