• Commencing Pre-Feasibility Study to advance Que River mining restart strategy
• Focus on potential extraction of 660kt of gold, copper, silver, zinc and lead from existing open pits
• Evaluating longer-term data infrastructure opportunities at the site

Greenwing Resources Ltd (ASX: GW1) is pleased to announce that it is commencing a Pre-Feasibility Study (PFS) at its 100%-owned Que River polymetallic project in Tasmania. The PFS is intended to build on the previously announced scoping study and provide greater definition around the scale, economics, development pathway and approvals framework for the project. The immediate focus at Que River remains the proposed redevelopment of the PQ Pit open pit opportunity and the potential mining of its contained gold, silver, copper and zinc. The previously tabled scoping study work highlighted a potential low-capex pathway to cash generation through open pit mining of an estimated 660,000 tonnes and the use of third-party processing. Subsequent updated metals price analysis further strengthened the economic picture, with increases in copper, gold and silver prices contributing to materially improved project-level outcomes. The PFS is expected to further define matters relevant to potential development, including mine design, processing, costs, environmental considerations, approvals and economic outcomes. In parallel, Greenwing will continue progressing key deliverables such as the Decommissioning and Rehabilitation Plan and stakeholder engagement. The second stage of the company's strategy is the assessment of the site's suitability to host data infrastructure at Que River, leveraging the project's existing infrastructure, strategic location and favourable site characteristics.

Greenwing is progressing a two-stage strategy for Que River, initially focused on the potential mining of an estimated 660kt of gold, copper, silver, lead and zinc-rich material from within the existing open pits, followed by a longer-term opportunity to host data infrastructure, supported by the project's unique infrastructure, location and strategic site characteristics.