• Sierra Nevada Gold Limited establishes a fully owned Saudi subsidiary to accelerate its expansion
• As Safra Copper–Gold Project shows strong indicators of large-scale mineral potential
• Drilling is expected to begin soon, aligned with Vision 2030

In a strategic move that reflects the growing momentum of Saudi Arabia’s mining sector, Sierra Nevada Gold Limited has announced the establishment of its wholly owned Saudi subsidiary, Arabian American Minerals LLC (AAM).

This development marks a critical step in the company’s expansion strategy within the Kingdom, enabling it to directly execute exploration activities and accelerate progress at its flagship As Safra Copper–Gold Project.

Why the Establishment of Arabian American Minerals LLC (AAM)

Setting up a local entity is a key requirement for international mining companies operating in Saudi Arabia. With AAM, SNX now has a fully operational in-country platform that allows it to:

• Hold and manage exploration licences directly
• Execute exploration programs without third-party dependency
• Engage efficiently with government entities and local stakeholders
• Access local workforce, contractors, and service providers
• Qualify for government-backed exploration support programs

This significantly reduces operational risks and positions the company to move faster in advancing its projects.

As Safra Project: A High-Potential Copper–Gold Opportunity

The As Safra Copper–Gold Project is emerging as a promising exploration asset, with early results indicating a district-scale mineralised system extending over more than 5 km.

Key Exploration Highlights:

• Ground magnetic surveys targeting Cu–Au skarn systems are already underway
• A +5 km mineralised corridor has been identified
• Historical drilling results include:
  • 24.55m @ 1.69% Cu
  • 5.0m @ 4.07% Cu
• Rock-chip samples returned up to:
  • 244 g/t gold
  • 11% copper

These results suggest strong potential for both copper and gold mineralisation, attracting increasing interest from investors and industry players.

Upcoming Milestones:

• Final grant of exploration licences (expected within 2–4 weeks)
• Completion of geophysical and geochemical programs (6–8 weeks)
• Launch of Phase 1 drilling (~5,000m RC and diamond drilling)

The establishment of AAM ensures these activities can be executed efficiently and at scale.

Alignment with Vision 2030

The creation of AAM aligns closely with Vision 2030, which aims to position mining as a key pillar of Saudi Arabia’s economy.

Key objectives include:

• Diversifying revenue beyond oil
• Attracting international mining investment
• Developing critical mineral supply chains
• Strengthening in-country capabilities

As global demand for copper and critical minerals continues to rise, projects like As Safra are becoming increasingly strategic.

Saudi Arabia’s Rising Position in Global Mining

Saudi Arabia is rapidly establishing itself as a globally competitive mining jurisdiction, driven by:

• Strong regulatory support and clear licensing frameworks
• Increased participation from international mining companies
• Government-backed funding and exploration incentives
• Vast untapped mineral resources
• Growing global demand for energy transition minerals

This environment creates significant opportunities for companies like SNX to scale operations quickly.

Conclusion

The establishment of Arabian American Minerals LLC represents more than just a corporate milestone—it is a strategic move that positions Sierra Nevada Gold Limited at the center of Saudi Arabia’s evolving mining landscape.

With strong early results from the As Safra Project and drilling on the horizon, the company is well-positioned to unlock significant copper–gold potential in one of the world’s most promising mining regions.