First Gold Doré Following Successful Carbon Strip

Resources & Energy Group Limited (ASX: REZ) (REZ or the Company) is pleased to announce the successful completion of its first gold doré pour from the trial vat leach program at the East Menzies Gold Project, following the scheduled carbon strip on 1 February 2025 in Kalgoorlie.

HIGHLIGHTS

• REZ successfully pours first gold doré from its maiden vat leach trial at the East Menzies Gold Project
• Gold doré from this first pour has now been transported to the Perth Mint for refining and sale
• The trial shows the effectiveness of vat leaching as a gold recovery method and provides confidence for further expansion
• Onsite operators anticipate a regular gold pour cycle, with gold pours expected to occur approximately every three weeks moving forward, reinforcing the continuity of production at East Menzies
• Demonstrating confidence in this process, REZ has already submitted a second mining application with DMIRS for an expanded vat leach operation, covering 8 new vats and up to 40,000 tonnes of material from the Maranoa deposit
• This gold doré pour coincides with record-high gold prices, strengthening REZ’s potential for strong cash flow generation in the coming months

REZ Group Managing Director J. Daniel Moore said:

"The first gold doré pour is a transformational moment for REZ, proving the effectiveness of our vat leach process and reinforcing our ability to generate near-term cash flow.

The trial has given us the confidence to move forward with an expanded mining and processing program at East Menzies, and we are already taking steps to scale up our operations. We are well-positioned for sustainable growth with strong gold prices and an optimised production model."

COMMISSIONING OF A MINING & PROCESSING PROGRAM

• With the successful output from the vat leach trial confirmed, REZ is now progressing with commissioning a structured mining and processing program at East Menzies.
• To accelerate growth, the Company has submitted an application to the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) for an additional 8 vat leach dams, allowing for the processing of up to 40,000 tonnes of material from the Maranoa deposit.
• This expansion positions REZ to transition from a trial phase to a structured, scalable gold recovery operation and gold producer.

• Demonstrated Gold Recovery Success – The trial vat leach process has successfully recovered gold from the Maranoa deposit, validating this low-cost processing method.
• Gold Doré Transported to Perth Mint – Gold doré bars from this first pour have now been delivered to the Perth Mint for refining and sale.
• Scaling Up Operations – REZ’s new DMIRS application represents a significant step forward in unlocking the full production potential of the consolidated East Menzies Project.
• Sustained Production Strategy – The Company is implementing a stockpiling and batch processing model, ensuring consistent production while maintaining flexibility in refining and sales.

Figures 1-2: Dore bar in hand at Kalgoorlie Mill

EXPLORATION UPSIDE: GIGANTE GRANDE

Beyond near-term production, REZ’s Gigante Grande prospect presents a potential company-defining gold discovery. The Company continues to refine its exploration model and sees multi-million-ounce potential at this prospect.

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