Gibb River Diamonds Limited has initiated a grade control reverse circulation (RC) drilling program at the Neta Prospect within its flagship Edjudina Gold Project in Western Australia. The initial phase of drilling, totaling 2,246 metres, has been completed, with further drilling planned in a Phase 2 program that will build on these initial results. The company will release detailed results from both phases as they are compiled, which will offer additional technical insight into the mineralisation and guide future mine planning. The drilling program is a key precursor to open pit mining at Neta and is being conducted under a Mining Agreement with BML Ventures Pty Ltd, a private contractor responsible for all mining-related capital and operating costs. This arrangement means that Gibb River Diamonds Limited carries minimal financial exposure while still standing to benefit from future production, as any net surplus cash—after project expenses have been reimbursed—is to be shared equally between the company and BML Ventures. The project, which is supported by an existing JORC (2012) Resource estimate of 378,000 tonnes at 1.9 g/t gold (including an indicated component of 110,000 tonnes at 2.2 g/t for 8,000 oz gold), is ideally positioned with access to nearby gold processing facilities. In addition, the project benefits from significant exploration potential along a 13km strike that includes historic high-grade gold workings. Looking ahead, Gibb River Diamonds Limited is awaiting the grant of a Mining Proposal permit from the Western Australia Mines Department. Should this permit be issued, the company anticipates that mining operations may commence by August 2025, contingent on BML Ventures’ decision to move forward. The absence of forward sales agreements means that all production will be sold into the spot gold market, thereby exposing the project to prevailing gold prices while offering potentially favorable market returns. There is a bullish sentiment around the project, as the successful completion of Phase 1 drilling and the expected commencement of Phase 2 suggest a positive progression towards commercial mining. The minimal financial risk to Gibb River Diamonds Limited, due to the fully-funded mining arrangement by BML Ventures, along with the strategic location and significant resource base, are seen as strong positives. Conversely, the bearish perspective centers on the reliance on regulatory approval from the WA Mines Department and the inherent risks in moving from exploration to full-scale mining operations, which could delay anticipated timelines and affect near-term project milestones.