• Liontown Resource upgraded to 7.27Mt @ 3.19g/t AuEq for 745Koz AuEq
• Gold-dominant Liontown Gold Study Resource increased by 13% in contained gold
• Resource confidence improved with 75% of Liontown Gold Study Resource in Measured or Indicated classification
• Metallurgical test work returned an average overall recovery of 92.3%
• Updated Liontown Mining Study due in August 2026

Sunshine Metals Limited (ASX:SHN) has upgraded the Liontown Resource following recent drilling and metallurgical studies. The total Liontown Resource now stands at 7.27Mt @ 3.19g/t AuEq for 745Koz AuEq recoverable. The gold-dominant portion of the Liontown Resource, known as the Liontown Gold Study Resource, has increased by 13% in contained gold, 21% in contained silver, and 28% in overall tonnes. The Liontown Gold Study Resource comprises only ~14% of the total Liontown Resource tonnes but accounts for ~36% of the contained gold. Resource confidence has increased, with 75% of the Liontown Gold Study Resource in Measured or Indicated classification. Metallurgical test work at 80µm grind returned an average overall recovery of 92.3%. An updated Liontown Mining Study is due in August 2026.

Liontown Resource: 7.27Mt @ 3.19g/t AuEq for 745Koz AuEq recoverable

The upgraded Liontown Resource and improved resource confidence provide a solid foundation for the upcoming Liontown Mining Study in August 2026.