• Progressing Que River Project in Tasmania with positive Scoping Study completed
• Monetizing surplus equipment and spares from Madagascar operations
• Engaging with governments and potential partners on Graphmada Graphite asset

Greenwing Resources Ltd (ASX:GW1) has provided an update on its activities and progress for the quarter ended 30 September 2025. The company has a portfolio primarily focused on lithium and graphite assets, as well as the Que River Polymetallic Asset in Tasmania. At the Que River Project, the company completed and lodged a positive Scoping Study, outlining a low-cost pathway to early cash flow through redevelopment of existing open pits and utilisation of nearby, established regional processing infrastructure. In Madagascar, the company continues to execute its strategy of monetizing surplus equipment and spares from operations, with approximately A$150,000 in proceeds received during the quarter. The company also notes the release of measures by the U.S. Department of Commerce and Trade aimed at diversifying global graphite supply chains, and has commenced discussions with government agencies and potential strategic partners regarding pathways for investment and collaboration at its Graphmada Graphite asset. At the San Jorge Lithium Project in Argentina, field activity was limited during the quarter as the company maintained a focus on cost discipline and capital preservation, but the company will travel to Argentina in November to discuss forward development strategies and partnership opportunities. The company remains of the view that the long-term fundamentals of the lithium market remain intact.