• NMR signs binding term sheet with GDM to form unincorporated JV to mine and process ore from GDM's Yellow Jack Gold Project
• Yellow Jack has a maiden Inferred Mineral Resource Estimate of 1.84Mt at 0.86 g/t gold for 51,100oz contained gold
• GDM will pay all site-based operational, infrastructure, utility, staffing, and safety activities, including ore processing at NMR's Blackjack Operations

Native Mineral Resources Holdings Limited (ASX: NMR) has signed a binding term sheet with Great Divide Mining Limited (ASX: GDM) to form an unincorporated joint venture to mine and process ore from GDM's Yellow Jack Gold Project at NMR's Blackjack Operations in northern Queensland. The Yellow Jack project has a maiden Inferred Mineral Resource Estimate of 1.84Mt at 0.86 g/t gold for 51,100oz contained gold. Under the joint venture, GDM will undertake mining at Yellow Jack and haul the ore to Blackjack, where NMR will process the ore. GDM will pay all site-based operational, infrastructure, utility, staffing, and safety activities, including ore processing (crushing, grinding, concentration, flotation, drying, weighing) and associated costs incurred by the joint venture. Profits will be equally shared after mining, transport and processing costs. Concurrently, NMR will continue to process ore from its Blackjack and Far Fanning deposits, having commenced mining at Blackjack in June 2025 and poured first gold in July 2025. The transaction is subject to conditions precedent, including a nine-month due diligence period and any required shareholder approvals.

NMR expects the joint venture to be mutually beneficial, with potential for this to be the first of its agreements for utilizing Blackjack's full plant capacity. GDM is keen to bring a second project on-line, with near-term cash flow.