• Announced agreement to acquire 50% of Central Tanami Gold Project
• Koolan Island iron ore operation performing to plan, sales of 0.55 Mwmt
• Group cash and investments of $473 million, no bank borrowings

Mount Gibson reported on its activities for the September 2025 quarter, highlighting the transformational agreement to acquire a 50% interest in the Central Tanami Gold Project in Australia's Northern Territory. Work during the quarter has focused on satisfying and advancing the key conditions of the acquisition, with completion expected by 31 March 2026. At the company's Koolan Island iron ore operation, performance was consistent with FY26 plans, with iron ore sales of 0.55 million wet metric tonnes (Mwmt) at an average grade of 64.3% Fe. The operation generated cashflow of $12 million before capitalised stripping costs and mineral royalties. Cash operating costs averaged $111/wmt (US$73/wmt) Free On Board (FOB) and are anticipated to progressively reduce over the remaining final year of the mine life. The group recorded a cash outflow of $3 million for the quarter, with the company's cash and investment reserves totalling $473 million at 30 September 2025, equating to approximately $0.40 per share. Mount Gibson does not have any bank borrowings. Guidance for FY26 is for shipments of 3.0-3.2 Mwmt at an average annual cash operating cost of $80-85/wmt (US$50-55/wmt) FOB. The company will seek shareholder approval to change its name to MGX Resources Limited to better reflect its planned transition to a producer of multiple mineral commodities.

Guidance for FY26 is for shipments of 3.0-3.2 Mwmt at an average annual cash operating cost of $80-85/wmt (US$50-55/wmt) FOB.