Idenburg Scoping Study Advance, Drilling to Commence

Far East Gold Limited (FEG or the Company) is pleased to announce that the Company’s Scoping Study for its Flagship High Grade Gold Project – Idenburg is well progressed. The Company engaged Mining One Consultants to complete a Scoping Study for potential mine development options at the Company’s Idenburg gold project, located in West Papua.

The Company has recently completed an updated JORC Mineral Resource Estimate for Idenburg, delivering a 44% increase to 780,000 ounces of gold at 3.1 g/t Au following the Company’s recent drilling program.

HIGHLIGHTS:

· The Idenburg Scoping Study is well advanced, assessing potential development options for the project to inform the Company’s ongoing evaluation of a pathway toward a potential Indonesian Feasibility Study targeted for late 2026.

· The Idenburg JORC Mineral Resource increased 44% to 780,000 ounces of gold @ 3.1 g/t Au following recent drilling.

·  The next phase drill program at the Sua prospect is scheduled to commence shortly and is designed to support mine planning, economic modelling and resource confidence upgrades as part of the Company’s broader pathway toward a potential Indonesian Feasibility Study, subject to results.. 

·  The Company continues to consider staged development concepts, including the assessment of potential early development scenarios and associated technical and project‑level risks as part of the Scoping Study.

The Study will assess capital and operating cost estimates, mine design, infrastructure, tailings management, and approvals, with a focus on assessing potential start-up and longer-term development scenarios.

Managing Director & CEO Shane Menere commented: “This Scoping Study is an important step in advancing our understanding of the development potential at Idenburg. The study will evaluate a range of development options, including staged approaches and potential early production scenarios, and support the Company’s ongoing assessment of a pathway towards a long-life operation.

Importantly, the next phase drill program at Sua is being designed not only to continue growing the resource base, but also to increase resource confidence and support future mine planning and economic studies as we progress toward an Indonesian Feasibility Study.

With a materially larger high-grade resource now defined, strong metallurgical outcomes, improving permitting conditions and direct infrastructure access, we believe Idenburg is continuing to demonstrate the characteristics of a potentially significant long-life gold development project within one of the world’s premier mineral belts.”