29Metals Limited released its 31 December 2022 Mineral Resources and Ore Reserves estimates, reporting an increase in Mineral Resources of 4.5Mt and Ore Reserves of 5.7Mt (each, after depletion for production). The Mineral Resources and Ore Reserves estimates reported in this release have been prepared and are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition). Summary: Mineral Resources estimates: Increase in Mineral Resources tonnes to 127.9Mt (2021: 123.4Mt) after depletion from production; Contained metal in Mineral Resources estimated at 2,240kt Cu, 2,473kt Zn,1,323koz Au, 78,087koz Ag, 153kt Pb and 22kt Co (2021: 2,109kt Cu, 2,573kt Zn, 1,338koz Au, 75,006koz Ag, 160kt Pb, and 21kt Co); Growth in Mineral Resources tonnes and contained metal in key areas, including: Esperanza South (`ESS') at Capricorn Copper - a 23% increase in estimated tonnes (+3.5Mt), a 32% increase in estimated contained Cu (+90kt), a 38% increase in estimated contained Ag (+3,094koz); and Cervantes at Golden Grove - a 13% increase in estimated tonnes (+0.6Mt) and a 34% increase in estimated contained Cu (+21kt); Strong conversion of Mineral Resources reflecting increased geological confidence, with Measured and Indicated Resources tonnes after depletion from production increasing to 92.7Mt (2021: 86.0 Mt), including: ESS at Capricorn Copper - Measured and Indicated increased 51% year-on-year; and Cervantes at Golden Grove - Measured and Indicated increased 82% year-on-year.

Ore Reserves estimates: Increase in Ore Reserves tonnes to 31.0Mt (2021: 25.3Mt) after depletion from production, including: Gossan Valley Ore Reserves estimate of 1.8Mt at 1.1% Cu, 7.2% Zn, 0.5 g/t Au, 11 g/t Ag and 0.1% Pb, following completion of the Gossan Valley feasibility studies; a 19% increase at Golden Grove (including Gossan Valley) to 15.1Mt (2021: 12.7Mt); and a 27% increase at Capricorn Copper to 16Mt (2021: 13Mt); Contained metal in Ore Reserves estimated at 540kt Cu, 744kt Zn, 330koz Au, 18,985koz Ag, 37kt Pb (2021: 456kt Cu, 655kt Zn, 334koz Au, 17,409koz Ag, and 44kt Pb).