Besra Gold Receives Conditional Mining Lease Renewal for Bau Gold Project's Jugan Deposit

Besra Gold (ASX: BEZ) has received conditional approval from the Sarawak government for its ML 05/2012/1D mining lease renewal at the Bau Gold Project, a significant step towards de-risking its primary asset.

The lease covers the Jugan deposit within the Bau Gold Project in Sarawak, Malaysia.

This marks the first mining lease renewal for the company since its ASX listing in October 2021.

Besra will continue to engage with authorities to formalise the renewal conditions and progress other renewal applications.

De-risking Bau Gold Project Tenure

This conditional renewal provides greater clarity on tenure security for Besra Gold's main asset.

The company's board had previously identified tenure security as a high risk area.

However, the conditional nature introduces near-term execution risk until the formal conditions are advised and met.

While the Jugan deposit lease is conditionally approved, there are no assurances regarding the timing or outcome of other renewal applications.

Continued engagement with authorities is required to formalise the conditions for ML 05/2012/1D and advance its other applications.

Outlook for Besra Gold CDI

The conditional renewal of the Jugan mining lease is a positive de-risking event for Besra Gold CDI, potentially lowering project risk and supporting future development plans.

However, the finalisation of conditions and the outcome of other renewal applications introduce near-term execution and regulatory uncertainties.

"With this renewal in place, we can now allocate resources to systematic, technically driven assessments across the Bau corridor to advance our portfolio in a disciplined and responsible way," non-executive chair Dr John Blake said.

"The governance and stakeholder engagement measures introduced by the board in December 2025 are delivering positive outcomes and achieving their strategic intent.”