• Acquisition of 100% of the White Dam Gold Operation in South Australia
• Historic production of ~180,000oz of gold, with a remaining JORC 2012 Resource of 102Koz
• Significant infrastructure footprint including open pit mines, heap leach pad, and gold extraction plant

Pacgold Ltd has successfully completed the acquisition of 100% of the White Dam Gold Operation (Project) in South Australia from GBM Resources Ltd. The White Dam Gold Operation was operational from 2010 to 2018, producing approximately 180,000oz of gold from heap leaching 7.5Mt of ore at 0.94 g/t Au. Production was from two pits, Hannaford and Vertigo, with a remaining JORC 2012 Resource of 4.6Mt @ 0.7 g/t Au for 102Koz (~29% Indicated Category). The Project includes significant infrastructure such as open pit mines, heap leach pad, and a fully operational gold extraction plant. Pacgold is targeting near-term cash flow through the retreatment and re-crushing of existing heap leach material, involving minimal future expansion capital requirements. The acquisition also unlocks significant near-mine resource development and exploration potential. The total consideration for the acquisition comprises a $1.2 million cash payment, the issue of 15 million shares subject to a 12-month voluntary escrow period, and a contingent payment of $2.2 million upon achieving commercial production of at least 5,000oz of gold. Pacgold has implemented a three-phase approach to recommence operations at White Dam, focusing on the immediate extraction of remaining gold from the heap leach pad, followed by near-mine exploration and expansion, and then advancing regional exploration targets to add mine life and resources.

Pacgold is targeting near-term cash flow through the retreatment and re-crushing of existing heap leach material at the White Dam Gold Operation, with minimal future expansion capital requirements. The acquisition also unlocks significant near-mine resource development and exploration potential.