• New high-grade sulphide lode identified at Hillsborough Deeps
• DHEM surveying identified multiple high-conductance targets at KMC
• FEED completed for refurbishment and modification of the Cosmic Boy Concentrator
• $7.6 million Early Works Agreement executed
• Early Production Strategy to accelerate gold production at Forrestania

Medallion Metals Ltd (ASX:MM8) reports on activities at its Ravensthorpe Gold Project (RGP) and Forrestania Gold Project (FGP) during the June 2026 quarter. At RGP, exploration drilling at Kundip Mining Centre (KMC) continued, with a new high-grade sulphide lode identified at Hillsborough Deeps. Downhole Electromagnetic (DHEM) surveying identified multiple high-conductance targets. Engineering milestones at the Cosmic Boy Concentrator (CBC) included completion of Front End Engineering and Design (FEED) for refurbishment and a $7.6 million Early Works Agreement with GR Engineering Services Ltd. At FGP, historical drilling validation advanced, and Medallion completed its first drilling program at Lounge Lizard. The company also progressed an Early Production Strategy to accelerate gold production at Forrestania.

Medallion Metals Ltd does not provide specific financial guidance in this announcement.

Medallion Metals Ltd expects to commence underground mine development at Kundip Mining Centre in August 2026 and aims to commission the refurbished Cosmic Boy Concentrator in Q2 CY2027.