29METALS LIMITED — Capital/Financing Update 2025

Nov 11, 2025

ASX ANNOUNCEMENT

Wednesday, 12 November 2025

Gossan Valley Mining Contract Award

29Metals Limited (‘ 29Metals ’ or, the ‘ Company ’) today announced the award of a four-year underground mining contract to Byrnecut Australia Pty Ltd (‘ Byrnecut ’) for the Gossan Valley mine at Golden Grove, following a competitive mining contract tender process.

As the incumbent mining contractor for the Gossan Hill and Scuddles mines at Golden Grove, the Gossan Valley contract award to Byrnecut enables operational and commercial synergies, which include the ability to share equipment and personnel across Golden Grove mining operations.

The Gossan Valley project remains on track for first ore by end of 2026. When in production, Gossan Valley is expected to enhance the Golden Grove life-of-mine plan by providing: a replacement, higher grade, ore source for declining Scuddles ore production; mining simplicity as an independent and relatively shallow mining front; and potential to extend Gossan Valley Mineral Resources estimates[1] , which remain open at depth.

Commenting on today’s announcement, Chief Executive Officer, James Palmer, said:

“The award of the mining contract is another significant milestone towards achieving first ore from Gossan Valley by end of 2026.

As the second highest grade Ore Reserve behind Xantho Extended, development of Gossan Valley optimises Golden Grove’s life-of-mine production profile and enhances overall production flexibility as a relatively shallow and independent mining front.

After a competitive tender process, we are pleased to be advancing the Gossan Valley project with Byrnecut, who as the incumbent mining contractor at Gossan Hill and Scuddles, enable opportunities for operational and commercial synergies across mining operations at Golden Grove.”

- 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

1 In this announcement, references to Mineral Resources and Ore Reserves estimates are references to those estimates contained in 29Metals’ 31 December 2024 Mineral Resources and Ore Reserves estimates, including Competent Person’s statements and JORC Code Table 1 disclosures, released to the ASX announcements platform on 26 February 2025 and 28 February 2025.

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