• Dual rigs commence diamond drilling program at Tunkillia Gold Project
• Targeting Ore Reserves, PFS, and Mining Lease application by end of 2026
• Recent 'Phase 1' RC drilling confirmed high-grade mineralization

Barton Gold Holdings Limited (ASX:BGD) has announced the start of diamond drilling (DD) at its Tunkillia Gold Project in South Australia. Foraco Drilling has been engaged to complete a total ~3,000m DD program, with two rigs now operating on-site. The drilling is targeting the infill and expansion of Tunkillia's geotechnical and metallurgical databases to support JORC (2012) Mineral Resource Estimate (MRE) upgrades, open pit design optimization, and detailed recovery and production modelling. These will underpin a Pre-Feasibility Study (PFS) and Mining Lease (ML) application targeted for the end of 2026. The 'Phase 1' RC drilling program of ~18,900m has already infilled the S1 and S2 pit areas with broad, high-grade intersections, targeting conversion of these areas to JORC 'Measured' and 'Indicated' categories. The 'Phase 2' RC drilling of a further ~30,000m will target conversion of the rest of Tunkillia's modeled open pit mineralization to 'Indicated' category. The Tunkillia Optimised Scoping Study in May 2025 outlined a compelling development profile, with the S1 and S2 pits modeled to produce 365,000oz gold, 923,000oz silver, and A$1.3 billion operating free cash in the first ~27 months at an average cash cost of only A$1,429/oz Au. Barton is now expediting Tunkillia's development on an accelerated timeline, targeting declared JORC Ore Reserves, a robust PFS, and a Mining Lease application by the end of 2026.

At current gold and silver prices, Tunkillia is modeled to produce over A$1 billion operating profit in the first year, and over A$2 billion operating profit in the first two years.

Barton is executing the balance of Tunkillia development drilling programs on an expedited timeline, targeting declared JORC Ore Reserves, a robust PFS, and a Mining Lease application by the end of 2026. Following the submission of the Mining Lease application, Barton will expedite Tunkillia's project finance discussions and work with stakeholders to bring the project online as soon as possible.