• Native Vegetation Clearing Permit for Lady Herial approved
• Satisfies final regulatory condition for Ore Purchase Agreement with major shareholder
• Mine schedule to be agreed is last condition precedent remaining

Lunnon Metals Limited (ASX: LM8) is pleased to report that it has received the final regulatory approval from the Department of Mines, Petroleum and Exploration relating to the proposed Lady Herial open pit development, the Company's first gold discovery at its Kambalda Gold & Nickel Project (KGNP). The Native Vegetation Clearing Permit takes effect from today, 8 January 2026. Lady Herial is an outcropping to very shallow, high-grade and thick gold deposit, hosted on granted mining leases with an abundance of infrastructure nearby. Just 20 months have elapsed from first drillhole (in May 2024) to final regulatory approval. The Company is in the process of agreeing the final mine schedule with St Ives Gold Mining Co. Pty Ltd, the last remaining condition precedent to the Ore Purchase Agreement (OPA). The mine schedule will allow the Feasibility Study to be finalised and reported. Upon the OPA becoming unconditional, and based on the results of the Feasibility Study, the Board will be able to make a Final Investment Decision, enabling the mining contracts to be executed and clearing to commence. Once mining commences, SIGM will purchase all material >0.5g/t Au for treatment at its nearby Lefroy Gold Plant. Lunnon Metals will receive 70% of any subsequent free-cash flow generated once both parties' costs have been recovered.