• Underground mining at Burbanks historically produced 324koz @ 22.7g/t Au
• Horizon commenced a 30,000m drilling program in late June 2025, with the initial 15,000m targeting mostly infill to upgrade the existing resource
• Eighteen of the planned 45 Phase 1 holes have been drilled with assays returned for 15 holes, with highlights including 1.55m @ 99.65g/t Au

Horizon Minerals Limited (ASX: HRZ) is pleased to provide an update on the drilling program under way at its 100% owned high-grade Burbanks gold project, located 9km south of Coolgardie in the Western Australian Goldfields. Underground mining at Burbanks historically produced 324koz @ 22.7g/t Au, in addition to the existing JORC (2012) Mineral Resource of 6.1Mt grading 2.4g/t Au for 466koz. Horizon commenced a 30,000m drilling program in late June 2025, with the initial 15,000m targeting mostly infill to upgrade the existing resource. Eighteen of the planned 45 Phase 1 holes have been drilled with assays returned for 15 holes, with highlights including 1.55m @ 99.65g/t Au from 336.3m, 5.3m @ 3.49g/t Au from 235.7m, 1.7m @ 37.18g/t Au from 71.0m, and 3.7m @ 5.13g/t Au from 222.4m. The infill drilling at Burbanks North has confirmed the position and grade of existing mineralisation lodes, extended known high-grade mineralisation trends to the west and infilled along the margins of the Mineral Resource Estimate. Hole 25HBBD008 successfully targeted the downdip extension of the high-grade gold mineralisation beneath the Main Lode at Burbanks, extending the known trend 70m beneath the historical workings. A second diamond drilling rig has been mobilised to Burbanks to accelerate the Phase 1 drilling program, which is scheduled for completion in December 2025. An updated Mineral Resource Estimate is expected in the June 2026 quarter, followed by Ore Reserve studies.

The 15,000m Phase 2 extensional drilling program aimed at growing the resource base at Burbanks is planned to commence early in 2026.