• Liontown shallow gold Resource increased by 14% to 108Koz
• Sybil drilling returned outstanding shallow, high-grade epithermal gold results
• VTEM Max survey defined seven high-priority VMS conductors across Coronation-Highway

Sunshine Metals' quarterly report covers key developments across its Ravenswood Consolidated Project and Sybil prospect in North Queensland. The company completed 29 reverse circulation (RC) drill holes at Liontown, resulting in a 14% increase in the shallow gold Mineral Resource to 108koz Au. The updated Resource reflects improved confidence in the continuity and geometry of shallow mineralisation. The Mining Study will now consider 0.8Mt @ 4.3g/t Au for 108Koz Au and 31.6g/t Ag for 803Koz Ag. Sunshine also received impressive gold and silver results from grade control drilling at Liontown, including 4m @ 17.65g/t Au & 402g/t Ag. At the Sybil prospect, a 14-hole diamond drilling program returned significant gold mineralization in 12 out of 14 holes, with highlights of 4.4m @ 57.51g/t Au and 4.5m @ 17.23g/t Au. The company also identified seven high-priority VMS conductors across the Coronation-Highway area from a VTEM Max survey. Sunshine ended the quarter with a cash balance of ~$4.6M and is well-positioned to advance its key projects.

Sunshine Metals has a busy period ahead, including the completion of the Mining Study at Liontown, reporting of Liontown grade control drilling results, and the commencement of a magnetic survey at Sybil in Q1 2026.