Earnings release
Page 1
ASX / MEDIA RELEASE 21 JULY 2026 Registered Address New Murchison Gold Limited ACN 085 782 994 Level 1, 16 Ord Street West Perth WA 6005 Directors & Management Alex Passmore – Chief Executive Officer Rick Crabb – Non-Executive Chairman Malcolm Randall – Non-Executive Director Joanne Palmer – Non-Executive Director Mark Adams – Non-Executive Director E: info@newmurchgold.com.au P: +61 (08) 9389 6927 W: newmurchgold.com.aue Projects Garden Gully Gold Project Corporate Shares on Issue 10,864m Share Price $0.043 Market Cap $467m ASX Code NMG QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDED 30 JUNE 2026 HIGHLIGHTS Crown Prince Gold Mine • Crown Prince Operations (“CPO”) continued to deliver strong production and cash generation, underpinned by robust operating margins. • A total of 156,367 tonnes of ore (at 3.2 g/t Au) was sold during the June quarter, containing 15,455 ounces Au. • A total of 58,183 ounces Au sold to Big Bell Gold Operations (“BBGO”) over the 10 months since commencement of ore sales. • Mining commenced at Cloudkicker (formally Crown Prince East) open pit mine in late June 2026. • No LTI’s were recorded during the Quarter, LTIFR at 0 and TRIFR at 6.83. No significant environmental incidents during the Quarter. Exploration and Growth • Mineral Resource Estimate (“MRE”) for the Garden Gully Gold Project increased by 47% after mining depletion to 4.42 Mt at 2.5 g/t Au for 359,000 ounces of contained gold at 1 April 2026 (see ASX announcement dated 25 June 2026). • Ongoing technical work continues to support further mineralisation modelling and future resource definition, with an updated CPO resource and reserve estimate targeted for late September 2026. • High-grade drilling results received outside MRE at Cloudkicker support potential for further growth beyond the newly commenced second open pit operation. • Project development activities continued during the Quarter with the team focussing on advancing the Crown Prince Underground and Lydia open pit projects towards respective development decisions. • Exploration programs at Airstrip and Abernethy South corridor prospects continued during the Quarter, with both prospects progressing well. Corporate • Cash build of $46.1 million for the Quarter to $201.7 million, with no debt and no hedging. • The attributable gold bullion price applied under the OPA for the June quarter was A$6,349/ounce against an attributable AISC of A$3,448/ounce.
Page 2
Page 2 of 14 newmurchgold.com.au New Murchison Gold Limited (ASX:NMG) (“NMG” or the “Company”) is pleased to provide shareholders and investors with an operations and exploration overview to accompany the Appendix 5B for the quarter ending 30 June 2026 (“Quarter” or the “Reporting Period”). Commenting on key outcomes for the Quarter, NMG CEO, Alex Passmore said: “Our third full quarter of production continued to deliver strong cash generation, providing the financial foundation to advance our growth across the Garden Gully Gold Project . Recent drilling delivered strong results with the updated Mineral Resource Estimate increasing estimated resource ounces by 47% after mining depletion . This resource growth has allowed us to expand operations to commence mining Cloudkicker, our second pit , which is expected to add ounces to our production profile, enhance operational flexibility and underpin a strong production performance in 2027. Importantly, strong operating cash flows are allowing us to progress multiple development opportunities simultaneously, including : Cloudkicker, the Crown Prince Underground study, and the Lydia open pit plan. We remain on track to complete the Crown Prince Underground study in September 2026.” Figure 1: NMG Tenements - Crown Prince located 36km north of Bluebird Mill
Page 3
Page 3 of 14 newmurchgold.com.au CROWN PRINCE GOLD MINE ACTIVITIES Sustainability, Health and Safety There were no significant environmental incidents recorded during the Quarter. There were no lost time injuries (“LTI’s”) recorded in the Quarter, with the Lost Time Injury Frequency Rate (“LTIFR”) at 0. The 12-month rolling Total Recordable Injury Frequency Rate (“TRIFR”) was 6.83. Mining Mining activities at Crown Prince continued to progress strongly during the Quarter, with Stage 1 open pit mining well advanced. There was an increased focus on waste movement within the Stage 2 open pit to ensure the long-term schedule is met. Total material movement increased 6% to 1,697,643 bcm, reflecting increased Stage 2 waste material movement. Good pit conditions have allowed the Company to extend the Stage 1 pit approximately 10m below the Feasibility Study plan. Accordingly, Stage 1 and Stage 2 pit bases will now meet in September 2026. At the same time a third dig fleet is being mobilised by NMG’s mining contractor Ozland Mining Services Pty Ltd to commence mining of the Company’s second open pit mine, Cloudkicker. The commencement of Cloudkicker will provide a new source of oxide ore as the Crown Prince open pit gold mine transitions to fresh rock in coming months. The investment in waste stripping of Crown Prince Stage 2 pit and the new Cloudkicker open pit over the coming quarter is forecast to lift gold production during the 2027 calendar year. Figure 2: Crown Prince Gold Mine at the end of June 2026 A total of 1,697,643 bcm of material was mined during the Quarter. This included 150,837 tonnes at 3.2 g/t of ore for crushing, and a further 10,357 tonnes of low-grade material (LG) that was stockpiled separately for future consideration.
Page 4
Page 4 of 14 newmurchgold.com.au Table 1: Summary of mining movement Description Unit Jun’26 Qtr Mar’26 Qtr Dec’25 Qtr YTD 2026 Ore mined to ROM t 150,837 168,968 163,562 483,367 Mined ore grade g/t 3.2 2.8 4.2 3.4 Contained gold mined oz 15,475 15,073 21,851 52,399 LG mined to stockpile t 10,357 3,190 36,116 49,663 Mined LG grade g/t 1.1 0.6 0.6 0.7 Contained gold mined oz 378 62 655 1,094 Waste mined bcm 1,610,888 1,483,177 1,217,091 4,311,157 Total material mined bcm 1,697,643 1,596,308 1,338,718 4,632,669 Mining – Cloudkicker Pit (CKP) Commencement Cloudkicker is located adjacent to the existing Crown Prince open pit although considered a separate deposit. It was included in the M51/886 mining approval , allowing for mining to commence immediately. Following drilling of the Cloud kicker deposit, earlier in the year (see ASX announcements dated 23 April 2026 and 14 July 2026 ) NMG provided an updated MRE including for the Cloud kicker deposit (see ASX announcement dated 25 June 2026) which reported an e stimate of 31,500 contained ounces of gold including 80% in the indicated category. The current mining inventory for CKP is 365kt of ore at a grade of 1.73 g/t Au for 19,334 oz Au . Exploration results released subsequent to Quarter end on 14 July are supportive of at least this inventory and indicate it should grow. The current pit design has a strip ratio of 8.1 waste to ore. Following the completion of heritage clearance in late June 2026, the Cloudkicker open pit footprint was cleared in preparation for a two-stage open pit operation commencing in July 2026 running to the third quarter of calendar 2027. While l everaging the existing Crown Prince Gold Mine operation and related infrastructure arrangements to start up, CKP open pit mine adds flexibility to the Company’s production schedule. Figure 3: Cloudkicker open pit at the end of June 2026
Page 5
Page 5 of 14 newmurchgold.com.au Crushing and Ore Sales A total of 164,988 tonnes of ore was crushed to the product stockpile during the Quarter. A total of 156,367 ore tonnes were certified (and sold) during the Quarter. Figure 4: Crown Prince Gold Mine ROM, Crusher and Crushed Ore product stockpile area Table 2: Summary of crushing and ore sales Description Unit Jun’26 Qtr Mar’26 Qtr Dec’25 Qtr YTD 2026 Ore crushed t 164,988 174,817 173,000 512,805 Crushed grade g/t 3.1 3.1 4.0 3.4 Contained gold oz 16,195 17,226 22,392 55,814 Crushed ore sold t 156,367 173,174 187,3841 516,925 Sold ore grade g/t 3.2 3.1 4.0 3.4 Gold recovery % 96.8 96.6 95.9 96.3 Gold sold (in ore) oz 15,455 16,660 22,837 54,952 1 - includes a small parcel of historical surface stocks sold under the OPA during the Dec’25 quarter. Gold ore sold under the OPA amounted to 1 56,367 tonnes at 3. 2 g/t at an agreed recovery of 96. 8% for implied ounces sold of 15,455 ounces for the Quarter. For the 10 months since commencement of operations at Crown Prince Gold Mine a total of 58,183 ounces ha s been produced and sold in ore to BBGO. NMG sells gold bearing ore to Westgold and therefore does not sell gold bullion. For the purposes of providing industry standard information the attributable gold bullion price applied under the OPA for the Quarter was A$6,349/ounce against an attributable AISC of A$3,448/ounce.
Page 6
Page 6 of 14 newmurchgold.com.au Costs A summary of the key cash costs, attributable AISC and other statistics for the Quarter (on an accrual basis) are set out in the table below: Key Cost Statistics $m $/t sold $/oz sold Mining 17.2 110 1,116 Crushing and sampling 2.1 13 133 Site General and Administration 5.5 35 354 Inventory movement (2.1) (13) (135) OPA haulage and processing costs (excl. State royalties paid by WGX) 8.1 52 526 OPA margin1 16.7 107 1,079 Cash cost2 47.5 304 3,073 Royalties (incl. State royalties) 4.3 28 282 Sustaining capital 0.2 1 11 Corporate 1.3 8 82 AISC3 53.3 341 3,448 Development capital4 0.2 Exploration and growth 2.7 1. Under the OPA arrangement NMG pays a margin for gold ore sales. The OPA margin is 17% of the attributable gold price for the OPA certified gold in the ore sold 2. Cash cost represents the cost of mining, crushing & sampling, site administration and OPA costs related to haulage and processing of the ore at Westgold's Bluebird M ill. It excludes royalties, capital costs, growth expenditure, and non -cash movements 3. All in sustaining cost (AISC) is the industry measure of costs against gold bullion revenue and is made up of the Cash Cost plus royalties, corporate expenditure and sustaining capital. NMG sells gold ore under the OPA 4. Development capital comprises costs related to future planned projects 5. Dollars per tonne and per ounce sold are based on total ore tonnes sold EXPLORATION ACTIVITIES During the Quarter, NMG continued to advance its exploration strategy across the Garden Gully Gold Project, supported by the continued stable operation at the CPO. With CPO operating at steady-state production levels, the Company maintained a strong operational focus on mining performance while advancing exploration programs aimed at supporting future growth. Exploration efforts were directed towards establishing additional near-mine opportunities capable of contributing to future production scenarios. NMG’s exploration and evaluation incurred expenditure (capitalised for accounting) during the Quarter totalled $2.74 million (cash outflow $3.72 million). Expenditure included $2.15 million incurred during the Quarter relating to drilling and assaying with 16,226 metres of RC, and 6,020 metres of Slimline Reverse Circulation drilling completed.
Page 7
Page 7 of 14 newmurchgold.com.au Mineral Resource Estimate (MRE) An updated Mineral Resource Estimate was announced to ASX on 25 June 2026. The estimate considered the existing operating Crown Prince open pit and future opportunities. These include: Crown Prince underground, a second open pit opportunity at Cloudkicker (located on the Crown Prince mining lease), the Lydia prospect (on an adjacent mining lease) and the nearby Abbotts prospect. The Mineral Resource Estimate for Garden Gully Gold Project increased 47% after mining depletion to 4.42 Mt at 2.5 g/t Au for 359,000 ounces of contained gold at 1 April 2026 (see ASX announcement dated 25 June 2026). Deposit Mineral Resource Cut Off Tonnes Grade (g/t AU) Contained Gold (Oz) Crown Prince OP Measured 0.5g/t 316,000 3.8 38,900 Indicated 0.5g/t 382,000 3.1 38,700 Inferred 0.5g/t 13,000 0.9 400 Total 0.5g/t 712,000 3.4 78,000 Crown Prince UG Measured 1.2g/t 12,000 3.3 1,300 Indicated 1.2g/t 1,081,000 3.6 126,700 Inferred 1.2g/t 361,000 1.9 22,400 Total 1.2g/t 1,453,000 3.2 150,400 Cloudkicker Indicated 0.5g/t 341,000 2.3 25,100 Inferred 0.5g/t 159,000 1.2 6,100 Total 0.5g/t 499,000 1.9 31,300 Lydia Measured 0.5g/t 2,000 17.1 1,100 Indicated 0.5g/t 474,000 1.7 26,400 Inferred 0.5g/t 486,000 1.8 27,600 Total 0.5g/t 961,000 1.8 55,100 Abbotts Inferred 0.5g/t 789,000 1.8 44,500 Total 0.5g/t 789,000 1.8 44,500 Total Measured 330,000 3.9 41,300 Indicated 2,277,000 3.0 216,900 Inferred 1,808,000 1.7 101,100 Total 4,415,000 2.5 359,300 NMG confirms that it is not aware of any new information or data that materially affects the information included in the 25 June 2026 market announcement and, all material assumptions and technical parameters underpinning the estimates in the 25 June 2026 market announcement continue to apply and have not materially changed.
Page 8
Page 8 of 14 newmurchgold.com.au Cloudkicker On 14 July 2026 (subsequent to Quarter end) the Company announced high- grade gold intercepts from recent grade control and resource definition drilling programs at the Cloudkicker deposit. The drill programs returned positive assay results that confirm the shallow, high-grade gold mineralisation present at Cloudkicker. These areas are higher grade and better widths than seen in the recent resource estimation. Best intersections from this drilling program include: • 10m @ 13.61g/t Au from 44m incl. 3m @ 32.17g/t Au from 46m in CKGC020 • 9m @ 9.31g/t Au from 3m incl. 3m @ 14.30g/t Au from 3m in CKGC015 • 8m @ 9.22g/t Au from 62m incl. 3m @ 14.32g/t Au from 67m in CKRD017 • 7m @ 8.70g/t Au from 55m incl. 1m @ 38.30g/t Au from 59m in CKGC045A • 1m @ 54.80g/t Au from 58m in CKGC062 • 8m @ 6.47g/t Au from 60m incl. 3m @ 12.87g/t Au from 60m in CKRD008 • 9m @ 5.86g/t Au from 72m incl. 3m @ 10.27g/t Au from 75m in CKRD008 • 5m @ 7.33g/t Au from 91m incl. 1m @ 11.10g/t Au from 91m in CKRD022 • 7m @ 5.00g/t Au from 72m incl. 2m @ 10.38g/t Au from 73m in CKRD019 • 8m @ 4.13g/t Au from 0m in CKGC018 • 4m @ 7.76g/t Au from 58m incl. 1m @ 22.90g/t Au from 60m in CKGC045 Figure 5: Cloudkicker location relative to Crown Prince
Page 9
Page 9 of 14 newmurchgold.com.au Crown Prince – Underground Potential Following the release of the Mineral Resource Estimate from the Crown Prince Underground work has accelerated on the feasibility study of the possibility of commencing an underground at Crown Prince late in calendar year 2026. Consideration is being given to commencing with a vent portal in the MOB/NOB area in late calendar year 2026 with the preliminary design outlined below in Figure 6. Figure 6: Crown Prince Conceptual underground Lydia Gold Prospect Following the release of a Mineral Resource Estimate for the Lydia prospect, 55koz at 1.78 g/t Au, work has commenced considering the future mining potential at the prospect. Lydia is currently modelled as three discrete open pits with work ongoing at Lydia South and Lydia East. Once drilling and further resource modelling is complete the resource base and mining inventory will be updated.
Page 10
Page 10 of 14 newmurchgold.com.au CORPORATE & FINANCE New Murchison gene rated $46.1 million during the Quarter, is unhedged with no debt and finished June 2026 with $201.7 million in cash. The Company’s registered office and principal administrative office address changed to Level 1, 16 Ord Street West Perth effective 22 June 2026 (see ASX announcement dated 19 June 2026). The Company made a $1 million pre -IPO corner stone investment in a north Murchison explorer Parbo Resources Limited in June. Parbo is a minerals exploration company focused on the northern Yilgarn Craton margin (Around 70km north of Crown Prince) and the Proterozoic -age Bryah Basin near to NMG’s Red Bore copper prospect. Parbo is led by well -regarded industry explorers and provides NMG with exposure to exploration upside in close proximity to its existing projects. The Company advanced its acquisition of the Yoothapina Station (P/L 3114/536 & 398/783) during the Quarter submitting various management plans to Department of Planning, Lands and Heritage (DPLH) for review. Yoothapina is located about 15 km north of Meekatharra, west of the Great Northern Highway, and is situated in the Shire of Meekatharra. It has an area of 135,534 ha and neighbours Buttah, Belele, Annean, Norie, Sherwood, and Killara stations, as well as the Meekath arra Common. A portion of the lease is detached and located east of the Great Northern Highway, about 35 km north- east of Meekatharra, and has common boundaries with Sherwood and Killara stations. Yoothapina has a number of mining tenements across the pastoral lease. NMG’s Crown Prince Operations are located on Yoothapina. The location of Crown Prince on the lease provides a significant advantage for the pastoral business, with access to machinery for road development and maintenance, support for bore monitoring, and a positive relationship with the Wajarri Yamaji Aboriginal Corporation. 155.6 201.7 70.9 98.1 1.5 4.7 27.3 1.9 0.2 2.7 0.2 1.3 - 25.0 50.0 75.0 100.0 125.0 150.0 175.0 200.0 225.0 250.0 275.0 300.0 Cash - 31/03/26 Implied gold sold under OPA OPA Costs and State Royalty Gold Ore Sales Other royalties Mining, crushing, site general Sustaining Capital Exploration & Growth Development Capital Corporate Interest Revenue Working capital movement Cash - 30/06/26 $m Decrease Increase OPA
Page 11
Page 11 of 14 newmurchgold.com.au Appendix 5B Related Party Information During the Quarter, related party payments totalled $70,000 (Item 6.1 in Appendix 5B) reflecting payments to Directors, including Directors’ fees and superannuation costs for the reporting period.
Page 12
Page 12 of 14 newmurchgold.com.au Schedule of Tenements Project Tenement Interest at Start of Quarter Interest at End of Quarter Acquired During the Quarter Disposed During the Quarter Joint Venture Partner/Farm- in Party Western Australia Red Bore M52/597 100% 100% Garden Gully Project Abernethy E51/2014 100% 100% Abernethy E51/2015 100% 100% Abernethy E51/1790 100% 100% Abernethy E51/1791 100% 100% Abernethy South E51/2012 100% 100% Abbotts E51/1609 100% 100% Abbotts E51/1708 100% 100% Abbotts M51/390 100% 100% Crescent M51/567 100% 100% Crown Prince M51/886 100% 100% Crown Prince M51/0926 100% 100% East Burnakurra E51/2002 100% 100% Kyara E51/2259 100% 100% Erivilla E52/4576 - 100% Granted 100% Kyarra L51/0138 100% 100% Kyarra L51/0139 100% 100% Kyarra L51/0144 - 100% Granted 100% Lake Annean E51/2013 100% 100% Lydia M51/889 100% 100% Rinichi E51/2150 100% 100% West Caledonian E51/2103 100% 100% Western Flank E51/1932 100% 100% Western Flank E51/1972 100% 100% Western Flank E51/1973 100% 100% Young/Ascuns E51/1661 100% 100% Young E51/1737 100% 100% Garden Gully Project Farm In Tenements Abernethy South E51/1888 Beneficial interest via JV (90%) Beneficial interest via JV (90%) Abernethy South E51/1924 Beneficial interest via JV (90%) Beneficial interest via JV (90%) Abernethy South E51/1963 Beneficial interest via JV (90%) Beneficial interest via JV (90%) East Burnakurra E51/1936 Beneficial interest via JV (51%) Beneficial interest via JV (51%) East Burnakurra E51/1989 Beneficial interest via JV (51%) Beneficial interest via JV (51%) Lake Annean E51/1709 Beneficial interest via JV (51%) Beneficial interest via JV (51%)
Page 13
Page 13 of 14 newmurchgold.com.au Authorised for release to ASX by the Board of New Murchison Gold Limited. For further information please contact: Alex Passmore Chief Executive Officer E: info@newmurchgold.com.au newmurchgold.com.au Jane Morgan Investor and Media Relations E: jm@janemorganmanagement.com.au Forward-Looking Statements This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning NMG’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should," and similar expressions are forward -looking statements. Alth ough NMG believes that its expectations reflected in these forward -looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource. Competent Person Statement Exploration Results The details contained in this report that pertain to Exploration Results are based upon, and fairly represent, information and supporting documentation compiled by Mr Costica Vieru, a Member of the Australian Institute of Geoscientists and a full -time employee of the Company. Mr Vieru has sufficient experience which is relevant to the style(s) of mineralisation and type(s) of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 editi on of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Vieru consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. Mineral Resources The information contained in this announcement that relates to Mineral Resources for Crown Prince, Cloudkicker and Lydia is based upon, and fairly represents, information and supporting documentation compiled by Mr Craig Stokes MAusIMM. Mr Stokes is a Principal Geologist with Stokes Geoscience with over 18 years in the mining industry and a Member of the Aust ralasian Institute of Mining and Metallurgy. The Competent Person has sufficient experience relevant to the style(s) of mineralisation and type(s) of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Stokes consents to the inclusion of information relating to the Mineral Resource Estimate as it appears in this report. The information contained in this announcement that relates to Mineral Resources for Abbotts is based upon, and fairly represents, information and supporting documentation compiled by Mr Lynn Widenbar FAusIMM. Mr Widenbar is the Principal of Widenbar and Associates, a consultant resource geologist with over 50 years experience and a Member of the Australasian Institute of Mining and Metallurgy. The Competent Person has sufficient experience relevant to the style(s) of mineralisation and type(s) of deposit u nder consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results,
Page 14
Page 14 of 14 newmurchgold.com.au Mineral Resources and Ore Reserves”. Mr Widenbar consents to the inclusion of information relating to the Mineral Resource Estimate as it appears in this report. Ore Reserves The Competent Person for the Ore Reserve estimate is Mr Hemal Patel, a mining engineer with more than 18 years’ experience in the mining industry. Mr Hemal is a Member of the AusIMM, a full-time employee of Has Holdings Pty Ltd and has sufficient open pit mining activity experience relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the JORC Code. Mr Hemal consents to the inclusion of information relating to the Ore Reserve in the form and context in which it appears. About New Murchison Gold New Murchison Gold Limited (ASX:NMG) is a mineral exploration and gold mining company which holds a substantial package of tenements in the prolific Murchison goldfield near Meekatharra, Western Australia. The Company is focused on the Garden Gully Gold Project which comprises a 6 19km 2 tenure package covering the Abbotts Greenstone Belt and other key regional structures. The Company operates the Crown Prince Gold Mine and has multiple gold deposits along the belt. Gold mineralisation in the belt is controlled by major north trending structures and contact zones between felsic and mafic metamorphosed rocks. As announced 25 June 2025 , the Company made a decision to develop the Crown Prince Gold Mine and completed its first blast on 30 June 2025. NMG commenced production in September 2025.
Page 15
Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity quarterly cash flow report Name of entity NEW MURCHISON GOLD LIMITED ABN Quarter ended (“current quarter”) 74 950 465 654 30 June 2026 Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 1. Cash flows from operating activities 81,074 265,717 1.1 Receipts from customers 1.2 Payments for - - (a) exploration & evaluation (b) development - - (c) production (29,697) (68,693) (d) staff costs – net of costs allocated to exploration and production costs (656) (1,575) (e) administration and corporate costs (759) (1,720) 1.3 Dividends received (see note 3) - - 1.4 Interest received 971 1,344 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other 10 21 1.9 Net cash from / (used in) operating activities 50,943 195,094 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (148) (1,199) (d) exploration & evaluation (3,715) (10,005) (e) investments (1,000) (1,000) (f) other non-current assets (Mine Properties) - (1,711)
Page 16
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other - - 2.6 Net cash from / (used in) investing activities (4,863) (13,915) 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - 842 3.4 Transaction costs related to issues of equity securities or convertible debt securities - (35) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other - - 3.10 Net cash from / (used in) financing activities - 807 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 155,649 19,743 4.2 Net cash from / (used in) operating activities (item 1.9 above) 50,943 195,094 4.3 Net cash from / (used in) investing activities (item 2.6 above) (4,863) (13,915) 4.4 Net cash from / (used in) financing activities (item 3.10 above) - 807
Page 17
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 201,729 201,729 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 56,729 90,649 5.2 Call deposits 145,000 65,000 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 201,729 155,649 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 70 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other - repayment - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. N/A
Page 18
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 50,943 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (3,715) 8.3 Total relevant outgoings (item 8.1 + item 8.2) 47,228 8.4 Cash and cash equivalents at quarter end (item 4.6) 201,729 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 201,729 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) N/A Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: N/A 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: N/A 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: N/A Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 21 July 2026 Authorised by: The Board (Name of body or officer authorising release – see note 4)
Page 19
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee] ”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.