• Acquisition of Magnetic's 2.2Moz Lady Julie Gold Project to expand Genesis' Laverton footprint
• Leverages Genesis' strong balance sheet and proven technical expertise to accelerate Lady Julie's development
• Provides Magnetic shareholders with attractive premium and ongoing exposure to value unlocked by Genesis

Genesis Minerals Limited (ASX: GMD) and Magnetic Resources NL (ASX: MAU) have entered into a binding Scheme Implementation Deed under which Genesis will acquire 100% of the issued shares in Magnetic via a Scheme of Arrangement. Magnetic's flagship Lady Julie Gold Project has a Mineral Resource of ~2.2Moz grading 1.8g/t Au, offering a clear pathway to supply incremental ore to Genesis' operating 3Mtpa Laverton mill. Lady Julie's northern boundary borders land recently acquired by Genesis, providing scope for substantial synergies and cost savings. The acquisition significantly expands Genesis' presence on Laverton's Chatterbox Trend with additional exploration upside. Genesis will fund the A$445 million cash component of the acquisition from existing cash and a corporate revolving facility. Magnetic shareholders will receive A$1.40 cash and 0.0873 new Genesis shares per Magnetic share, representing a 25-35% premium to recent trading prices. Magnetic shareholders will also have the option to elect for 100% cash or 100% Genesis shares. The acquisition is expected to deliver substantial value for Genesis shareholders by adding high-grade Mineral Resources, leveraging Genesis' technical expertise to accelerate Lady Julie's development, and providing Magnetic shareholders with immediate value and ongoing exposure to the combined entity.

Genesis expects to produce ~275,000 ounces (mid-point) in the 2026 financial year, with a 10+ year mine life backed by existing Ore Reserves.