Massive New Gold Reserves Discovered in Saudi Arabia

This exploration activity is being conducted with the goal of expanding Saudi Arabia's mineral resources and establishing a world-class gold industry.

Ma’aden reported that through planned drilling operations, an initial presence of over 9 million ounces of gold was identified. However, after annual accounting adjustments, the net reserve stands at 7.8 million ounces. These new reserves were found in the Mansourah-Massarah, Uruq 20/21, Umm al-Salam, and the newly discovered Wadi al-Zaw project areas.

Among these, the Mansourah-Massarah project saw the most significant growth, with net gold reserves increasing by 3 million ounces compared to the previous year. The Uruq 20/21 and Umm al-Salam projects added 1.67 million ounces, while 3.08 million ounces of gold were discovered for the first time in the Wadi al-Zaw area.

Ma’aden CEO Bob Wilt stated that this achievement reflects Saudi Arabia's long-term strategy for mineral resource development and its ambition to lead the global mining industry. He noted that continued success in gold exploration will play a crucial role in increasing the company's future cash flow and revenue.

The 2026 exploration program will intensify searches in the gold-rich regions of central Saudi Arabia using advanced drilling technologies. Additionally, there is potential for discovering new mineral layers at the historic Mahd Ad Dhahab gold mine, which Ma’aden hopes will further extend the mine's operational lifespan.