• Medallion Metals confirms Early Production Strategy at Forrestania
• Processing operations to start in Q4 CY2026, ahead of Ravensthorpe
• Toll Processing Agreement secured for 200kt of third-party material
• $2.1 million in incremental capital funded from existing reserves
• No impact on Ravensthorpe production schedule

Medallion Metals Limited has announced the implementation of its Early Production Strategy (EPS) at the Forrestania Gold Project (FGP). The strategy leverages existing processing infrastructure to generate early cashflow ahead of the planned Ravensthorpe ore treatment through the Cosmic Boy Concentrator (CBC). Processing operations are expected to commence in Q4 CY2026, approximately 9 months ahead of the planned Ravensthorpe ore treatment in Q2 CY2027. The EPS involves minor modifications to the existing infrastructure, primarily through the repurposing of equipment for gold recovery. The company has executed a Toll Processing Agreement (TPA) to process a minimum of 200kt of third-party material between September 2026 and May 2027, with potential for additional material. The implementation of the EPS is expected to de-risk the transition to Ravensthorpe ore treatment without impacting the planned production schedule.

Medallion Metals expects to recover incremental capital of $2.1 million from the EPS, funded from existing reserves.

The company anticipates rapid payback from the EPS, with steady-state operations targeted for early Q4 CY2026.