Results of Share Purchase Plan

• Raised $1.048 million through Share Purchase Plan
• Funds to be used for further exploration at Mt Mackenzie gold and silver project
• Placement and SPP fully underwritten to $1.5 million

QMines Limited (ASX:QML) has announced the results of its recent Share Purchase Plan (SPP). The SPP opened on 9th October 2025 and offered Eligible Shareholders the ability to acquire new fully paid ordinary shares in QMines at the same price as the recent $7.5 million placement. A total of $1,048,428.37 in valid SPP applications were received, and 19,062,290 new shares will be issued. Funds raised from the SPP and placement are being used to fund further exploration at the Company's high-grade Mount Mackenzie gold and silver project, including new target generation and for general working capital. Canaccord Genuity (Australia) Pty Ltd acted as Lead Manager to the SPP, which was fully underwritten to $1.5 million by Global ESG Investments Limited, subject to the Company obtaining shareholder approval at its upcoming annual general meeting (AGM). The new shares are expected to be issued on Friday 14th November, with the shares to start trading on 17th November 2025.