26 August 2026

HOT ROCKS INVESTMENTS PLC

(the "Company" or “Hot Rocks”)

Suncrest Gold   - positive updates

 

The Company is pleased to announce an update on investee company Suncrest Gold (“Suncrest”) (formerly Sunshine Gold).

 

Highlights:

• Oversubscribed $1.02 million convertible note raise for Suncrest
• New project application in the West Kimberley region
• Change of name ahead of planned listing on the Australian Securities Exchange (ASX).
• Hot Rocks holds 43% of the issued equity of Suncrest

Oversubscribed $1.02 million convertible note

Suncrest sought to raise $750,000 to fund the costs of an ASX listing and continued growth across its projects. Following strong demand from industry investors and existing shareholders, the fundraise was increased and closed oversubscribed, raising $1,024,056 before costs.

The notes convert into fully paid shares at a 25% discount to the price at which shares are issued under the company’s planned listing price and include one option for every three shares issued on conversion, exercisable at 150% of the listing Price within 12 months of listing and one option for every two shares issued on conversion, exercisable at 300% of the listing price within 24 months of listing.

Proceeds of Suncrest’s fundraising will be applied primarily to the ASX listing, exploration growth at the company’s flagship project Dexter, heritage and land access costs, and working capital.

Kimberley King Project

Suncrest has lodged a tenement application (E04/2943) over a new gold target in the West Kimberley region of Western Australia, called the Kimberley King Project. This adds an early-stage discovery opportunity to the portfolio at low cost. The application has not yet been granted.

The project lies approximately 175 km east of Derby, with good access via the Gibb River Road. A major fault zone cuts through the tenement application, with a known gold occurrence 8 km along strike at Mt Synnot, where historical quartz-vein sampling is reported to have returned good gold grades.

Aerial imagery shows extensive outcropping quartz veining hosted within the fault system across the tenement application. The imagery also shows ground disturbance that may reflect local prospecting activity, though this has not been confirmed.

Outcropping targets and good road access mean Kimberley King can be tested quickly and at very low cost. Once the application is granted and heritage access is secured, a first-pass program will test whether gold mineralisation extends along the fault system.

Name change to Suncrest Gold

Ahead of its planned ASX listing, the company has changed its name from Sunshine Gold to Suncrest Gold.

Managing Director of Hot Rocks, Gavin Burnell said: “Investor support for Suncrest’s funding, which closed well above the target, is a strong endorsement of the portfolio and strategy. It was backed by investors with deep experience across financial markets in both Australia and Europe, highly successful exploration and mining professionals, and specialists in land access. Hot Rocks currently owns 43% of the issued share capital of Suncrest and participated in the round investing a further AU$25,000. We are very excited for the potential of Suncrest and we have a material stake.”

 

For further details please contact:

Hot Rocks Investments plc

Gavin Burnell Tel: 0207 2644 546

 

Optiva Securities Limited

Vishal Balasingham Tel: 0203 981 4174