Quarterly Activities/Appendix 5B Cash Flow Report

• Completion of the acquisition of the high-grade Mt Mackenzie gold and silver project
• Upgraded Mt Mackenzie resource to 3.3Mt @ 1.40g/t Au and 8.4g/t Ag
• Scoping study confirmed a Production Target estimate of 930kt @ 1.73% CuEq at Scorpion-Window

QMines Limited (ASX:QML) delivered on key milestones across its Central Queensland copper and gold portfolio during the quarter, underpinning the expanded, multi-asset strategy. The Company finalised the acquisition of the high-grade Mount Mckenzie Gold-Silver Project and completed a further 1,802 metres of drilling at the Develin Creek Copper-Zinc Project, confirming multiple high-grade copper and zinc intersections and strengthening geological continuity at the Sulphide City deposit. In parallel, pit optimisation work at Scorpion-Window delivered a new 930kt @ 1.73% CuEq production target, and preparations were finalised for the maiden drilling program at Mount Mackenzie. Together, these activities continue to expand QMines' resource base and underpin progress toward establishing a multi-deposit, long-life copper and gold operation centred on the Mt Chalmers Processing Hub. The Company also completed the 100% acquisition of the high-grade Mount Mackenzie Gold and Silver Project and raised $7.5 million through a placement, strengthening the balance sheet and accelerating exploration and development works.

• Release of pending drill results from the Sulphide City deposit
• Delivery of updated Develin Creek Mineral Resource Estimate
• Continuation of Mount Mackenzie drilling program
• Progress of PFS metallurgical and design integration for the 2 Mtpa Mt Chalmers Hub