• Inaugural Preliminary Economic Assessment (PEA) demonstrates robust economic cases for standalone processing plant or toll treatment options
• PEA covers just 22% of total silver-lead resource base, leaving significant upside potential
• Memorandum of Understanding signed with Austral Resources for potential regional toll treatment

Maronan Metals (ASX: MMA) has released a Preliminary Economic Assessment (PEA) for the Starter Zone of its Maronan silver-lead and copper-gold project in Northwest Queensland, marking a significant milestone for the company. The PEA demonstrated robust economic development cases for both a standalone processing plant and a toll treatment option. The standalone processing option has an NPV(8%) of A$377 million, an IRR of 37%, and a 4-year payback period, with pre-production capital of A$266 million and all-in sustaining costs of A$30.18 per ounce of silver equivalent. The toll treatment option has an NPV(8%) of A$362 million, an IRR of 67%, and a 2-year payback period, with pre-production capital of A$98 million and all-in sustaining costs of A$36.43 per ounce of silver equivalent. Importantly, the Starter Zone represents only 22% of the global silver-lead resources and less than 10% of the copper-gold resources, leaving substantial growth opportunities not included in this study. The company has also signed a non-binding Memorandum of Understanding with Austral Resources to evaluate potential toll treatment at the Rocklands processing facility near Cloncurry, which aligns with Maronan's strategy to explore cost-effective processing pathways. The company has been actively progressing the project, with the submission of an Environmental Assessment Application and the recommencement of fieldwork programs, including surface diamond drilling. Additionally, Maronan has completed a $16 million placement and launched a share purchase plan to further strengthen its financial position and support the next phase of project advancement.

Maronan Metals is well-positioned to advance the Maronan project, with the positive PEA results, the potential for toll treatment, and the strengthened financial position following the recent capital raising. The company remains focused on progressing the project towards development, with the objective of becoming one of Australia's next big silver producers.