Group Mineral Resources Statement

Following the successful completion of the merger between Horizon Minerals Limited (ASX: HRZ) and Greenstone Resources Limited (formerly ASX: GSR), additional resource model work and reviews, the Company is pleased to provide a consolidated statement of group Mineral Resources as of 30 June 2024.

HIGHLIGHTS

• Mineral Resources currently stand at:
  • 1.8Moz gold ¹
  • 20.2Moz silver, 104kt zinc ²
  • 283kt nickel, 40.5kt cobalt and 296.2kt manganese (50% owned) ²
• Mineral Resources are underpinned by the large cornerstone Boorara and Burbanks assets
• Updated Mineral Resource Estimates (MRE) include a maiden MRE for Pinner, an update for Monument and a revision for Boorara which is currently under an Ore Reserve Study (ORS) from AMC Consultants
• Changes to the gold MREs include:
  • Addition of 297,650oz from Burbanks open pit ³
  • Addition of 167,920oz from Burbanks underground ³
  • Addition of 13,000oz from Pinner ⁴
  • Addition of 3,000oz from Monument, and ⁴
  • Reduction of 20,240oz from Boorara ⁵
• Large Mineral Resource base and ongoing studies pave the way for a development profile aiming at sustained gold production and continuous cashflows

Commenting on the Group MRE upgrade, Managing Director and CEO Mr Grant Haywood said:

“It is very pleasing to have the Burbanks and Phillips Find assets under single ownership with Horizon’s complementary and extensive project base. Together this provides 1.8 million ounce gold portfolio, which is a great platform to implement our near term strategy of cashflow from operations and further growth into the medium and long term”.

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