Red Mountain Mining Limited has advanced its exploration program at the Kiabye Gold Project, uncovering eleven alluvial gold nuggets during a 1,000‐meter reverse circulation drilling campaign. The nuggets were discovered by the company’s geology team using a handheld metal detector during a rain delay in an area known as Reef 1, where an exposed quartz reef lies near the intersection of a northeast–southwest trending fault and a northwest–southeast trending fault within the Narndee Igneous Complex. Although these visible nuggets, which collectively weigh about 23 grams, have not yet been assayed, their metallic appearance suggests high gold purity. Local soil sampling in the vicinity has returned anomalous readings, including values of 9 parts per billion gold, indicating the potential for further mineralisation. The drilling program at Kiabye is targeting both northern and southern zones. At Kiabye North, high-resolution magnetic data identified two prominent northeast trending linear anomalies that are believed to correlate with dipping magnetite-bearing quartz veins—a structural control commonly associated with gold mineralisation. In contrast, the Kiabye South area has shown historical evidence of gold with rock chip and soil sampling results, including previous reports of gold assays from shallow RAB drill holes. Current plans include four drill holes along a north–south magnetic target where anomalous soil samples have reached up to 64 parts per billion gold. The company expects to receive turnaround assay results within four weeks of sample submission following drilling completion. A follow-up program is also set to begin next month, which will systematically sample and map the quartz reef adjacent to the recent nugget discovery to determine any links to alluvial gold. Investor sentiment may lean bullish given the clear identification of gold nuggets in a structurally favorable setting, the robust design of the drilling program, and the presence of significant geochemical and magnetic anomalies that provide a strong rationale for continued exploration. However, the early stage of the exploration means there is uncertainty regarding the representativeness of these findings—since the nuggets were localized to a small area—and actual gold grades have yet to be confirmed through assaying. This mix of encouraging indications alongside the inherent risks of early exploration highlights the balanced challenges facing investors in the company’s ongoing project development.