Resource Minerals International Ltd (ASX:RMI) has announced it has acquired AuKing Mining Limited’s interest in its Joint Venture arrangements in Saudi Arabia. Resource Minerals International Ltd is focused on mineral development delivering shareholder value while operating sustainably. The acquisition follows the granting of the Shaib Marqan exploration licence, covering 91.8 square kilometres, which is highly prospective for gold and base metals. No consideration is payable by RMI to AuKing, other than RMI’s agreement to assume all AuKing’s obligations under the Saudi JV.
The Shaib Marqan licence was granted on August 17, 2025, providing exploration rights for gold, silver, copper, tin, and lead for an initial term of five years. Initial validation outcrop sampling conducted in November 2024 reported high-grade gold results. A subsequent reconnaissance sampling program completed in March 2025 collected a further 87 samples at Shaib Marqan, with results pending. The project is situated in central Saudi Arabia, approximately 240km south-west of Riyadh.
RMI Executive Chairman, Asimwe Kabunga, stated the company is delighted to have completed the acquisition, making it one of the few ASX-listed companies with a foothold in the Saudi exploration sector. Kabunga added that RMI continues to expand its portfolio of prospective gold and critical minerals assets and is well-funded to progress its exploration programs in Saudi Arabia, Tanzania and Finland.
RMI is now uniquely positioned as an ASX-listed explorer and developer to capitalize on the growth in investment in minerals exploration in Saudi Arabia. Assay results from recent rock chip sampling at Shaib Marqan will be available in the coming weeks and will assist in developing the detailed first phase exploration programme at the Shaib Marqan and Wadi Salamah projects.
