Announcement • Jun 24
Far East Gold Limited Announces Appointment of Professor Justin Hastings as Director, Effective June 24, 2026 Far East Gold Limited had announced the appointment of Professor Justin Hastings, a leading scholar of international relations and the geopolitics of critical minerals, to the Board of Directors of Far East Gold Limited, effective June 24, 2026. The appointment was as nominee Director under completion of the Stage 1 Idenburg Transaction. Justin Hastings is Professor of International Relations and Comparative Politics at the University of Sydney, with more than twenty years of experience researching international security, including geopolitical risk, strategic threats, security and trade, and international legal compliance. His work examines the geopolitics of global supply chains and the strategic competition shaping access to critical minerals, and he is a contributor to expert roundtables evaluating Australia's positioning in the global race for critical minerals. He has consulted extensively for companies, international organisations, and governments on political, economic, and security risk in Southeast Asia and the broader Asia-Pacific, bringing deep insight into the international policy, trade and security dynamics increasingly central to the resources sector. His expertise spans the strategic, regulatory and geopolitical considerations that are increasingly material to resource development across the Asia-Pacific – the region in which Far East Gold Limited holds advanced gold and copper projects spanning Australia and Indonesia. Announcement • May 29
Hsing Yip Gold(Hong Kong)Mine Company Limited proposed to acquire remaining 80.01% stake in Far East Gold Limited (ASX:FEG). Hsing Yip Gold(Hong Kong)Mine Company Limited proposed to acquire remaining 80.01% stake in Far East Gold Limited (ASX:FEG) for AUD 38.2 million on May 27, 2026. A cash consideration valued at AUD 0.13 per share will be paid by Hsing Yip Gold(Hong Kong)Mine Company Limited. Upon completion, Hsing Yip Gold(Hong Kong)Mine Company Limited will own 100% stake in Far East Gold Limited. The funds required by the Hsing Yip Gold(Hong Kong)Mine Company Limited to satisfy its obligation to pay the Offer Consideration will be made available to the Bidder by Inner Mongolia Xingye Silver & Tin Mining Co., Ltd.
The transaction is subject to approval by regulatory board / committee and minimum tender. As per the announcement dated May 27, 2026 FEG shareholders are advised to TAKE NO ACTION.
Johnson Winter & Slattery and Thomson Geer acted as legal advisor for Far East Gold Limited. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.8m free cash flow). Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (AU$44.0m market cap, or US$31.3m). 
