• Continued safe gold production and revenue from Boorara and Phillips Find
• Ongoing resource definition drilling at the Burbanks Project
• Acquired 100% interest in the Gordons Project near the Black Swan processing facility

Horizon Minerals Limited (ASX: HRZ) reported on its activities for the quarter ended 30 September 2025. The company continued to execute on its strategy of bringing its gold assets into production, generating strong cashflows during record high gold prices with its Boorara and Phillips Find Gold Projects. At Boorara, mining and ore haulage continued at a steady state, with 269k dry tonnes at 1.027 g/t Au mined for 8,874 oz and 6,549 oz of gold sold at an average gold price of $5,472/oz, generating ~$35.8 million in revenue. At Phillips Find, continued safe steady state production was achieved from the Newhaven and Newminster open pits, with 42,645 dry tonnes at 1.67 g/t processed for 2,147 oz at an average price of $5,694/oz, generating ~$12.2 million in revenue. The company also progressed the Pre-Feasibility Study for the integration of the Black Swan processing plant, with a focus on the brownfield refurbishment and upgrade of the comminution circuit, as well as the design of a new greenfield gravity and CIL circuit. Drilling continued at the Burbanks Gold Project, with the first batch of assay results from the Phase 1 infill program returning exceptional grades, including 1.55m at 99.65 g/t Au. Additionally, the company executed a binding agreement to acquire the Gordons Project near the Black Swan facility, which includes the Gordons Dam Deposit and further exploration upside.

Horizon Minerals reported continued safe gold production and revenue from the Boorara and Phillips Find operations during the quarter. No specific forward-looking financial metrics were provided.

The company is progressing the Pre-Feasibility Study for the integration of the Black Swan processing plant, with a focus on the brownfield refurbishment and upgrade of the comminution circuit, as well as the design of a new greenfield gravity and CIL circuit. Drilling is also continuing at the Burbanks Gold Project, with the aim of further expanding and growing the resource base.