• A$40-50m FY26 exploration budget continues to deliver outstanding results
• Drilling uncovers extensive high-grade mineralisation in the 'forgotten' upper levels of Gwalia mine
• Potential for lower-cost feed from Gwalia 'Uppers' and other satellite deposits around Leonora

Genesis Minerals Ltd's exploration program at its Leonora operations has delivered outstanding results, with a focus on the Gwalia underground mine, the Ulysses underground mine, and the Admiral open pit mine. The A$40-50m FY26 exploration budget has uncovered extensive high-grade mineralisation, particularly in the 'forgotten' upper levels of the Gwalia mine, known as the 'Uppers'. Drilling in the Uppers has returned significant intercepts, including 27.6m @ 17.6g/t, 8.3m @ 43.2g/t, and 36.2m @ 7.7g/t, indicating the potential for lower-cost feed from this area. The high-grade pedigree of the Gwalia 'Heart of Gold' has also been confirmed, with results such as 6.6m @ 35.5g/t and 13.4m @ 9.2g/t. At the Ulysses underground mine, recent drilling has pointed to higher-grade production in the near-term, with results including 19m @ 9.6g/t and 9m @ 12.1g/t. Drilling at the Admiral open pit mine has also delivered significant results, improving confidence in the orientation and tenure of mineralisation. The exploration success across multiple deposits highlights the potential for strong organic growth that leverages existing infrastructure. A separate Laverton drill update is anticipated in mid-2026, and a meaningful increase in the FY27 exploration budget is anticipated as part of the updated long-term plan set for the September quarter of 2026.

A meaningful increase in the FY27 exploration budget is anticipated (part of updated long-term plan set for September quarter 2026) following current drill success and outstanding cash generation from operations.