• Sulphide City drilling program successfully completed with 46 holes for ~8,800m of RC and diamond drilling
• Drilling confirmed multiple zones of high-grade copper-zinc-gold-silver mineralisation
• Stacked mineralised horizons continue to expand the Sulphide City footprint, with mineralisation open in several directions

QMines Limited (ASX:QML) is pleased to report further strong drilling results from the 2025 infill and extensional drilling program at the Sulphide City deposit at the Company's Develin Creek copper-zinc project in Central Queensland. The latest assays confirm horizons of massive and semi-massive sulphide mineralisation, extending known zones both down-dip and along strike. Drilling continues to demonstrate consistent geology and grade continuity across the central portions of the deposit, with several holes intersecting thick intervals of copper-zinc mineralisation. The 2025 program (now completed) totalled 46 holes for over 8,800 metres of RC and diamond drilling and marks one of the most comprehensive drill campaigns completed at Develin Creek to date. Data compilation, modelling and metallurgy integration are now underway to support optimisation studies and the next phase of development planning. The Sulphide City deposit geology appears to be somewhat different in style than that found at the Scorpion and Window deposits, with a complex primary depositional environment exhibiting not only distinct massive and semi-massive sulphide bodies but also stockwork and disseminated sulphide. Upcoming milestones include finalising the Develin Creek drilling results, undertaking Sulphide City optimisation, commencing maiden drilling at Mount Mackenzie, and advancing open pit mine designs and mine plans for the Scorpion-Window pit and Sulphide City. PFS-level metallurgical testwork is also progressing, and a standalone scoping study is in development to evaluate the combined project's initial economic parameters.

No high-importance, price-sensitive forward-looking financial metrics were provided in the announcement.

The announcement indicates that QMines is advancing several parallel workstreams as it moves toward the delivery of an updated Pre-Feasibility Study (PFS) in H1 2026. These upcoming activities are designed to increase project definition, extend mine life, and optimise the economics of the Company's planned centralised processing plant at Mount Chalmers. The revised updated PFS is scheduled to be completed in H1-2026.