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GEOPACIFIC RESOURCES LTD AGM Information 2026
65008_rns_2026-05-27_ba5c2136-5858-4933-b9b5-9fdbd9959390.pdf
AGM Information
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ASX: GPR
28 May 2026
GEOPACIFIC
RESOURCES LIMITED
AGM Update
Woodlark Gold Project Presentation and Argonaut Initiates Research
Geopacific Resources Limited (ASX: GPR) (Geopacific, the Company) is pleased to release the presentation to be made by the Managing Director, Hamish Bohannan, at the Annual General Meeting to be held today.
The Definitive Feasibility Study (DFS) for the 100% owned 1.98 Moz¹ Woodlark Gold Project (Woodlark, the Project) in Papua New Guinea (PNG) was announced on 20 May 2025². The DFS confirms Woodlark as a technically robust, economically attractive, long-life open pit gold development, forecast to generate strong free cash flow and rapid capital payback.
In the presentation, the managing director refers to the research report completed by Argonaut titled “Geopacific Resources (GPR) -100kozpa developer approaching FID – Initiating Coverage”. A copy of the Argonaut research report will be made available on the Geopacific website www.geopacific.com.au.
This ASX announcement was approved and authorised for release by Hamish Bohannan.
| Company details | Board & Management | Projects |
|---|---|---|
| Geopacific Resources Limited | Rowan Johnston Non-Executive Chairman | PAPUA NEW GUINEA |
| ACN 003 208 393 | Hamish Bohannan Managing Director | Woodlark Island Gold |
| ASX Code: GPR | Graham Ascough Non-Executive Director | |
| [email protected] | Michael Brook Non-Executive Director | |
| http://www.geopacific.com.au | Hansjoerg Plaggemars Non-Executive Director | |
| T +61 8 6143 1820 | Matthew Smith CFO and Company Secretary | |
| HEAD OFFICE | ||
| Level 1, 278 Stirling Highway | ||
| Claremont WA 6010. | ||
| PO Box 439, Claremont WA 6910. |
¹ Refer ASX Announcement dated 20 May 2026 “DFS Confirms Robust Economics for the Woodlark Gold Project”.
² Refer ASX announcement 20 May 2026 “DFS Confirms Robust Economics for the Woodlark Gold Project” for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information. GPR confirms that all material assumptions underpinning the Production Target and Forecast Financial Information derived from the Production Target continue to apply and have not changed materially.
GEOPACIFIC RESOURCES LIMITED
Additional Information
Woodlark Mineral Resource Estimate
Refer to GPR's ASX Announcement dated 20 May 2026 titled "Increased Mineral Resource and New Ore Reserve Underpin the Woodlark DFS" for further details, including JORC³ Tables.
The total Woodlark Mineral Resource hosts 70.1 Mt at 0.88 g/t Au for 1.98 Moz Au. A breakdown of the Woodlark Mineral Resource by JORC classification is outlined in the table below and estimated using a cut-off grade of 0.3 g/t Au for Kulumadau, Busai and Woodlark King and 0.4 g/t Au for Great Northern, Wayai Creek and Munasi.
| Category | Tennes* (Million) | Grade (g/t Au) | Contained Ounces ('000 oz Au) |
|---|---|---|---|
| Measured | 2.3 | 3.00 | 216 |
| Indicated | 59.7 | 0.80 | 1,529 |
| Inferred | 8.2 | 0.86 | 232 |
| Total | 70.1 | 0.88 | 1,978 |
*Tonnages are dry metric tonnes. Minor discrepancies may occur due to rounding.
The Company confirms that it is not aware of any new information, or data, that materially affects the information included, and that all material assumptions and technical parameters underpinning the estimate continue to apply and have not changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Woodlark Ore Reserve Estimate
Refer to GPR's ASX Announcement dated 20 May 2026 titled "Increased Mineral Resource and New Ore Reserve Underpin the Woodlark DFS" for further details, including JORC Tables⁴.
The Woodlark Ore Reserve hosts 34.3 Mt at 1.09 g/t Au for 1.2 Moz of gold. A breakdown of the Woodlark Ore Reserve estimate by JORC classification is outlined in the table below and estimated using a cut-off grade of 0.4 g/t Au.
| Deposit | Classification | Tennes (Million) | Diluted Grade (g/t Au) | Contained Ounces ('000 oz Au) |
|---|---|---|---|---|
| Kulumadau | Proved | 0.5 | 4.26 | 69 |
| Probable | 14.5 | 1.13 | 528 | |
| Sub-Total | 15.0 | 1.24 | 597 | |
| Busai | Proved | 1.8 | 2.06 | 118 |
| Probable | 14.2 | 0.86 | 393 | |
| Sub-Total | 16.0 | 1.00 | 511 | |
| Woodlark King | Proved | - | - | - |
| Probable | 3.3 | 0.83 | 88 | |
| Sub-Total | 3.3 | 0.83 | 88 | |
| 2006 Ore Reserve Total | Proved | 2.3 | 2.54 | 187 |
| Probable | 32.0 | 0.98 | 1,009 | |
| Total | 34.3 | 1.09 | 1,196 |
- Tonnages are dry metric tonnes. Minor discrepancies may occur due to rounding.
³ Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code, 2012 Edition. Prepared by: The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC)
⁴ Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code, 2012 Edition. Prepared by: The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC)
GEOPACIFIC RESOURCES LIMITED
Competent Persons Statement
The information in this announcement that relates to Mineral Resources is based on and fairly represents information and supporting documentation compiled by Chris De-Vitry MEconGeol, a full-time employee of Manna Hill Geoconsulting Pty Ltd and a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM Membership No. 210853).
Chris De-Vitry has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC 2012). Chris De-Vitry consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.
This Mineral Resource estimate has been compiled in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012 Edition).
The information in this announcement that relates to Ore Reserves is based on and fairly represents information and supporting documentation compiled by Michael Wood BEng (Mining Engineering), a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM Membership No. 225408).
At the time of preparing the Ore Reserve estimate Michael Wood was a full-time employee of AMC Consultants Pty Ltd. Michael Wood has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC 2012). Michael Wood consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.
This Ore Reserve estimate has been compiled in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012 Edition).
GEOPACIFIC
RESOURCES LIMITED
AGM Update on Woodlark Gold Project
Technically robust, long-life gold project with strong free cash flow and rapid payback.
May 2026 (ASX: GPR)
Disclaimer and Competent Persons Statement
GEOPACIFIC RESOURCES LIMITED
This presentation is for information purposes only. This presentation does not constitute financial product advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or needs and the opinions and recommendations herein are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.
Competent Person's Statement: The information in this presentation that relates to Mineral Resources is based on and fairly represents information and supporting documentation compiled by Chris De-Vitry MEconGeol, a full-time employee of Manna Hill Geoconsulting Pty Ltd and a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM Membership No. 210853). Chris De-Vitry has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in JORC 2012. Chris De-Vitry consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. This Mineral Resource estimate has been compiled in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012 Edition).
The information in this presentation that relates to Ore Reserves is based on and fairly represents information and supporting documentation compiled by Michael Wood BEng (Mining Engineering), a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM Membership No. 225408). At the time of preparing the Ore Reserve Estimate Michael Wood was a full-time employee of AMC Consultants Pty Ltd. Michael Wood has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in JORC 2012. Michael Wood consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. This Ore Reserve estimate has been compiled in accordance with the guidelines defined in JORC 2012.
Geopacific confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters in the market announcements continue to apply and have not materially changed. Geopacific confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Forward Looking Statements: All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Geopacific Resources Limited are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects' or 'intends' and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the company, its directors and management of Geopacific Resources Ltd that could cause Geopacific Resources Limited's actual results to differ materially from the results expressed or anticipated in these statements.
Geopacific Resources Ltd cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Geopacific Resources Ltd does not undertake to update or revise 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 announcement, except where required by applicable law and stock exchange listing requirements. Woodlark is permitted by the PNG Government, subject to meeting the conditions of the licence.
Non-IFRS Financial Information: Investors should also be aware that certain financial data included in this presentation may be 'non-IFRS financial information' under Regulatory Guide 230 Disclosing non-IFRS financial information published by ASIC. The Company believes this non-IFRS financial information provides useful information to users in measuring the financial performance and condition of the Company. The non-IFRS financial information does not have a standardised meaning prescribed by Australian Accounting Standards and, therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with Australian Accounting Standards. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial information and ratios (if any) included in this presentation.
Corporate Snapshot
GEOPACIFIC
RESOURCES LIMITED
Capital Structure
| Market capitalisation¹ | $161 million |
|---|---|
| Shares on issue | 3,227,261,998 |
| Options/Performance Rights | 88,141,660 |
| Cash & Term Deposits 31 March 2026² | $14 million |
- Based on the closing share price of A$0.05 on 22 May 2026.
- Includes cash equivalents of A$4.99 million and A$8.98 million in term deposits.
- Refer to GPR ASX release 1 May 2026 "Leadership Transition Positions Geopacific for Development".
- Figures obtained from the latest substantial holder notices and most recent annual report as at the date of this presentation.
Board and Management
| Rowan Johnston | Non-Executive Chairman |
|---|---|
| Hamish Bohannan | Managing Director |
| Graham Ascough | Non-Executive Director |
| Hansjoerg Plaggemars | Non-Executive Director |
| Michael Brook | Non-Executive Director |
| Matthew Smith | Chief Financial Officer |
Board and Management re-set to support Project development³
- Deutsche Balaton 47%
- St Barbara Limited 14%
- Franklin Resources 6%
- Other Shareholders 32%
G
GEOPACIFIC
RESOURCES LIMITED
PNG Snapshot & Woodlark Island Project Location
PAPUA NEW GUINEA
- ☑ Pro-mining jurisdiction with a long & successful mining history
- ☑ Significant regional gold endowment & many world-class mines
- ☑ Island mining well established with stable environment at Woodlark
- ☑ Supportive PNG Government environment, current 2.5% royalty levy
- ☑ Australia, a major trade partner is <2 hrs flight
WOODLARK ISLAND
- ☑ Woodlark Island is located 600km east of Port Moresby in the Milne Bay Province
- ☑ The island is 65km by 25km with an area of 850km²
- ☑ Access via air and sea - established landing strip and barge facilities
- ☑ Population: 8,000+
- ☑ Languages: Muyuw (Local), English & Melanesian Pidgin
- ☑ Commercial activities include gold exploration and logging
2026 DFS – Project Overview¹
GEOPACIFIC
RESOURCES LIMITED
Long-Life, Robust Production Profile
- 12-year open pit mining operation across Kulumadau, Busai & Woodlark King
- Total gold production: 1.1 Moz | Avg annual: 100 koz | Peak: 117 koz
- Average gold recovery: 89.7%
- Production schedule prioritises near-surface high-grade material
- Forecast to generate early cash flow and rapid Project payback
High Reserve Confidence²
- JORC 2012 Ore Reserve³: 34.3 Mt at 1.09 g/t for 1.2 Moz Au
- 96% of mined material underpinned by Measured & Indicated Resources
- First 3 years ~99% M&I informs the mine plan – de-risks capital recovery
Key Project Approvals in Place
- Granted Mining Lease ML 508, pathway for variation of Condition 7(ii)
- Approved Environment Permit
- Executed landowner agreements
Significant Learnings and Higher Gold Price
- The 2020 Woodlark Project Execution Update⁴ assumed ~A$255 million in establishment capital which proved insufficient
- November 2020 Gold Price was ~A$2,400/oz versus May 2026 ~A$6,400/oz
KEY PROJECT PHYSICALS
| Parameter | DFS Base Case |
|---|---|
| Mine life (including pre-strip period) | 12 years |
| Open-pit material processed | 35.6 Mt |
| Gold head grade | 1.07 g/t |
| Strip ratio (waste:ore) | 5.2 |
| Plant throughput | 3.5 Mtpa |
| Avg gold recovery | 89.7% |
| Total gold produced | 1.1 Moz |
| Average annual gold production - LoM | 100 koz Au |
| Average annual gold production – Years 1–5 | 109 koz Au |
- Refer ASX announcement 20 May 2026 "DFS Confirms Robust Economics for the Woodlark Gold Project" for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information. GPR confirms that all material assumptions underpinning the Production Target and Forecast Financial Information derived from the Production Target continue to apply and have not changed materially.
- Refer ASX announcement 20 May 2026 "Increased Mineral Resource and New Ore Reserve Underpin the Woodlark DFS" for details in relation to the Mineral Resource and Ore Reserve.
- The 2026 Ore Reserve is based on Measured and Indicated Mineral Resources from each of the three respective deposits, contained within mine designs and above an economic 0.4 g/t gold cut-off.
- Refer ASX announcement 30 November 2020 "Woodlark Gold Project Execution Update"
2026 DFS – Key Forecast Financial Information¹,²
GEOPACIFIC
RESOURCES LIMITED
A$1.3 Billion
Post-tax NPV% at A$5,500/oz gold price
50.6%
Post-tax IRR
resilient economics
18-month
Post-tax Payback Period
from first production
A$1,966/oz
All-in Sustaining Cost
forecast LOM average
- Refer ASX announcement 20 May 2026 "DFS Confirms Robust Economics for the Woodlark Gold Project" for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information.
- The cashflow is for the period post-FID, at a project level and unlevered. FID is assumed in December 2026.
Capital Cost Summary 1
GEOPACIFIC
RESOURCES LIMITED
A$535M
Pre-Production Capital
Incl. contingency & pre-strip
A$57M
Sustaining Capital
Incl. closure costs
A$592M
Total LOM Capital
All-in
A$485 /oz
Capital Intensity
Reflects island location
PRE-PRODUCTION CAPITAL ±15% Level of Accuracy
| Capital Area | A$/M |
|---|---|
| Process Plant EPC and DSTP | 274.8 |
| Non-Process Infrastructure | 92.5 |
| Owners Construction Costs | 89.1 |
| Owners Contingency | 38.5 |
| Mining Pre-Strip | 39.8 |
| Total Pre-Production Capital* | 534.6 |
| Sustaining Capital | 46.0 |
| Closure Costs | 10.9 |
| Total Life of Mine Capital* | 591.5 |
- Category totals may not add due to rounding.
KEY CAPITAL NOTES
- Capital costs reflect the island location
- Allowances included for logistics, establishment of a new wharf facility, camp and owner's cost
- Process plant costs based on an EPC execution approach.
- DSTP designed to comply with existing environmental approvals, PNG regulatory requirements and EQUATOR Principles
-
Total contingency allowance of A$56.9M across Owners' contingency of A$38.5M and A$18.4M of Contractors' contingency
-
Refer ASX announcement 20 May 2026 "DFS Confirms Robust Economics for the Woodlark Gold Project" for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information.
Operating Cost Summary¹
GEOPACIFIC RESOURCES LIMITED
A$1,966/oz
All-in Sustaining Costs (AISC)
LOM average
A$25.28
Mining Cost
Per tonne ore
A$28.62
Processing and G&A Cost
Per tonne ore
A$33/oz
Silver Credit
525 koz Ag recovered over LOM
UNIT COST BREAKDOWN ±15% Level of Accuracy
| Cost | A$/oz Au |
|---|---|
| Mining | 817.20 |
| Processing | 607.93 |
| G&A | 317.23 |
| Royalties | 138.08 |
| Transport & Refining | 9.59 |
| Silver Credit | (32.96) |
| C1 Costs | 1,857.07 |
| Corporate Costs | 56.98 |
| Sustaining Capital | 41.75 |
| Mine Closure | 9.86 |
| AISC | 1,965.66 |
KEY OPERATING COST NOTES
- Operating cost estimate includes estimates for mining, processing and general and administration (G&A) costs, PNG Government Royalties and allowances for transport/refining of gold doré
- Operating costs developed on a first principles basis
- Mining costs based on a contract mining execution approach, inclusive of an 8% contractor margin applied across labour, equipment ownership, consumables, and maintenance costs
-
Processing costs include all plant consumables, maintenance, wear items, process labour and freight
-
Refer ASX announcement 20 May 2026 "DFS Confirms Robust Economics for the Woodlark Gold Project" for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information.
Key Project Locations
GEOPACIFIC
RESOURCES LIMITED
The 2026 DFS reflects an improved site layout including a new Plant location and a streamlined Project footprint
Processing – CIL Flowsheet
GEOPACIFIC
RESOURCES LIMITED
Simple conventional CIL process to pour gold doré on site with expected gold recoveries of 89.7%
- Free-milling gold, straightforward processing route, well-understood metallurgy
- Plant design by GR Engineering
- Overall LOM average gold recovery of 89.7%
- Gravity gold recovery 45%
- Overall LOM average silver recovery of 60.1%
- Primary grind P80 106 µm
- BWi 17.4 kWh/t
- Leach residence time 24 hours at 42% solids
- Low reagent usage
- Gold doré poured onsite
Mining Lease & State Participation
GEOPACIFIC
RESOURCES LIMITED
ML 508 already granted and held 100% by wholly owned subsidiary Woodlark Mining Limited
- Licenses held cover the central and western portions of Woodlark Island
- Adjoining tenements for Mining Purpose and Mining Easements (not shown)
- LMP 89, LMP 90, LMP 91, LMP 92, LMP 93, ME 85, ME 105, and ME 111
- ML 508 Condition 7(ii), extended to October 2027
- Environmental Licence amendments approved in March 2026 for revised plant throughput and site layout
Key Local Issues Currently Being Addressed
GEOPACIFIC
RESOURCES LIMITED
Discussions underway to amend Condition 7(ii) of ML 508
- ML 508 has a 20-year term, expiring in 2034
- Framework allows for Mining Leases to be extended in 10-year increments
- Extension typically prepared towards the end of the Mining Lease term
- Condition 7(ii) of ML 508 requires completion of construction by 5 October 2027
- Application for variation to be lodged post DFS
- This has been varied by GPR before
- There is a memorandum of understanding in place with the State to acquire a 5% stake in the Project
- The PNG State may take up to 30% of resource projects
Next Steps – Pathway to Production
GEOPACIFIC
HOSPITALS LIMITED
| | Final Investment Decision (FID)
Target FID in December 2026, with first gold in November 2028 | |
| --- | --- | --- |
| | Early works including the upgrade of site access
Establish all weather roads to support construction and mining in this high rainfall area | |
| | Complete village relocation
196 completed - 53 buildings left to build to be completed before the commencement of mining | |
| | Project financing
Complete financing with debt, equity, streaming and strategic partners | |
| | PNG approvals
ML 508 & Environmental Permit in place, amendments to reflect project development timeline | |
| | Advance Project Execution
Finalise contracting structures, procurement requirements, technical design work & FEED | |
Investment Summary
GEOPACIFIC
RESOURCES LIMITED
Development-Ready, Long-life Project in Established Mining Jurisdiction
- Extensive technical work completed
- DFS completed, demonstrating robust project economics
- Financing and strategic partnership discussions progressing
Robust Mineral Resource underpinning Ore Reserves
- 1.98 Moz Mineral Resource Estimate; 88% Measured and Indicated
- 97% of the Production Target underpinned by Measured and Indicated Mineral Resources
- 1.2 Moz Ore Reserve
Strong Project Economics¹
- Woodlark is technically robust and is forecast to generate substantial free cash flow over the life of mine with 18-month payback
- Strong Post-tax NPV₈% A$1.3B and IRR 51% at A$5,500/oz gold price – significant leverage to higher prices
- Conventional open cut mining and CIL processing forecast to deliver strong margins
Substantial Exploration Upside
- Extensive underexplored mineralised system
- Pipeline of near-mine targets with potential to extend mine life and regional exploration program targeting new discoveries
- Untested large-scale Cu-Au porphyry potential
Woodlark will be a near term gold operation with attractive margins and significant upside through resource conversion and growth
- Refer ASX announcement 20 May 2026 "DFS Confirms Robust Economics for the Woodlark Gold Project" for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information.
GEOPACIFIC
RESOURCES LIMITED
https://geopacific.com.au/
This presentation has been approved for release by the Board of Geopacific Resources Limited
GEOPACIFIC RESOURCES LIMITED
Appendices
Additional Information
16
Woodlark Exploration Overview
GEOPACIFIC RESOURCES LIMITED
- 529 km² 100% owned ML & ELs
- GPR are the only commercial explorers / miners on Woodlark Island
- <20% of tenure comprises outcropping host lithologies
- Deposits remain open, with significant potential to continue under cover
- Historically limited exploration outside of known areas; numerous areas to follow-up
- Leveraging knowledge from multiple generations of detailed exploration and historic high-grade mining operations
- Untested large-scale Cu-Au porphyry potential
Mine Plan¹
GEOPACIFIC
RESOURCES LIMITED
Annual Mining Tonnage by Deposit
- Refer ASX announcement 20 May 2026 “DFS Confirms Robust Economics for the Woodlark Gold Project” for full details and a Cautionary Statement in relation to the 2026 DFS and the associated Production Target and Forecast Financial Information.
18
Woodlark Mineral Resources & Ore Reserves
GEOPACIFIC
RESOURCES LIMITED
MINERAL RESOURCE ESTIMATE 1,2
| Deposit | Resource Category | Tonnes (Million) | Grade (g/t Au) | Contained Ounces ('000 oz Au) |
|---|---|---|---|---|
| Kulumadau | Measured | 0.5 | 5.52 | 95 |
| Indicated | 28.9 | 0.84 | 780 | |
| Inferred | 1.1 | 0.84 | 29 | |
| Sub-Total | 30.5 | 0.92 | 905 | |
| Busai | Measured | 1.7 | 2.20 | 121 |
| Indicated | 24.3 | 0.77 | 603 | |
| Inferred | 0.6 | 0.75 | 16 | |
| Sub-Total | 26.7 | 0.86 | 739 | |
| Woodlark King | Measured | - | - | - |
| Indicated | 6.4 | 0.71 | 146 | |
| Inferred | 1.7 | 0.61 | 33 | |
| Sub-Total | 8.1 | 0.69 | 180 | |
| 2026 MRE Total | Measured | 2.3 | 2.99 | 216 |
| Indicated | 59.6 | 0.80 | 1,529 | |
| Inferred | 3.4 | 0.71 | 78 | |
| Sub-Total | 65.3 | 0.87 | 1,824 | |
| Great Northern | Inferred | 0.8 | 1.53 | 37 |
| Sub-Total | 0.8 | 1.53 | 37 | |
| Wayai Creek | Inferred | 2.0 | 1.04 | 66 |
| Sub-Total | 2.0 | 1.04 | 66 | |
| Munasi | Inferred | 2.0 | 0.79 | 51 |
| Sub-Total | 2.0 | 0.79 | 51 | |
| Combined Mineral Resources | Measured | 2.3 | 3.00 | 216 |
| Indicated | 59.7 | 0.80 | 1,529 | |
| Inferred | 8.2 | 0.86 | 232 | |
| Total | 70.1 | 0.88 | 1,978 |
ORE RESERVE ESTIMATE 1,3
| Deposit | Classification | Tonnes (Million) | Diluted Grade (g/t Au) | Contained Ounces ('000 oz Au) |
|---|---|---|---|---|
| Kulumadau | Proved | 0.5 | 4.26 | 69 |
| Probable | 14.5 | 1.13 | 528 | |
| Sub-Total | 15.0 | 1.24 | 597 | |
| Busai | Proved | 1.8 | 2.06 | 118 |
| Probable | 14.2 | 0.86 | 393 | |
| Sub-Total | 16.0 | 1.00 | 511 | |
| Woodlark King | Proved | - | - | - |
| Probable | 3.3 | 0.83 | 88 | |
| Sub-Total | 3.3 | 0.83 | 88 | |
| 2026 Ore Reserve Total | Proved | 2.3 | 2.54 | 187 |
| Probable | 32.0 | 0.98 | 1,009 | |
| Total | 34.3 | 1.09 | 1,196 |
- Refer ASX announcement 20 May 2026 "Increased Mineral Resource and New Ore Reserve Underpin the Woodlark DFS" for full details including JORC tables
- Estimated using a cut-off grade of 0.3 g/t Au for Kulumadau, Busai and Woodlark King and 0.4 g/t Au for Great Northern, Wayai Creek and Munasi
- The 2026 Ore Reserve is based on Measured and Indicated Mineral Resources from each of the three respective deposits, contained within mine designs and above an economic 0.4 g/t gold cut-off