Wadi Araba Minerals Signs Jordan’s First Executive Agreement for Gold Exploration and Development

Tuesday, September 09, 2025 Amman - Jordan Wadi Araba Minerals Company announced today the signing of Jordan’s first executive agreement for the exploration and development of gold, representing a significant expansion of the company’s mineral portfolio and a further milestone in Jordan’s mining sector. The agreement was signed between the Minister of Energy and Mineral Resources, H.E. Dr. Saleh Al-Kharabsheh, and Mr. Hani Matouq Al-Asmar, Board Member and Chief Executive Officer of Wadi Araba Minerals Company. It covers the Abu Khusheiba, Jabal Abu Barqa, and Al-Baraq areas in Wadi Araba, over a total area of 66 square kilometers, including 48 kilometers previously licensed to the company under a copper executive agreement. This agreement supports Wadi Araba Minerals’ strategic objective to responsibly develop Jordan’s mineral resources in alignment with the Economic Modernization Vision, contributing to economic growth, local value creation, and employment opportunities. Exploration Results and Geological Potential Exploration within the Abu Khusheiba Project area has identified a basement-hosted gold-copper mineral system developed in Neoproterozoic crystalline basement rocks, together with associated intrusive and volcanic sequences. Geological and geochemical evidence indicates that the system represents a reduced intrusion-related gold system (RIRGS) transitional toward a porphyry-style mineral system, highlighting its potential to host significant gold and copper mineralization. Volcanic rocks, particularly red porphyry andesite, are closely associated with mineralization and are interpreted to have played a key role in the formation of low-sulphidation epithermal gold mineralization. The basement-hosted system is considered the primary mineralizing source for overlying and laterally displaced secondary systems, including stratiform sandstone-hosted copper and additional epithermal gold occurrences, supporting the project’s potential for multiple mineralization styles. Project Commitments and Development Framework Under the terms of the agreement, Wadi Araba Minerals is prohibited from selling or exporting unprocessed ore. The company is required to process all extracted minerals and associated byproducts to specified purity levels prior to sale or exporting unprocessed ore, reinforcing its commitment to maximizing local value addition and supporting national economic returns. Project revenues are linked to prevailing global gold prices. Work Program and Timeline Commenting on the signing, Mr. Hani Al-Asmar confirmed that the company will commence exploration activities at an early stage, implementing a 36-month work program divided into two phases. The program will include drilling, geological modeling, metallurgical testing, and financial studies conducted in full compliance with approved timelines and international environmental and technical standards. The executive gold mining agreement was approved by the Council of Ministers during its session last Wednesday. Gold is classified as a strategic mineral in Jordan and is developed under a special concession framework in accordance with prevailing legislation. The signing ceremony was attended by senior official from the Ministry of Energy and Mineral Resources and members of the technical committee. Representing Wadi Araba Minerals Company where the company’s management team, including the CEO, along with board members and shareholders.