Johnson Range Pre-Feasibility Study and Ore Reserve

Key points

• Johnson Range Pre-Feasibility Study shows high-grade gold production potential
• Ore Reserve of 308kt at 2.88g/t Au for 28.5koz Au estimated
• Estimated pre-tax undiscounted free cash flow of A$60.1 million at A$5,500/oz
• Mining scheduled over 11 months, processing over 3 months at AISC of A$2,905/oz
• Total project capital estimated at approximately A$8.0 million

Full summary

Forrestania Resources Ltd has announced the Johnson Range Pre-Feasibility Study (PFS) and Ore Reserve, demonstrating a near-term high-grade gold production opportunity. The PFS highlights a short-life, near-term development opportunity with a fully underpinned Production Target. The Ore Reserve for the Johnson Range Deposit is estimated at 308kt at 2.88g/t Au for 28.5koz Au (100% Probable). The study estimates a pre-tax undiscounted free cash flow of A$60.1 million at a gold price of A$5,500/oz over a 12-month project life. Mining is scheduled over approximately 11 months, with processing occurring over a three-month period, at an average All-In Sustaining Cost (AISC) of A$2,905/oz. Ore is planned to be hauled approximately 236km by road to Forrestania's Edna May processing facility, leveraging existing processing infrastructure. The estimated total project capital is approximately A$8.0 million. The average metallurgical recovery of approximately 92% is adopted in the PFS.

Guidance

Estimated pre-tax undiscounted free cash flow of A$60.1 million at A$5,500/oz

Outlook

Forrestania Resources is strategically positioned to leverage its Edna May processing infrastructure, with potential for resource conversion and mine life extension through future drilling and technical work.