• Liontown Mining Study delivers robust results including initial production target of ~75Koz @ 2.96 g/t Au, and 654Koz Ag @ 25.73g/t Ag
• Drilling results return up to 1m @ 136.00g/t Au & 9,960g/t Ag
• Resource definition drilling completed at Liontown Gold Panel

Sunshine Metals Limited has reported its quarterly activities for the period ended 31 March 2026. The key highlights include the delivery of a scoping-level Mining Study for the Liontown Project, which demonstrates a robust economic case with an initial production target of ~75Koz @ 2.96 g/t Au and 654Koz Ag @ 25.73g/t Ag. The study generated estimated net operating cashflow of ~$163M based on gold and silver prices of A$6,500/oz and A$100/oz, respectively. The company also reported exceptional drilling results from the Liontown deposit, including 1m @ 136.00g/t Au & 9,960g/t Ag within a broader zone of 30m @ 6.68g/t Au & 528g/t Ag. Additionally, Sunshine Metals completed a resource definition drilling program at the Liontown Gold Panel to improve resource confidence. The company was also awarded a $202,235 grant from the Queensland Government's Collaborative Exploration Initiative to fund a drilling program at the Trooper Creek Au-Cu-Zn prospect.