• Ramp-up of milling delivers 6,310 wet metric tonnes of quality concentrates
• Cashflow from forward sales continues to meet operating costs, including debt repayment
• First 11,000 wmt zinc concentrate shipment scheduled for October

Polymetals Resources Ltd (ASX: POL) has provided an update on operations at the Endeavor silver zinc mine in Cobar, NSW. The company reported that August marked another month of solid progress, with the ramp-up of milling delivering 6,310 wet metric tonnes (wmt) of quality silver-lead and zinc concentrates. The results reflect the team's strong operational focus on optimizing mining and processing. Cashflow from forward sales continues to meet operating costs at this early stage of start-up, including a debt payment of US$2.5 million. Logistics are also advancing well, with the first 11,000 wmt of zinc concentrate scheduled to depart Adelaide for the Onsan smelter in South Korea during October, a key commercial milestone. Access has now been established to the first of three zones in the high-grade silver Upper North Lode (UNL), and metallurgical test work is in progress to define optimal processing parameters. On the exploration front, the company is actively pursuing near-mine drilling, seismic surveys, and commencing regional work. Polymetals has also commenced independent metallurgical test work to evaluate options to unlock the significant gold and silver (as well as lead and zinc) mineral inventory contained in the existing stored tailings. The company is pleased to be included in the ASX All Ordinaries Index on 22 September 2025, which is a direct result of the hard work of its employees and management, along with the financial support from shareholders.

The company remains focused on the ramp-up of production at the Endeavor mine, with plans to commence continuous high-grade ore extraction from the Upper North Lode in October. Exploration activities, both near-mine and regional, are also ongoing to support the long-term growth pipeline. Additionally, the company is evaluating options to unlock value from the existing stored tailings, which could potentially extend the mine life to 20 years.