• $253 million, 4-year mining contract with Byrnecut Australia
• Enables operational and commercial synergies across Golden Grove operations
• Gossan Valley project on track for first ore by end of 2026

29Metals Limited (ASX: 29M) has announced the award of a four-year underground mining contract to Byrnecut Australia Pty Ltd for the Gossan Valley mine at Golden Grove, following a competitive mining contract tender process. As the incumbent mining contractor for the Gossan Hill and Scuddles mines at Golden Grove, the Gossan Valley contract award to Byrnecut enables operational and commercial synergies, which include the ability to share equipment and personnel across Golden Grove mining operations. The Gossan Valley mining contract is a fixed & variable (schedule of rates) agreement with forecast expenditure of $253 million over a four-year term (November 2025 to October 2029). There are no material conditions that need to be satisfied in relation to the contract. The Gossan Valley project remains on track for first ore by end of 2026. When in production, Gossan Valley is expected to enhance the Golden Grove life-of-mine plan by providing a replacement, higher grade, ore source for declining Scuddles ore production, mining simplicity as an independent and relatively shallow mining front, and potential to extend Gossan Valley Mineral Resources estimates, which remain open at depth.

The Gossan Valley project remains on track for first ore by end of 2026. When in production, Gossan Valley is expected to enhance the Golden Grove life-of-mine plan by providing a replacement, higher grade, ore source for declining Scuddles ore production, mining simplicity as an independent and relatively shallow mining front, and potential to extend Gossan Valley Mineral Resources estimates, which remain open at depth.