• Executed US$50 million loan facility with Trafigura
• Agreed and executed offtake agreement for copper-gold concentrate
• Board approved Final Investment Decision for Ravensthorpe Gold Project

Medallion Metals Limited (ASX: MM8) has executed documentation with Trafigura Pte Ltd for the provision of a US$50 million loan facility, the proceeds of which will be applied to the development of the Ravensthorpe Gold Project (RGP) with processing at Forrestania. The company has also agreed and executed a commercial contract for the sale and purchase of copper-gold concentrate to be produced from the Project. With the Loan Facility and Offtake Agreement finalized, the Board has approved a positive Final Investment Decision (FID) for the Project, effective immediately. Development activities will commence following confirmation that all conditions precedent to the completion of the Forrestania acquisition have been waived or satisfied. The availability of funds under the Loan Facility is subject to satisfaction of customary conditions precedent, including completion of the Forrestania acquisition, which is expected to occur on or before 27 February 2026.

The US$50 million loan facility from Trafigura is expected to be drawn during the second half of 2026.

Medallion Metals is focused on disciplined execution, advancing the Ravensthorpe Gold Project toward production while continuing technical work across the Forrestania tenure to unlock broader growth optionality.