• Dispute with ADG over 51% interest in Challenger Mines resolved
• GDM to acquire full ownership of Challenger Mines through share purchase agreement
• New right of first offer included for ADG's consideration shares

Great Divide Mining Ltd (GDM) has announced that it has resolved the ongoing dispute with Adelong Gold Limited (ADG) relating to GDM's 51% interest in Challenger Mines Pty Ltd (CMPL) and the incorporated CMPL joint venture. The terms of the previously disclosed 'Deed of Termination, Settlement and Release' and 'Share Sale and Purchase Agreement' (Binding Documents) remain largely unchanged, with a few key modifications. The ability for GDM to direct a buy-back of the consideration shares issued to ADG has been removed, and instead a right of first offer has been included. This means that if ADG proposes to sell or transfer any consideration shares during the 18 months after completion, they must first offer them to GDM at either the off-market sale price or the 5-day volume weighted average price. Additionally, a new provision has been added to the Deed of Termination, Settlement and Release relating to tax indemnities from ADG, documenting terms for cooperation between the two companies in the event of a tax claim. The Voluntary Escrow Deed and Minerals Royalty Deed, both referenced in the previous announcement, have now also been signed. The timetable for completion of the transactions detailed in the Binding Documents is anticipated to be in late January or early February 2026, following a general meeting of GDM shareholders to approve the issue of consideration shares.