How Sierra Nevada Gold Plans to Unlock Saudi Arabia’s Hidden Copper-Gold Giant

Strategic Expansion into Saudi Arabia’s Mineral Frontier

Sierra Nevada Gold (ASX – SNX) has taken a significant step forward in its growth strategy by securing the advanced As Safra copper-gold project in Saudi Arabia. The award follows a competitive tender process managed by the Kingdom’s Ministry of Industry and Mineral Resources (MIMR), positioning SNX to capitalize on one of the world’s most underexplored yet highly prospective mineral provinces.

The As Safra project spans a substantial 375 square kilometres within the Arabian Shield, a geological region renowned for its rich mineral endowment. This district-scale project hosts a large-scale copper-gold skarn system, with historic surface rock chip samples returning exceptional grades of up to 244 grams per tonne gold and 11% copper. These figures underscore the project’s potential to host high-grade mineralisation.

Historic Data Highlights Untapped Potential

Exploration to date has been limited but encouraging. Historic drilling conducted by the French Geological and Mining Research Bureau (BRGM) in the late 1960s included seven core holes totaling 2,060 metres. These intersected significant sulphide copper mineralisation, including intercepts such as 5 metres at 4.07% copper and 24.55 metres at 1.69% copper. The mineralised strike length extends over 5.5 kilometres, with mineralisation remaining open along strike and at depth beneath thin sand cover.

Complementing the drilling data, extensive rock chip sampling from ancient mine workings and slag dumps has delineated a continuous copper-gold mineralised corridor. Historic geophysical surveys reveal multiple chargeability anomalies interpreted as sulphide bodies, many of which remain untested, offering promising targets for future drilling campaigns.

Aligning with Saudi Arabia’s Vision 2030

SNX’s entry into Saudi Arabia aligns closely with the Kingdom’s Vision 2030 initiative, which prioritizes mining as a key pillar for economic diversification. The Saudi government has introduced attractive incentives, including exploration expenditure reimbursements and infrastructure support, to encourage foreign investment. SNX has already been granted a Saudi investment licence and is establishing a local subsidiary, Arabian American Minerals, to hold exploration and mining licences.

High-level government engagement has been positive, and SNX plans to showcase its Saudi and Nevada projects at the Future Mining Forum in Riyadh in January 2026. This event is a major platform for mining investment and partnership development in the region.

Next Steps – Systematic Exploration and Drilling

With the Letter of Award secured, SNX is advancing towards obtaining full exploration licences expected in early 2026. The company has initiated exploration programs to refine and prioritise drill targets, leveraging the rich historic data and new geophysical insights. Systematic drilling campaigns are planned to test high-priority targets across the extensive As Safra mineralised footprint.

The project complements SNX’s existing portfolio of copper and gold assets in Nevada, providing a geographically diversified pipeline of discovery opportunities. Seasonal fieldwork synergies between Nevada and Saudi Arabia could optimize exploration efficiency.