GREAT DIVIDE MINING LTD — Capital/Financing Update 2025

May 15, 2025

ASX Release

16 May 2025

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GDM meets operating requirements for Challenger Mine restart

Great Divide Mining Ltd (the Company or GDM ) (ASX:GDM), a Queensland gold, copper, antimony and critical metals miner, explorer and developer, is pleased to announce that it is now in a position to commence at the Challenger Mine Site, in Adelong NSW.

Highlights:

• Following site preparations and inspections the Challenger Gold Mine is considered suitable for the safe recommencement and operation of processing activities.

• GDM can commence commissioning to restart the Challenger process plant

• Operations towards production of First Gold will commence this month.

Chief Executive Officer, Justin Haines, commented:

“This is another big step in GDM’s journey to evolve from a gold explorer to an explorer and producer. The production of gold from the Challenger mine is not only historically significant but will deliver to GDM its’ first revenue stream.

“Operations towards production of First Gold will commence this month.

“GDM will continue to improve the plant and other operating areas of the Challenger site to ensure it meets and exceeds the operational standards.

ASX release authorised by the Board of Great Divide Mining Ltd.

For further information:

Justin Haines

Chief Executive Officer e: justin.haines@greatdividemining.com.au

Great Divide Mining Ltd ACN 655 868 803 GPO Box 154 Brisbane QLD 4001 greatdividemining.com.au

About Great Divide Mining Ltd (ASX: GDM)

Great Divide Mining is a Gold, Antimony and critical metals miner, explorer and developer with five projects across 17 tenements (including two in application). GDM’s focus is on operating producing assets within areas of historical mining and past exploration with nearby infrastructure, thus enabling rapid development. Through a staged exploration and development programme, GDM intends to generate cash flow from its initial projects to support further exploration across its portfolio of highly prospective tenements.

Forward-Looking Statements

This announcement may contain forward-looking information about the Company and its operations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements.

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