Verity Resources Secures Botswana Licence Renewal Over Airstrip and Dibete Discoveries

Verity Resources Secures Botswana Tenure Over High-Grade Copper-Silver Discoveries

Verity Resources (ASX: VRL) has secured a two-year renewal of four prospecting licences covering its core eastern Botswana landholding, maintaining its tenure position over a series of high-grade copper-silver targets in the region. The Verity Resources Botswana copper silver licence renewal over Airstrip and Dibete discoveries confirms the company's continued hold over 2,868km² of the Limpopo Mobile Belt. The renewals protect the Airstrip and Dibete copper-silver discoveries, together with the Maibele North nickel-copper-PGE mineral resource — the three most advanced assets in the company's Botswana portfolio.

According to the announcement, the renewals confirm that Verity's most drill-ready targets, some of which carry historical intercepts among the higher-grade copper-silver results reported by ASX-listed explorers, remain secured for the next phase of exploration. Furthermore, a soil sampling campaign is also underway across an additional 903km² of ground under a separate licence.

"Renewal of these four licences secures our position over the Airstrip and Dibete copper-silver discoveries and the Maibele North resource for a further two years. This is the ground that carries our defined copper, silver, nickel, PGE and gold endowment in Botswana, and holding it on a firm footing gives us the runway to get back to uncovering the potential of the large-scale copper-silver targets," said Patrick Volpe, Director of Verity Resources.

What the Renewals Protect: Three Assets, One Structural Corridor

The four renewed licences — PL2477/2023, PL2478/2023, PL2479/2023, and PL222/2022 — sit within the same structural corridor as the Selebi and Selebi North nickel-copper-cobalt deposits, historically significant mines in eastern Botswana. The Selebi Phikwe concentrator and smelter complex lies approximately 50km from Verity's ground, providing relevant regional infrastructure context.

Together, these three prospects represent less than 10% of Verity's total Botswana project area, indicating the considerable extent of ground that remains without systematic exploration.

The Grades Drawing Attention: Airstrip and Dibete

What sets Verity's Botswana assets apart from many exploration-stage copper projects is the calibre of historical drilling results reported to date. Both Airstrip and Dibete have returned intercepts that sit at the higher-grade end of the copper-silver discovery spectrum, based on results disclosed in prior ASX announcements.

Airstrip: High-Grade Copper-Silver Along the Magogophate Shear Zone

Airstrip hosts a vein-controlled copper-silver system with historical results that include some notably high-grade intersections. The mineralisation is reported to remain open at depth and along strike, meaning drilling has not closed off the system.

These historical intercepts reflect a vein-hosted system where grade can be exceptionally high within discrete mineralised shoots. In addition, the wider 11m intercept at 7.63% Cu suggests the high-grade material is not confined solely to ultra-narrow veins.

Dibete: A Thick, Shallow System With Depth Upside

Located approximately 5km from Airstrip along the same shear corridor, Dibete presents a structurally distinct target. Sub-surface pipe-like copper sulphide bodies have been defined by audio-frequency magnetotelluric (AMT) and induced polarisation (IP) surveys — geophysical techniques used to detect subsurface features associated with sulphide mineralisation — across a 4.5km by 1km corridor. The system is reported to be largely untested below approximately 120m.

The wider intercepts at Dibete — including 36m at 1.37% Cu and 25m at 2.17% Cu — point to a potentially more volumetrically significant system than the narrower vein-style mineralisation at Airstrip.

Maibele North: A Defined Resource Anchoring the Licence Package

While Airstrip and Dibete represent the exploration upside, Maibele North provides a JORC-compliant resource base within the renewed licence area.

The mineralisation style is described as orthomagmatic nickel-copper-cobalt-PGE sulphide, associated with ultramafic intrusions in Limpopo Mobile Belt rocks. The resource is reported to remain open along strike and at depth, indicating potential for further resource definition with additional drilling.

The estimate was completed in April 2015, prior to a period of substantial movement in critical metals pricing. Consequently, the combination of nickel, copper, platinum group elements (PGE) and gold within a single deposit positions it as a multi-commodity asset within the portfolio.

Understanding the Limpopo Mobile Belt

The Limpopo Mobile Belt is an ancient geological terrane extending through Botswana and South Africa, characterised by high-grade metamorphic rocks and structural complexity. It hosts several known base and precious metal deposits in the region.

Other technical terms relevant to Verity's exploration approach include:

• VTEM (Versatile Time-Domain Electromagnetic): An airborne survey method used to detect conductive bodies beneath the surface that may indicate sulphide mineralisation.
• AMT (Audio-Frequency Magnetotelluric): A geophysical method used to image subsurface resistivity contrasts, applied at Dibete to help define steeply dipping sulphide bodies.
• IP (Induced Polarisation): A technique used in base metals exploration to identify sulphide-bearing zones by measuring electrical chargeability in the ground.
• PGE (Platinum Group Elements): A group of six metallic elements, including platinum and palladium, used across industrial applications.
• JORC 2012: The Joint Ore Reserves Committee code that governs the reporting of exploration results and mineral resources in Australia.

The presence of these techniques and terrane characteristics within Verity's landholding is relevant to investors seeking to understand the geological basis for continued exploration in the region.

Untested Anomalies and an Expanding Soil Sampling Campaign

A notable feature of Verity's Botswana position is the amount of ground yet to be systematically tested. The three flagship prospect areas collectively represent less than 10% of the company's total Botswana project area.

A regional VTEM dataset has identified 23 untested anomalies across the broader portfolio, the majority located outside the three flagship areas. This provides a substantial target inventory for potential future exploration work, based on geophysics already completed.

A first-pass soil sampling campaign is currently underway across PL123/2024, a separately granted licence covering 903km². Samples are to be dispatched to ALS South Africa for assay once the programme is complete. Soil sampling programmes of this nature are typically designed to generate geochemical anomalies that help prioritise future drill targets.

Catalysts flagged for monitoring:

1. Soil sampling results from the 903km² PL123/2024 programme, expected once samples are returned from ALS South Africa
2. Planning and targeting for future drilling at Airstrip and Dibete, following the Verity Resources Botswana copper silver licence renewal over Airstrip and Dibete discoveries
3. Any resource definition or expansion work at Maibele North
4. Follow-up work on the 23 untested VTEM anomalies across the broader portfolio

District Context: The Selebi-Phikwe Corridor

Verity's renewed licences sit within the same structural corridor as the Selebi and Selebi North nickel-copper-cobalt deposits, currently held by NexMetals Mining Corp. (NASDAQ: NEXM). The Selebi mines operated until 2016, and NexMetals is reported to be progressing redevelopment studies, with a stated development strategy focused on producing separate saleable copper and nickel concentrates.

NexMetals' Selebi Mines Project hosts a 24.7Mt at 3.42% CuEq Inferred and 3.0Mt at 2.92% CuEq Indicated resource under the NI 43-101 reporting standard. In July 2025, NexMetals received a US$150 million Letter of Interest from the Export-Import Bank of the United States.

This regional context is provided for geological reference only. The presence of mineralisation at the Selebi Mine is not necessarily indicative of mineralisation on Verity's projects, and Verity has not received any equivalent financing or government support.

"The district has changed considerably since this ground was last actively drilled. Selebi and Selebi North are being brought back into the frame by NexMetals, and the Selebi Phikwe plant and smelter remain in place. We hold a meaningful position in that corridor, and we intend to capitalise on it," said Patrick Volpe, Director of Verity Resources.

Investment Considerations Arising From the Renewal

The two-year licence extension carries relevance for investors beyond the administrative act of renewal itself.

1. High-grade assets with reported depth upside remain protected. Both Airstrip and Dibete host mineralisation described as open at depth and along strike, with Dibete largely untested below approximately 120m.

2. A defined resource base anchors the portfolio. The Maibele North Inferred Resource of 2.4Mt at 0.72% Ni, 0.21% Cu and 0.63g/t 4PGE+Au provides a foundation of defined mineralisation within the renewed licence area.

3. The exploration inventory is large relative to ground tested. With 23 untested VTEM anomalies and flagship prospects covering less than 10% of the total project area, further exploration potential exists across the wider 2,868km² landholding.

4. Regional district activity provides geological context. NexMetals' redevelopment work at Selebi and Selebi North indicates continued industry interest in the district, though this activity is separate from and not indicative of outcomes on Verity's ground.

5. A multi-asset portfolio supports diversification. Beyond Botswana, Verity holds the Monument Gold Project in Western Australia (2.5Mt at 1.72g/t Au for 137,700oz, including a Maiden Indicated Resource announced in May 2026) and a critical metals portfolio in Brazil spanning rare earth elements, lithium and base metals, including a 70% interest in the Pimenta REE project in Minas Gerais.

Key Considerations for Investors Monitoring VRL

Verity Resources presents as a multi-jurisdiction explorer with a defined asset base, high-grade copper-silver targets carrying reported exploration upside, and a secured tenure position across a historically active Botswana mining district.

• Secured two-year tenure over 2,868km² in the Limpopo Mobile Belt
• Historical copper-silver intercepts of up to 60.98% Cu and 2,833g/t Ag at Airstrip, with systems reported open at depth
• 23 untested VTEM anomalies identified across the broader portfolio
• Active soil sampling campaign underway across a separate 903km² licence area, with assay results pending
• Maibele North provides a defined multi-commodity JORC 2012 Inferred Resource
• Monument Gold Project in Western Australia, with a maiden Indicated Resource declared in 2026
• Brazilian critical metals exposure including REE, lithium and a 70% interest in the Pimenta REE project

Verity Resources has secured its most advanced Botswana assets for a further two years at a time when regional attention on the Selebi-Phikwe district has increased following NexMetals' activity. With copper-silver discoveries reported open at depth, 23 untested geophysical anomalies across a 2,868km² landholding, and soil sampling results pending from a newly granted 903km² licence, the company's near-term exploration news flow is likely to be of interest to investors focused on copper and critical metals exposure.

Ready to Explore What Verity Resources Is Building in Botswana?

With two-year tenure secured over high-grade copper-silver discoveries at Airstrip and Dibete, 23 untested geophysical anomalies across a 2,868km² landholding, and soil sampling results pending from a newly granted 903km² licence, Verity Resources (ASX: VRL) is positioning itself for a potentially significant phase of exploration activity. Investors looking to understand the full scope of the company's Botswana portfolio, its JORC-compliant resource at Maibele North, and its broader multi-jurisdiction asset base — including the Monument Gold Project in Western Australia and critical metals exposure in Brazil — can find detailed information directly at verityresources.com.au.