• New assays support higher-grade model for Tunkillia S1 'Starter Pit' mineralisation
• Tunkillia 'S1' pit modelled to produce $825m operating profit in first year of operations
• Balance of Phase 1 infill drilling assays expected by January 2026, targeting conversion of Tunkillia's 'S1' and 'S2' mineralisation to JORC 'Measured' and 'Indicated' categories by March 2026

Barton Gold Holdings Limited (ASX:BGD) is pleased to announce first assay results from recent drilling at its South Australian Tunkillia Gold Project. These assays confirm broad new intervals of high-grade gold mineralisation which infill the central portion of Tunkillia's S1 'Starter Pit', emphasising the high-value nature of this zone to Tunkillia's development. The central portion of the 'S1' pit contains a shallow, ~300m long zone of higher-grade gold mineralisation within a broad (80 - 100m wide) zone of bulk open-pittable mineralisation. This central zone is of particularly high value to the 'S1' pit, and drilling in this area is targeting upgrade to 'Measured' category. New assays from recent 'S1' infill drilling have yielded numerous intersections showing broad intervals of high-grade mineralisation in this central zone, including 13 intersections with grade x metre (g-m) intervals over 50, 2 intersections with g-m intervals over 100, and dozens of intersections grading over 5 g/t Au. The 'S1' pit is modelled to yield 206koz Au at a cost of only A$997 / oz, producing A$825m operating cash and repaying development 2x over during the first year of operations. The 'S1' and 'S2' pits together are modelled to yield 365koz Au and A$1.3bn operating cash in the first 2.5 years alone. Barton is targeting the conversion of Tunkillia's 'S1' and 'S2' optimised open pit mineralisation to JORC 'Measured' and 'Indicated' categories by March 2026.

The Tunkillia 'S1' pit is modelled to produce $825 million in operating profit in the first year of operations, from an average grade of 1.19 g/t Au. The 'S1' and 'S2' pits together are modelled to yield 365koz Au and $1.3 billion in operating cash in the first 2.5 years.

Barton is targeting the conversion of Tunkillia's 'S1' and 'S2' optimised open pit mineralisation to JORC 'Measured' and 'Indicated' categories by March 2026. The balance of Phase 1 infill drilling assays are expected by January 2026, and a second phase of upgrade drilling is planned for March to June 2026, targeting conversion of all other Tunkillia open pit mineralisation to JORC 'Indicated' category.