• Continued advancement across five-project portfolio
• Resolution of Challenger joint venture dispute
• Progression of Yellow Jack Joint Venture
• High-grade antimony results at Coonambula
• Ongoing capital discipline and balance sheet management

Great Divide Mining continued to execute its strategy of advancing brownfields assets through disciplined exploration, strategic partnerships, and capital-efficient development pathways. The resolution of the Challenger joint venture dispute and the move to 100% ownership of the Adelong Venture represents a significant milestone, removing legacy uncertainty and providing GDM with full strategic and operational control over the Challenger Gold Mine. At Coonambula, the joint venture partner Dart Mining delivered strong technical results, confirming the presence of exceptionally high-grade antimony and gold mineralisation at the historic Banshee Antimony Mine. The Yellow Jack joint venture with Native Mineral Resources further complements GDM's strategy, providing a clear, capital-light pathway to advance a second mining operation. Across the broader portfolio, work programs were prioritized to preserve capital, advance permitting and technical studies, and ensure projects are positioned to move efficiently as market conditions and operational readiness allow. GDM remains well positioned to benefit from sustained demand for gold and critical minerals, particularly antimony.

GDM intends to restructure the Challenger development plan to suit a sole-funded, staged restart strategy. Near-term activities will focus on low-capital optimisation initiatives, including processing plant modifications, assessment of surface and mullock material for initial feedstock, and technical studies to support potential small-scale open pit and underground mining options. At Coonambula, the company plans to continue diamond drilling across the Banshee trend and complete interpretation of IP survey data to refine drill targeting. At the Yellow Jack Gold Project, GDM will complete joint technical and financial due diligence with NMR, progress mining and environmental studies, and advance the Yellow Jack Mining Lease application.