Early Works Commence at Black Swan Processing Hub

Maritana Minerals Limited (ASX:MRT) (“Maritana” or “the Company”) is pleased to announce the commencement of Early Works at its 100% owned Black Swan Processing Hub (“BSPH” or “the Project”), about 50km northeast of Kalgoorlie, Western Australia. The Company has engaged GR Engineering Services Limited (ASX:GNG) (“GRES”) to deliver the Early Works program covering earthworks, demolition, detailed engineering and long-lead equipment procurement.

HIGHLIGHTS

• Early Works commenced – the BSPH Gold Conversion Project has progressed from the 2.5Mpta FEED phase¹ to the commencement of Early Works
• First gold targeted in H2 CY2027 – Early Works de-risks BSPH costs and schedule, targeting the start of full construction in Q3 CY2026 and first gold in H2 CY2027
• GR Engineering engaged – GRES completed the Project’s FEED and will continue working to deliver the ~20 week Early Works program, targeting completion by early Q4 CY2026 prior to commencement of the EPC contract
• Zeal Engineering engaged – Zeal has been engaged as Maritana’s “Owner’s Engineer” and will oversee the delivery of the Early Works program
• Long-lead procurement underway – orders are being progressed for critical process equipment, electrical infrastructure and materials required to maintain the project schedule
• Earthworks and demolition – scopes of work and AFC drawings being developed to enable tendering and the commencement of site works
• SAG mill refurbishment advancing – non-destructive testing and site assessments complete with shell removal arranged, defects to be repaired off-site or a new shell and heads being fabricated
• CIL circuit contracts to be awarded – CIL tank construction and civil works contracts to be awarded during Early Works
• A$25.0 million committed expenditure – securing critical long-lead equipment and advancing detailed engineering ahead of the EPC phase
• EPC contract being finalised – positioning the Project for a seamless transition from Early Works into full construction ahead of a final investment decision once all Works Approvals received

“The commencement of Early Works is a major step forward for the Black Swan Processing Hub and will see site-based activities begin shortly as we transition from design to delivery. GR Engineering Services will lead this phase while detailed engineering and the ordering of long-lead equipment is progressed in parallel. These steps de-risk costs and timing which keeps us on track for our objectives of advancing toward full construction in Q3 CY2026 and producing first gold from the Black Swan Processing Hub in H2 CY2027.”

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