• Significant increase in Dalgaranga Gold Project Mineral Resource to 2.87Moz at 5.61g/t
• Discovery of high-grade Freak prospect, 110m south of Pepper deposit
• Approvals received for underground mining and processing at Dalgaranga

Spartan Resources Ltd reported an outstanding quarterly update, highlighted by a 16% increase in the Mineral Resource estimate for its 100%-owned Dalgaranga Gold Project to 15.9Mt @ 5.61g/t gold for 2,868,900 ounces. This included a 99% increase in the high-grade Pepper deposit to 873,400 ounces at 10.31g/t. The company also made a significant new discovery at the Freak prospect, located just 110 metres south of the Pepper deposit, with multiple high-grade intersections. Importantly, Spartan received all the necessary regulatory approvals to commence underground mining and processing of ore at Dalgaranga. The company also completed a $220 million capital raise to fund development and exploration activities. Spartan's exploration success and operational progress have positioned the company well to transition Dalgaranga into a long-life, high-grade underground mining operation.

Spartan Resources has not provided any high-importance, price-sensitive forward-looking financial guidance in this announcement.

Spartan Resources is focused on rapidly progressing the development of the Dalgaranga Gold Project, including completing feasibility studies and making a production restart decision during 2025. The company is also planning an extensive exploration program to follow up on the new Freak prospect discovery and test other targets along the emerging Dalgaranga Mineralised Structural Corridor.