MANUKA RESOURCES LTD. — Earnings Release 2022

Aug 11, 2021

ASX Announcement 12 August 2021 ASX: MKR

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Record Performance for July Expected to Continue

Manuka is pleased to announce a record month of gold production and profitability, from its Mt Boppy operation.

Following completion of its July management accounts, Manuka is pleased to advise that it has started the September Quarter very strongly, achieving a record monthly result on a number of fronts.

Sales Revenues (a record) Gold sold Silver sold	AUD 5.8 million 2,378 oz 2,061 oz
Total costs (including finance and corporate overhead)	AUD 3.86 million
Monthly profit (a record)	AUD 1.75 million

After experiencing some weather delays in the June quarter, the September quarter has started very well with record production and profit achieved in July.

The board believes this momentum should continue to the end of December following which time the Company will switch to silver production from the ROM stockpile at Wonawinta.

Increased grades of ore now processed through the plant, together with the mining and haulage efficiencies gained since commencement of operations, will contribute to the economical recovery of an expected additional 10,000oz Au from the existing pit-shell at Mt Boppy compared to the estimate made at the time of the IPO.

Following four consecutive Mt Boppy exploration programs all intersecting spectacular grades, exploration at Mt Boppy will continue while production is operating. Manuka has a geophysics program planned to commence in August 2021 to be followed by drilling of identified targets in mid-September.

After switching from gold to silver production, now only likely to occur in early 2022, silver production will commence with the processing of 515,000 tonnes of stockpiles already mined and existing at the Wonawinta Plant. This stockpile grades 70g silver/t and is included in the Company’s JORC Resource statement[1] . It is important to note that there is no mining

1 ASX 1 April 2021

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61 412 268114 www.manukaresources.com.au

cost associated with these stockpiles, only a processing cost which includes site admin and crushing and is currently estimated at A$35/t.

This will be followed by the processing of a further 200,000 tonnes of stockpiles that are also close to the plant. Once all the stockpiles have been processed, Manuka expects to commence mining its existing silver resource.

Manuka’s Executive Chairman, Dennis Karp, commented : We are very pleased with how the current Quarter has started. This is a very strong operational and financial performance, demonstrating the dual impact on gold production and profitability of steadystate production coupled with good grades. As outlined previously, we increased our trucking fleet during July which has increased the size of the gold ore stockpile at our Wonawinta plant. This provides greater certainty around steady monthly production.

We expect all of the remaining five months of gold production to be of similar profitability.

About Manuka

Manuka Resources Limited (ASX: MKR) is an Australian mining and exploration company located in the Cobar Basin, central west New South Wales. It is the 100% owner of two fully permitted gold and silver projects which include the following:

• Mt Boppy Gold mine and neighbouring tenements. The Mt Boppy project is currently in production and processing its gold ore through the Company’s processing plant at Wonawinta.

• Wonawinta silver project, with mine, processing plant and neighbouring tenements. The Wonawinta processing plant has a nameplate capacity of 850,000 tonnes per year.

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This announcement has been approved for release by the Board of Directors of Manuka Resources Limited.

For further information contact: Dennis Karp Media Contact

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61 412 268114 www.manukaresources.com.au

Executive Chairman Manuka Resources Limited 0412 268 114

Angela East M+C Partners 0428 432 025

Important Information

This report includes forward-looking statements and comments about future events, including the Company’s expectations about the performance of its businesses. Forward-looking words such as “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” or other similar expressions are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward-looking statement. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this report to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. No Limited Party or any other person makes any representation, or gives any assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in the report will occur.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61 412 268114 www.manukaresources.com.au