• Group Ore Reserves increased by 33% to 5.2 million ounces
• Mt Gibson PFS Update projects steady-state production of 260 koz pa
• Aspiration to achieve 500,000 ounces per annum production within 5 years
• Karlawinda expansion targets 150 koz pa
• Range 500 aspiration includes a second processing hub at Golden Range

Capricorn Metals Ltd. has released a significant update on its gold reserves and production outlook. The company's group ore reserves have increased by 33% to 5.2 million ounces, with strong growth at both the Karlawinda and Mt Gibson projects. The Mt Gibson PFS Update projects a steady-state production of 260 koz pa within 2.5 years of project start. Capricorn also outlines an aspiration to achieve 500,000 ounces per annum production within 5 years, underpinned by the expansion of the Karlawinda project to 150 koz pa, the steady-state production of Mt Gibson, and a second processing hub at Golden Range. The company emphasizes that the Range 500 aspiration is an aspirational goal and not a production target or forecast.

Group production outlook to exceed 400 koz pa within 2.5 years of Mt Gibson start

Capricorn Metals aims to achieve 500,000 ounces per annum production within 5 years, contingent on the successful expansion of Karlawinda and the development of Mt Gibson and Golden Range projects.