Investor Insight

Vertex Minerals presents a compelling value proposition by integrating innovative and sustainable mining practices with a phased development approach and a clear, near-term production timeline. The company is strategically positioned to capitalize on the substantial potential of this high-grade gold project, unlocking significant value for its stakeholders.

Overview

Vertex Minerals (ASX:VTX,OTCQB:VTXXF) is an Australian mineral exploration company and near-term gold producer in one of the highest-grade, if not the highest-grade, gold mining districts in Australia. The company’s Reward gold mine has a current mineral resource estimate of 419,000 tonnes at a high-grade of 16.7 grams per ton (g/t) gold for 225,000 oz contained gold.

The Reward gold Mine is focused on sustainable, low-impact, and cost-effective operations, underpinned by the use of gravity separation—a widely recognized, environmentally friendly method for gold recovery. This technique harnesses the natural force of gravity to separate gold from waste rock, significantly reducing the need for harsh chemicals. As a result, it offers a cleaner, more responsible extraction process. Additional benefits include lower power consumption, faster and more efficient processing, reduced operating costs, and enhanced recovery rates, making it a key component of Vertex Minerals’ commitment to ESG-driven mining practices.

Vertex Minerals’ potential to produce the highest grade and the greenest gold in the market is a key value proposition.

The Reward gold mine is part of Vertex Minerals’ 100 percent owned Hill End gold property in New South Wales, an advanced stage production and exploration project, with a fully permitted processing plant. In addition to Reward, Hill End also comprises the Hargraves and Red Hill projects. All three assets have a combined mineral resource of 4.21 million tonnes of gold.

The company is led by a highly experienced management and technical team with a successful track record, committed to upholding the company’s strategic objectives and delivering shareholder value.

Company Highlights

• Vertex Minerals is a gold exploration and production company focused on the historic, high-grade Hill End gold property, with the ultimate goal of becoming Australia’s high-grade, green gold producer.
• Vertex Minerals advances the Reward Gold Mine with key milestones, including its first gold concentrate production being prepared for sale
• The Reward mine has a current mineral resource estimate of 419,000 tonnes at a high-grade of 16.7 g/t gold for 225,000 oz contained gold.
• Using gravity separation technology will enable low-cost, high-efficiency and sustainable gold production.

Key Project

Hill End Gold Project

Vertex Minerals is making substantial progress in its exploration efforts at the Hill End project, a key asset designed to establish sustainable gold production in New South Wales, Australia.

Hill End is a historically significant gold mining town situated in the Bathurst Regional Council of New South Wales. The gold-bearing mineralization at Hill End extends over a 25 km strike length, encompassing the renowned Hawkins Hill mine. This mineralization occurs within the late Silurian Chesleigh Formation, which hosts gold-rich, bedding-parallel laminated quartz veins and associated structures along the eastern limb of the Hill End anticline. The Hill End trough is a deep marine basin, stretching over 200 km long and 70 km wide. It is underlain by Ordovician volcanic rocks and is situated between the Molong Volcanic Belt to the west and the Rockley-Gulgong Volcanic Belt to the east, both part of the Ordovician Macquarie Arc in the Lachlan Fold Belt of eastern Australia.

Vertex Minerals’ strategy for Hill End includes the reinstallation of a refurbished 110 ktpa Gekko gravity gold plant, initiating gold production from existing stockpiles, and advancing the development of the Reward mine. The company is also committed to further exploration and drilling to expand its high-grade resource at Hill End.

Reward Underground Gold Mine

Vertex Minerals’ Reward underground mine, located in the historically rich Hill End gold district of New South Wales, presents a compelling opportunity for high-grade gold extraction. The existing gravity processing plant is strategically situated next to the underground mine access point, providing direct access to the resource and minimizing the need for additional development.

The Reward gold mine features a robust resource base, with an indicated resource of 141,000 tonnes at 15.5 g/t gold, translating to 71,000 oz of contained gold, and an inferred resource of 278,000 tonnes at 17.3 g/t gold, representing 155,000 oz of contained gold. This asset offers significant growth potential, with ample opportunity for resource expansion and an operational life extending well beyond the current mine plan.

The pre-feasibility study (PFS) for the Reward mine indicates strong financial prospects, projecting a pre-tax cash flow of $41 million over the life of the mine at an assumed gold price of $3,000 per ounce, with an impressive six-month payback period. The mine is expected to achieve an average monthly production of 2,169 oz over a 23-month period, with a gold recovery rate of 92 percent. These projections highlight the project’s strong economic viability.

Sustainable Production

Vertex Minerals’ strategy is the integration of a high-performance Gekko gravity processing plant. Located adjacent to the underground mine access point, this cutting-edge facility will streamline the ore processing workflow.

Gravity-based mining technology leverages the natural force of gravity to separate valuable minerals from waste material. This method is especially effective for gold extraction, as gold particles are much denser than most other minerals in ore. Using specialized equipment to exploit these density differences, gold is efficiently isolated with minimal reliance on chemical processes.

The implementation of gravity technology at the Reward mine is expected to yield several positive outcomes, including an accelerated production timeline, a significant increase in throughput capacity to 120,000 tonnes per annum (up from the previous 30,000 tonnes), enhanced operational efficiency through faster processing times and reduced costs, improved cash flow, and, importantly, sustainable mining practices that align with growing industry trends towards environmental responsibility.

Key Operational Milestones

In early 2025, Vertex Minerals achieved several key milestones at the Reward Gold Mine, marking a pivotal phase in its development. The company commissioned an ore sorting module at the Hill End gravity gold plant, utilizing TOMRA’s LASER technology. This system significantly enhanced ore quality by reducing mass by 79 percent and increasing the gold grade by 337 percent, while also lowering energy and water usage in alignment with Vertex’s environmental, social, and governance (ESG) goals.

By February 2025, Vertex successfully produced its first gold concentrate during the commissioning of the gravity plant. The gold was recovered using a Wilfley table, with further upgrades, including a pre-screening scalper and centrifuge, added to handle fines from weathered stockpiles averaging 2.40 g/t.

Vertex also acquired an Epiroc Boomer TD1 drill rig, capable of both face and long-hole drilling, thereby enhancing its narrow-vein mining capabilities.

Management Team

Roger Jackson - Executive Chair

Roger Jackson has been actively involved in the mining industry for over 30 years as a mine operator, services contractor and explorer. He is a geologist with strong knowledge of gold exploration and mining. He has developed several mining and ore processing operations in Australia and abroad. Jackson has a science degree with a major in geology and geophysics, and holds a diploma in financial management and a diploma in education. He is a fellow of the Geological Society of London, a fellow of the Australian Institute of Geoscientists and a fellow of the Australasian Institute of Mining and Metallurgists.

Declan Franzmann - Non-executive Director

Declan Franzman is a mining engineer with over 30 years of experience from discovery, through construction, operations and mine closure. His expertise covers open pit and underground gold mining across Australia, Asia, Africa and South America. Franzmann is a fellow of the AusIMM, holds statutory mine management qualifications for WA, QLD and NSW and has been a director of public companies for 15 years.

Tully Richards - Technical Director

Tully Richards is an experienced gold geologist based in Orange, NSW. He has a wonderful depth and breadth of experience in exploration in the Lachlan Fold district. A graduate in geology from Sydney University, Richards has worked as a geologist in operating mines but has found his passion exploring the Lachlan Fold Belt for gold.

Alex Neuling - Company Secretary

Alex Neuling holds the positions of director, chartered accountant, and secretary at Vertex Minerals. With his chartered accountant qualifications, Neuling brings a strong financial acumen to the company's board, backed by over 15 years of professional experience in corporate and financial roles. For the past decade, he has served in pivotal positions such as company secretary, CFO and director for various ASX-listed companies. His expertise covers a diverse range of sectors, including oil and gas, mineral exploration, biotech and mining services.

Chris Hamilton - General Manager Operations, Hill End Reward Gold Mine

Chris Hamilton worked as mine manager for Aeris Resources' Tritton Operations. He was also the operations superintendent, acting MEM, safety and compliance advisor at Aurelia. Hamilton was the mine manager for Glencore's CSA Mine and examiner for NSW Resource for regulator - mining engineering manager from 2020 to present and NSW underground supervisor from 2018 to present. Hamilton holds a Bachelor of Engineering (Mining Engineering) with Honors from the University of South Australia, and has additional qualifications including First Class Mine Manager (NSW) Metalliferous - Unrestricted.

Alan Mills - Commercial Manager

Alan Mills is a qualified chartered accountant with over 15 years' experience. He has worked for multinational and ASX listed mining organisations such as Glencore, Aeris Resources, Newmont Corporation and Mitsui in site and corporate senior commercial, financial and management accounting roles. Mills holds a Bachelor of Commerce (Accounting) from Griffith University and is a member of Chartered Accountants Australia and New Zealand.

Thomas Cowan - Senior Mining Engineer

Thomas Cowan holds a B. Eng (Mining) from University of Wollongong, a Grad. Dip of Mine Ventilation and a NSW Underground Supervisors certificate. He is experienced in mine planning, drill and blast, and ventilation in both underground coal and base metals. Cowan recently worked at Aeris Resources Tritton mine.

Carl Clark - Senior Mining Geologist

Carl Clark has more than 30 years' experience as a geologist internationally and in Australia where he cut teeth in the WA goldfields.

Julian Geldard - Senior Mining Geologist

With nearly a decade of experience in mining and exploration in various commodities, Julian Geldard has a high focus on narrow vein gold within the Lachlan fold belt. He recently worked as a project geologist at Ballarat Goldfields and Woods Point Gold Mine.