• Maiden multi-rig drilling program at Mount Mackenzie confirms high-grade gold and silver mineralisation
• Significant intercepts include 6m @ 8.11 g/t Au & >100 g/t Ag, 44m @ 1.00 g/t Au & 20.8 g/t Ag, and 13m @ 2.21 g/t Au & 17.22 g/t Ag
• Drilling continues with additional rigs to support resource growth and future mine planning

QMines Limited has reported maiden reverse circulation (RC) drilling results from the Mount Mackenzie gold-silver project in Central Queensland. The initial 19-hole, 2,240m drilling program has confirmed high-grade gold and silver mineralisation consistent with a high-sulphidation epithermal model. Significant intercepts include 6m @ 8.11 g/t Au and >100 g/t Ag within 11m @ 4.63 g/t Au and 59.8 g/t Ag, 44m @ 1.00 g/t Au and 20.8 g/t Ag, and 13m @ 2.21 g/t Au and 17.22 g/t Ag. The drilling has been designed to improve geological confidence in the existing Mineral Resource Estimate and support future mine design and optimisation studies. An additional diamond drill rig has been contracted, bringing the total to three active rigs, with drilling continuing unabated through the Christmas/New Year period. The results strongly validate the quality of the existing resource and highlight the significant growth potential of the Mount Mackenzie system, which remains open at depth and along strike. The project is strategically positioned within QMines' broader central Queensland hub strategy, providing high-quality feed optionality for the planned Mt Chalmers processing facility.

No high-importance, price-sensitive forward-looking financial metrics provided.

QMines is advancing several parallel workstreams as it progresses toward delivery of an updated Pre-Feasibility Study (PFS) in H2-2026, focused on increasing project definition, extending mine life, and optimising the economics of the planned centralised processing plant at Mount Chalmers. This includes completing an updated Mineral Resource Estimate, pit optimisation, and mine design and planning for the Sulphide City deposit at Develin Creek, as well as similar activities for the Mount Mackenzie project. Metallurgical testwork and an integrated development study are also underway.