• Acquisition of Magnetic's 2.2Moz Lady Julie Gold Project to expand Genesis' Laverton footprint and resources
• Leveraging Genesis' existing infrastructure, expertise and strong balance sheet to accelerate and de-risk Lady Julie's development
• Attractive premium and flexible consideration structure for Magnetic shareholders

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 Magnetic via a Scheme of Arrangement. Magnetic's flagship Lady Julie Gold Project, with a 2.2Moz Mineral Resource, is located adjacent to Genesis' Laverton operations, offering significant synergies and the opportunity to integrate into a larger open pit operation. The acquisition will expand Genesis' Laverton Mineral Resources by 40% to ~8.4Moz, bolstering the mine life and production outlook. Magnetic shareholders will receive A$1.40 cash and 0.0873 new Genesis shares per share, implying a value of A$2.00 per Magnetic share and 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 transaction leverages Genesis' existing infrastructure, technical expertise and strong balance sheet to accelerate and de-risk the development of Lady Julie, while providing Magnetic shareholders with ongoing exposure to the project's value upside through the scrip component. The acquisition is expected to support Genesis' growth strategy to increase production to 500,000 ounces per annum.

Genesis expects FY2026 production from its Leonora and Laverton operations to be ~275,000 ounces (mid-point), with a 10+ year mine life backed by existing Ore Reserves.