• Existing fully permitted Central Gawler Mill adjacent to brownfield Challenger mines
• Challenger JORC (2012) Mineral Resources Estimate now 313koz Au
• Evaluating de-risked, two phase transition to operations with initial tailings reprocessing ('Phase 1') followed by high-grade fresh ore ('Phase 2')

Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) is pleased to announce that a Definitive Feasibility Study (DFS) has started, targeting 'Stage 1' production utilising the fully permitted Central Gawler Mill (CGM) located at Barton's South Australian Challenger Gold Project (Challenger). The JORC (2012) Mineral Resource Estimate (MRE) for Challenger was recently upgraded to 313koz Au, including 194koz Au high-grade fresh ore (~3.2 g/t Au) in or adjacent to existing serviceable open pit and underground development, and an historical Tailings Storage Facility 1 (TSF1) containing 56koz Au at a grade of 0.54 g/t Au. Barton is targeting March 2026 DFS completion and end of 2026 CGM commissioning, with 'Phase 1' operations reprocessing TSF1 materials, and 'Phase 2' then introducing fresh ore. Altris Pty Ltd (Altris) has been appointed to lead the DFS, with SRK Consulting (Australasia) Pty Ltd (SRK Consulting) completing TSF1 mining studies, Tetra Tech Coffey Pty Ltd (Tetra Tech Coffey) designing a tailings storage lift, and GPA Engineering Pty Ltd (GPA) supporting engineering, metallurgy and process plant design. Technical site visits will begin this week.

Barton is targeting March 2026 DFS completion and end of 2026 CGM commissioning, with 'Phase 1' operations reprocessing TSF1 materials, and 'Phase 2' then introducing high-grade fresh ore.