Lunnon Metals (LM8) Noosa Mining Conference 2026 summary

Project achievements and regional context

• Achieved significant milestones over the past 12 months, including strong cash generation and project advancement.

• Operates in a highly prospective gold belt near major gold camps, with 30 million ounces at one end and 100 million ounces at the other.

• Holds significant tenure in the St Ives Gold Camp, a world-class district with a history of major gold and nickel production.

• Area contains substantial infrastructure from previous nickel mining, with minimal historical gold exploration.

• Strategic location within a major shareholder’s gold operations, providing operational synergies.

Recent discoveries and project development

• Lady Herial gold discovery advanced from first drill hole to first ore in 22 months, with mining commencing in early 2026.

• Lady Herial Feasibility Study projects robust pre-tax free cash flow, with sensitivity analysis showing resilience to gold price and cost changes.

• Invincible deposit at St Ives is expected to become the largest gold discovery in the camp, highlighting the region's potential.

• Hustler gold discovery adds to pipeline of targets, supporting ongoing exploration.

• Ore Purchase Agreement with SIGMC enables 70% free cash flow share, with third-party mining and no increase in staffing.

Exploration strategy and growth plans

• FY2027 exploration budget set at AUD 13 million, targeting 1.2–2.4 million ounces of gold.

• Planned drilling of over 43km, the largest annual program in the project's history.

• Exploration target of 25–30Mt at 1.5–2.5 g/t Au for 1.2–2.4Moz, though not yet classified as a Mineral Resource.

• Gold exploration is focused on areas previously overlooked due to nickel mining priorities.

• Discovery potential is supported by proximity to major gold deposits and underexplored ground.