• 8,065m reverse circulation (RC) drilling completed at Challenger Main, Challenger West, Challenger South-Southwest and Challenger 3
• ~1,490m diamond drilling (DD) program ongoing for pit design and metallurgical optimisation
• Targeting JORC (2012) Ore Reserves and completion of a 'Stage 1' DFS by H2 CY 2026

Barton Gold Holdings Limited (ASX:BGD) has completed 8,065m of reverse circulation (RC) drilling at its Challenger Gold Project in South Australia, adjacent to its wholly-owned Central Gawler Mill (CGM). The drilling program targeted the Challenger 'Main', 'Challenger West' (CW) open pits, plus open pit targets at 'Challenger South-Southwest' (CSSW) and 'Challenger 3'. Barton is targeting conversion of easily accessible mineralisation to JORC (2012) 'Indicated' categories and, subject to a Definitive Feasibility Study (DFS), JORC (2012) Ore Reserves. The design concept of the DFS is to target an initial 3 - 4 year 'Stage 1' 'baseline' operation utilising only historical higher-grade tailings from tailings storage facility 1 (TSF1) and limited, near-surface materials without disturbing Challenger's historical high-grade underground mine, its mineralisation or its infrastructure access. This model also has the benefit of deferring the technical risk and cost of underground operations to a future date, following the de-risking of 'Stage 1' operations, and providing further time to optimise development plans. Reinstatement of the CGM also materially enhances the development optionality of Barton's several 'regional enhancement' assets such as the Tarcoola Gold Project, the Wudinna Gold Project and high-grade Tolmer silver prospect, all of which could potentially be processed through the CGM.