• Robust 1.59Moz Maiden Ore Reserve underpins 14-year, 1.77Moz Production Target
• PFS outlines long-life, scalable 10Mtpa heap leach operation with compelling returns
• Project generates over A$2.5 billion in EBITDA with 51% IRR and A$973M NPV8%

Saturn Metals Limited has completed a Pre-Feasibility Study (PFS) for the development of its 100%-owned Apollo Hill Gold Project located in Western Australia. The PFS outlines a long-life, standalone and scalable bulk gold mining and heap leach processing operation over an initial 14-year life with compelling returns. The PFS is underpinned by a robust 1.59Moz Maiden Ore Reserve, representing an 86% conversion of eligible Indicated and Measured Mineral Resource ounces. The PFS has produced a mining Production Target of 117.4Mt grading 0.47g/t Au containing 1.77Moz of gold, based on 89% Proven and Probable Ore Reserves and 11% Inferred Mineral Resources. The PFS Base Case using a A$4,300/oz gold price generates over A$2.5 billion in EBITDA, a Net Present Value8% of A$973 million, and an Internal Rate of Return of 51%, with rapid payback within 2.3 years. The Project is expected to achieve steady state gold production of 106koz per annum from a 10Mtpa heap leach processing facility over a 12-year production schedule. At the current gold price of around A$6,200/oz, the Project would generate even stronger financial outcomes.

The PFS outlines a Production Target of 1.77Moz of gold over a 14-year Life-of-Mine, with steady state gold production of 106koz per annum from a 10Mtpa heap leach processing facility over a 12-year production schedule.

The positive PFS results and strong balance sheet allow Saturn to move directly into a Definitive Feasibility Study, targeted for completion in Q4 2026. The Company also intends to maintain exploration momentum, with drilling to continue along the high-grade Iris Trend and infill drilling within the Apollo Hill Mineral Resource to convert additional Inferred Resources to the higher confidence Indicated category.