British Hill Pre-Feasibility Study and Ore Reserve

Key points

• Forrestania's maiden Ore Reserve for the British Hill Deposit of 1,563 kt at 1.43 g/t Au for 71.9 koz Au
• Estimated pre-tax undiscounted free cash flow of A$104.8 million at a gold price of A$5,500/oz
• Mining and processing over approximately 23 and 11 months, respectively
• Estimated total project capital of approximately A$16.1 million

Full summary

Forrestania Resources Ltd has announced the British Hill Pre-Feasibility Study (PFS) and Ore Reserve, highlighting a near-term gold production opportunity. The PFS demonstrates a short-life, near-term development opportunity with the Production Target fully underpinned by Ore Reserves. The maiden Ore Reserve for the British Hill Deposit is estimated at 1,563 kt at 1.43 g/t Au for 71.9 koz Au, providing 100% of the Production Target underpinning the PFS. The project is scheduled for mining over approximately 23 months, with processing occurring over an 11-month period. The estimated total project capital is approximately A$16.1 million, with an average AISC of A$3,609/oz. The ore will be hauled approximately 145km by road to Forrestania's Edna May processing facility, leveraging existing processing infrastructure. The PFS was completed in September 2026 and prepared to a study accuracy of approximately ±30%.

Guidance

Estimated pre-tax undiscounted free cash flow of A$104.8 million at a gold price of A$5,500/oz

Outlook

Forrestania Resources anticipates a near-term gold production opportunity with the British Hill project, leveraging existing infrastructure and progressing key approvals. The company is optimistic about further resource growth and potential upside from upgrading Inferred Mineral Resources.