29METALS LIMITED — Capital/Financing Update 2024

Nov 25, 2024

ASX ANNOUNCEMENT

Tuesday, 26 November 2024

Updated High-grade copper intercepts extend Europa

29Metals Limited (‘ 29Metals ’ or, the ‘ Company ’) refers to its announcement earlier today in relation to results from Resource Conversion and Resource Extension drilling at Golden Grove. This updated release includes a new Appendix 3 setting out the relevant 2023 Mineral Resources Estimates summary table and relevant confirmations. The drilling results reported in this release have been prepared and are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (the ‘ JORC Code ’).

Highlights[1] :

• Resource Extension drilling intercepted high-grade copper mineralisation approximately 100 metres below existing Europa Mineral Resource estimates[2] , results included: - G24/159A: 43.9m @ 3.0% Cu, 0.4g/t Au, 18g/t Ag, from 955.1m

• • G24/159A: 32.6m @ 2.7% Cu, 0.4g/t Au, 16g/t Ag, from 1,009.4m
• • G24/162: 16.6m @ 4.9% Cu, 0.5g/t Au, 30g/t Ag, from 937.5m

• Europa Resource Conversion drilling returned high grade copper intercepts, including: - G24/162: 25.8m @ 6.9% Cu, 0.6g/t Au, 42g/t Ag, from 864.5m

• Europa is a future planned ore source at Golden Grove, within approximately 155 metres of the existing Xantho Extended decline.

• Europa Mineral Resources[2] remains open down dip and along strike.  Potential mining cost synergies exist between Xantho Extended and Europa, by progression of the Xantho Extended decline between the Xantho Extended foot wall and Europa hanging wall.

• Xantho Extended Resource Conversion drilling confirmed high grade zones, results included: - G24/162: 19.8m @ 22% Zn, 0.2% Cu, 0.5g/t Au, 50g/t Ag, 1.6% Pb, from 490.1m

• • G24/160: 21.4m @ 10.5% Zn, 0.3% Cu, 1.0g/t Au, 22g/t Ag, 0.4% Pb, from 455.9m

• The results reported today are not included in 29Metals’ 2023 Mineral Resources & Ore Reserves estimates[2] at 31 December 2023 (reported on 23 February 2024). Commenting on the drilling results, Chief Executive Officer, James Palmer, said: “As a high-grade, copper dominant mineralised zone, today’s results highlight Europa’s potential to add even more copper weighting to Golden Grove’s future production mix. These results build on a long history of successful Resource Extension drilling at Golden Grove, which has progressively expanded the Gossan Hill and Scuddles mine lives since first production over 30 years ago. With results like the ones today from an existing mining front, and the potential for establishment and expansion of a new mining front at Gossan Valley, we see a lot of opportunity to build on this history of successful mine life extensions at Golden Grove.”

1 Refer to Appendix 1 for full detail of drilling results. In this release, all drilling results lengths cited are down-hole lengths unless otherwise stated. 2 In this release, unless the context requires otherwise, a reference to Mineral Resources and Ore Reserves estimates is a reference to estimates included in 29Metals’ 2023 Mineral Resources and Ore Reserves estimates (which includes Competent Person’s statements and JORC Code Table 1 disclosures), as released to the ASX announcements platform on 23 February 2024.

29Metals Limited (ABN 95 650 096 094) (ASX: 29M ) Head office: Level 2, 150 Collins Street, Melbourne VIC 3000

ASX Announcement High-grade copper intercepts extend Europa

Background

The Europa mineralised zone is one of 29Metal’s in-mine growth focus areas, located in the lower Golden Grove formation in the footwall of Xantho Extended. Historic drilling at Europa is limited as recent exploration activity has focused primarily on extensions of Xantho Extended, which is currently Golden Grove’s highest value ore source.

The results reported in this release are from a 3-hole program designed to test down plunge extensions of Europa along with testing the continuity and orientation of the mineralisation within the current Mineral Resource estimates[2] . An underground drill platform within the existing Xantho Extended development was used for the drill program, resulting in drill holes passing through existing Xantho Extended Mineral Resources estimates[2] en route to the Resource Extension target areas. Hence, drill holes reported in this release are classified across Resource Conversion, and Resource Extension drilling categories.

Figure 1 shows a long-section of Golden Grove, illustrating the boundary of 29Metals’ Mineral Resources estimates[2] , and highlights the target area for the drilling results reported in this release. December 2023 Mineral Resource estimates[2] for Xantho Extended and Europa is 9.6Mt @ 2.0% Cu, 6.7% Zn, 0.8g/t Au, 32g/t Ag, and 0.3% Pb, for 195kt Cu, 640kt Zn, 241koz Au, 9,724koz Ag, and 29kt Pb[3] .

Figure 1: Golden Grove long-section highlighting Xantho Extended and Europa drilling target area.

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Results

Exploration drilling results from the recent 3-hole drill program intersected broad zones of copper mineralisation below the existing Europa mineralised zone, made up of massive to semi-massive pyrite and chalcopyrite. The most significant Resource Extension interval was 43.9m @ 3.0% Cu, 0.4g/t Au, 18g/t Ag[1] .

The drilling expands the potential mineralised area of Europa down plunge of existing Mineral Resource estimates[2] , which presents a sizable exploration opportunity. Europa mineralised zone remains open down dip and along strike, and is approximately 155 metres from the existing Xantho Extended decline.

Europa Resource Conversion drilling intersected copper-rich lenses of massive to semi-massive pyrite and chalcopyrite. The most significant Europa Resource Conversion interval was 25.8m @ 6.9% Cu, 0.6g/t Au, 42g/t Ag[1] . The relationships between the mineralisation zones and between Xantho Extended and Europa orebodies are shown in Figure 2.

3 Refer to Appendix 3 for relevant 2023 Mineral Resources and Ore Reserves Estimates summary table.

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Resource Conversion drilling intercepted zinc and copper mineralisation within the Xantho Extended Mineral Resource[2] and copper mineralisation to the east of Xantho Extended within the Europa Mineral Resource[2] . Xantho Extended mineralisation intersected zinc-rich lenses made up of massive to semi-massive pyrite and sphalerite stratigraphically adjacent to copper rich lenses made up of massive to semi-massive pyrite and chalcopyrite. Some mixing of these zones is observed.

Full details of the reported drilling results are included in Appendix 1 and JORC Code Table 1 disclosures are set out in Appendix 2.

Figure 2 – Section view looking local grid 20 degrees (N-NE) north displaying Xantho Extended, and Europa, sulphide lenses along with mining voids. Highlighted drill hole traces reported in

this release and historic drilling.

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Image showing drilling reported in this release tracking from hanging wall to footwall through the Xantho Extended and Europa orebodies. Image is looking local grid northnortheast.

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Figure 3: Long-section of Europa – showing pierce points of highlighted assays results from holes reported in this release as well as the pierce point locations of historic drilling in relation to existing Mineral Resources estimates[2] and mining voids. Image is orientated to look local mine grid west.

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Image of Europa orebody showing reported drilling results in relation to existing Mineral Resources estimates[2] and mining voids. Image is looking to local grid west.

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A summary of the drilling results from Figures 2 and 3 are set out in Table 1 below. Full details of the reported drilling results are included in Appendix 1 and JORC Code Table 1 disclosures are set out in Appendix 2.

Table 1: Summary of drilling results

Hole ID	Drilling Type Orebody	Depth From Depth To Downhole Length Cu Zn Au Ag Pb
		m m m % % g/t g/t %
G24/159A	Resource Extension Europa	800 804.5 4.5 2.3 0.0 0.1 18.0 0.0
		955.1 999 43.9 3.0 0.0 0.4 18 0.0
		1009.4 1042 32.6 2.7 0.0 0.4 16 0.0
G24/160	Resource Extension Xantho Extended	187.6 194.2 6.6 0.1 8.1 0.4 91 1.2
	Resource Conversion Xantho Extended	422.7 434.9 12.2 0.1 16.5 0.3 9 0.3
		455.9 477.3 21.4 0.3 10.5 1.0 21.7 0.4
		480 512.1 32.1 2.9 0.8 0.5 26.7 0.0
		567.4 573 5.6 2.7 0.0 0.4 27.8 0.0
	Resource Conversion Europa	794.2 821.9 27.7 2.4 0.0 0.5 16.9 0.0
G24/162	Resource Extension Xantho Extended	221.1 224.4 3.3 0.1 8.7 5.1 123 1.9
	Resource Conversion Xantho Extended	490.1 509.9 19.8 0.2 22.0 0.5 50 1.6
		526 537.9 11.9 1.9 2.1 1.1 30 0.0
		540.9 548.9 8.0 1.6 2.7 0.8 40 0.1
		610.2 617.4 7.2 2.9 0.1 0.7 28 0.0
	Resource Conversion Europa	709.9 717.3 7.4 4.5 0.1 0.7 36 0.0
		744.8 778.4 33.6 2.9 0.0 0.5 19 0.0
		864.5 890.3 25.8 6.9 0.0 0.6 42 0.0
	Resource Extension Europa	937.5 954.1 16.6 4.9 0.0 0.5 30 0.0

Future work

Further drill holes will be designed to test for in-mine organic growth via potential extension of the Europa Mineral Resource estimates[2] down plunge and along strike.

29Metals updates its Mineral Resources and Ore Reserves estimates annually. The next update to 29Metals’ Mineral Resources and Ore Reserves estimates is planned to be published during the March Quarter 2025.

• ENDS -

Authorised for release by the Chief Executive Officer, James Palmer

Enquiries

Kristian Stella

Group Executive, Corporate Development

e: kristian.stella@29metals.com

t: +61 409 338 517

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Competent Person Statement

The information regarding exploration results in this release is based on and fairly represents information and supporting documentation compiled by Mr Lucas Williams.

Mr Williams is Group Executive, Geology & Exploration and a full-time employee of 29Metals Limited. Mr Williams is a member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to this style of mineralisation and type of deposit under consideration, and to the activity being reported on, in this release to qualify as a Competent Person as defined in the JORC Code.

Mr Williams has consented to the inclusion in this release of the information regarding exploration results in the form and context in which it appears.

Forward-looking statements

This document contains certain forward-looking statements and comments about future events, including in relation to 29Metals’ businesses, plans and strategies and expected trends in the industry in which 29Metals currently operates. Forward-looking statements can generally be identified by the use of words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “plan”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “outlook”, “estimate”, “target” and other similar words. Indications of, and guidance or outlook on future earnings or financial position or performance are also forward-looking statements.

Forward-looking statements involve inherent risks, assumptions and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other forward-looking statements will not be achieved. A number of important factors could cause 29Metals’ actual results to differ materially from the plans, objectives, expectations, estimates, targets and intentions expressed in such forwardlooking statements, and many of these factors are beyond 29Metals’ control. Statements or assumptions in this document may prove to be incorrect, and circumstances may change, and the contents of this document may become outdated as a result.

Without limiting the generality of the foregoing, 29Metals notes that instances of escalating COVID-19 infection and hospitalisation rates continue to be reported publicly. 29Metals’ guidance and other forwardlooking statements assume that restrictions on movement and other government intervention will not return or escalate.

Forward-looking statements are based on 29Metals’ good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect 29Metals’ business and operations in the future. 29Metals does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, many of which are beyond 29Metals’ reasonable control.

Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of this document, and except where required by law, 29Metals does not intend to update or revise any forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this document.

Nothing in this document is a promise or representation as to the future, and past performance is not a guarantee of future performance. 29Metals nor its Directors make any representation or warranty as to the accuracy of such statements or assumptions.

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High-grade copper intercepts extend Europa

Appendix 1: Drilling Results

All drilling results for activities covered in this announcement have been reported in this Appendix 1.

Hole ID	Drilling Type Orebody Easting Northing RL Azi Dip Total Depth	Depth From Depth To Downhole Length Cu Zn Au Ag Pb
	Local Local Local Local m	m m m % % g/t g/t %
G24/159A	Resource Extension Xantho Extended 5011 19302 9020 128 -72 1070.5	800 804.5 4.5 2.3 0.0 0.1 18.0 0.0
	Resource Extension Europa	955.1 999 43.9 3.0 0.0 0.4 18 0.0
		1009.4 1042 32.6 2.7 0.0 0.4 16 0.0
G24/160	Resource Extension Xantho Extended 5011 19302 9020 119 -69 1084.2	187.6 194.2 6.6 0.1 8.1 0.4 91 1.2
	Resource Conversion Xantho Extended	422.7 434.9 12.2 0.1 16.5 0.3 9 0.3
		455.9 477.3 21.4 0.3 10.5 1.0 21.7 0.4
		480 512.1 32.1 2.9 0.8 0.5 26.7 0.0
		567.4 573 5.6 2.7 0.0 0.4 27.8 0.0
	Resource Conversion Europa	794.2 821.9 27.7 2.4 0.0 0.5 16.9 0.0
G24/162	Resource Extension Xantho Extended 5011 19302 9020 124 -68 996.3	221.1 224.4 3.3 0.1 8.7 5.1 123 1.9
	Resource Conversion Xantho Extended	490.1 509.9 19.8 0.2 22.0 0.5 50 1.6
		526 537.9 11.9 1.9 2.1 1.1 30 0.0
		540.9 548.9 8.0 1.6 2.7 0.8 40 0.1
		610.2 617.4 7.2 2.9 0.1 0.7 28 0.0
	Resource Conversion Europa	709.9 717.3 7.4 4.5 0.1 0.7 36 0.0
		744.8 778.4 33.6 2.9 0.0 0.5 19 0.0
		864.5 890.3 25.8 6.9 0.0 0.6 42 0.0
	Resource Extension Europa	937.5 954.1 16.6 4.9 0.0 0.5 30 0.0

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Appendix 2: JORC Code Table 1 disclosures

Section 1 - Sampling Techniques and Data

CRITERIA	COMMENTARY	COMMENTARY
Sampling techniques	 	Samples have been collected through diamond drilling (“DD”), from underground. Sample length is preferentially set to 1m and ranges from 0.5m to 1.0m of half core. Sample intervals do not cross geological boundaries; this ensures
		samples were representative of the lithological unit without mixing of grade at lithological boundaries. There is no limit for shortest sample interval in the
		database controls currently, though Geologists are recommended to not sample intervals shorter than 0.5m.
		Entire half core samples are crushed and pulverised to 85% passing 75µm.
		Measures taken to ensure sample representativity include the collection and analysis of field and coarse crush duplicates.
Drilling techniques	 	DD diameter drilled NQ2, The Reflex Act II™ tool is used for core orientation marks on all DD holes.
Drill sample		Recoveries of DD core are recorded as percentages calculated from measured core versus drilled metres. The intervals are logged and recorded in the
recovery		database.
		The rocks are very competent, and recoveries are very high with average core recovery greater than 99.5% for both mineralised and non-mineralised material.
		Drilling process was controlled by the drill crew and geological supervision provides a means for maximising sample recovery and ensures suitable core
		presentation. Drilled core is reconstructed into a continuous run on an angled iron cradle for orientation marking. Depth is checked against depth provided on
		core blocks. No other measures are taken to maximise core recovery.
Logging	 	All (100%) drill core are logged geologically using codes set up for direct computer input into the Micromine Geobank™ database software package. All (100%) DD cores are geotechnically logged to record recovery, RQD, Structural logging is recorded for all oriented core. DD cores are photographed wet.
		Logging is both qualitative and quantitative (percentage of sulphide minerals present).
		Underground drill holes (100%) are logged in full detail from start to finish using laptop computers directly into the drillhole (Geobank) database.
		Standard mineralised rock codes used. Standard weathering, alteration and appropriate geological comments entered.
Sub-sampling techniques and		All DD core is half-cut onsite using an automatic core saw with samples always taken from the same side. Half core is used for routine sampling and quarter core for field duplicates. Current sample length ranges between 0.5 and 1m (historically this can have been from 0.2m to 1.5m) and is adjusted to geological
sample		boundaries.
preparation		The sample preparation DD core adheres to industry best practice. A commercial laboratory is used which involves:
		- Weighing
		- Oven drying at 90º C
		- Coarse crushing to 6mm
		- Pulverising in an LM5 to a grind size of 85% passing 75µm.
		- Samples > 3kgcrushed to 2mm and split usinga rotarysplitter(this represents < 0.01% of total sample used for Mineral Resource estimation).

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	ASX Announcement High-grade copper intercepts extend Europa	ASX Announcement High-grade copper intercepts extend Europa
CRITERIA	COMMENTARY
		- Collection of 400g pulp from each sample; rejects kept or discarded depending on drilling programme.
		Duplicates are taken after coarse crushing and pulverisation at a rate of 1:20 alternating between the two. These are subject to the same assay process as
		routine samples.
Quality of assay data and		A four acid “near-total” digestion is used to determine concentrations for silver, copper, iron, lead, sulphur and zinc. This method underwent a change in October 2014 after extensive test work was conducted. Previously it used a 0.4g sample in a HF-HNO3-HClO4 digestion, with HCl leach and finished using
laboratory tests		ICP-AES. Since October 2014, the sample charge weight is 0.2g in the same acid digestion maintaining the sample/solution ratio as the previous method.
		There is no material impact as a result of this change and is an ore grade method suitable for use in VHMS deposits.
		A 30g fire assay with ICP-AES finish is used to determine the gold concentration DD core samples. This method was considered most suitable for determining
		gold concentrations in rock with sulphide rich material and is a total digest method. Grades above 10g/t are then determined using AAS.
		No geophysical tools, spectrometers or handheld XRF instruments have been used.
		Matrix-matched certified reference materials (sourced from Golden Grove and prepared by Ore Research Pty. Ltd.) with a wide range of values are inserted at
		a rate of 1:20 into every RC and DD to assess laboratory accuracy, precision and possible contamination. A certified blank is inserted at a rate of 1:50. Four
		Quartz flushes are inserted at the end of any significant ore horizon.
		QAQC data returned are checked against pass/fail limits once the results have been loaded into the database. QAQC data is reported quarterly and
		demonstrates sufficient levels of accuracy and precision.
		Sizing tests ensure the grind size of 85% passing 75µm is achieved.
		The laboratory performs internal QC including standards, blanks, repeats and checks.
Verification of		Significant intersections are reviewed by a senior geologist and other site geologists.
sampling and		No specific twinned holes have been drilled as a part of this program, as all core is diamond and has been orientated. However nearby drill holes show
assaying		compatible geology and results.
		Assay data is retained in text files (.SIF) and stored once loaded into the database.
		All drill core is stored for posterity at the onsite core farm.
		The database has grown as each previous owner added data to it. During the 1990’s the database was in Explorer III, a Microsoft Access™-based application.
		In 2008 the data was migrated to a Micromine Geobank™ database. Validation of data has been performed during each migration and is periodically reviewed
		against hardcopy records.
		An additional field in the results table is used to ensure all data is displayed in the appropriate units. This allows comparison of the data in standard units and
		aids in calculating Mineral Resource models.
		All re-assayed data will replace original results that failed QAQC; both results are retained in the database, with the results that failed QC being excluded from
		general use and export.
		Use of both DD and RC Historically indicates there is no significant bias between drilling methods.
		All assaydata remains in its original state and has not been adjusted.
Location of data		All underground drillhole collars are picked up by 29Metals surveyors using a Leica TS-15 (total station) with an expected accuracy of 10mm. Surface
points		exploration drillhole collars are picked up by company surveyors using a Trimble RTK R8 GPS with an expected accuracy of 40mm.

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CRITERIA COMMENTARY

• Before 2016 all drillholes were down hole surveyed gyroscopically by the drilling companies (currently Swick) once each drillhole was completed. This was tied into a starting azimuth and dip picked up off the rod string by our onsite survey department while the rig was drilling. Surveys were also carried out every 30m using an Eastman single shot camera while the hole is in progress in order to track deviation.

• From 2016 to March 2023 the Champ and Reflex north seeking tools have been utilised for both our rig alignment and surveying. Holes outside of 20 degrees dip are surveyed every 12m using the north seeking function while holes inside +/- 20 degrees are surveyed using the gyroscopic components of the tool every 30m while drilling and then at end of hole every 10m.

• Post March 2023 rig alignments have been conducted using the Minnovaire Azimuth Aligner, whilst surveying the hole has been conducted using Reflex north seeking gyro tool. Holes are surveyed using the gyroscopic components of the tool every 30m while drilling and then at end of hole every 3m.

• The accuracy and quality of historic surveys is generally unknown.

• A local grid system (GGMINE) is used. It is rotated 52.4 degrees west of MGA94 zone 50. The two-point conversion is as follows: - 10,000m is added to elevation in order to obtain Local RL

• Local Mine Grid to MGA94 Two-Point Conversion

Point	GGMINE East	GGMINE North	MGA East	MGA North
1	3644.47	10108.13	502093.5	6810260.7
2	9343.2	29162.02	490480.1	6826394.2

• Topographic measurement on most of the leases is by 1m contour generated from aerial photography, however topographic measurement within the active mine areas is by GPS with surface control point with an accuracy of 10mm.

• Data spacing and  The diamond drill hole spacing for the exploration results in this release is variable, given the early stage of resource extension drilling which is the subject of distribution this release. Further exploration drilling is required to reduce data spacing and increase geological confidence and grade continuity.

• Drill data spacing ranges from less than 10m x 10m in the active mining areas to greater 80m x 80m in exploration areas.

• The table below shows drill spacing classification by ore type.

• Drill spacing classification by ore type.

Ore Type Drill Spacing Classification Criteria	Ore Type Drill Spacing Classification Criteria
	Measured Indicated Inferred
Primary Sulphide 20 40 60
Partial Oxide Zinc 20 40 60
Partial Oxide Zinc 20 40 60
Oxide Copper 20 40 60

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CRITERIA	COMMENTARY
		Data spacing is sufficient to establish geological and grade continuity for the appropriate classification of the Mineral Resources.
		Drill holes greater than 60m x 60m may not necessarily be classified as Mineral Resources. This will be dependent on the geometry of the drill holes and the
		ore body under study.
		DD samples are not composited prior to being sent to the laboratory however the sample lengths taken by Geologists currently range from 0.5m to 1.0m.
		Underground drive mapping below the surface deposits supports understanding of geological structure and strike continuity and this data is incorporated into
		the wireframes and domains modelled for the Golden Grove Mineral Resource estimates(December 2023).
Orientation of		Drilling has mostly been oriented on sections that are orthogonal to the strike of mineralisation. Drill holes frequently overlap and are scissored as drilling is
data in relation		oriented from both footwall and hanging-wall directions. Drill holes targeting Europa have been drilled from the hanging-wall.
to geological		No significant sampling bias has been recognised due to orientation of the drilling in regard to mineralised structures.
structure
Sample security		Measures to provide sample security included: - Adequately trained and supervised sampling personnel.
		- Half-core samples placed in a numbered and tied calico sample bags.
		- Bag and sample numbers are entered into Geobank database.
		- Samples are couriered to assay laboratory via truck in plastic bulker containers.
		- Assay laboratory checks off sample dispatch numbers against submission documents and reports any inconsistencies.
		RemainingDD core is stored within the Golden Grove coreyard.
Audits or		The most recent laboratory audit was completed on 6 December 2023, while the previous one was conducted on 13 December 2022. No major concerns were
reviews		raised.
		External Competent Person (CP) and peer review processes carried out.
		An internal review of RC and DD core sampling procedures were completed in 2014. The sampling procedures were found to meet industry standards.
		In 2012 Paul Blackney and David Gray of Optiro completed a review of the Gossan Hill gold oxide data. The review found there was no historic QAQC data
		(1990 to 2000) around Gossan Hill. This has now been rectified.

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Section 2 – Reporting of Exploration Results

CRITERIA

COMMENTARY

Mineral tenement  The mineral tenement and land tenure status of the Golden Grove operations are listed in the below table. and land tenure status

TENEMENT NO.	PROSPECT NAME	EXPIRY DATE
M59/03	Scuddles	08/12/2025
M59/88	Chellews	18/05/2030
M59/89	Coorinja	18/05/2030
M59/90	Cattle Well	18/05/2030
M59/91	Cullens	18/05/2030
M59/92	Felix	18/05/2030
M59/93	Flying Hi	18/05/2030
M59/94	Bassendean	18/05/2030
M59/95	Thundelarra	18/05/2030
M59/143	Bassendean	09/05/2031
M59/195	Gossan Hill	17/05/2032
M59/227	Crescent	07/05/2033
M59/361	Badja	01/03/2037
M59/362	Badja	01/03/2037
M59/363	Badja	01/03/2037
M59/543	Walgardy	04/02/2044
M59/480	Marloo	01/07/2029

• There are no known impediments to operating in the area, but the operation is subjected to environmental conditions pertaining to land and water management, as well as adherence to cultural sensitivity pertaining to the local indigenous people.

• All tenements are 100% owned by Golden Grove Operations Pty Ltd (a wholly owned subsidiary of 29Metals Limited)

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		ASX Announcement High-grade copper intercepts extend Europa
CRITERIA		COMMENTARY
Exploration done by other parties	 	Original definition and exploration drilling was performed by Joshua Pitt, of Aztec Exploration, in 1971. From 1971 until 1992 multiple joint ventures continued the definition of the Mineral Resource, with highlights being the Scuddles, A Panel Zn, B Panel Zn, C
		Panel Zn and Cu discoveries. Parties involved include Amax Exploration, Esso Exploration, Australian Consolidated Minerals and Exxon.
		Exploration and drilling within the Golden Grove leases has been conducted on a near-continuous basis since 1991 by successive owners of Golden Grove
		Operations Pty Ltd – including, Newmont, Normandy, Oxiana, OZ Minerals, MMG, EMR Capital, and, most recently, 29Metals.
		Exploration of the Golden Grove Tenements is ongoing and being conducted by Golden Grove Operation Pty Ltd (a wholly owned subsidiary of 29Metals
		Limited).
Geology	 	The mineralisation style is volcanogenic hosted massive sulphide (VHMS) which occurs as sub-vertical lenses within layered sediments and volcanics. The Golden Grove deposits are located in the Murchison Province in the north-western part of the Achaean Yilgarn Craton in Western Australia, within the
		Yalgoo Greenstone Belt. Mineralisation occurs at the base of the Warriedar Fold Belt (“WFB”) within a sequence of felsic to intermediate volcaniclastic
		sediments, lavas and associated autoclastic breccias.
		The Golden Grove Domain that hosts the Gossan Hill and Scuddles deposits lies along the northeast flank of the WFB. The Mougooderra Fault (west),
		recrystallised monzogranite (east) and post folding granites (north and south) bound the domain. The current interpretation of the structure places the
		Golden Grove Domain on the eastern limb of a syncline. The stratigraphyhas a westerly youngingdirection and dips steeplywest.
Drill hole		Complete table of drill hole information for this announcement is listed in appendix 1 of this document.
Information
Data aggregation methods		Assay results are exported from the Geobank Database by Senior Geologists. The results are pasted into a weighted average excel spreadsheet to generate downhole grade intervals. General guidelines for weighted averages as follows:
		- Copper intersections
		o Trigger value: 0.4% Cu
		o Minimum Interval length 4m
		o Minimum grade of final composite 1.5% Cu
		o Maximum total length of waste 3m
		o Maximum consecutive length of waste 3m
		o Short high-grade intervals can only be included if they exceed a minimum grade x length of 6%m
		- Zinc intersections
		o Trigger value: 2% Zn
		o Minimum Interval length 4m
		o Minimum grade of final composite 5% Zn
		o Maximum total length of waste 3m
		o Maximum consecutive length of waste 3m
		o Short high-grade intervals can only be included if they exceed a minimum grade x length of 20%m
		Intervals with lower minimum final grades may be included in the results should they contain other base metals or precious metals in significant quantity.
		No top-cut value has been applied to any element.

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		ASX Announcement High-grade copper intercepts extend Europa
CRITERIA		COMMENTARY
Relationship between	 	All drilling reported as downhole length, true widths are estimated to range between 35-60% of down hole lengths. Host horizons are well understood with two underground mines in operation.
mineralisation		District drilling confirms mineralisation is hosted within the same stratigraphic sequence as the operating mines and no fundamental change has occurred to
widths and		the structural framework of the host sequence.
intercept lengths		Orebodies tend to strike between 0-10 degrees in mine local grid and dip between 70-90 degrees to local grid west.
Diagrams		See diagrams within the body of this report
Balanced reporting		All drilling results for activities covered in this announcement have been reported without exception within Appendix 1.
Other substantive		Geological framework for the broader leases has been developed through applying the geological model of the active mining areas along with surface
exploration data		mapping, and systematic diamond drilling.
		Sedimentary facies south of the active mines are consistent with the Golden Grove stratigraphy present at Gossan Hill and Scuddles Mines.
Further work		Future work will entail continued diamond drilling across all areas discussed in this report.

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Appendix 3: 2023 Golden Grove Mineral Resources[2]

Mineral Resources estimates

Full details of the Mineral Resources estimates contained in this Release are provided in 29Metals’ ASX announcement entitled “2023 Mineral Resources and Ore Reserves Estimates” dated 23 February 2024. 29Metals confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the relevant Mineral Resource estimates in that announcement continue to apply and have not materially changed.

The 31 December 2023 Mineral Resources estimates for Golden Grove are set out in the table below and incorporate the results of resource conversion, resource extension and grade control drilling completed since the cut-off for the previous Mineral Resources estimates for Golden Grove (31 May 2022 to 31 May 2023 for estimates other than Scuddles & Cervantes, or 31 May 2023 to 31 August 2023 for Scuddles, or 31 December 2022 to 31 August 2023 for Cervantes), depletion from production, updated resource modelling and geological interpretation, updates to the metallurgical and economic assumptions, and changes to cut-off values.

Project Area	Deposit	Category Tonnes Mt	Grade Cu Zn Au Ag Pb % % g/t g/t % 1.7 2.4 0.7 25 0.2 1.5 2.3 0.5 25 0.2 1.3 2.4 0.3 23 0.2 1.6 2.4 0.6 25 0.2 2.1 5.7 0.6 24 0.2 2.0 7.5 0.9 35 0.4 1.9 5.0 0.7 31 0.2 2.0 6.7 0.8 32 0.3 2.2 0.1 0.3 17 0.0 2.1 2.4 0.5 22 0.2 2.3 1.2 0.2 10 0.1 2.1 2.2 0.5 20 0.2 1.7 4.0 0.6 35 0.3 1.6 3.0 0.4 23 0.2 0.9 4.0 0.1 9 0.0 1.7 3.9 0.6 33 0.3	Contained Metal
				Cu Zn Au Ag Pb kt kt koz koz kt
Gossan Hill Mine	Gossan Hill Main	Measured 14.2		245 343 336 11,431 29
		Indicated 6.6		98 155 108 5,403 13
		Inferred 0.9		12 23 10 687 2
		Total 21.8		355 521 455 17,521 44
	Xantho Extended & Europa	Measured 2.2		47 128 43 1,692 4
		Indicated 5.8		119 434 165 6,498 21
		Inferred 1.5		29 78 34 1,534 4
		Total 9.6		195 640 241 9,724 29
	Hougoumont Extended & Oizon	Measured 0.0		0 0 0 1 0
		Indicated 4.7		98 111 76 3,241 8
		Inferred 1.0		24 12 7 329 1
		Total 5.7		121 123 83 3,571 9
Scuddles Mine	Scuddles	Measured 6.7		114 272 139 7,551 20
		Indicated 0.8		13 25 10 621 2
		Inferred 0.1		1 4 0 26 0
		Total 7.7		128 302 149 8,198 22

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Deposit	Category Tonnes Mt	Grade Cu Zn Au Ag Pb % % g/t g/t % - - - - - 1.8 5.0 0.7 34 0.3 1.5 5.2 0.7 34 0.2 1.7 5.0 0.7 34 0.3	Contained Metal
			Cu Zn Au Ag Pb kt kt koz koz kt
Cervantes	Measured -		- - - - -
	Indicated 4.2		73 208 88 4,576 14
	Inferred 0.9		14 48 21 1,023 2
	Total 5.1		87 256 109 5,599 16

Project Area	Deposit	Category Tonnes Mt	Grade Cu Zn Au Ag Pb % % g/t g/t % 0.2 5.2 0.3 10 0.0 1.0 6.5 0.7 13 0.1 1.1 4.8 0.5 24 0.2 1.1 5.7 0.6 18 0.1 - - - - - 1.1 7.2 0.5 15 0.2 1.2 2.8 0.5 19 0.1 1.1 6.6 0.5 15 0.2 4.5 2.3 1.4 91 0.9 1.6 2.1 1.5 81 0.5 0.5 3.2 1.5 81 0.5 1.9 2.4 1.5 83 0.6 - - - - - - - - - - 1.8 2.0 0.5 17 0.0 1.8 2.0 0.5 17 0.0 0.7 2.0 2.2 97 0.4 - - - - -	Contained Metal
				Cu Zn Au Ag Pb kt kt koz koz kt
Gossan Valley Deposits	Gossan Valley, Felix, & Conteville	Measured 0.0		0 0 0 0 0
		Indicated 2.8		28 180 64 1,196 3
		Inferred 2.6		29 128 42 2,006 5
		Total 5.4		57 308 107 3,202 8
	Grassi	Measured -		- - - - -
		Indicated 1.4		15 103 21 675 3
		Inferred 0.2		3 6 4 138 0
		Total 1.7		18 109 24 813 3
Other	Oxide	Measured 0.2		9 5 9 585 2
		Indicated 0.7		11 14 31 1,700 4
		Inferred 0.3		1 8 12 653 1
		Total 1.1		21 26 52 2,939 7
	Flying Hi	Measured -		- - - - -
		Indicated -		- - - - -
		Inferred 1.0		18 20 17 526 0
		Total 1.0		18 20 17 526 0
	Surface Stockpiles	Measured 0.2		2 4 15 653 1
		Indicated -		- - - - -

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	Inferred - - - - - - Total 0.2 0.7 2.0 2.2 97 0.4 Measured 23.6 1.8 3.2 0.7 29 0.2 Indicated 27.0 1.7 4.6 0.6 28 0.3 Inferred 8.6 1.5 3.8 0.5 25 0.2 Total 59.2 1.7 3.9 0.7 28 0.2	- - - - -
		2 4 15 653 1
Total		417 753 542 21,913 57
		455 1,229 563 23,910 68
		131 326 147 6,922 15
		1,002 2,309 1,252 52,745 139

Note , estimates reported in the table above, other than silver, are rounded to one decimal place. Estimates for silver are rounded to zero decimal places.

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