CLZ.ASX: Classic Issues Notice of Decision to Commence Mining

Classic Issues Notice of Decision to Commence Mining

Stock	Classic Minerals Ltd (CLZ.ASX)
Release Time	27 May 2026, 12:19 p.m.
Price Sensitive	Yes

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Classic Minerals Announces Decision to Mine Gold Deposits

Key Points

Notice of Decision to Mine issued for Lady Ada and Lady Magdalene deposits
HPH can join as joint venture partner or convert interest to 2% NSR
Legal dispute pending in Supreme Court of Western Australia
Reflects management's confidence in Forrestania assets

Full Summary

Classic Minerals Limited (ASX: CLZ) has formally issued a Notice of Decision to Commence Mining for the Lady Ada and Lady Magdalene gold deposits located within Mining Lease M77/1310. This decision allows Hyden Project Holdings Pty Ltd (HPH) to choose between participating in the mining operation as a joint venture partner or converting their 20% gold rights interest into a 2% Net Smelter Royalty (NSR) on production from ML77/1310. The decision comes amidst a legal dispute in the Supreme Court of Western Australia over the tenements, which was not resolved via a summary judgment and will proceed to a full trial. Classic's Executive Chairman, John Lester, highlighted this as a significant operational milestone and expressed confidence in the long-term potential of the Forrestania assets.