2026 Tunkillia Development Drilling Programs Begin

Core Insights - Barton Gold Holdings Limited is advancing its Tunkillia Gold Project with a compelling development plan outlined in the Optimised Scoping Study (OSS) [1] - The project is expected to produce approximately 120,000 ounces of gold and 250,000 ounces of silver annually, with a total operating cash flow of around A$2.7 billion over its life of mine (LoM) [1] - The Net Present Value (NPV) at a 7.5% discount rate is estimated at A$1.4 billion, with an Internal Rate of Return (IRR) of approximately 73.2% and a payback period of about 0.8 years [1] Project Development - Barton is expediting the Tunkillia project towards a Mining Lease (ML) application, with current gold and silver prices exceeding A$1,500/oz and A$50/oz respectively, which are higher than the prices used in OSS revenue estimates [1] - A water drilling program of approximately 900 meters has commenced to identify potential new water sources near the OSS open pits [1] - A second phase of reverse circulation (RC) resource upgrade drilling, totaling around 28,000 meters, is set to begin in March 2026, alongside approximately 3,000 meters of resource, geotechnical, and metallurgical diamond drilling [1] Future Plans - The company aims to target JORC (2012) Ore Reserves, complete a pre-feasibility study (PFS), and submit the ML application by the end of 2026 [1]