49 Metals begins 3,500m Gold Mountain Project drilling

• 49 Metals has commenced a fast-tracked 3,500-metre follow-up drilling programme at its Gold Mountain project in Nevada.
• The company share price was unchanged at $0.10 following the announcement.
• The campaign aims to test mineralisation continuity and expand the Adit Zone discovery.

49 Metals (ASX:49M) has begun a fully funded 3,500-metre reverse circulation drilling programme across 10 to 11 holes at its Gold Mountain Project in Nevada.

The initial follow-up campaign builds on a maiden 22-hole programme completed earlier in 2026, where every hole intersected gold or silver mineralisation.

"It's great to have the rig turning again at Gold Mountain following our decision to fast-track this programme," said 49 Metals Managing Director Phil Carter.

The new drilling targets extensions along strike and down dip while infilling areas of known mineralisation, following past intercepts including 170.7 metres at 0.9 g/t gold.

Following the announcement, the 49 Metals share price was unchanged at $0.10.

The Gold Mountain asset is situated within Nevada's Walker Lane Trend, a region recognised for hosting significant precious metal deposits.

49 metals listed on the ASX in March after raising $10 million in its initial public offering to fund its exploration portfolio.