Significant re-rate in the near term, page-33

10 March 2023
Operational update
Austral Resources Australia Ltd (ASX:AR1) (Austral or the Company) provides the following
update on operations:

• In the last four days, the Company has had over 376mm of rainfall at Lady Annie
operations located 110km north-west of Mount Isa. Safety of Austral staff and contractors,
along with continuing water/environmental management remains as Austral’s highest
priority. There have been zero safety or environmental incidents to report at this time.

*********************** The Company’s Mount Kelly processing facility has continued to plate Copper Cathode
during this challenging period.****************************

• Austral’s mining and hauling campaign has been suspended due to access issues to
McNamara Road (site access road). Austral is also pleased to highlight that Thiess
(principal mining contractor) remains 12% ahead of the Anthill project mining schedule.
Over the coming days maintenance works will continue on the road with an assessment
date for opening scheduled for Sunday 12 March (subject to any further rainfall).
• Anthill ROM currently has 157,000 tonnes of Ore stockpiled, which is sufficient to sustain
the March haulage schedule. The Company also has approximately 40,000 tonnes of
broken Ore stocks in the Anthill West Pit which has been mostly unaffected by the rain
event.
• Austral is within a wet weather location, being far north-west Queensland and has faced
an array of extreme weather events prior to this week’s rain. This is not an uncommon
event, and our preparation and the management practices of the site team have been
exemplary.
• Austral will provide a further update to the situation if there are any material changes.