Quarterly Activities Report for the Period Ended 30 September 2024

HIGHLIGHTS FOR QUARTER

• Vertex has identified major benefits for utilising pre-concentration technology at its Reward high grade gold mine.
• Ore sorting pre-concentration test work was initiated with leading ore sorting provider TOMRA with outstanding results.
• 94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted. The following results were reported¹;
  • Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,
  • Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),
  • Ore/waste split after sorting = 1G.31kgs Ore vs 74.54kgs Waste (7G% mass reduction),
  • Gold lost to waste fraction = 0.03grams (>G0% efficiency)
• Refurbishment of the plant is well underway, and Vertex anticipates that the plant will be re-installed at Hill End later this year. The Company anticipates production will commence in January 2025
• Vertex acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource

ORE SORTER TEST WORK AND IMPLEMENTATION INTO THE HILL END GRAVITY PLANT

• Pre-concentration technology initiated at the Hill End Gravity Plant to separate high- grade ore from waste before it enters the processing plant.
• By processing only high-grade ore, energy consumption can be reduced, water consumption will be halved leading to lower operating costs and reduction of the carbon footprint.
• The small sorting unit will be simply incorporated in the existing plant being refurbished by Gekko
• Previous scoping test results from TOMRA suggested that the Greywacke country rock can be efficiently and effectively separated from the high-grade quartz carrying the gold leading to significant head grade uplift and reduced material to be processed.

Test Results

• 94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted. The following results are reported;
• Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,
• Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),
• Ore/waste split after sorting = 19.31kgs Ore vs 74.54kgs Waste (79% mass reduction),
• Gold lost to waste fraction = 0.03grams (>90% efficiency)
  Refer to VTX ASX Announcement 26th July 2024

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