OreCorp Limited announced the Definitive Feasibility Study for the Nyanzaga Gold Project in Tanzania has confirmed a project with robust economics. Combined open pit and underground production target of 42.51 Mt @ 2.07 g/t gold for 2.83 Moz contained gold, comprising the Probable Ore Reserve plus Inferred Mineral Resources of 2.39 Mt at 2.98 g/t for 0.23 Moz contained gold1 Peak gold production of 295 koz/pa; averaging 250 koz pa for the first eight years; 242 koz pa for the first ten years Life of mine (LOM) average gold production of 234 koz pa over 10.7 years DFS confirms concurrent open pit and underground mine schedule delivers the optimal economic outcome for the Project Pre-production capital cost of US$474M includes underground development, open pit pre-strip, plant and associated project infrastructure and $36 million contingency High margin project with low all-in sustaining costof $954/oz Pre-tax NPV5% of US$926M and IRR of 31%; post-tax NPV5% of US$618M and IRR of 25% based on a US$1,750/oz gold price Short payback period of 3.7 years (post-tax) OreCorp has appointed Auramet International LLC as debt advisors and financing discussions have commenced with banks and other financial institutions Targeting first gold from Nyanzaga in H1 CY2025 Open pits are scheduled to deliver 1.2 Moz at 1.32 g/t gold and a low 3.7:1 strip ratio using an average weighted lower cut-off grade of 0.48 g/t gold Underground mining is scheduled to deliver 1.64 Moz at 3.55 g/t gold using an average weighted lower cut-off grade of 2.0 g/t gold Underground to be developed to a depth of 700m below surface; deposit remains open at depth Detailed DFS metallurgical test work confirmed average LOM gold recovery of 88% through a conventional 4 Mtpa Carbon in Leach (CIL) processing plant Nyanzaga's DFS, led by experienced global engineering firm Lycopodium Minerals Pty Ltd, a subsidiary of Lycopodium Limited, detailed all facets of geology, mining, processing, supporting infrastructure and Project execution to a nominal accuracy of ±15%. The DFS evaluated the technical and economic viability of various open pit and underground development scenarios and was optimised considering mining, processing and economic factors.

The study delivered an optimal development scenario of 4 Mtpa with concurrent development of both the open pit and underground operations. The Project is expected to deliver average gold production of 234 koz pa over a 10.7 year LOM, with >242 koz pa (average) for the first 10 years peaking at 295 koz pa in Year 6 delivering a total of approximately 2.5 Moz of gold produced over the LOM. The AISC is estimated to be USD 954/oz over the LOM and incorporates the 6% government royalty, 1% inspection fee and a 0.3% service levy (7.3% in total).

Under the proposed concurrent open pit and underground mine schedule the Nyanzaga open pit will provide the base tonnage of ore over the LOM. Ore production, from both the Nyanzaga and Kilimani open pits is expected to average 1.32 g/t gold. The combined open pit strip ratio is 3.7:1 with total material mined from the open pits expected to be 131 Mt comprising 103 Mt waste and 28 Mt ore.

Underground mine development is expected to commence six months earlier than the open pit with a box cut to be developed adjacent to the open pit The first underground material is expected to be processed in Year 1 and reach full underground production rates of 1.6 Mpta in Year 5. The underground mine is expected to utilise a longhole stoping method with paste backfill. Underground ore is expected to average a grade of 3.55 g/t gold. A total of 14.39 Mt of ore and 1.41 Mt of waste is expected to be mined from underground.

The process facility is based on a conventional flow sheet design with a primary jaw crusher, feeding a semi-autogenous mill/ball mill configuration and pebble crusher, and then gravity recovery and CIL processes. The flowsheet utilises conventional proven technology that has been used globally in gold mines for many years. Detailed metallurgical testwork and comminution studies estimated the LOM metallurgical recovery at 88%.

consistent with the PFS.