• Completed Early Works, received final regulatory approvals, and executed A$236M debt facility
• Commenced Bulk Earthworks, Mine Camp refurbishment, and EPC contract negotiations
• On track for Sorby Hills Silver-Lead-Zinc Project production in H2 2027

Boab Metals Ltd has provided an update on its activities for the quarter ended 31 March 2026. Key highlights include the completion of Early Works at the Sorby Hills Silver-Lead-Zinc Project, receipt of final regulatory approvals, and the execution of a A$236 million equivalent debt facility to fund project development. The company has also commenced Bulk Earthworks, Mine Camp refurbishment, and is progressing EPC contract negotiations, with the project remaining on track for production in the second half of 2027. During the quarter, Boab completed site access and foundation works, received Works Approval and Mining Development and Closure Proposal approvals, and executed a long-term diesel supply contract. The company is advancing detailed engineering, procurement, and workforce planning as it nears finalisation of the EPC contract. Boab also completed the acquisition of the remaining 25% interest in Sorby Hills, moving to 100% ownership of the project. The company had a cash balance of A$97.8 million as of 31 March 2026.

The Sorby Hills Project remains on track to commence production in the second half of 2027.