• Processing Hub confirmed as preferred development approach
• Long-Life, Stable, 100kozpa Production Profile
• Capital Efficient Outcome with Low AISC
• Strong Project Economics with Reduced Environmental Disturbance

St Barbara Limited is pleased to announce the results of the Concept Study for the integration of the Cochrane Hill Project with the 15-Mile Processing Hub. The Concept Study confirms that the optimal development approach is for a 3 Mtpa processing plant at 15-Mile (relocated from Touquoy with the addition of a new 5.5MW ball mill to replace the existing 3.5MW ball mill and one additional leach tank). Mill feed from Beaver Dam and Cochrane Hill would be transported by road to the processing hub. The Concept Study estimates an average gold production of approximately 106 kozpa over an 11 year mine life, with an estimated low Initial Capital of approximately C$251 million (A$279 million) and estimated LOM All-In Sustaining Costs ('AISC') averaging approximately US$1,197 per ounce (A$1,898 per ounce). The Concept Study estimates a Post-tax NPV5% of approximately A$1,084 million and a Post-tax IRR of approximately 76% (using a gold price of US$2,500/oz). The integration of Cochrane Hill has also allowed for significantly reduced environmental disturbance across the projects.

The Concept Study estimates average annual gold production of approximately 106 kozpa over an 11 year mine life.

The Pre-Feasibility Study and Ore Reserve Update for the 15-Mile Processing Hub and for Cochrane Hill specifically are underway and are anticipated to be finalised in Q3 Mar FY26.