Sierra Nevada Gold Limited (ASX: SNX) has announced the establishment of its wholly owned Saudi Arabian subsidiary, Arabian American Minerals LLC (AAM). Sierra Nevada Gold is an ASX-listed company focused on the exploration and acquisition of precious and base metal projects. It has several projects in Nevada and the As Safra project in Saudi Arabia.
The formation of AAM is a key strategic move, providing SNX with a dedicated in-country platform to hold exploration licences, contract local services, and directly execute exploration programs. AAM is expected to streamline engagement with government agencies and local stakeholders, aligning with Saudi Arabia’s Vision 2030. This milestone supports the anticipated grant of Exploration Licences and the planned commencement of drilling at the As Safra Copper–Gold Project.
Executive Director Peter Moore stated that the establishment of AAM is a foundational step in executing their strategy in Saudi Arabia. He highlighted that AAM will enable SNX to operate efficiently, build strong local partnerships, and fully align with the Kingdom’s mining vision. Moore also expressed confidence that AAM will play a central role in unlocking the district-scale potential of As Safra.
SNX anticipates the finalisation and grant of Exploration Licences at As Safra within 2-4 weeks, followed by the completion of current geophysical and geochemical programs in 6-8 weeks. Phase 1 drilling, comprising approximately 5,000 metres of RC and diamond drilling, is scheduled to commence post-licence grant.
