High-Grade Gold & Silver Results Continue at Mount Mackenzie

• Maiden drilling program at Mount Mackenzie returns high-grade gold and silver intercepts
• Drilling confirms multiple stacked mineralised zones with strong continuity
• Deeper, continuous zone of gold-silver mineralisation identified below known deposits

QMines Limited is pleased to report additional Reverse Circulation (RC) drilling results from its ongoing maiden drilling program at the Mount Mackenzie gold-silver project in Central Queensland. Assays have now been received for a further 12 RC holes completed at the North Knoll deposit. Results confirm both grade continuity and the presence of multiple high-grade shoots within broader mineralised envelopes, consistent with the existing geological model. Additionally, holes MMRC007 and MMRC008 have intersected a deeper, continuous zone of gold-silver mineralisation that was previously only sparsely tested by historical drilling. These results demonstrate that mineralisation persists below the known deposits and highlight the potential for depth extensions within the North Knoll system. Gold-silver mineralisation remains shallow, laterally continuous, and strongly associated with zones of advanced argillic alteration and pervasive silicification. Several holes intersected multiple mineralised intervals, highlighting the stacked nature of the system. The program was designed to confirm historical mineralisation, improve geological confidence in the existing geological model underpinning the Mineral Resource Estimate, and support future mine design and optimisation studies.

The company is advancing several parallel workstreams as it progresses toward delivery of an updated Pre-Feasibility Study (PFS) in H2-2026. These activities are focused on increasing project definition, extending mine life, and optimising the economics of the Company's planned centralised processing plant at Mount Chalmers.