Team Veye October 12, 2026

First Au Secures Binding Deal to Acquire Ida Valley Gold Project

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First Au Limited (ASX: FAU) has announced on 12 October 2026 that it executed a binding agreement to acquire the prospective Ida Valley Gold Project from TechGen Metals.

The transaction will cover two Western Australian exploration licences (E 29/1053 and E 36/1015) which are situated in the emerging Ida Fault district. Under the agreement, First Au will pay $100,000 cash as an exclusivity fee and issue $100,000 in FAU shares priced on a 15 day VWAP which are subject to shareholder approval under ASX Listing Rule 7.1 and required ministerial consents.

The company highlighted that the tenure was secured due to substantial prior exploration with plans to advance the historical datasets toward a defined economic resource.

Management stated the acquisition aligns with its strategy to expand existing regional project hubs through targeted and value accretive tenure additions.

FAU noted that the deal includes comprehensive past drilling records for both the Pinnacles and Ida Valley targets, allowing the company to fast track early stage exploration.

First Au intends to focus immediate capital on validating this archival data to establish an accelerated, low cost pathway toward a maiden JORC compliant Mineral Resource.

(Source: Company Announcements)

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