Mt Dimer Delivers Upgraded Gold MRE as Mining Advances

• Updated Mineral Resource Estimate (MRE) of 975,000 t at 1.37 g/t Au for 43,000 oz of gold
• Measured and Indicated Resources established for the first time
• 142,000 tonnes already mined and stockpiled ahead of planned toll processing
• More than 7,200 metres of recent drilling supports confidence upgrade

Everest Metals Corporation Ltd (ASX:EMC) has announced an updated Mineral Resource Estimate (MRE) for its Mt Dimer Taipan Gold Project in Western Australia. The updated MRE totals 975,000 tonnes at 1.37 g/t Au for 43,000 ounces of gold at a 0.5 g/t Au cut-off grade. This update incorporates more than 7,200 metres of recent drilling and observations from mining, providing a more detailed geological model for ongoing mine planning. The estimate comprises an in-situ Mineral Resource of 833,000 tonnes at 1.38 g/t Au for 36,906 ounces and an Indicated Stockpile Mineral Resource of 142,000 tonnes at 1.33 g/t Au for 6,072 ounces. Everest's Executive Chairman and CEO, Mark Caruso, highlighted the significance of the updated estimate, noting that it reflects the current mining conditions and the company's learnings from close-spaced drilling and mining activities. The company plans to turn the stockpiled material into cash flow through toll processing under its non-dilutive arrangement with MEGA while continuing to drill to test the deposit at depth.

The company plans to turn stockpiled material into cash flow through toll processing while continuing to drill to test the deposit at depth.