• Production of 22,071 ounces of gold at AISC of $2,571 per ounce
• Cash and gold balance increased by $35.0 million during the quarter
• Exploration and major project capital expenditure of $32.1 million

Pantoro Ltd, a Western Australian gold producer focused on the Norseman Gold Project, has reported its quarterly activities and cash flow for the period ended 31 December 2025. The company produced 22,071 ounces of gold, sold 22,473 ounces at an average price of $6,077 per ounce, and achieved an AISC of $2,571 per ounce. Pantoro's cash and gold balance increased by $35.0 million during the quarter, while the company invested $14.5 million in exploration and an additional $17.7 million in major project capital, for a total spend of $32.1 million. The Scotia Underground Mine progressed well, with 2,018 metres of development completed and 102,291 tonnes @ 3.00 g/t Au produced. The OK Underground Mine produced 51,103 tonnes @ 4.31 g/t Au for 7,081 ounces. Open pit mining at the Princess Royal Mining Centre continued, with the Desirables Open Pit completed and the Slippers Open Pit expected to be completed in January 2026. Exploration activities in the Mainfield continued to advance, with high-grade results reported from the Crown South Reef and adjacent Obrien's Reef. Pantoro also reported strong infill and extensional drilling results from the Daisy South deposit, including the identification of a potential new mineralised lode. The company closed the quarter with $216.5 million in cash and gold.

Pantoro Gold expects production to be at the lower end of the previously provided production guidance of 100,000 - 110,000 ounces of gold for FY2026.