• Northern Star to acquire De Grey Mining under Scheme of Arrangement
• Hemi Gold Project fully funded with $786M cash and planned senior debt facility
• Mineral Resource Estimate for Hemi and Regional deposits increased to 13.6Moz
• Brolga Starter Pit has maiden Measured Mineral Resource of 0.6Moz

The key highlights from De Grey Mining's quarterly activities report include the proposed acquisition of the company by Northern Star Resources under a Scheme of Arrangement, with De Grey shareholders to own approximately 19.9% of the combined entity. The company has $786 million in cash and short-term deposits, along with a planned senior debt facility, which are expected to fully fund the development of the Hemi Gold Project. The Mineral Resource Estimate for Hemi and the Regional deposits has been updated to 13.6Moz. Infill drilling at the Brolga deposit has enabled a maiden Measured Mineral Resource of 0.6Moz within the Brolga Starter Pit. The company has also made progress on the environmental approvals process and project development activities, including awarding contracts for long-lead items and advancing the tender process for the mining and processing plant construction.

The Hemi Gold Project is expected to produce an average of 553koz per annum in the first 5 years and 530koz per annum in the first 10 years, with an average AISC of A$1,229/oz in the first 5 years and A$1,295/oz in the first 10 years.

The company is progressing the Hemi Gold Project development, with a focus on finalizing the environmental approvals, awarding the remaining major contracts, and commencing construction activities subject to the timing of statutory approvals.