• Lycopodium awarded EPCM contract for Osino's Twin Hills Gold Project in Namibia
• Contract valued at approximately A$40 million, with first gold anticipated in Q1 2027
• Lycopodium has extensive expertise in developing gold mines in the region

Lycopodium Limited ('ASX: LYL', 'Lycopodium' or 'the Company'), a global leader in integrated engineering, construction and asset management solutions, is pleased to announce the successful award of the EPCM Services contract for the development of Osino Gold Exploration and Mining (Pty) Ltd's ('Osino') Twin Hills Gold Project in Namibia. The scope under the contract is valued at approximately A$40 million, with delivery commencing immediately and first gold anticipated in Q1 2027. The project is located in central Namibia within the Damara Orogenic Belt, approximately 150 kilometres northwest of Windhoek and 20 kilometres from Karibib. Lycopodium has been involved in the project since the initial Preliminary Economic Assessment (PEA) in 2021, followed by the Pre-feasibility Study (PFS) in 2022 and the Definitive Feasibility Study (DFS) in 2023. The Company has also been progressing the Front End Engineering and Design (FEED) scope for the process plant over the past 12 months. The scope includes the engineering, design, procurement, construction management and commissioning of the 5 Mtpa conventional Carbon-in-Leach (CIL) processing plant and associated non-process infrastructure. Lycopodium has extensive expertise in developing gold mines in the region, having been involved in the nearby Navachab and Otjikoto gold mines, and is looking forward to leveraging this experience to deliver the Twin Hills project successfully.

Lycopodium is well-positioned to deliver the Twin Hills Gold Project, leveraging its extensive expertise in developing gold mines in the region. The award of this contract further supports the Company's future earnings.