HRZ.ASX: Gold Ore Reserve Update

Gold Ore Reserve Update

Stock	Horizon Minerals Ltd (HRZ.ASX)
Release Time	17 Feb 2026, 12:52 p.m.
Price Sensitive	Yes

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Gold Ore Reserve Update for Horizon Minerals

Key Points

Gold Ore Reserve Estimate of 4.3 million Tonnes at 1.54 g/t for 214 koz
160% increase in contained gold to the FY2025 Ore Reserve
Positive economic results from Boorara, Crake and Kalpini Pre-Feasibility Studies

Full Summary

Horizon Minerals Ltd has announced an updated gold Ore Reserve Estimate of 4.3 million Tonnes at 1.54 g/t for 214 koz, a 160% increase in contained gold compared to the FY2025 Ore Reserve. The Boorara, Crake and Kalpini Pre-Feasibility Studies have generated positive economic results, with the Boorara Re-Optimisation and the Maiden Ore Reserves for Crake and Kalpini all optimised at a A$4,500 Gold Price. All future ore processing will be through the Black Swan Project Processing Hub. Additional Resource conversions from the broader project pipeline are anticipated over the next 12 months.

Guidance

The company has an aspirational target of 100,000 ounces of gold production per annum, but does not yet have reasonable grounds to believe this vision can be achieved.