• Mining operations have officially launched at Mt Dimer Taipan Gold Project
• Toll Treatment of ore set to begin in March 2026
• Project fully funded under a Right to Mine Agreement with MEGA Resources

Everest Metals Corporation Ltd (ASX: EMC) and partner, MEGA Resources Pty Ltd ('MEGA') have confirmed that mining operations have begun at Mt Dimer Taipan Gold Project ('Mt Dimer'), located 150 km northwest of Kalgoorlie and 120 km northeast of Southern Cross in Western Australia. This marks the culmination of efficient groundwork, including the recent resource upgrade drilling, propelling Mt Dimer into active production phase. Under the October 2025 Right to Mine Agreement (RTMA), MEGA is delivering up to A$18.6 million in non-dilutive capital to advance the project. With site preparations completed and the mining fleet fully mobilised, ore extraction is now progressing on schedule since late November 2025. Toll-treatment at a Kalgoorlie facility (200,000 tonnes per annum capacity) will follow in March 2026, creating a streamlined, fully funded pathway from initial mining, through to processing, and transition into production. The Mt Dimer Mining Lease (M77/515) has a long exploration history since 1992, with EMC acquiring the project in 2020. A Maiden Inferred Mineral Resource Estimate (JORC Code 2012) for the Mt Dimer-Taipan Gold and Silver Project - 722kt @ 2.10g/t Au for 48,545 ounces of gold and 3.84g/t Ag for 89,011 ounces of silver - was reported in 2021.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics or other company-specific metrics in the announcement.

The company has not provided any forward-looking outlook statements in the announcement.