The Government of Sarawak grants the extension of ML 05/2012/1D, subject to conditions to be specified.
The extension ensures the continuity of the tenure of the Jugan deposit within the Bau Gold Project.
Besra will continue its positive engagement with the local authorities regarding the renewal terms for the Mining Lease and promote the status of other applications within the Bau Gold Project.
The Board of Besra Gold Inc (ASX: BEZ,OTC:BESAF) (“Besra” or “the Company”) is pleased to announce that the Government of Sarawak has granted the extension of Mining Lease ML 0520121D, with formal terms yet to be provided.
ML 05/2012/1D covers the Jugan deposit area within the Bau Gold Project in Sarawak, Malaysia, and represents the first phase in the renewal of the company’s broader regional ownership position within the promising Bau gold district. The lease is strategically located within the wider project area and has been subject to technical review, reflecting its importance in the context of the company’s wider development strategy at district level.
The extension ensures continuity of ownership over the Jugan area and confirms the Government of Sarawak’s recognition of Besra Gold’s commitment to continue its technical, environmental and stakeholder engagement programs within the renewed lease term.
Besra intends to continue constructive cooperation with the relevant authorities regarding:
The formalization and clarification of the renewal conditions;
The administrative procedure that applies to other previously submitted renewals of Mijnlease; And
Alignment of regulatory requirements with project planning activities.
No guarantees can be made at this time as to the outcome or timing of other renewal applications.
The board has consistently identified title security as a high risk to the company and its plans to advance the development of the Bau Gold Project. The extension of ML 05/2012/1D and the security of ownership of the Jugan deposit represent an important step in meeting this requirement and provide greater clarity on the company’s most important asset.
This is the first mining lease extension secured since Besra’s listing on the ASX in October 2021 and follows extensive discussions with government agencies and stakeholders.
The company acknowledges and appreciates the consideration given by the Government of Sarawak in granting this extension.
Non-Executive Chairman, Dr John Blake, said:
“The renewal of ML 05/2012/1D represents a significant milestone for Besra. Security of ownership reduces project risk and is fundamental to progress towards commercial development at Bau. With this renewal in effect, we can now allocate resources to systematic, technically driven assessments across the Bau corridor to advance our portfolio in a disciplined and responsible manner.
We appreciate the positive engagement of the Government of Sarawak and look forward to continuing the constructive dialogue on the remaining extension applications. The governance and stakeholder engagement measures introduced by the Board of Directors in December 2025 are delivering positive results and achieving their strategic intentions.”
The company will continue to work with the relevant authorities to clarify the renewal terms and further process the remaining applications, reducing regulatory and operational risks to enable disciplined development of Bau Goldfield’s assets in accordance with regulatory, environmental and market requirements.
Further updates will be provided as material developments occur.
This announcement has been approved for publication by the board of directors of Besra Gold Inc.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285207
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