• Proposed operation includes open pit, underground mine, 600ktpa CIL plant, and infrastructure
• 9-year life of mine, processing 3.29Mt @ 2g/t Au for 200koz of gold recovered
• Peak annual production of 37koz in Year 5, averaging 33kozpa in years 5-8

WIN Metals Ltd (ASX: WIN) has completed a Scoping Study for the Butchers Creek Gold Project, located 30km south-east of Halls Creek in Western Australia. The Study confirms the technical and financial viability of developing a standalone operation with both open pit and underground mining. The proposed operation includes a 600,000 tonne per annum Carbon-in-Leach (CIL) processing plant and associated infrastructure. The Life of Mine is 9 years, processing 3.29Mt @ 2g/t Au for 200koz of gold recovered. The full production profile is expected to average 33kozpa in years 5 to 8, with a peak annual gold production of 37koz in Year 5. The pre-production capital cost is estimated at A$142 million. The Scoping Study demonstrates robust financial outcomes, with a free cash flow of A$288 million, a Net Present Value (8%) of A$143 million, and an Internal Rate of Return of 25%. The payback period is 3.5 years. The Study is based on the Mineral Resources defined at the Butchers Creek deposit, with significant upside potential identified from ongoing exploration at Butchers Creek and the nearby Golden Crown gold deposit.

WIN Metals is entering the next phase at Butchers Creek with strong momentum and energy, moving swiftly to establish its licence to operate, advance feasibility studies, and progress toward project delivery. Butchers Creek is set to generate lasting value for shareholders, stakeholders and deliver meaningful economic benefits to the Kimberley region.