• Genesis reaches agreement with rail owner PTA, operator Arc Infrastructure and Aurizon to shorten rail line
• Shortening rail line enables expansion of Leonora mill and development of Tower Hill open pit
• Tower Hill has 1Moz Reserve and remains open at depth

Genesis Minerals Ltd has reached agreements with the Public Transport Authority of Western Australia (PTA), below rail operator Arc Infrastructure and Australia's largest rail operator Aurizon, enabling the rail line at Leonora to be shortened. This will allow significantly more space for the proposed expansion of the Leonora mill and enable the planned Tower Hill open pit to be developed to the size required to fully access the deposit. Tower Hill, which would be developed via a single open pit, has a Reserve of 1Moz at 2g/t and an operating strip ratio of 9:1 (waste:ore). The deposit has been drilled to only ~450m deep despite being just 1km from Gwalia (>2km depth), and an underground transition study is underway. Tower Hill has generated an abundance of high-grade drill intercepts. The rail agreements are the latest in a series of significant milestones for Tower Hill, including the execution of a Mining Agreement with the Watarra Aboriginal Corporation RNTBC, receipt of the Stage 1 Mining Proposal and Mine Closure Plan, and receipt of the Stage 1 Native Vegetation Clearing Permit. Tower Hill is on track for mine development in FY27 and first ore in FY28, with planning underway for potential early development of Stage 1. Stage 2 mining is anticipated to start ~2 years after Stage 1 mining, and Stage 1 does not impact the rail line. FY26 costs associated with the rail project are expected to total approximately A$27m, with total cash and non-cash consideration payable by Genesis in connection with the rail shortening expected to total approximately A$80m.

Tower Hill is on track for mine development in FY27 and first ore in FY28. FY26 costs associated with the rail project are expected to total approximately A$27m.

Stage 2 mining at Tower Hill is anticipated to start ~2 years after Stage 1 mining, and Stage 1 does not impact the rail line. The rail agreements will enable the expansion of the Leonora mill and the development of the Tower Hill open pit.