Legal Delays Stall Triton’s Graphite Sale as Drilling Progress Slows at Aucu

Exploration Progress at Aucu

Triton Minerals Limited has provided a detailed update on its maiden drilling campaign at the Aucu Gold-Copper Project in Mozambique. Since commencing in November 2025, the program has faced slower-than-anticipated progress due to technical difficulties and challenging ground conditions. Despite these setbacks, early geological observations have been encouraging, with quartz veining, sulphide mineralization, and copper oxide presence aligning well with the company's exploration model.

To date, the drilling has covered 1,094 meters across 25 targets, focusing on priority areas within the project's exploration licenses. These initial findings suggest the potential for significant gold-copper mineral systems, though laboratory assay results, expected in early 2026, will be crucial to confirm the extent and grade of mineralization.

Operational Support and On-Site Management

Recognizing the operational challenges, Triton's Chief Operating Officer and Executive Director, Adrian Costello, has taken a hands-on approach by traveling to Mozambique. His presence aims to directly support drilling crews, optimize equipment performance, and strengthen logistics and local management. This proactive engagement is intended to stabilize operations and improve drilling efficiency for the remainder of the program.

Additionally, the company is committed to responsible development, engaging with local communities to ensure sustainable progress at the Aucu site.

Graphite Asset Sale and Legal Delays

Separately, Triton continues to advance the sale of a 70% interest in its graphite assets. The process has been complicated by ongoing legal proceedings with the counterparty NQM1, which have now been postponed until February 2026. The company is actively working to satisfy remaining conditions precedent and prepare for project handover, with COO Costello also supporting these efforts on-site.

While the delay introduces some uncertainty around the timing of the transaction's completion, Triton remains focused on resolving outstanding issues and keeping shareholders informed of material developments.

Looking Ahead

Investors will be watching closely for the release of assay results early next year, which will provide a clearer picture of the Aucu Project's potential. Meanwhile, the resolution of legal matters surrounding the graphite asset sale will be pivotal in unlocking value from that transaction. Triton's dual focus on operational excellence and strategic asset management underscores its commitment to advancing shareholder interests amid a complex and evolving landscape.