• Pre-Feasibility Study completed for 5Mtpa (Stage 1) of a phased development strategy for Bullabulling Gold Project
• Maiden Ore Reserve of 2.5Moz based on 0.86 g/t Au
• Average Annual EBITDA of A$510M
• Targeting first gold production in Q4 CY2028
• 19 Years Operating Life with NPV5 of $2.3B and 43% IRR

Minerals 260 Ltd has announced the completion of a Pre-Feasibility Study (PFS) for its Bullabulling Gold Project, outlining a phased development strategy for a 5Mtpa (Stage 1) operation. The PFS is based on a maiden Ore Reserve of 2.5Moz at 0.86 g/t Au, with an average annual EBITDA of A$510M. The project is expected to have a 19-year operating life, with a Net Present Value (NPV5) of $2.3B and an Internal Rate of Return (IRR) of 43%. The company is targeting first gold production in Q4 CY2028. The PFS is supported by a Mineral Resource Estimate of 6.2Moz and 190Mt at 1.0 g/t Au, with approximately 85% of Indicated Mineral Resources converted to Probable Ore Reserves. The company has also identified new exploration targets along the strike and at depth of the Mineral Resource Estimate.

NPV5 of $2.3B and 43% IRR

The company is targeting first gold production in Q4 CY2028 and plans to complete a Definitive Feasibility Study and Final Investment Decision in Q1 CY2027.