• Improvements in Nova Scotia permitting environment applauded
• Company withdraws Supreme Court appeal on Touquoy reclamation conditions
• Investigation commences on re-opening Touquoy to treat low and medium grade stockpiles

St Barbara Limited (ASX: SBM) is pleased to announce the withdrawal of its Touquoy Reclamation Industrial Approval (IA) Supreme Court appeal, and the commencement of investigations into re-opening the Touquoy Mine to process low and medium grade stockpiles that totalled approximately 3.1 million tonnes at an average gold grade of ~0.46 g/t when the applicable Ore Reserve was written off in FY24. The company is encouraged by the significant improvement in the permitting environment in Nova Scotia, particularly the progress made with the creation of the Large Industrial File Team (LIFT) to pool expertise within the regulator from across its regional offices. As a result, the company has withdrawn its Supreme Court appeal that sought formal mediation on reclamation design criteria and commenced an investigation into re-opening Touquoy for treatment of low and medium grade stockpiles left at closure. The proposed pathway to treat the stockpile material would be based on an amendment to the Industrial Approval, to be prepared in conjunction with the NSECC LIFT group and submitted within the next six months to allow for in-pit tailings deposition at the Touquoy Operations. Subject to approval, operations are envisaged to be in a position to restart within 6 to 12 months after approval is received. Restarting Touquoy would return mining and employment to rural Nova Scotia in a manner which does not jeopardise the planned reclamation of the site, nor the proposed relocation of the processing plant facility to its proposed future location at 15-Mile to create a new multi-year development proposal.

The evaluation of a Touquoy restart to process stockpiles is expected to be completed by end of Q2 December FY26, encompassing permitting, engineering and mill restart requirements. In parallel, St Barbara will prepare proposed Industrial Approval amendments necessary for re-opening Touquoy and the use of in-pit tailings deposition.