• $15 million strategic investment from QIC Critical Minerals and Battery Technology Fund to accelerate QMines' Mt Chalmers copper and gold project
• Attractive funding terms with $5 million in equity and $10 million for a 2% NSR royalty
• Royalty structure significantly reduces dilution for existing shareholders

QMines Limited (ASX:QML) has announced a $15 million strategic investment from QIC Critical Minerals and Battery Technology Fund (QCMBTF) to accelerate the development of the Mt Chalmers copper and gold project in central Queensland. The investment comprises $5 million in equity and a further $10 million for a 2% net smelter return (NSR) royalty. The funding package is expected to fully fund QMines through the completion of the Definitive Feasibility Study (DFS) and into the Final Investment Decision (FID) stage, significantly reducing near-term funding risk. The transaction structure, which combines the equity and royalty components, allows QMines to access substantial capital while minimizing dilution for existing shareholders. QCMBTF will become QMines' largest shareholder, providing strong institutional backing and strategic support as the project moves towards production. The investment follows a comprehensive due diligence process by QCMBTF, validating the quality of the Mt Chalmers project and its long-term development potential. The funding will be used to advance the DFS, environmental approvals, permitting, and early-stage development activities at Mt Chalmers.

The investment by QCMBTF is expected to fully fund QMines through DFS completion and into FID, materially reducing funding risk at a critical stage of development. The partnership with QCMBTF positions QMines strongly as it transitions toward becoming a copper and gold producer and advances its broader strategy of establishing a regional processing hub in Central Queensland.