Horizon Minerals Limited Greenstone Shareholders to vote on Horizon Merger

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce that it has entered into a binding Toll Milling Agreement ("TMA") with FMR Investments Pty Ltd ("FMR") to treat 200kt of Horizon ore from the Cannon underground project, or other deposit, commencing in the December 2024 Quarter.

HIGHLIGHTS

- Binding TMA has been executed with FMR, which owns the Greenfields Mill located northeast of Coolgardie and 30km southwest of Kalgoorlie-Boulder in WA

- Horizon will arrange contract mining and hauling of ore from Cannon for ore processing at FMR's 1.0Mtpa Greenfields Mill, located ~67km by road from the Cannon Project

- An agreed 200kt of ore will be processed over a period of eight months, commencing in the December 2024 Quarter

- The TMA contains competitive ore treatment rates with the payment structure as follows:

o Horizon is responsible for delivery of each stockpile to the Greenfields Mill ROM near Coolgardie

o Payment of processing costs must be made before the value of the processed and refined gold at the Perth Mint is transferred from FMR's metal account to Horizon

o If the delivery schedule is missed Horizon will forfeit its allocated tonnes for that month and from the overall 200kt allocation

- An Ore Reserve for Cannon has already been established including forecast economics for the ore to be processed via a Toll Milling Agreement

- Cannon is fully environmentally permitted (with last mining in 2017) with pre-production activities are already underway, including dewatering of the open pit in preparation for underground mining

- The TMA has flexibility that Horizon can treat Horizon ore other than Cannon, including Horizon's own current resources or those acquired through the proposed merger with Greenstone Resources Limited, provided sufficient notice is provided to FMR

Commenting on the toll milling agreement, Chief Executive Officer Mr Grant Haywood said:

"We are very pleased to have converted our 200,000 tonne allocation with FMR into a formal Toll Milling Agreement, and look forward to working closely with them as ore deliveries will commence later this calendar year. This agreement is in addition to our 1.4Mt ore sale agreement with Paddington announced a week ago. Together this will see us generating cash flow from two fronts in this fantastic gold price environment before the end of 2024."

Next Steps

- AMC Consultants has been engaged and undertaken a review of the Cannon Ore Reserve and will progress the revised key financial outcomes for the June 2024 Quarter

- Finalise engagement with underground mining and haulage contractors to finalise tenders for Cannon

- Complete the proposed merger with Greenstone Resources to enhance the long-term production profile with development ready high-grade projects

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/WUABZYMW

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce that it has entered into a binding Ore Sale Agreement ("OSA") with Paddington Gold Pty Ltd to treat 1.4Mt of Horizon ore from the Boorara Gold Project.

HIGHLIGHTS

- Binding OSA has been executed with Paddington Gold Pty Ltd, a wholly owned subsidiary of Norton Gold Fields Ltd

- Horizon will arrange contract mining and hauling of ore from Boorara for ore processing at Norton's 3.8Mtpa Paddington Mill, located ~56km by road from Boorara

- An agreed 1.4Mt ("Agreed Amount") will be processed over a period of 22 months, commencing in the September 2024 Quarter

- The OSA contains competitive ore treatment rates with the payment structure as follows:

o Within 5 days of delivering ore to the Paddington ROM pad, Paddington to pay Horizon 50% of gross revenue less estimated processing costs and royalties, based on the determined grade for each stockpile

o Gross revenue calculated based on the Perth Mint spot price on the date of gold pours

o Within 5 days of Paddington fully treating the stockpile, a final revenue calculation shall be made based on the determined grade, moisture and metallurgical recovery, less agreed costs for processing and state gold royalty payments, to calculate a final payment to Horizon

o Stockpiles to be between 10,000t - 50,000t from a combination of oxide, transitional and fresh sources, with Paddington having the right to reject any stockpile that does not meet specifications

o Agreed Amount represents less then 15% of the current Boorara Mineral Resource of 11Mt @ 1.26g/t Au for 448,240oz

o Agreed Amount can be increased or decreased by mutual agreement

o Conditions precedent include Paddington receiving JORC clause 12 modifying factors for an Ore Reserve from Horizon, and Horizon demonstrating all mining permits, approvals, mining and haulage contracts in place within 45 business days

- An Ore Reserve for Boorara based on the tonnage going to Paddington, including forecast economics for the ore processing agreement, will be estimated in the current June Quarter

- Boorara is fully environmentally permitted (with last mining in 2020) and ready for development which is expected to commence within the current June Quarter

Commenting on the return to gold production, Chief Executive Officer Mr Grant Haywood said:

"This is a great opportunity for Horizon to generate strong cashflows in this high gold price environment and takes us further down our pathway to sustained gold production. We continue to work on our other projects to bring additional near-term cashflow into the production pipeline, along with the additional resources and optionality of projects to come through our proposed merger with Greenstone Resources."

Next Steps

- AMC Consultants has been engaged and undertaken preliminary work on Boorara and will progress Boorara into an Ore Reserve study under the JORC (2012) code for release in the June 2024 Quarter

- Continue engagement with mining and haulage contractors to finalise tenders for Boorara and award contracts in the June 2024 Quarter

- Finalise the 200,000 tonne mill allocation with FMR Investments' Greenfields mill with an executed Toll Milling Contract to support mining at the Cannon Gold Project

- Complete the proposed merger with Greenstone Resources to enhance the long-term production profile with development ready high-grade projects

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/TQ7EV6X7

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide the March 2024 Quarterly Activities Report. Horizon is an exploration and production company within the Kalgoorlie and Coolgardie regions of Western Australia.

HIGHLIGHTS

- Merger with Greenstone Resources Limited (ASX:GSR) announced with the logical combination of assets in the eastern goldfields of WA to create a significant gold company with 1.8 million ounces of gold resources with an extensive 939km2 land holding with exposure to other multi-commodity assets. Horizon shall be the surviving entity, with the merger due for completion in mid-June 2024

- MergeCo shall employ a dual track strategy to bring in short term cashflow via a pipeline of development ready production assets through a contract mining / JV and toll milling scenario, in parallel with working on the larger cornerstone assets of Boorara and Burbanks which have a combined resource inventory of 914koz at 1.7g/t Au with potential to support a profitable long-life operation

- Cannon pipeline and pumping system commissioned, with the majority of tenders received from underground mining contractors to advance development of the project

- Prefeasibility study commenced for the Pennys Find underground project

- Initial optimisations completed for the cornerstone Boorara and Kalpini projects show strong cashflows at A$2800/oz, along with the larger, longer life Boorara scenario under a Carbon in Leach (CIL) and Heap Leach processing pathways also looking positive.

- Cash at bank of A$3.4 million and listed investments totalling A$9.8 million

A key objective for the Company is on near term gold production and exploration upside within our large tenement package of over 900 km2 . The Company holds numerous multi - commodity assets including 1.28 Moz of gold resources, the Nimbus Silver Zinc project in Western Australia and listed investments including Richmond Vanadium Technology (ASX:RVT) which holds the world class 1.8Bt Richmond vanadium project in northwest Queensland.

Activities during the quarter focussed on preproduction activities at the Cannon Project including completion and commissioning of a dewatering pipeline between Cannon and Golden Ridge.

Tenders were also received from several underground mining contractors. Prefeasibility work commenced on the Pennys Find underground mine, which is slated to commence after Cannon underground. Early stage soil and rock chip sample results were also received from the Bridgetown-Greenbushes lithium project, along with lithium results from Yarmany East.

The balance sheet was strengthened with the shares in TSX and NASDAQ listed Vox Royalty Corporation common shares released from voluntary escrow which can be liquidated with an estimated value of A$2.98m (before broker commission and US withholding tax).

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/I46W1T49

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to advise further information on the Company's listed investments of 948,448 shares from Vox Royalty Corp. ("Vox").

The Company received the 948,448 Vox common shares which were issued on 24 November 2023 in the name of Horizon Minerals Limited and held in escrow for 4 months.

Following the release from escrow the block of Vox shares were sold on market via the NASDAQ and TSX exchange for an average price of US$2.077 which has returned gross proceeds of A$$2,927,918 (US$1,913,101 @ 0.6534) before broker commission and US/Canada withholding tax for foreign source income (currently held in USD).

Horizon has again strengthened its balance sheet over the past year and now has a cash and investments position of $12.3 million which will support the Company objectives to move into production.

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.