• Intention to separate Atlantic Gold Operations in Nova Scotia, Canada
• Separation decision to unlock value and advance Atlantic under a Canadian-listed company
• St Barbara to focus on Simberi Gold Operations in Papua New Guinea

St Barbara Limited announces its intention to separate the Atlantic Gold Operations in Nova Scotia, Canada from the company. The Atlantic Gold Operations include the 15-Mile, Beaver Dam, and Cochrane Hill projects, which have a total of 1.4 Moz in Ore Reserves and 2.0 Moz in Mineral Resources. The decision to separate Atlantic follows a portfolio review, which concluded that this initiative would maximize shareholder value by advancing Atlantic through development and permitting proposals under a Canadian company with a local leadership team. The separation will enable St Barbara to focus solely on the Simberi Sulphide Expansion Project in Papua New Guinea, which is expected to lift gold production above 200kozpa and extend Simberi's life by more than 10 years. Options for the separation include sale, vend-in, or demerger, subject to necessary approvals. St Barbara has appointed Macquarie Capital (Australia) Limited as financial adviser and King & Wood Mallesons as legal adviser for the separation process, which is expected to be completed in H1 FY26.

Following the separation of Atlantic, St Barbara will focus on the delivery of the Simberi Sulphide Expansion Project in Papua New Guinea, which is expected to lift gold production above 200kozpa and extend Simberi's life by more than 10 years.