FIRB Approval - 50% interest in Central Tanami Gold Project

• FIRB approves MGX's $50 million acquisition of 50% interest in Central Tanami Gold Project
• Final condition relates to infrastructure arrangements with Central Land Council
• MGX expects to complete acquisition ahead of 31 March 2026 deadline

MGX Resources Limited (MGX) has received approval from Australia's Foreign Investment Review Board (FIRB) for its $50 million acquisition of a 50% interest in the advanced Central Tanami Gold Project Joint Venture (CTPJV) in the Northern Territory from Northern Star Resources. FIRB approval was a key condition precedent for MGX to proceed with the acquisition, and has been granted subject to conditions typical for this type of transaction. The remaining condition for the acquisition relates to MGX securing an extension of existing infrastructure arrangements on one tenement from the Central Land Council, the Traditional Owner representative body. MGX is encouraged by the positive nature of its engagement with the Central Land Council to date and anticipates being in a position to complete the transaction ahead of the contractual deadline of 31 March 2026. The acquisition represents a compelling opportunity for MGX to establish itself as a long-life Australian gold producer, and the company looks forward to working with Tanami Gold NL, which holds the other 50% of the CTPJV, to accelerate the project to a development decision within the next 12-18 months.

MGX expects to complete the acquisition of a 50% interest in the Central Tanami Gold Project ahead of the 31 March 2026 deadline, and work with Tanami Gold NL to accelerate the project to a development decision within the next 12-18 months.