CTPJV SELECTS MACMAHON AS PREFERRED CONTRACTOR

• Tanami Gold and MGX Resources form Central Tanami Project Joint Venture
• Macmahon Underground Pty Ltd selected as preferred mining contractor
• Scope includes portal and vent establishment, 3,500m of exploration decline development

Tanami Gold NL (ASX: TAM) has announced that the Central Tanami Project Joint Venture (CTPJV), in which Tanami Gold holds a 50% interest along with MGX Resources Limited, has selected Macmahon Underground Pty Ltd, a subsidiary of Macmahon Holdings Limited (ASX:MAH), as the preferred mining contractor for the construction of an underground exploration decline at the Groundrush Gold Deposit in the Tanami region of the Northern Territory. Macmahon's scope of work will include portal and vent establishment, as well as approximately 3,500 metres of exploration decline development. Activities are expected to commence in the September 2026 quarter and extend for a 14-month period, with the work valued at approximately $38 million. Underground drilling activities will commence towards the end of this period. The appointment of Macmahon remains subject to the finalisation and execution of a binding agreement.