New Murchison Gold (NMG) JMM Gold Forum 2026 summary

Project overview and operational highlights

• Garden Gully Gold Project is located north of Meekatharra, Western Australia, with operations centered at Crown Prince and nearby satellite deposits.

• Produced 58,000 ounces in 10 months to June, with a cash balance exceeding AUD 200 million and a 47% increase in resource base to 360,000 ounces over the past year.

• Market cap stands at AUD 761 million, with strong cash flows and a growth-focused strategy.

• Partnership with Westgold enables efficient ore processing and sales, leveraging Bluebird's larger mill for cost advantages.

• Mining, crushing, and sampling are integrated at Crown Prince, with ore trucked to Bluebird and 83% of gold value paid after cost reimbursement.

Production expansion and resource development

• Expansion includes bringing Cloudkicker into production and planning underground mining at Crown Prince, with Lydia to follow.

• Production averages 5,000 ounces per month, with potential to reach 7,000 ounces during peak periods.

• Cloudkicker and Crown Prince ore are processed together, with reserves for Crown Prince Underground and Lydia expected before year-end.

• Resource growth is targeted between Crown Prince, Cloudkicker, and Lydia, with recent strong drilling results at Lydia.

• Feasibility study for Crown Prince underground is underway, focusing on high-grade zones inaccessible from open pit.

Exploration strategy and future outlook

• Multiple satellite deposits are being advanced, with the potential for large standalone projects along the Abernethy Shear Zone.

• Cloudkicker shows high-grade shallow mineralization, with ongoing drilling between Cloudkicker and Crown Prince to test for continuity.

• Lydia project comprises three pits with high-grade plunging shoots, aiming for early cash flow.

• Lydia and Abbotts resources total 99,000 ounces, with updates expected before year-end.

• Exploration is systematic, balancing near-term production projects with high-risk, high-return greenfields opportunities.