Oracle Power Achieves Key Milestone with Native Title and Mining Agreements for Kalgoorlie Gold Project

Native Title Agreements Clear the Path for Mining Lease at Northern Zone, Kalgoorlie

Oracle Power has ticked off a major box at its Kalgoorlie Gold Project, announcing it has executed a Deed for Grant of Mining Tenement and a Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group. These agreements cover tenements M25/389 and P25/2848, which include the Northern Zone Gold Project, 25 km east of Kalgoorlie.

This is the kind of milestone that moves a project from paperwork to real-world progress. In plain English: Oracle and its partner Riversgold now have a clearer, cooperative framework with Traditional Owners that supports the conversion of the ground to a mining lease and sets out how work can proceed responsibly.

What Was Signed and Why It Matters

Native Title agreements are essential in Australia. They recognise the rights of Traditional Owners and outline how exploration and mining activities will be conducted, including processes to identify and protect cultural heritage.

• Deed for Grant of Mining Tenement and a Land Use Agreement executed with the Marlinyu Ghoorlie Native Title Claimant Group.
• Covers Northern Zone and surrounding project areas across tenements M25/389 and P25/2848.
• Sets out protocols for heritage surveys, safeguards for site protection, and streamlined mining lease grant and activity clearance procedures.

In practice, this reduces uncertainty for Oracle and Riversgold as they push towards mining lease status. It also strengthens social licence – the trust and consent to operate – which is increasingly critical for timelines and investor confidence.

Ownership, Funding and Profit Split: Who Gets What

Ownership at Northern Zone is straightforward. Riversgold owns 80% and Oracle owns 20%, following Riversgold’s option exercise in February 2025 under a 2023 farm-in agreement. A farm-in is where a partner earns a project stake by funding exploration or development to agreed milestones.

On funding, Oracle and Riversgold have a separate, binding Right to Mine and Co-Operation Agreement with MEGA Resources. MEGA will fund 100% of development and mining costs at Northern Zone, including all ancillary costs such as haulage, haul road maintenance and processing.

In return, profits are split 50% to MEGA and 50% to the Project Owners. Given Riversgold holds 80% and Oracle 20% of the project ownership, Oracle is entitled to 20% of the owners’ 50% share – which equates to 10% of project-level profits. That is a clean, low-capex route for Oracle: no upfront mine spend, but a smaller economic slice.

Item	Details
Project	Northern Zone Gold Project, 25 km east of Kalgoorlie
Tenements	M25/389 and P25/2848
Native Title group	Marlinyu Ghoorlie Native Title Claimant Group
Ownership	Riversgold 80%, Oracle Power 20%
Funding	MEGA pays 100% of development and mining costs, including haulage, haul road maintenance and processing
Profit split	50% to MEGA, 50% to the Project Owners
Oracle’s effective share	10% of project-level profits (20% of the owners’ 50% share)
Target timeline	Company aims to open up Northern Zone to gold production in 2026 with MEGA
Status	Native Title agreements executed – key step towards granting a mining lease

Why This Is a Big Step for Project Delivery

These agreements create a predictable framework for surveys, site protection and clearances, which are often the gating items for moving from exploration to mining. The RNS explicitly calls this an important milestone for the granting of a mining lease.

Combined with MEGA’s commitment to carry 100% of development and mining costs, the pathway to near-term production looks more achievable without Oracle having to raise heavy capex. That is a meaningful de-risking from a funding perspective.

2026 Production Ambition and What Comes Next

Oracle states it aims to open up Northern Zone to gold production in 2026 with MEGA. To get there, the sequence includes conversion of the tenements to a mining lease, completion of required heritage surveys, and the usual permitting and operational preparations under the new agreements.

The RNS does not disclose a detailed schedule, resource or reserve figures, grades, mine plan or processing route. It also does not disclose expected production volumes or unit costs. Those will be the value drivers to watch as the company advances work under the new framework.

Positives, Watch-outs and My Take

What looks positive

• Native Title agreements executed – a cornerstone step that supports mining lease grant and smoother field operations.
• Full funding by MEGA for development and mining – reduces dilution and execution risk for Oracle.
• Clear profit-sharing structure – 50% to MEGA, 50% to owners, with Oracle’s 20% ownership translating to 10% of project-level profits.
• Stated goal of 2026 production – gives a near-term catalyst if permits and execution align.

What to keep an eye on

• Conversion to mining lease – this is flagged as the next key step; timelines are not disclosed.
• Project economics – no resource, grade, throughput or cost metrics provided in this RNS.
• Execution under the heritage framework – surveys and clearances will be central to keeping the timeline intact.

Context: Where Northern Zone Sits

The project lies about 25 km east of Kalgoorlie, in a district synonymous with the Kalgoorlie Golden Mile and Fimiston “Super Pit” referenced in the RNS materials. Location does not replace economics, but it helps that Northern Zone is in a world-class gold jurisdiction with established infrastructure and permitting regimes.

Jargon Buster

• Native Title – the recognition of Traditional Owners’ rights to land and waters in Australia. Agreements set out how activities proceed and how cultural heritage is protected.
• Tenement – a legal title to explore or mine over a defined area of land.
• Mining lease – the permission to conduct mining operations on a tenement, typically following exploration and approvals.
• Farm-in – a deal where a party earns a project stake by funding work to agreed milestones.
• Right to Mine agreement – a contract granting the right to mine, setting who funds what and how profits are shared.

Key Takeaways for Oracle Investors

• Milestone achieved: Native Title agreements in place with Marlinyu Ghoorlie for Northern Zone and adjacent areas.
• Funding secured at the project level: MEGA will pay 100% of development and mining costs, including haulage and processing.
• Simple economics: Profits are split 50% to MEGA and 50% to the owners; Oracle owns 20% of the project, implying 10% of project profits.
• Eyes on 2026: Oracle is aiming to commence production with MEGA in 2026, subject to mining lease grant and operational readiness.
• Next disclosures to watch: mining lease progress, heritage survey outcomes, and hard numbers on resources, costs and production.

Overall, this RNS reads as a constructive de-risking step. The agreements deliver clarity on approvals and funding, which are often the two biggest hurdles to near-term gold production. The real test now is pace – getting the mining lease granted and lining up the operational plan for 2026.