Jeffreys Find Gold Mine Gold Sales Exceed $100 Million

• Stage One & Stage Two mining generates more than $100 million in gold sales.
• Auric has received a further $1.5 million interim cash distribution making the total received to date for Stage Two of $8.1 million. This is in addition to the $4.8 million received for Stage One.
• BML advises Stage Two on target to deliver $11-$12 million cash surplus for Auric.
• Stage Two gold sold passes 17,900 ounces.
• Latest gold sold at A$4,625 per ounce, for an average of A$4,024 per ounce.
• Remaining 60,000 tonne parcel to be milled in coming months.

Management Comment

Mr. Mark English, Managing Director:

“The first ore was shovelled at Jeffreys Find in May 2023. In just a couple of years this short-life mine has now generated more than $100 million in gold sales for the Project.

“Before starting we estimated a gold price of A$2,600 an ounce. Who could have envisaged that we would be selling gold at more than A$4,600 an ounce. By any measure it’s a brilliant result.

“However, not all the money is in the bank yet. We are expecting millions more in surplus cash to be received. we are expecting millions more in cash over the next few months.

“For the 2024/25 period, Stage Two of the Project, we’ve produced more than 17,900 ounces of gold with more processing to come. Our partner BML is negotiating a toll milling agreement for a parcel of up 60,000 tonnes, which is currently on the ROM Pad at the mine site. When everything is completed, we will get the final picture on just how successful the Jeffreys Find Gold Mine has been.

“Our JV agreement with BML Ventures stipulates that only after all the gold has been sold and all costs have been paid is the final surplus cash distribution paid.

“We’ve just received a further $1.5 million as an interim payment from BML which brings us to $8.1 million in total for Stage Two payments.

“BML has advised to expect an additional $3 million to $4 million in cash payments once the last of the gold is sold.

“Jeffreys Find Gold Mine has been a defining experience for Auric,” said Mr English.

Photo: The Goodbye Cut at Jeffreys Find Pit. Photo – 27 January 2025.

Through Auric’s joint venture partner BML Ventures Pty Ltd of Kalgoorlie (BML) a total of 17,901 ounces of gold has been sold from Stage Two mining at Jeffreys Find as of 21 February 2025.

Ore was milled in multiple campaigns at The Greenfields Mill, Coolgardie (Greenfields) and at the Three Mile Hill Plant, Coolgardie (Three Mile Hill) during 2024 and early 2025.

For Stage Two the highest gold price achieved was A$4,625 an ounce whilst the average price was A$4,024 per ounce.

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