• Significant high-grade intersections beneath the historical McMahon's open pit
• Located on granted Mining Lease adjacent to the former Flying Fox underground mine
• 14km via private haul road to the Cosmic Boy Concentrator (CBC)

Medallion Metals Limited (ASX: MM8) is pleased to report additional historical drilling results from the Lounge Lizard gold deposit, within the Forrestania Gold Project (FGP) in Western Australia. Reverse circulation (RC) drilling has now commenced at Lounge Lizard and at historical stockpiles at the Teddy Bear gold deposit, representing the first drilling undertaken by Medallion at FGP and supporting a maiden Mineral Resource Estimate (MRE) targeted for Q3 2026. The highlights include significant high-grade intersections beneath the historical McMahon's open pit at the northern extent of Lounge Lizard, such as 6.0m @ 10.04 g/t Au from 26m, 6.0m @ 3.72 g/t Au from 60m, and 5.0m @ 7.34 g/t Au from 64m. Lounge Lizard is located on a granted Mining Lease immediately adjacent to the former Flying Fox underground mine and is linked to the Cosmic Boy Concentrator (CBC) via approximately 14km of private haul road. The company has commenced systematic validation of the historical drill database to support the maiden MRE, and additional drilling programs are planned to confirm and extend historical results and progress additional mill feed opportunities.

With drilling and validation work ongoing, Medallion expects to deliver further results from Lounge Lizard in the near term, together with new information from Teddy Bear stockpiles as drilling advances.