Name of the Project
Gilmour gold project.

Location
Yamarna belt, in Australia.

Project Owner/s
Australian gold producer and explorer Gold Road Resources.

Project Description
A prefeasibility study (PFS) released in January 2025 has proposed an operation with a five-year life-of-mine (LoM) averaging 50 300 oz/y.

Total LoM production of 252 000 oz at 3.9 g/t gold is envisaged from underground and openpit operations.

The project includes a high-grade underground mine component, which is expected to produce 200 000 oz over a four-year mine life. 

This includes a high-grade segment of 100 000 oz at 9.34 g/t gold and a lower-grade segment of 100 000 oz at 3.89 g/t gold.

Ore will be hauled to the Gruyere process plant, which is owned by the Gruyere Joint Venture, of which Gold Road is a 50% partner.

The mining of Gilmour is the first step of the Yamarna mine readiness project, with progressive evaluation of other resources – Renegade, Smokebush and Warbler – and late-stage exploration targets to follow in 2025.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax NPV, at a 5% discount rate, at A$3 500/oz of A$330-million, and a pretax NPV, at a 5% discount rate, at A$4 300/oz of A$505-million.

Capital Expenditure
$36-million, which includes site infrastructure and haul roads. Ore is modelled as being hauled to the Gruyere process plant.

Planned Start/End Date
The project remains on schedule to be shovel ready from late 2026.

Latest Developments
The next steps at the project include completing all the activities required for a final investment decision and conducting further infill and extension drilling. 

These activities include finalising native title agreements, permitting and approvals, as well as further optimisation to the ongoing Gruyere LoM mine plan.

Key Contracts, Suppliers and Consultants
None disclosed.

Contact Details for Project Information
Gold Road Resources, tel +61 8 9200 1600 or email investorRelations@goldroad.com.au.