Updated Cobar Basin Production Plan

• 10 Year Mine Plan to produce 13.2 million ounces of silver from existing stockpiles and open pits
• Additional gold ore from Mt Boppy to be processed at the Wonawinta Processing Plant
• Forecast to generate an average EBITDA of A$22M p.a. at an average cost of A$35/oz silver

Manuka Resources Limited is pleased to announce a 10-Year Mine Plan for the Wonawinta Silver Mine located 80km south of Cobar, New South Wales. The plan outlines the mining and processing of 10.7Mt of ore containing 19.0Moz of silver and 7.7koz of gold. The ore will be sourced from existing stockpiles at Wonawinta and Mt Boppy, as well as five open pits adjacent to the Wonawinta processing plant. The plan is forecast to generate an average EBITDA of A$22M per annum at an all-in sustaining cost of A$35/oz silver, resulting in an NPV8 of A$101M and an IRR of 109%. The project will commence with the reclamation and processing of existing stockpiles in January 2026, followed by the commencement of mining in June 2026. The Wonawinta processing plant will be upgraded with a new desliming circuit to enhance throughput and leach performance. The total pre-production capital requirement is estimated at A$18.9M. The Company is in advanced discussions with prospective financiers to refinance the existing debt facility and fund the project capital and restart costs.

The 10-Year Mine Plan is forecast to generate an average EBITDA of A$22M per annum at an all-in sustaining cost of A$35/oz silver.