Lady Herial Open Pit Progress Update

• General Meeting approved Ore Purchase Agreement
• Tenders received for mining services contract, preferred tenderer selected
• Geological model update in progress
• Regulatory approvals pending

Lunnon Metals Limited (ASX: LM8) has provided an update on matters relating to progress and preparations for the planned Lady Herial gold open pit at the Company's Foster-Baker Project (FBA) located in the St Ives gold camp, Kambalda, Western Australia. The key points are: 1) A General Meeting held on 6 November 2025 overwhelmingly approved the Ore Purchase Agreement (OPA) executed between the Company and St Ives Gold Mining Co. Pty Ltd (SIGMC), a wholly owned subsidiary of Gold Fields Ltd, and the Company's major shareholder. 2) Following an expression of interest process, the Company has selected Hampton Mining and Civil of Kalgoorlie as the preferred tenderer and notified them of the intention to award the mining services contract, subject to certain conditions. 3) Following recent reverse circulation drilling at Lady Herial, the geological model is currently being updated to enable review and agreement with SIGMC, as required by the OPA. 4) The Company has submitted the Mining Proposal/Mine Closure Plan and Native Vegetation Clearing Permit for Lady Herial to the Department of Mines, Petroleum and Exploration, and these approvals are currently pending.