Ann: Pennys Find Pre-Feasibility Study and Ore Reserve, page-8

Posed a few questions re the foreseeable to copilot...

Boorara Gold Project

• Location: 10 kilometers east of Kalgoorlie-Boulder, Western Australia.

• Geology: The project contains over 1.5 kilometers of gold mineralisation striking northwest at 330 degrees. Gold mineralisation is hosted in stacked quartz vein arrays within quartz dolerite1.

• Resource Estimate: The Boorara deposit has a JORC 2012 Mineral Resource Estimate of 11.03 million tonnes at 1.26 g/t gold for 448,240 ounces of gold.

• Mining and Processing: The project involves mining four open pits containing 1.24 million tonnes of ore at 1.24 g/t gold for 49,500 ounces of gold. Mining commenced in August 2024 and is expected to continue for 14 months, with processing at Norton Gold Fields’ Paddington plant over 19 months2.

• Revenue: Estimated to generate $30 million in free cash flow at a gold price of A$3,600/oz.

Merger with Poseidon Nickel Limited

• Objective: Fast-track the creation of a new mid-cap gold producer in the Western Australian Goldfields.

• Assets Consolidation: The merger consolidates Horizon’s gold resources with Poseidon’s Black Swan processing infrastructure.

• Resource Base: Combined JORC Mineral Resources of around 1.8 million ounces of gold at an average grade of 1.84 g/t gold and 422,700 tonnes nickel at an average grade of 1% nickel.

• Strategic Plan: Refurbishment of the Black Swan processing plant to facilitate gold production, aiming to become a sustainable, 100,000 ounces per annum gold producer.

Phillips Find Project

• Location: 45 kilometers northwest of Coolgardie, Western Australia.

• Joint Venture: Horizon Minerals has a joint venture agreement with BML Ventures to develop and mine two open pits.

• Mining Plan: The mine plan involves cutbacks to two existing open pits, Newhaven and Newminster. First ore is due to be exposed in December 2024, with processing at FMR Investments’ Greenfields mill from February 2025 to June 20256.

• Financial Structure: BML Ventures funds all project costs, with net cashflow split 50/50 between Horizon and BML after asset recovery and repayment of costs.

These projects highlight Horizon Minerals' commitment to gold exploration, extraction, and processing, positioning them for significant growth and development over the next few years.