• Term sheet signed with Nebari Natural Resources Credit Fund for US$22.5M loan facility
• Facility to fund restart of Wonawinta Silver Mine and repay existing debt
• Nebari is a leading mining and natural resources investor and financier

Manuka Resources Ltd (ASX: MKR) has executed a non-binding term sheet with Nebari Natural Resources Credit Fund II LP ('Nebari') for the provision of a 4-year senior secured loan facility of up to US$22.5 million. The facility will primarily be used to fund the restart of silver and gold production at the Wonawinta Silver Mine in Q2 2026 and to repay existing debt. Nebari is a leading mining and natural resources investor and financier based in the United States. Together with the recent A$15m capital raising, the funds available from the Nebari facility will ensure that Manuka is fully funded through to the production of silver at the Wonawinta Silver Mine and Plant, with the company targeting first silver production in Q2 2026. The facility will also enable Manuka to repay a portion of its existing debt and support the company's working capital requirements. Final credit approval and funding under the facility is contingent upon a range of conditions precedent including the completion of technical, commercial and legal due-diligence to Nebari's satisfaction.

Manuka's cashflow forecasts are highly leveraged to the silver price, with every US$1.00 increase in the price generating an additional A$20m for the company on a project basis.