Far East Gold Ltd (FEG.AX) Completes Idenburg Scoping Study, Highlighting High-Grade Sua Gold Resource

Brisbane, Aug 25, 2026 AEST (ABN Newswire) - Scoping Study identifies a Sua-led conceptual development pathway and recommends 6,085 metres of resource-definition drilling across Sua, Bermol and North Bermol.

Far East Gold Ltd (ASX:FEG) (FEGDF:OTCMKTS) has completed an independent Scoping Study for its Idenburg Gold Project in Papua and Papua Pegunungan Provinces, Indonesia, outlining a conceptual development pathway centred on the high-grade Sua prospect.

HIGHLIGHTS

- At a 3.0 g/t Au cut-off on the Sua grade-tonnage curve, the Sua inferred Mineral Resource Estimate contains approximately 390,000 ounces at an average grade of 9.2 g/t Au. This represents approximately 76% of Sua's contained gold within approximately 24% of its tonnage.

- The independent JORC Mineral Resource Report describes Idenburg as offering nearsurface, high-grade open-pit resources. Historical Sua drilling includes 16 m at 8.49 g/t Au from surface, including 1 m at 105 g/t Au. The Study establishes a staged conceptual openpit pathway, and Sua is approximately 5 km from the Trans-Irian Highway.

- The Study modelled two distinct development cases: Sua standalone and staged expansion from Sua into Bermol and North Bermol. Both were evaluated at US$3,300/oz and a 9% discount rate, and both supported progression. The cases used only independently estimated JORC inferred Mineral Resources; Mafi's inferred MRE and all Exploration Targets were excluded.

- Preliminary Sua metallurgical testwork returned approximately 95% gold recovery through whole-ore CIL and gravity-CIL testing. The Study adopted a more conservative 92% recovery assumption and a conventional gravity-CIL processing route.

- A recommended 73-hole, approximately 6,085-metre drilling program across Sua, Bermol and North Bermol is designed to increase geological confidence within and around the conceptual development areas and test extensions. At Sua, 26 holes for approximately 2,840 metres target the main high-grade corridor and conceptual pit area.

- The Study establishes a pathway from targeted drilling to a potential updated MRE and, subject to results and further technical work, the next study stage and potential future disclosure of project economics. This work also supports FEG's contractual pathway to increase its ownership from 51% to 80%.

IDENBURG SCOPING STUDY

The Study, prepared by PT Mining One Indonesia, evaluated two conceptual development cases: a standalone development at Sua and a staged expansion from Sua into the Bermol and North Bermol prospects. Both cases were assessed using a gold price of US$3,300 per ounce and a 9% discount rate, with mining costs tested across a range of 40% below to 40% above the base estimate. The Company said both cases supported progression, although no production targets or financial outcomes have been disclosed.

At a 3.0 grams-per-tonne gold cut-off on Sua's grade-tonnage curve, the prospect's inferred Mineral Resource contains approximately 390,000 ounces of gold at an average grade of 9.2 g/t Au. This represents about 76% of Sua's contained gold within approximately 24% of its tonnage.

The high-grade subset forms part of Sua's independently estimated JORC 2012 inferred Mineral Resource of 5.6 million tonnes at 2.9 g/t Au for 514,000 ounces of gold. Far East Gold emphasised that the 390,000-ounce figure is an unconstrained grade-tonnage presentation and is not an Ore Reserve, mineable inventory or production target.

Study findings

The Scoping Study identified near-surface mineralisation, conceptual open-pit potential, preliminary metallurgical results and proximity to existing transport infrastructure as key elements supporting the Sua-led pathway.

Sua is located approximately 5 kilometres from the Trans-Irian Highway. Historical drilling includes 16 metres at 8.49 g/t Au from surface in hole KSD013, including 1 metre at 105 g/t Au. Other selected historical drill results include 9.8 metres at 13.77 g/t Au from 18.5 metres in KSD023 and 35.5 metres at 8.59 g/t Au from 23.5 metres in KSD024, including 0.8 metres at 252.5 g/t Au.

Preliminary metallurgical testwork on three Sua composite samples returned gold recoveries of approximately 95% through whole-ore CIL and gravity-CIL testing. The Scoping Study adopted a more conservative 92% gold-recovery assumption for internal evaluation and selected a conventional gravity-plus-carbon-in-leach processing route to produce gold dore.

The proposed conceptual flowsheet includes crushing, SAG and ball milling, gravity recovery and intensive leaching, CIL, electrowinning and smelting. Cyanide detoxification and filtration leading to conceptual dry-stack tailings disposal were selected for further assessment.

Next work program

Mining One recommended a 73-hole drilling program totalling approximately 6,085 metres across Sua, Bermol and North Bermol. The program is intended to improve geological confidence within and around conceptual pit areas, test mineralisation extensions and support a potential update to the Mineral Resource Estimate.

The proposed program comprises:

- Sua: 26 holes for approximately 2,840 metres, including 50-metre-spaced infill, step-out and down-dip drilling, plus two twin holes.

- Bermol: 28 holes for approximately 2,600 metres, including infill and extension drilling and one twin hole.

- North Bermol: 19 holes for approximately 645 metres, including shallow infill and extension drilling and one twin hole.
The Company said there is no certainty the program will lead to an increase in resources or the classification of any resources as Indicated or Measured.

Far East Gold holds a 51% interest in PT Iriana Mutiara Idenburg, which holds the 95,280-hectare Idenburg Contract of Work. Under its Conditional Share Purchase Agreement, Far East Gold has a contractual pathway to lift its interest to 80% upon completing and delivering an Indonesian Feasibility Study to the vendors by 31 December 2027.

The project's current JORC 2012 inferred Mineral Resource totals 7.8 million tonnes at 3.1 g/t Au for 780,000 ounces of contained gold across Sua, Bermol, North Bermol and Mafi. Mafi and all Exploration Targets were excluded from the Scoping Study modelling.

Chief Executive Officer Shane Menere's comments:

"This Scoping Study is an important milestone because it has given us a clear starting point for Idenburg's conceptual development pathway-and that starting point is Sua.

Sua already hosts an inferred MRE containing 514,000 ounces of gold, including a compelling high-grade concentration of approximately 390,000 ounces at an average grade of 9.2 g/t Au based on a 3.0 g/t Au cut-off on the grade-tonnage curve. Combined with near-surface mineralisation, conceptual open-pit potential, strong preliminary metallurgical recoveries, a conventional processing route and close proximity to the Trans-Irian Highway, we believe Sua provides a strong foundation from which to advance the broader Idenburg Gold Project.

The Scoping Study has also defined what we need to do next. Mining One Consultants have recommended 73 holes for approximately 6,085 metres across Sua, Bermol and North Bermol. The initial phase would focus on Sua, with 26 holes for approximately 2,840 metres designed to increase geological confidence within and around the main high-grade corridor and conceptual pit area, while testing extensions and opportunities for resource growth.

Our objective is for the drilling to support an updated MRE with portions classified as indicated and potentially measured. If successful, that greater geological confidence, together with further technical work, would position Idenburg for next-stage evaluation and could provide the reasonable basis required to disclose project economics.

For us, the Study is not the endpoint-it establishes the development pathway. Importantly, neither conceptual development case relies on Mafi or any Exploration Targets, while the broader district-scale Idenburg system retains significant exploration upside."

View the video summary with CEO Shane Menere at:
https://fareast.gold/link/rv7WbP

*To view complete Idenburg Update announcement, including tables and figures, please visit:
https://abnnewswire.net/lnk/P6108A33

About Far East Gold Ltd

Far East Gold Ltd (ASX:FEG) (OTCMKTS:FEGDF) is an Australian junior exploration company led by some of the biggest names in Australian mining. The company has secured the commercial rights for the acquisition, exploration and development of six advanced gold and copper projects in Indonesia and Australia. The Company is underpinned by combined JORC resources of 1.54Moz gold and 190Mlb copper, with ongoing drill programs aiming to significantly increase these resources.

  

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