Saudi Arabia Discovers 7.8 Million Ounces of Gold Resources Across 4 Sites

An official and 100% confirmed report from Saudi Arabian Mining Company, or Maaden, announced the addition of 7.8 million ounces of gold resources across four sites in Saudi Arabia on Jan. 12, 2026, in Riyadh.

The increase stemmed from drilling activities that defined more than nine million ounces before adjustments for factors such as higher costs and commodity price assumptions.

• As of January 13, 2026, 7.8 million ounces of gold are worth approximately $35.1 billion (calculated using a price of approximately $4,500 per troy ounce).

The four locations include the Mansourah Massarah mine, Uruq 20/21, Umm As Salam and Wadi Al Jaww, all within the kingdom.

At Mansourah Massarah, the company's flagship gold operation, a net increase of three million ounces was recorded year-over-year, bringing the total resource to 116 million tonnes at 2.8 grams per tonne, equivalent to 10.4 million ounces of gold.

Extension and conversion drilling added 4.2 million ounces at the site, where mineralization remains open at depth and supports potential for open-pit and underground mining.

Drilling will continue through 2026 at Mansourah Massarah. Uruq 20/21 and Umm As Salam together added 1.67 million ounces, with current resources at 50.6 million tonnes at 2.1 grams per tonne for about 3.4 million ounces of gold.

Expansion drilling identified 1.9 million ounces in these areas, located near the Mansourah Massarah processing facility, and studies are underway to speed development for possible production increases.

Wadi Al Jaww provided a maiden resource of 3.08 million ounces from 76.8 million tonnes at 1.25 grams per tonne, identified in just over one year from drilling over 100 square kilometers.

Further drilling is planned at Wadi Al Jaww and nearby areas, including Jabal Wa’alah, where initial results show a target range of 87,000 to 256,000 ounces of gold.

Advanced drilling in the Central Arabian Gold Region found new mineralized zones, and near-mine work at the Mahd Ad Dahab gold mine expanded the resource envelope for potential life extension.

Early-stage drilling at Jabal Shayban and Jabal Al Wakil confirmed copper, nickel and platinum group element mineralization, pointing to large mineral systems.

Maaden Chief Executive Bob Wilt said in the news report:

“The addition of more than seven million ounces through drilling across the four areas demonstrates the scale and ongoing potential of Maaden’s gold portfolio, and it continues to deliver as we advance exploration and mine development.”

The company disclosed the updates in a statement to the Tadawul stock exchange, with mineral resource estimates prepared by external competent persons under the JORC Code of 2012.

Financial impacts from the resource additions have not been determined yet.