Rokeby announces 20-year licence renewal for Omeo Gold Project

Rokeby Resources has secured a crucial 20-year renewal for Mining Licence MIN 4921 (ML 4921), a key component of its Omeo Gold Project in Victoria, Australia, ensuring tenure until May 2044. This extension strengthens the company's control over the Mt Wills goldfield, home to the Maude and Sunnyside deposits with a historical estimate of 320,000 ounces of gold at 4 grams per tonne, enabling robust long-term exploration and development strategies. The renewal provides a solid foundation for Rokeby to advance its high-grade gold asset amidst a dynamic global commodities market.

Melbourne, Australia – May 18, 2026 – Rokeby Resources, an emerging player in the Australian minerals sector, has announced a pivotal development for its recently acquired Omeo Gold Project in Victoria. The company has successfully secured a 20-year renewal for Mining Licence MIN 4921 (ML 4921), extending its operational tenure until May 13, 2044. This significant administrative milestone, granted under the Victorian Mineral Resources (Sustainable Development) Act 1990, provides Rokeby Resources with long-term stability and a robust platform to advance its exploration and development initiatives within one of Australia's historically prolific gold mining regions.

The renewal of ML 4921 is not merely a bureaucratic formality; it represents a material enhancement to the Omeo Gold Project's value proposition and Rokeby’s strategic positioning. Mining licences, particularly those with extended durations, are fundamental to securing investment, planning multi-year operational schedules, and demonstrating regulatory confidence in a project's viability. For a junior mining company like Rokeby Resources, a 20-year extension signifies a profound commitment from the Victorian government and underscores the project's potential to contribute to the state's resource economy for decades to come.

Strategic Imperative: Securing Long-Term Tenure

In the notoriously capital-intensive and time-consuming mining industry, security of tenure is paramount. The successful renewal of ML 4921 for such an extended period alleviates a significant degree of geopolitical and operational risk for Rokeby Resources. It ensures that the company can plan for phased exploration campaigns, undertake comprehensive resource definition drilling, conduct detailed feasibility studies, and eventually consider mine development, all within a predictable regulatory framework. This long-duration licence allows the company to focus its resources on technical and operational advancements rather than on near-term permitting renewals.

Trevor Benson, CEO of Rokeby Resources, encapsulated the importance of this development, stating, “The renewal of ML 4921 for a further 20 years is an outstanding outcome for Rokeby and materially strengthens the long-term value proposition of the high-grade Omeo Gold Project. Securing long-duration tenure over the core resource area provides the company with a strong platform to execute our exploration and growth strategy with confidence.” His statement highlights the direct correlation between secure tenure and the ability to confidently pursue ambitious exploration and development goals.

The Omeo Gold Project: A High-Grade Asset in Victoria

The Omeo Gold Project is situated within the Mt Wills goldfield, an area with a rich history of gold production in eastern Victoria, Australia. The project encompasses several key prospects, notably the Maude and Sunnyside deposits, which are covered by the renewed ML 4921. Victoria itself boasts a storied legacy of gold mining, dating back to the 1850s gold rush, and continues to be a significant contributor to Australia's gold output, underpinned by world-class deposits such as those in the Bendigo and Ballarat regions. The state's geological endowment, coupled with a well-established mining services industry and clear regulatory guidelines, makes it an attractive jurisdiction for gold exploration and development.

Central to the Omeo project's appeal is its historical mineral resource estimate. Previously disclosed by Rokeby Resources in April 2026, this estimate points to approximately 320,000 ounces of gold at an average grade of four grams per tonne (4 g/t). For context, an average grade of 4 g/t gold is considered high-grade by industry standards, particularly for undeveloped or brownfield projects. Such grades often indicate lower operational costs per ounce and potentially more robust economic returns compared to lower-grade, bulk-tonnage operations.

Navigating Resource Estimates: JORC Compliance and Future Work

It is important for investors and industry professionals to note that while the 320,000-ounce historical estimate provides a significant indication of the project's potential, it is currently "not reported in compliance with the Joint Ore Reserves Committee Code (2012)." The JORC Code, widely recognized internationally, sets stringent standards for the public reporting of exploration results, mineral resources, and ore reserves. Its purpose is to ensure transparency, materiality, and competence in reporting, thereby providing a high degree of confidence for investors and regulatory bodies.

The fact that the estimate is historical and not JORC-compliant means that Rokeby Resources will need to undertake significant due diligence, infill drilling, and geological modeling to bring this estimate up to current JORC standards. This typically involves:

Verification of Historical Data: Reviewing and validating existing drilling, sampling, and assay data.
New Drilling Campaigns: Conducting strategic drilling programs to confirm historical intercepts, infill gaps in existing data, and extend known mineralisation.
Modern Geological Interpretation: Re-interpreting the geological models using current understanding and software.
Robust QA/QC (Quality Assurance / Quality Control): Implementing rigorous protocols for sampling, assaying, and data management.
Independent Competent Person Reporting: Engaging a qualified professional to sign off on the resource estimate according to JORC guidelines.

The renewal of ML 4921 directly supports Rokeby’s strategy to undertake these critical steps. With a stable long-term tenure, the company can now allocate resources with confidence towards the extensive work required to convert the historical estimate into a JORC-compliant resource, a crucial step for de-risking the project and attracting further investment or development partners.

Exploration Upside and Development Pathways

Beyond the established historical estimate, the Omeo Gold Project presents substantial exploration upside. Historical drilling efforts across the Mt Wills goldfield have already yielded multiple high-grade intercepts, indicative of significant mineralisation. Crucially, the source material notes that this mineralisation remains open along a substantial 5.8-kilometer zone. This implies that the known gold mineralization has not been fully delineated and could extend considerably, offering significant potential for resource expansion.

The Sunnyside deposit has been specifically identified as a high-priority target for future exploration. Rokeby Resources aims to commence drilling at Sunnyside promptly, following the conclusion of acquisition processes and the necessary permitting procedures. Such targeted exploration campaigns are designed not only to increase the existing resource size but also to enhance the overall understanding of the geological controls on mineralisation, which is vital for efficient mine planning and extraction.

The CEO, Mr. Benson, further elaborated on the project's multifaceted potential, stating, “Importantly, the renewed mining licence covers a historically productive high-grade goldfield with substantial exploration upside, existing infrastructure and with multiple potential development pathways to be assessed.” The mention of existing infrastructure is a critical factor that can significantly reduce capital expenditure and accelerate development timelines. Historically productive goldfields often benefit from pre-existing access roads, power lines, water sources, and sometimes even residual processing facilities, all of which can drastically impact a project’s economic viability. Rokeby’s strategy will involve evaluating various development pathways, which could range from conventional open-pit or underground mining scenarios to more innovative processing solutions, depending on the characteristics of the refined ore body.

Broader Industry Implications and Future Outlook

This licence renewal positions Rokeby Resources strongly within the competitive Australian gold market. With gold prices exhibiting robust performance driven by global economic uncertainties, geopolitical tensions, and inflationary pressures, projects with demonstrated high-grade potential are increasingly attractive to investors. Secure, long-term tenure over a promising asset like Omeo can translate into enhanced corporate valuation and improved access to capital for future growth initiatives.

For the broader mining industry, Rokeby’s success in securing this licence renewal exemplifies the critical role of sound regulatory frameworks and government support in fostering mineral development. Victoria’s Mineral Resources (Sustainable Development) Act 1990 provides a clear pathway for companies to operate, balancing resource extraction with environmental and community stewardship. The renewal serves as a positive signal for other active and prospective operations within the state.

Looking ahead, Rokeby Resources' immediate priorities will undoubtedly center on:

Execution of Drilling: Initiating and completing the planned drilling at the Sunnyside deposit and other high-priority targets.
Resource Definition: Advancing the historical estimate towards JORC compliance through comprehensive data collection and geological modeling.
Development Evaluations: Commencing preliminary economic assessments (PEA) or scoping studies to evaluate potential development scenarios and capital requirements.
Stakeholder Engagement: Maintaining strong relationships with local communities, Indigenous groups, and government authorities to ensure smooth project progression.

The 20-year licence renewal for ML 4921 is a foundational achievement for Rokeby Resources, embedding the Omeo Gold Project as a cornerstone asset for the company. It provides the necessary stability and confidence for Rokeby to aggressively pursue its exploration and growth strategy, potentially unlocking significant value from a high-grade gold asset in a proven mining jurisdiction for decades to come. The industry will keenly watch Rokeby’s progress as it transitions from securing tenure to defining and de-risking its promising gold resources.