Black Cat Acquires Strategic Tenements Near Lakewood

• Potential extension of current tailings storage capacity to >20 years
• Provides upgrade optionality for higher throughput and ongoing operational growth
• Significant step in capacity expansion to 1.5mtpa at Lakewood

Black Cat Syndicate Limited (ASX: BC8) ('Black Cat' or 'the Company') has acquired 90km2 of tenements adjacent to the 1.2mtpa Lakewood processing facility ('Lakewood'), part of the Kal East Gold Operation ('Kal East'). This ground is expected to be used for additional tailings storage facilities ('TSF') to extend the processing operations for decades. Key benefits from the acquisition include a potential extension of current tailings storage capacity to >20 years, providing upgrade optionality to facilitate higher throughput and ongoing operational growth, and a significant step in capacity expansion to 1.5mtpa at Lakewood. An engineering expansion study is ongoing with results expected during the March 2026 quarter. The acquisition also provides potential for new water sources for the expanded production. Black Cat took control of Lakewood on 31 March 2025 and has since made a number of improvements, including commissioning of the newly installed TSF and the installation of a new gravity circuit.

The acquisition is expected to provide even longer-term TSF capacity and potential additional water sources. The ~1.5mtpa expansion study at Lakewood is well underway with outcomes expected in the March 2026 quarter, which will facilitate ongoing production growth from Kal East as part of Black Cat's 'More Gold Sooner' strategy.