Challenger DFS Pit Optimisation Drilling Begins

• DFS underway following Challenger JORC (2012) Mineral Resources upgrade to 313koz Au
• ~8,000m RC and ~1,490m diamond drilling programs commenced
• Targeting JORC (2012) Ore Reserves and 'Stage 1' DFS by H2 CY 2026

Barton Gold Holdings Limited (ASX:BGD) has announced the start of pit optimisation drilling at its South Australian Challenger Gold Project, adjacent to its wholly-owned Central Gawler Mill. The program includes ~8,000m of reverse circulation (RC) drilling and ~1,490m of diamond drilling (DD) to generate additional geotechnical data and metallurgical samples to support optimisation of the Challenger open pits' designs and operations. This work is targeting conversion of existing open pit mineralisation (and new near-surface targets) to JORC (2012) 'Indicated' Resources and 'Ore Reserves' as part of an ongoing Definitive Feasibility Study (DFS). The DFS is designed to target an initial 3-4 year 'Stage 1' baseline operation utilising historical higher-grade tailings and limited near-surface materials, deferring the technical risk and cost of underground operations to a future date. Reinstatement of the Central Gawler Mill also enhances the development optionality of Barton's other regional assets such as Tarcoola, Wudinna and Tolmer. Despite recent extreme rain events in the region, Barton is targeting JORC (2012) Ore Reserves and a 'Stage 1' DFS by the second half of 2026.

Following the Challenger JORC (2012) Mineral Resources upgrade to 313koz Au, Barton is targeting JORC (2012) Ore Reserves and a 'Stage 1' Definitive Feasibility Study by the second half of 2026.