• Ground support upgrades to enable re-entry to Xantho Extended decline and production levels expected to be completed in April 2026
• Additional works to further reduce risk of future potential production interruptions being progressed
• Potential to accelerate recommencement of mining in the upper areas of Xantho Extended under review

29Metals Limited (ASX: 29M) today provided an update on progress to reestablish mining at the Xantho Extended orebody at the Golden Grove operation in Western Australia. Ground support upgrades to enable re-entry to the Xantho Extended decline and production levels are expected to be completed during April 2026 as planned. In parallel, ongoing geotechnical review has provided an increased understanding of the Xantho Extended decline and level access areas impacted by seismicity. Based on this new assessment, additional works to further reduce the risk of future potential production interruptions are being progressed prior to recommencement of mining. These additional works include alternate level access development to mitigate interactions with higher stress zones of the existing decline, which are expected to be completed during the Dec-Qtr-2026. The company is also reviewing the potential to accelerate recommencement of mining in the upper areas of Xantho Extended whilst the additional works are completed. Alternate ore sources will be mined and milled whilst the additional works are completed at Xantho Extended, with no change to full year copper production guidance. However, full year production outcomes for zinc, gold and silver are now expected to be lower than previously guided.

Full year copper production guidance unchanged. Full year production outcomes for zinc, gold and silver now expected to be 5kt to 25kt (previously 40kt to 50kt), 6koz to 14koz (previously 12koz to 20koz) and 400koz to 600koz (previously 600koz to 800koz), respectively. Selling costs guidance lowered to $20 million to $45 million (previously $50 million to $70 million).