Additional Option Exercise at Darlot West
Cloudbreak Discovery Plc is exercising its option to acquire an additional land package at the Darlot West Gold Project, increasing its landholding fivefold and positioning it near significant gold mines. The company has secured this expansion for GBP5,000 and 11,000,000 ordinary shares, with the shares to be issued upon regulatory approval. Recent gold sampling results at Darlot West have shown grades up to 65.75 grams per tonne, exceeding expectations and reinforcing the company's belief in the asset's potential to add shareholder value.
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Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market listed company, is pleased to confirm that it will be exercising the option to acquire the additional land package at the Darlot West Gold Project ("Darlot West"). This is in addition to the initial land package option exercised on 22 September 2025 and increases the land held at Darlot West by five times.
Darlot West is located only 10km southwest of the iconic Darlot Gold Mine in Western Australia with production of 2.8 million ounces of gold produced to date, and 25km north of Northern Star Limited Thunderbox Gold Mine with annual production of 232koz and resource of 4.7Moz and Reserve of 1.96Moz gold. (Figure 1).
Tom Evans, Cloudbreak's MD, commented; "Our due diligence on this asset has proved the very significant gold potential of the area and agreeing to finalising this acquisition is a great result for the Company. We consider this to be a very positive and fortunate milestone for the Company, to have secured this tenure located between two of the most iconic goldmines in the area. Excellent results from our own recent gold sampling gave us significant gold grades with results up to 65.75 grams per tonne (over 2 ounces per tonne), and our sampling results have far exceeded our initial expectations. This confirms our view that this asset will ultimately be a cornerstone asset of the Company and add shareholder value over the coming year."
"Should the future drilling programmes determine a significant gold resource at Darlot West next year, we will have the choice of two possible treatment plants within a 20km radius, for potential toll treatment . We remain bullish on the gold price heading into 2026, and we see a bright future for our shareholders pursuing this Western Australian gold strategy."
Commercial terms of the Darlot expansion option exercise:
The final consideration for this option period is GBP5,000 and 11,000,000 ordinary shares in the Company ("Shares"). The Vendors have agreed that the Shares will only be issued when the Company has the ability to do so under applicable regulations and the Company is currently working with its advisers to prepare an FCA approved prospectus to enable their issue.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.