Successful Northern Territory Government Grant

First Development Resources plc (AIM: FDR), the UK-based, Australia-focused mineral exploration company, is pleased to announce that its wholly owned subsidiary, URE Metals Pty Ltd, has been selected as a successful recipient under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations ("GDC") Programme.

The Company has been awarded AU$100,000 (inclusive of GST) to support the Phase I Reverse Circulation ("RC") drilling programme at the Lander West Gold Target, part of the Company's flagship Selta Project in the Northern Territory, Australia.

HIGHLIGHTS

• AU$100,000 grant awarded under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations Programme.
• Non-dilutive funding to support the Company's maiden Phase I RC drilling programme at the Lander West Gold Target.
• Phase I programme fully funded, with drilling scheduled to commence in July 2026.
• Grant award provides independent validation of the technical quality and prospectivity of the Lander West gold target.
• Upcoming drilling represents the first meaningful test of the broader gold system at depth with much of the prospective geology remaining effectively untested below 50 metres.

Successful applicants under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations Programme were announced by the Minister for Mining and Energy, the Hon. Gerard Maley MLA, on 9 June 2026. Following the Minister's announcement, the Company is pleased to provide shareholders with details of the grant award and its intended application to the Company's maiden drilling programme at the Lander West Gold Target.

The Geophysics and Drilling Collaborations Programme is funded through the Northern Territory Government's Resourcing the Territory initiative and administered by the Northern Territory Geological Survey. The programme supports mineral exploration and new discoveries across the Northern Territory.

The grant funding will contribute towards the Company's maiden Phase I RC drilling programme at the Lander West Gold Target, which forms part of the Selta Project located within the highly prospective Aileron Province of the Northern Territory.

Importantly, the award represents both non-dilutive funding and independent recognition of the technical merit of the Company's exploration strategy at Lander West.

Tristan Pottas, Chief Executive Officer of FDR, commented:

"We are delighted to have been selected as a successful recipient under the Northern Territory Government's Round 19 Geophysics and Drilling Collaborations Programme. The award provides independent validation of the technical work completed to date and highlights the prospectivity of the Lander West Gold Target.

Over the past seven months, the Company has adopted a systematic and methodical approach to advancing Lander West from an initial concept to a drill-ready opportunity. The support provided by the Northern Territory Government and the Northern Territory Geological Survey represents an important endorsement of both the quality of our technical work and the potential of the project.

With all regulatory approvals secured and preparations progressing well, we look forward to commencing our maiden drilling programme in July. This programme will provide the first meaningful test of the Lander West Gold Target at depth and marks an important milestone in the development of what we believe could become a significant gold discovery for the Company and its shareholders.

On behalf of the Board, I would like to thank the Northern Territory Government and the Northern Territory Geological Survey for their continued support of mineral exploration and for fostering one of Australia's premier jurisdictions for exploration investment."

PHASE I RC DRILLING PROGRAMME

The Phase I RC drilling programme (Figure 1) represents the first meaningful test of the Lander West Gold Target at depth and has been designed to evaluate several high-priority gold targets associated with the Stafford Gold Trend, a recognised mineralised corridor located immediately south of the project area.

Target generation has been guided by the integration of historical geological and geochemical datasets together with several phases of modern geophysical surveying completed by the Company since late 2025. These datasets have identified multiple gold targets concealed beneath shallow cover.

Previous drilling within the target area was largely focused on commodities other than gold and was generally shallow in nature. Consequently, much of the prospective geology remains effectively untested below 50 metres, meaning the upcoming programme will provide the first meaningful assessment of the broader gold system at depth.

The initial programme is expected to comprise approximately 2,000 metres of RC drilling, with flexibility to expand the programme to approximately 3,000 metres subject to results.

The programme is fully funded and all regulatory approvals required to commence drilling have now been secured. Preparations are progressing ahead of the planned mobilisation of the drilling contractor in July 2026.

The Company looks forward to providing shareholders with further updates as drilling preparations advance and activities commence at the Lander West Gold Target.

Figure 1: Phase 1 Proposed Drillhole Locations on the Lander West Target.