• Project NPV8 of A$805 million and IRR of 1,092% based on US$95/oz silver, US$4,800/oz gold prices
• 10-Year Mine Plan to produce 13.2 million ounces of silver and 35 thousand ounces of gold
• Existing Wonawinta Processing Plant set to return to production in H1 2026

Manuka Resources Limited (ASX: MKR) is pleased to announce the updated 10-Year Mine Plan for the Wonawinta Silver and Mt Boppy Gold Mines, located within the Cobar Basin mining province of New South Wales. The Production Plan outlines the upgrading and recommissioning of the existing 1Mtpa Wonawinta processing plant to enhance throughput and leach performance, delivering a Production Target that comprises 10.4Mt of silver ore from stockpiles and open pits, and 0.5Mt of gold ore from Mt Boppy stockpiles and open pit. Over the 10-Year Mine Plan, the Project is forecast to generate an average EBITDA of A$127 million p.a. at a C1 cost of A$34.4/oz silver (including gold credits), resulting in an NPV8 of A$805 million and an IRR of 1,092%. The Company has raised A$15 million and is finalizing a US$22.5 million debt facility to fund the modest A$26.6 million in pre-production capital costs, ensuring Manuka is fully funded to production and profitability. The Wonawinta plant is a highly strategic asset located within trucking distance of multiple high-grade deposits in the Cobar Basin, providing the Company with significant commercial optionality.

The Mine Plan is forecast to generate an average EBITDA of A$127 million per annum at an average C1 cost of A$34.4/oz silver (including gold credits) over the 10-year period.