Overview of Golden State Mining's recent exploration activities

Golden State Mining Limited (ASX:GSM) is pleased to announce the recent grant of a new exploration license for the Canning Hill Gold Project, providing the company with additional gold exploration opportunities in Western Australia. The company's Managing Director, Michael Moore, highlighted the significance of this development, emphasizing the focus on leveraging opportunities for shareholders through cost-effective exploration license applications. Additionally, the engagement of renowned industry consultants RSC Consulting to undertake a comprehensive independent review of the Yule project reflects the company's commitment to refining its gold-focused exploration strategy.

Executive commentary on recent developments

The recent grant of the Canning Hill project application is part of a methodical and ongoing search for new gold-focused exploration opportunities where the Company feels it can achieve good leverage for shareholders. Although our focus is the gold potential of this tenement, it has also been explored for iron ore and base metals. The project is approximately 13km south of the Kirkalocka Gold Mine and has abundant high-grade rock chip results in addition to 'gold in soil' and gold pathfinder anomalies, most of which remain untested. It is also pleasing to report the engagement of independent geological consultants RSC who will undertake a review of the Yule project to validate the current target areas as well as identify any prospective areas that have not been tested so far. In order to maintain support for this strategy, the Company felt that a third-party geological review would help in validating the exploration strategy and the continued deployment of exploration resources into the project.

Summary of ASX announcement and outlook

Golden State Mining's recent announcement highlights the company's proactive approach to securing new gold exploration opportunities and refining its exploration strategy. The grant of the Canning Hill project application and the engagement of industry consultants for the Yule project review demonstrate the company's commitment to maximizing the potential of its 100% owned projects in Western Australia. With a focus on cost-effective exploration license applications and the validation of target areas through independent geological reviews, Golden State Mining aims to maintain a lean and manageable portfolio while progressing its ongoing exploration programs. The company's ambitions to identify significant gold mineralization occurrences and the expected results of the comprehensive review of the Yule project indicate a forward-looking approach to achieving its exploration goals.