• 15-Mile Processing Hub Prefeasibility Study on track for Q3 March FY26
• Improving Nova Scotia resource development and permitting environment
• Closure and reclamation activities deliver strong results in FY25

ST Barbara Ltd has provided an update on its Nova Scotia operations, highlighting several key developments. The 15-Mile Processing Hub Prefeasibility Study is on track for completion in Q3 March FY26, with the study evaluating the integration of Cochrane Hill into the previously proposed combination of 15-Mile and Beaver Dam, but at higher throughput. The company notes a continuing improvement in the Nova Scotia resource development and permitting environment, including the inclusion of gold on the list of Provincial Strategic Minerals and the establishment of a new Large Industrial File Team by the regulator for resource projects. Closure and reclamation activities in FY25 have delivered strong results, with A$14 million in gold sales recovered from the decommissioning of the Touquoy processing plant and A$12 million in reclamation works completed, bringing the total to A$18 million since closure. Research work in FY25 is also anticipated to reduce the reclamation cost estimate by a further A$7 million. The company is also progressing the development opportunity for a Pumped Hydro Open Pit Energy Storage and Solar Facility at the Touquoy mine site, with a conceptual design completed and engagement on pricing of the energy storage capability to the Nova Scotia grid underway. Additionally, the company has restructured its Nova Scotia subsidiaries, with the 15-Mile, Beaver Dam, Cochrane Hill projects, regional exploration portfolio, and Touquoy Mill transferred to a new subsidiary focused on future gold developments, while the existing subsidiary will focus on the Touquoy mine reclamation and the Pumped Hydro Open Pit Energy Storage and Solar Facility. As part of this restructuring, the company has reduced the non-cash carrying value of exploration tenements and freehold land in Nova Scotia by C$33.7 million (approximately A$37.8 million).

The company continues to see significant value in Atlantic's existing resource base, production-ready infrastructure, and extensive exploration positioning in Nova Scotia. The company is also focused on the development of pricing expectations for the energy storage capability of the Pumped Hydro Open Pit Energy Storage facility in the Nova Scotia context and on discussions with First Nations for collaboration on investment opportunities.