Premier1 Lithium Limited (ASX:PLC) has announced the completion of agreements to acquire 100% ownership of the Yalgoo Gold Project in Western Australia. Premier1 Lithium is focused on discovering high-value assets with precision and efficiency. They are now focused on advancing their gold and copper prospects to deliver value for shareholders. The acquisition finalises the purchase of the remaining interests from Bright Point Gold Pty Ltd and Critica Limited. The Yalgoo Gold Project is located within Western Australia’s Yalgoo-Singleton Greenstone Belt.
The acquisition includes approximately 266 square kilometres of prospective greenstone stratigraphy, including the Wadgingarra Gold Prospect. Wadgingarra hosts an Inferred Mineral Resource of 150kt @ 2.7g/t Au for 13koz Au, with mineralisation open to the north into ground held by Ramelius Resources Ltd. The terms of the agreement see Premier1 acquire full ownership of all project tenements for $230,000 in PLC shares and $50,000 in cash.
Executive Director Simon Phillips commented that consolidating 100% ownership simplifies the ownership structure, granting the company full control over exploration, development, and capital allocation across a highly prospective gold portfolio. Securing the remaining interests on modest and structured terms demonstrates the disciplined approach to portfolio consolidation. Phillips will transition from Non-Executive Director to Executive Director on 1 February 2026.
Premier1 has also announced a placement to raise $650,000 before costs at an issue price of $0.006 per share. Proceeds will advance exploration activities at the Yalgoo Project and for general working capital purposes. The company has also agreed to issue an aggregate of 42,721,320 Performance Rights to the Directors, subject to shareholder approval. These rights vest upon achieving volume weighted average share prices of $0.010 and $0.020 for 20 consecutive trading days.
