• Mt Boppy was historically one of New South Wales' richest gold mines
• Manuka has assessed the feasibility of a cutback to access >4g/t Resource beneath the pit floor
• The study has resulted in a Probable Ore Reserve of 290kt at 4.2g/t Au containing 39,000oz gold

Manuka Resources Limited (ASX: MKR) has announced the statement of a Probable Ore Reserve for the Mt Boppy Open Pit, which will deliver an additional 39,000 ounces of gold to the company's Cobar Basin production plan. Mt Boppy was historically one of New South Wales' richest gold mines, with an estimated ~500,000 ounces of gold mined at ~15g/t Au. Manuka has assessed the feasibility of undertaking a cutback of the existing Open Pit to access the >4g/t Resource located beneath the pit floor. The study has resulted in the statement of a Probable Ore Reserve for the Mt Boppy Open pit of 290kt at 4.2g/t Au containing approximately 39,000oz gold. Additional ounces have also been identified in the existing pit wall and in the lower flitch of the blasted bench remaining on the pit floor. The Mt Boppy Open Pit cutback project, upon execution, is expected to deliver a pre-tax NPV8 of A$43.2M and IRR of 64% to Manuka's Cobar Basin production plan. The Manuka Cobar Basin production strategy now comprises 19.0Moz of Silver and increases to 47koz of Gold. Exploration will also target near-pit and greenfields high grade mineralisation.

The Mt Boppy Open Pit Reserve reported in this announcement delivers an additional 39,000 ounces of gold to Manuka's Cobar Basin production plan.