• Completed acquisition of Challenger Gold Mine, consolidating 100% ownership
• Successful $2.5 million capital raising to support development and exploration
• Commenced commissioning and initial production at Challenger Gold Mine

Great Divide Mining Ltd has reported a transformational quarter, marked by the completion of the acquisition of the Challenger Gold Mine, consolidating 100% ownership and operatorship of the Company's flagship asset. The successful completion of a $2.5 million capital raising has strengthened the Company's balance sheet, enabling it to maintain momentum at the Challenger Gold Mine as it moves toward first commercial gold concentrate sales. At Challenger, the identification of mullock as an initial processing feed provides a practical, capital-efficient pathway to commissioning, allowing the Company to commence operations with minimal development risk while optimising plant performance. Across the broader portfolio, the Company remains focused on disciplined capital allocation, progressing key projects toward defined milestones including mining lease applications, resource definition and drill-ready targets. Great Divide Mining is well positioned to deliver on its objective of generating near-term cash flow while building long-term shareholder value.

Great Divide Mining is targeting initial cash flow from operations during Q4 FY26, supported by commissioning activities and early processing initiatives at the Challenger Gold Mine.