RC1.ASX: Continuous Mining Operations Underway at Redcastle Reef

Continuous Mining Operations Underway at Redcastle Reef

Stock	Redcastle Resources Ltd (RC1.ASX)
Release Time	27 May 2026, 8:48 a.m.
Price Sensitive	Yes

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Redcastle Resources Commences Mining at Redcastle Reef

Key Points

Continuous mining operations have started at Redcastle Reef
Ore material is being mined and stockpiled on site
Initial haulage expected in June 2026, first toll treatment in July 2026

Full Summary

Redcastle Resources Ltd has commenced mining operations at the Redcastle Reef gold deposit in Western Australia. This development represents a significant milestone for the company, transitioning it from a pure explorer to a dual-track mining and exploration company. Mining is being conducted through the Redcastle-BML Ventures Joint Venture, with BML Ventures funding all mining and working capital requirements until first revenues. Initial activities focus on near-surface oxide mining, with ore material being stockpiled on site. Initial haulage is expected in June 2026, and first toll treatment is targeted for July 2026. The capital-light joint venture structure minimizes upfront funding requirements for Redcastle, allowing it to maintain exploration momentum across its expanding portfolio.