• Develop's mining services contract with Bellevue Gold extended to end of CY2025
• Strong relationship and operational performance at Bellevue Gold
• Woodlawn mine recommissioning on budget and on schedule for production in Q2 2025

Develop Global Limited (ASX: DVP) has issued this announcement to address rumours circulating in the investment community. The company states that its Mining Services Division is contracted at Bellevue Gold operations until the end of CY2025, with Bellevue Gold having the option to extend the contract for a further 12 months. Develop has approximately 340 highly skilled personnel and 30 major pieces of mobile equipment at the Bellevue operation, which are difficult to replace in the current environment. The relationship between Develop and Bellevue is very strong, and the cooperation at the operational level is achieving record mine physicals, with March quarter development metres and ore tonnes mined both forecasted to be more than 20% above the December quarter's results. Bellevue Gold is also up to date with all payment terms associated with the mining contract. At Woodlawn, the recommissioning of the mine is on budget and on schedule for production and cashflow in the June quarter. The ball mill and copper flotation circuit have been successfully commissioned ahead of schedule, and saleable concentrate has been produced throughout the commissioning period. Underground stope ore production has also commenced this week. A more detailed update on the progress at Woodlawn will be released in April 2025.