PERTH: Famien Resources Limited announced Monday it has entered into a share purchase agreement with Voltaic Strategic Resources Limited for the sale of all issued shares in its wholly owned subsidiary, Diamandia Pty Ltd.

Diamandia holds a 100% interest in several non-core exploration licenses in Western Australia’s West Yilgarn region, including the Rocky Ridge Tenements, the Tampia West Tenement and the Three Springs Tenement.

Under the agreement, Voltaic will pay an initial cash consideration of $330,000 upon completion, expected to occur five business days after all conditions precedent are satisfied or waived. Completion is anticipated in late October 2026.

Voltaic may also pay up to $2 million in deferred cash consideration tied to resource milestones on the Rocky Ridge Tenements. The payments include $250,000 upon delineation of a JORC-compliant mineral resource estimate of at least 25,000 ounces of gold, an additional $250,000 upon reaching 50,000 ounces, $500,000 upon reaching 100,000 ounces and $1 million upon reaching 200,000 ounces. Each milestone requires a cutoff grade of no less than 0.5 grams per tonne of gold.

The deal is subject to conditions precedent, including receipt of all necessary corporate, governmental and regulatory approvals, consents and waivers, and Famien providing evidence satisfactory to Voltaic that Diamandia has or will have no liabilities, debts, loans or other encumbrances at completion.

Either party may terminate the agreement if the conditions are not satisfied or waived by Oct. 31, 2026, unless extended by written agreement.

Famien said it intends to use the sale proceeds for continued exploration on its remaining assets and projects, as well as general working capital.

The announcement was authorized by the company’s board of directors.