• Challenger JORC (2012) Mineral Resources Estimate grows to 313koz Au
• Almost all mineralisation located near existing open pit and underground development
• Targeting lower-cost, de-risked two-phase transition to operations by end of 2026

Barton Gold Holdings Limited (ASX:BGD) is pleased to announce an updated Mineral Resources Estimate (MRE) for its South Australian Challenger Gold Project, with resources now exceeding 300,000oz Au. This follows detailed remodelling of gold mineralisation on or near existing development drives within the historical Challenger underground mine. The updated MRE includes 313koz Au (10.6Mt @ 0.92 g/t), with almost all mineralisation located in, on, or adjacent to, existing serviceable open pit and underground development, presenting opportunities for low-cost access and production. Barton is now moving directly to definitive Feasibility studies targeting a two-phase, de-risked development, with an initial high-grade tailings reprocessing phase (Phase 1) followed by the restart of fresh rock operations (Phase 2). The company is targeting the start of initial 'Stage 1' operations by the end of 2026. Preliminary engineering analysis has confirmed that full reinstatement of the Central Gawler Mill to its original 600ktpa fresh ore configuration is estimated at only A$26m (±30%). Barton's total JORC (2012) Mineral Resources gold endowment is now 2.23Moz (79.9Mt @ 0.87 g/t Au).

Barton is targeting the start of initial 'Stage 1' operations by the end of 2026.

Barton is moving directly to definitive Feasibility studies targeting a two-phase, de-risked development, with an initial high-grade tailings reprocessing phase (Phase 1) followed by the restart of fresh rock operations (Phase 2).