• NSECC has approved amendments to the Industrial Approval permit conditions for the Touquoy Restart
• Touquoy Restart is anticipated to recommence ore processing by the end of calendar year 2026
• Operating cash flow from the Touquoy Restart is anticipated to be C$118 million at US$4,000 per ounce over a 13 month period

St Barbara Limited (ASX: SBM) has announced that the Nova Scotia Department of Environment and Climate Change (NSECC) has approved amendments to the Industrial Approval permit conditions for the Touquoy Restart. The approved conditions are in line with the submission made by the company on 10 February 2026. The company anticipates that Touquoy will recommence ore processing by the end of calendar year 2026. In early February, the St Barbara Board approved C$2.9 million of the total C$11.4 million of estimated capital for early commitments to longer lead time items to accelerate the refurbishment works required for the restart of the Touquoy processing facility. The company is in a position to rapidly re-establish production from the Touquoy Operations, with key management and technical personnel retained since the cessation of operations in October 2023. St Barbara also notes the announcement of a Co-operation Agreement between Nova Scotia and Canada to create a 'one project, one review' process to accelerate environmental and impact assessments. The company expects the Touquoy Restart to generate operating cash flow of C$118 million at US$4,000 per ounce over a 13 month period, with gold production of 38 koz from 3.0 Mt of stockpiles grading 0.4 g/t, initial capital of approximately C$11.4 million (A$12.4 million), and an all-in sustaining cost average estimate of A$2,458 per ounce (US$1,598 per ounce).

Gold production of 38 koz over a 13 month period from 3.0 Mt of stockpiles grading 0.4 g/t, with operating cash flow of C$118 million at US$4,000 per ounce, initial capital of approximately C$11.4 million (A$12.4 million), and an all-in sustaining cost average estimate of A$2,458 per ounce (US$1,598 per ounce).

The Touquoy Restart is anticipated to recommence ore processing by the end of calendar year 2026, with the company in a position to rapidly re-establish production from the Touquoy Operations.