• Uniquely positioned with two large copper metal endowments in a tier 1 jurisdiction
• Ongoing productivity and cost improvement at Golden Grove; progress the imperatives for a future restart of Capricorn Copper
• High-grade copper intercepts highlight potential mine life extensions at Gossan Hill and Cervantes' potential as a high-quality future growth option

29Metals Ltd released its September 2025 quarterly report, providing an update on its key operations and exploration activities. The company is uniquely positioned with two large copper metal endowments in Western Australia and Queensland, with 2Mt of contained copper in Mineral Resource estimates. At the Golden Grove operation, the company focused on maximizing operating cash flow and delivering the Gossan Valley project. Safety performance improved, with the group's Total Recordable Injury Frequency (TRIF) and Lost Time Injury Frequency (LTIF) metrics declining quarter-on-quarter. Copper production was 5.8kt, while zinc production was impacted by restricted access to high-grade zinc stopes in the Xantho Extended area due to seismic activity. The company revised its 2025 guidance for zinc and precious metals production, but maintained its copper production guidance.At the suspended Capricorn Copper operation, the company made progress on the key imperatives for a successful and sustainable restart, including reducing water inventory, progressing a long-term tailings storage solution, and continuing to reduce suspension costs. An Environmental Enforcement Order was received, providing more flexibility for water management.The company also highlighted positive exploration results at Golden Grove, with high-grade copper intercepts demonstrating potential mine life extensions at Gossan Hill and highlighting Cervantes as an attractive future growth option. Exploration expenditure is expected to increase significantly in 2025 to test these priority targets.Overall, the quarterly report demonstrated 29Metals' focus on operational improvements, cost discipline, and advancing its growth pipeline to unlock value for shareholders.

29Metals' 2025 copper production guidance is maintained at 22 - 25kt. However, the company has revised its 2025 guidance for zinc production to 35 - 40kt (previously 57kt) and gold production to 15 - 20koz (previously 21koz), due to the impact of restricted access to high-grade zinc stopes at Xantho Extended.