White Energy Launches Drilling at Specimen Hill and Advances Coal Tech Trials in South Africa

Specimen Hill Drilling Underway

White Energy Company Limited has initiated a core drilling program at its Specimen Hill Project in Central Queensland, marking a significant milestone in its exploration efforts. The company secured Queensland ministerial approval to register the transfer of farm-in tenements in October 2025, enabling it to hold a 51% interest after meeting expenditure commitments ahead of schedule. Early field observations have identified a complex mineral system with promising copper and gold mineralisation, including porphyry, iron oxide–copper–gold (IOCG), and skarn styles.

The drilling campaign, expected to last around six weeks, targets geophysical and geochemical anomalies to better understand the size and nature of mineralisation. Initial rock chip sampling has returned encouraging copper grades up to 1.32% and gold values peaking at 13.7 grams per tonne, underscoring the project's potential.

Tindal Project Exploration Advances

In the Northern Territory, White Energy continues to analyse extensive ionic soil sampling data from its 100%-owned Tindal Project, which spans over 11,600 square kilometres. Collaborating with the Institut national de la recherche scientifique (INRS), the company is integrating seismic tomography and geophysical data to map deep crustal structures that may host mineral deposits. Follow-up sampling in priority areas such as Manbulloo and Sever is ongoing, with previous surveys revealing multi-element anomalies including copper, gold, rare earth elements, and strategic battery metals.

These findings reinforce Tindal's prospectivity for base and precious metals critical to a decarbonised future. Further geophysical surveys and sampling are planned to refine drill targets for the 2026 dry season.

Progress on Binderless Coal Briquetting Technology

White Energy’s coal technology division is advancing its exclusive worldwide license of the Binderless Coal Briquetting (BCB) technology, which upgrades low-quality, high-moisture coals into higher energy briquettes without binders. The technology offers environmental and operational benefits by enabling cleaner combustion and improved mine yield.

Commercial trials in South Africa, conducted through White Energy’s 51%-owned subsidiary River Energy JV Limited and its partner Proterra Investment Partners, continue to produce successful briquettes from coal fines. A small commercial demonstration plant is in development to support broader adoption. Given the estimated billion tonnes of coal tailings in South Africa, this technology presents a significant opportunity to recover value and reduce environmental liabilities.

Financial and Corporate Overview

During the quarter, White Energy reported exploration expenditures of $415,000 across its Australian projects and maintained a cash balance of $1.987 million. The company is managing its funding through a combination of receivables recovery from a Chapter 7 bankruptcy process related to a former subsidiary, equity raisings, and shareholder loans from minority partners in its joint ventures.

Notably, the company’s UK subsidiary entered voluntary liquidation, with associated loans expected to be forgiven, streamlining the corporate structure. Payments to related parties, including directors and associated companies, were disclosed and conducted on commercial terms.

White Energy continues to leverage cutting-edge research collaborations with INRS, integrating machine learning and deep crustal geophysics to enhance exploration targeting. This innovative approach aims to identify Tier 1 mineral systems vital for the global energy transition.