• OIP Mineral Resources increased by 89% to 744Mt at 56.3% Fe
• OIP Ore Reserves increased by 73% to 359Mt at 57.5% Fe
• Onslow Iron confirmed as a long-life, low-cost project to underpin growth

Mineral Resources Limited (ASX: MIN) has provided an updated Mineral Resources and Ore Reserves statement for the Onslow Iron Project (OIP) in Western Australia as of 31 March 2025. The key highlights include:- OIP Mineral Resources of 744 million tonnes (Mt) at 56.3% Fe, representing an 89% increase from the previous estimate. This consists of 508Mt at 56.8% Fe as Measured/Indicated and 236Mt at 55.2% Fe as Inferred.- OIP Ore Reserves of 359Mt at 57.5% Fe, representing a 73% increase from the previous estimate. The Ore Reserves include the Ken's Bore, Upper Cane, and Cardo Bore East deposits.- The Mineral Resources increase is attributed to closer-spaced drilling, comprehensive remodelling, and reclassification of additional deposits within the OIP. The grades for iron and other deleterious elements remain consistent with the previous estimates.- The updated figures reaffirm the confidence in Onslow Iron's potential to operate for decades as a long-life, low-cost project that will underpin the next phase of growth for Mineral Resources' Iron Ore and Mining Services divisions.- The company is well on track to establish Onslow Iron as one of Australia's premier iron ore operations, with the production ramp-up accelerating in recent weeks.

Mineral Resources has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The company's focus remains on building on the strong foundation of the Onslow Iron Project, unlocking further potential in the West Pilbara, and delivering ongoing value to all stakeholders.