• On track to meet FY26 production guidance with 306,542 ounces produced YTD as of May 31
• Capital expenditure elevated due to non-recurring investments to strengthen long-term competitiveness
• Three-year outlook shows production growth and significantly decreasing capital expenditure

Vault Minerals Limited (ASX: VAU) provides a corporate update, emphasizing its progress towards FY26 production guidance with 306,542 ounces produced YTD as of May 31. The company is on track with its three-year outlook, which includes a 18% production increase by FY28. Elevated capital expenditure is due to non-recurring investments aimed at strengthening long-term competitiveness. The company is progressing ahead of schedule with the KoTH plant upgrade, set to increase throughput to 7.5-8.0 Mtpa. The outlook anticipates significant reductions in capital expenditure in FY27 and FY28, with potential for organic growth through exploration and development of brownfield options.

FY26 production: 332,000 - 360,000 ounces; FY26 AISC: A$2,650/oz - A$2,850/oz; FY27 production: 360,000 - 390,000 ounces

Vault Minerals expects a 18% production increase by FY28, driven by growing production from the Leonora district. Capital expenditure is expected to decrease significantly in FY27 and further in FY28. The company is positioned to leverage full gold price exposure with minimal hedged positions.