• Acquisition of 100% of the White Dam Gold Operation in South Australia
• Historic production of ~180,000oz of gold and JORC 2012 Resource of 102Koz
• Significant infrastructure footprint including open pit mines, heap leach pad, and gold extraction plant

Pacgold has executed a Share Sale and Purchase Agreement to acquire the White Dam Gold Operation located in South Australia. The project has produced ~180,000oz of gold from heap leaching 7.5Mt of ore at 0.94 g/t Au, with a remaining JORC 2012 Resource of 4.6Mt @ 0.7 g/t Au for 102Koz. The operation includes open pit mines, a heap leach pad, a fully operational gold extraction plant, and related infrastructure. Pacgold is targeting near-term cash flow through retreatment and re-crushing of existing heap leach material, with minimal future expansion capital required. The project is located near well-established mining services and workforce, approximately 80km southwest of Broken Hill. The total consideration for the acquisition comprises a $1.2 million upfront cash payment, the issue of 15 million Pacgold shares, and a $2.2 million contingent payment upon achieving commercial production of at least 5,000oz of gold. Pacgold has engaged Bell Potter and Taylor Collison to undertake a capital raise to secure funding for the acquisition and restart of the White Dam project.

Pacgold is targeting near-term cash flow from the White Dam Gold Operation through retreatment and re-crushing of existing heap leach material, with an initial focus on the first 12 months of operation.

Pacgold plans a three-phase approach to recommence operations at White Dam, including short-term focus on extracting remaining gold from the heap leach, medium-term near-mine exploration and expansion, and longer-term regional exploration and potential acquisitions to add mine life and resources.