Kairos Secures Nyamal Agreement

Key Concepts

• Mining Agreement: A legally binding agreement between a mining company (Kyros Minerals) and traditional land owners (Namel people) outlining benefits, cultural heritage protection, and project development framework.
• Mining Lease: A permit granted by the Western Australian government allowing the company to proceed with mining operations.
• Mineral Resource Estimate: An assessment of the quantity and quality of mineral deposits within a specific area, crucial for project valuation and development. Measured in ounces (oz) for gold.
• Feasibility Studies: Comprehensive investigations assessing the technical, economic, and environmental viability of a mining project.
• Milestone Payments & Royalties: Financial benefits provided to traditional owners as part of the mining agreement.
• Geotechnical Studies: Investigations into the physical properties of soil and rock to inform mine design and stability.
• Environmental Studies: Assessments of the potential environmental impacts of the mining project.

Signing of Mining Agreement & Project Development – Mount York Gold Project

The signing of a mining agreement with the Namel people regarding the Mount York gold project represents a significant milestone for Kyros Minerals. This agreement establishes a framework for potential future mining operations while prioritizing the protection of Aboriginal culture and heritage within the project area. Crucially, this agreement is a prerequisite for the granting of the mining lease, the next key step in the project’s development. The speaker emphasizes that this isn’t merely a procedural step, but a demonstration of Kyros Minerals’ commitment to partnering with the Namel people.

Benefits to the Namel People

The agreement extends beyond financial compensation. While it includes milestone payments and a royalty-based payment structure tied to commercial production, it also focuses on broader benefits for the Namel people. These include opportunities for participation in project contracts, starting potentially during the exploration phase, and direct employment opportunities throughout the exploration, development, and mining phases. Kyros Minerals explicitly welcomes the Namel people’s participation in the workforce. This holistic approach to benefit-sharing is highlighted as a key aspect of the agreement.

Exploration & Resource Growth – 2025 Drilling Program

Kyros Minerals has been actively engaged in extensive drilling at the Mount York project throughout 2025. Three drill rigs have been operating since April, accumulating a substantial amount of drilling data. This data will be instrumental in generating a new mineral resource estimate, anticipated to be released in the first quarter of 2026. The current resource stands at 1.4 million ounces of gold. The company’s ambition is to expand this resource significantly, aiming to establish the Mount York project as not only the largest undeveloped 3 million ounce gold project in the Pilbara region, but also one of the largest gold projects in Western Australia overall. The speaker anticipates a steady flow of news regarding drilling results leading up to the release of the new resource estimate.

2026 – Development & Feasibility Studies

The year 2026 is positioned as a critical period for transitioning the Mount York project from a resource project to an operating mine. While the granting of the mining lease is anticipated relatively quickly following the agreement with the Namel people, the bulk of the work will focus on detailed project development. This includes conducting comprehensive studies – environmental studies, geotechnical studies, and mining studies – which will form the foundation for detailed feasibility studies.

“The hard work starts now for all stakeholders in the project,” the speaker stated, emphasizing the significant effort required to progress the project. Geotechnical studies will analyze the physical properties of the ground to ensure safe and efficient mine design. Environmental studies will assess and mitigate potential environmental impacts. Mining studies will focus on optimal extraction methods.

Project Ambition & Team Support

The speaker expresses strong optimism about the project’s future, acknowledging the substantial workload ahead. They highlight the strength and dedication of the Kyros Minerals team, expressing confidence in their ability to deliver on the project’s ambitious goals. The overall ambition is to develop a significant gold mine in Western Australia, built on a foundation of strong partnerships and responsible development practices.