Emerald Resources NL

Emerald Resources is pleased to announce that following an extensive and collaborative process with Cambodian government ministries and agencies, the Memot Gold Project is now fully permitted for development and operation following receipt of the Memot Mineral Investment Agreement and Industrial Mining Licence. In addition to securing full permitting for the Memot Gold Project, Emerald has also received an extension to the Okvau Gold Mine Mineral Investment Agreement, allowing for the importation of equipment to support upcoming underground development activities. This extension reflects the strong ongoing support from the Royal Government of Cambodia for the Company’s current operations and planned expansion of mining activities. Securing both the Memot MIA and Memot IML marks a major milestone for the Project and is a testament to the constructive and thorough collaboration Emerald has had with the various government ministries and agencies. Together with the Okvau MIA Extension, the Royal Government of Cambodia has demonstrated their strong and ongoing support for the Company's current operations and planned expansion of mining activities which underpin Emerald's growth strategy of becoming a multi-mine, +300kozs per annum gold producer.

Emerald Resources can report for the September 2025 Quarter that the 100% owned Okvau Gold Mine produced 22,035oz of gold with 23,249oz poured with All-In Sustaining costs (AISC) of US$1,186/oz. As noted previously production was below guidance primarily due to heavy rainfall late in the Quarter. Despite the lower production for the Quarter, cash generation from operations of A$82.2M (US$53.8M) near equals December 2024’s record for financial performance (ounces: 31.9Koz, A$89.3M (US$58.4M)). Guidance for FY2026 remains unchanged at 105Koz – 120Koz with AISC in line with life of mine US$966/oz. Mining continued to perform in line with the schedule. Process plant availability was high at 98% with 605,133 dry tonnes of ore processed with an average head grade of 1.37g/t and gold recovery of 82.8%. Gold sales for the Quarter were 23,268oz of gold at an average gold price of US$3,486/oz for proceeds of US$81.1M.   At 30 September 2025 the Company had cash, bullion and investments on-hand of A$303.6M (US$200.4M).   The Company’s Resources update released during the Quarter reported significant gold resources growth across both the Memot and the Dingo Range Gold Projects for a total additional 670k ounces gold. This represents a 30% and 35% increase respectively. Mineralisation remains open along strike and continues at depth, constrained only by the extent of drilling completed to date. The feasibility studies and permitting activities are progressing across both projects in preparation for the commencement of development. Importantly, in-principle approval has been received from the Council of Ministers (Sor Chor Nor) for the issue of the Industrial Mining Licence and Mineral Investment Agreement to support the Memot Gold Project’s development.   The Company has progressed the Definitive Feasibility Study at the Dingo Range Gold Project along with licensing of the project to support the development decision. Activities during the Quarter included installation of the 256-room camp and associated infrastructure to support development and operations nearing completion. The second stage of the Company’s Phnom 1500 carbon offset tree planting project in Cambodia continued with a further 69,000 planted to June 2025, taking the total number of trees planted since August 2024 to just nearly 116,000. This ongoing initiative represents a strong commitment to environmental sustainability that delivers long-term benefits for local communities, as well as preserving Cambodia’s unique biodiversity for future generations. Emerald's group TRIFR 12 month moving average, including the Dingo Range Gold Project was 0.43 as at the end of the September 2025 Quarter. Emerald is debt free and unhedged. With cash, bullion and listed investments on hand of circa A$303.6M (US$200.4M) Emerald remains fully funded and on track to achieve the Company's strategic objective of becoming a multi-mine gold producer exceeding 300Kozs per annum over the next 18 months.

Emerald Resources is pleased to report on the Company’s continued exploration success, including significant new discoveries at the Company’s 100% owned Dingo Range Gold Project in Western Australia (the Stables Prospect) and at the 100% owned Antrong North Licence in Cambodia (the Kang Roland North Prospect). Following the announcement of the updated resource at the Dingo Range Gold Project (40.1Mt @ 1.1g/t Au for 1.36Moz (lower cut-off grade of 0.45g/t Au) including high grade resources of 23.2Mt @ 1.4g/t Au for 1.07Moz (lower cut-off grade of 0.7g/t Au)), infill and extensional drilling continued at Boundary as part of the resource expansion program indicating high grade mineralisation at depth under the current Boundary Open Pit Resource (including 109.8m @ 1.30g/t Au from 432m which included 29.23m @ 1.46g/t Au from 479m, 7m @ 5.54g/t Au from 433m and 3m @ 9.71g/t Au from 539m). Drilling 18km SE of the Boundary/Neptune resource delivered a significant new discovery at the Stables Prospect including 15m @ 4.57g/t Au from 52m and14m @ 2.08g/t Au from 92m. In Cambodia the Company advanced drilling activities at the Granite Hill Prospect, targeting near mine open-pit supplemental feed for the 100% owned Okvau Gold Mine. Drilling also continued at Okvau focussing on further definition and extension of mineralisation and a first-pass diamond drill program resulted in a significant new discovery at the Kang Roland North Prospect, located within the 100% owned Antrong North Exploration Licence, 30km NNW of the Okvau Gold Mine (including 0.6m @ 46.00g/t Au from 48m). Following the announcement of the updated resource at the Memot Gold Project in July 2025 (31.4Mt at 1.3g/t Au with 1.34Moz (at a 0.5g/t Au cut-off grade) including high grade resource of 16.9Mt @ 1.9g/t Au for 1.03Moz (at a 0.9g/t Au cut-off grade) drilling focussed on targeting mineralisation beyond the defined resource boundaries, both down dip and along strike (including 0.6m @ 48.60g/t Au from 649m and 5.4m @ 4.92g/t Au from 520m) which continues to support a further resource update in the near term.

Emerald Resources is pleased to advise that the Company’s 100% owned Okvau Gold Mine in Cambodia poured its 1,000th gold bar. This represents a major achievement from the first gold pour during June 2021. Since then the Okvau Gold Mine has produced in excess of 440,000 ounces of gold.    The gold pour was celebrated at a ceremony at Okvau's operations in the presence of His Excellency Keo Rottanak, Minister, Ministry of Mines and Energy, H.E. Yos Mony Rath, Secretary of State, Her Excellency Yem Kannika, Secretary of State, H.E. Heng Chanthuon, Secretary of State, Her Excellency Tiet Rortuos, Under Secretary of State, H.E Phat Boné, Under Secretary of State, H.E. Ung Dipola, Director General, General Department of Mineral Resources and Officials from the ministry and provincial Department of Mines and Energy.   This milestone reflects the dedication and commitment from Emerald's team with the support of the Government of Cambodia over many years in developing and growing the Okvau Gold Mine. It paves the way for further investment in new projects both within Cambodia and Australia, underpinning the Company's growth strategy to becoming a multi-mine gold mining company.   Emerald's workforce in Cambodia's contributions are central to the Company's strong workplace culture and to the continued success of all operations. With the Company's commitment to sustaining the environment and local communities Emerald looks forward to continuing to provide opportunities for the Cambodian people as the Okvau Gold Mine grows and the 100% owned Memot Gold Project is developed.

Emerald Resources can report that the 100% owned Okvau Gold Mine's gold production for the September 2025 Quarter was circa 22koz. Production fell below guidance primarily due to heavy rainfall late in the Quarter which included a significant 24hr rainfall event of 114mm. This impacted on pit dewatering, deferring access to circa 5,000oz of high grade ore scheduled to be mined and milled at the end of the September. Production and AISC guidance remain unchanged for FY26 at 105Koz – 120Koz (to be updated with Okvau underground expansion) with AISC in line with life of mine US$966/oz. With cash, bullion and listed investments on hand of circa A$303.6M (US$200.4M) Emerald remains fully funded, debt free and unhedged and is on track to achieve the Company's strategic objective of becoming a multi-mine gold producer exceeding 300Kozs per annum over the next 18 months.

Emerald Resources is pleased to announce the release of the Company’s FY 2025 Sustainability Report. The Report encompasses Emerald’s projects in Cambodia – including the 100% owned operating gold mine at the Okvau Gold Mine and the 100% Memot Gold Project, the 100% owned Dingo Range Gold Project in Western Australia and exploration and development projects in both regions. Emerald operates with a set of strong values and principles ensuring that we protect our people, the environments in which we operate and support local communities through employment and training, and community partnerships. The Company also strives to ensure the safety of our people each and every day with well-established safety management systems across all sites. In FY25 Emerald achieved industry leading safety frequency rates of 0.45 for Total Recordable Injury Frequency Rate (TRIFR) and 0.00 for Lost Time Injury Frequency Rate (LITFR). Our commitment to the environment both local and global is exemplified by the Company pursing carbon neutral operations in Cambodia. Emerald provisions funds for activities which support the Company’s climate strategy. Emerald’s Board and management believe this more accurately encompasses our commitment to carbon neutrality rather than purchasing offset credits. A direct result of this in FY25 is the continuation of Emerald's first major carbon offset initiative, the Phnom 1500 project, which has seen 114,000 trees planted to date to help restore a severely degraded but significant ecological and social landmark within the protected Phnom Samkos Wildlife Sanctuary. This project is directed to creating a positive impact on habitat restoration. Emerald's FY25 Sustainability Report can be read here.

Emerald Resources is pleased to announce a record after tax profit of $A87.6 million for the year to 30 June 2025. The record result was driven by strong gold prices and steady performance at the Okvau Gold Mine which produced 98,110 ounces of gold at an all-in sustaining cost of US$1,075 per ounce, maintaining Emerald’s reputation as one of the lowest cost producers in the industry. The Company is also proud of the exceptional safety record across all operations with safety in the workplace central to Emerald's operational culture. There were no reportable injuries for the year, with a TRIFR 12 month moving average of 0.45 as at 30 June 2025, an industry-leading outcome that the Company strives to maintain. As at 30 June 2025 the Company’s cash, bullion and listed investments totalled A$237.7 million. Emerald is now a debt-free and unhedged gold producer. The full Annual Report can be read here.

Today Emerald Resources' Managing Director Morgan Hart will be speaking at the 2025 Diggers and Dealers Conference. In his presentation Mr Hart discusses Emerald's operational and growth activities at the Company's 100% owned flagship Okvau Gold Mine in Cambodia. He updates progress with the Company's plans for the coming year across the portfolio of assets in Cambodia and Australia, including the Company's 100% owned Memot Gold Project and 100% owned Dingo Range Gold Project, continuing Emerald's growth strategy of becoming a multi-mine, +300Kozs per annum gold producer with no further dilution to shareholders. A copy of Mr Hart's presentation is contained below.

Emerald Resources can report that the 100% owned Okvau Gold Mine gold production for the June 2025 Quarter was 19,115oz in line with the previous announced production guidance. At the Okvau Gold Mine the process plant continues to operate well and gold recovery for the Quarter was 84.9% with a high plant availability of 97%. Emerald's gold sales for the June 2025 Quarter were 16,866 ounces at an average of US$3,297/oz, generating a Pre-tax operating cash flow from the Okvau Gold Mine for the June 2025 Quarter of A$48.1 million (US$30.8 million), underpinning the Company’s ability to advance its exploration and development strategy. The June 2025 Quarter AISC was US$1,318/oz. The June 2025 Quarter also saw a focused effort to expand the Company's resource and reserve base to take global resources to over three million ounces of gold. This includes Emerald's two current development projects, the 100% owned Memot Gold Project in Cambodia and the 100% owned Dingo Range Gold Project in Western Australia. The Company’s Resources update released on 23 July 2025 reported significant gold resources growth across both the Memot and the Dingo Range Gold Projects for a total additional 670k ounces gold. This represents a 30% and 35% increase respectively. Importantly, the mineralisation remains open along strike and continues at depth, constrained only by the extent of drilling completed to date. Drilling is ongoing. The feasibility studies and permitting activities are progressing across both projects in preparation for the commencement of development. At the Memot Gold Project, studies completed to date have supported the submission of an Industrial Mining Licence application, the Mineral Investment Agreement negotiations are well advanced, and both are expected to be finalised imminently. These represent key steps toward the development of the project. A second stage of the Company’s Phnom 1500 carbon offset tree planting project in Cambodia continued with a further 69,000 planted to June 2025, taking the total number of trees planted since August 2024 to just over 114,000. This ongoing initiative represents a strong commitment to environmental sustainability that delivers long-term benefits for local communities, as well as preserving Cambodia’s unique biodiversity for future generations. Emerald's group TRIFR 12 month moving average, including the Dingo Range Gold Project was 0.49 as at end of June 2025 Quarter. During the Quarter, final repayment was made under the US$60M Okvau Debt Facility and Emerald is now debt free and unhedged. At Quarter end the Company had cash, bullion and listed investments of A$237.7 million (US$155.7 million) which with the Memot and Dingo Range development projects together with the strong cash flows generated from the Okvau Gold Mine underpin Emerald's growth strategy of becoming a multi-mine, +300Kozs per annum gold producer.

Since our last resources report in December 2024 we are pleased to report significant gold resources growth across both the Memot and the Dingo Range Gold Projects for a total additional 670k ounces gold. This represents a 30% and 35% increase respectively. Importantly, the mineralisation remains open along strike and continues at depth, constrained only by the extent of drilling completed to date. Drilling is ongoing. The feasibility studies and permitting activities are progressing across both projects in preparation for the commencement of development. At the Memot Gold Project, studies completed to date have supported the submission of an Industrial Mining Licence application, the Mineral Investment Agreement negotiations are well advanced, and both are expected to be finalised imminently. These represent key steps toward the development of the project.    Dingo Range Gold Project studies completed to date continue to support full licencing of the project with the installation of the camp to support development and operations progressing well.  These significant advances support our strategic objective of becoming a multi-mine, +300K ounce per annum gold miner and we look forward to providing further resource updates in 2025.