PROJECTS

Great Eastern Gold (GEG) is an Australian gold production and exploration company advancing four near-production gold mines in Northern Queensland: Welcome Again, Big Rush, Camel Creek, and Golden Cup. Each mine is located on granted Mining Leases and supported by a JORC-compliant resource base of 487,000 ounces of gold. These assets are undergoing staged development toward a combined production target of 140,000 ounces per annum by Year 2.

Three of these mines—Big Rush, Camel Creek, and Golden Cup—have substantial heap leach ore stockpiles remaining from historical mining operations in the 1990s. These pads are ready for immediate processing, and recent grab samples and reverse circulation (RC) drilling conducted in 2020 and beyond have confirmed gold continuity and metallurgical viability for reprocessing. This positions GEG to commence gold production from these stockpiles while full-scale mining ramps up.

The Welcome Again Mine, located near Charters Towers, holds a JORC compliant 102,000 oz and is fully permitted on a Mining Lease. It will begin production following the installation of a modular processing plant and the completion of underground shaft infrastructure. A comprehensive execution plan has been finalised, targeting gold pours by mid-2026.

Beyond the near-term producers, GEG holds an extensive portfolio of high-potential exploration targets:

• In Queensland, the Golden Ant Portfolio hosts over 700 km² of tenure, with more than 52 historic gold mines. Historical oxide mining has left substantial unmined sulphide resources. GEG also has active interests at Gold Head (Cape York Peninsula).
• In Western Australia, GEG has tenements in Kalgoorlie/Menzies, with exploration underway to expand the company’s longer-term production pipeline.

GEG’s multi-mine portfolio and staged development strategy mitigate single-asset risk and provide scalability across multiple production fronts.

Big Rush is a near-production asset positioned to become a key early revenue generator for Great Eastern Gold. Located in Northern Queensland and fully permitted, the mine benefits from existing infrastructure and a historically proven gold system.

Production & Revenue Potential: Gold production at Big Rush is forecast to commence in 2025, starting with the immediate reprocessing of ~950,000 tonnes of oxide ore from historical heap leach pads. The project hosts a JORC-compliant resource of 157,000 ounces, distributed across multiple defined pit areas including Central, Northern, Southern, and Sergei. A staged development strategy will target shallow open-pit oxide and transition ores in the early phases, with plans to advance into underground mining of high-grade sulphide zones as the project matures.

Drilling Upside: Recent infill and extensional drilling has confirmed continuity and depth extensions of the mineralised system, significantly enhancing confidence in the current resource. These results strongly support the potential upgrade of the JORC resource, increasing both life-of-mine and project valuation.

Processing & Infrastructure: A new, on-site modular plant with gravity separation and in-line leach reactor will deliver high recovery rates from both oxide and refractory ore. Initial production from reprocessed heaps ensures immediate cash flow while the open pits and deeper underground zones are developed.

The Camel Creek Mine, located within the Amanda Bell Goldfield, is a large-scale, high-upside project with both near-term production and long-term growth potential. It hosts a JORC-compliant resource of 202,000 oz of gold across oxide and sulphide domains, with significant additional value from an estimated 9,000 tonnes of antimony.

Production & Revenue Potential: Initial production at Camel Creek is set to begin in 2025 with the reprocessing of ~1.2 million tonnes of historical heap leach ore, delivering immediate, low-cost gold recovery. The project will follow a multi-phase development plan, starting with open-pit mining of shallow oxide zones, then transitioning to underground mining to access deeper, high-grade sulphide ore bodies. Notably, the Hinge Zone, a significant sulphide-rich structure, remains entirely unmined and represents a high-margin future feedstock with strong economic potential.

Golden Cup

The Golden Cup Mine, located in the Amanda Bell Goldfield in Northern Queensland, is a high-grade, near-term gold producer with significant upside. It hosts a JORC-compliant inferred resource of 256,000 tonnes @ 3.6 g/t Au (approximately 30,000 ounces) and is permitted on a Mining Lease.

Production & Revenue Potential: Production at Golden Cup will commence with the reprocessing of approximately 300,000 tonnes of ore stockpiled on historical heap leach pads, allowing for rapid, low-cost gold recovery and immediate cash flow generation. The ore will be transported to the nearby Camel Creek modular processing plant, significantly reducing capital expenditure by utilising existing shared infrastructure.

Exploration & Resource Upside: A recent RC drilling campaign (11 holes, 1,022m) confirmed high-grade gold extensions beneath historical pits. Notable intercepts include 7.0m @ 4.6 g/t Au, including 2.0m @ 14.3 g/t Au in hole GCRC093, and 6.0m @ 7.4 g/t Au, including 3.0m @ 11.3 g/t Au in hole GCRC094.

These results demonstrate continuity of mineralisation at depth and validate the potential to significantly increase the existing JORC resource through a planned follow-up drilling program in 2025.

The Great Eastern Mine consists of historical workings on the Puddler Creek formation. The geology at The Great Eastern corresponds with The Welcome Again and The Grafter West Mines. A small drilling program was exercised at The Great Eastern Site and some promising intersections were made.

The Great Eastern Mine is on ML10124 produced 254 ounces of gold from 163 tonnes of ore between 1901 and 1906. The workings extended to 43 m deep, over a strike length of 200 m. Grades of battery returns reported for the mine are better than one ounce to the tonne.

The Gold Head mineralisation consists of mesothermal quartz + calcite + chlorite + pyrite + arsenopyrite fissure veins within the Kintore Ademellite. At the northern end of the system, a single vein plus several major splays have been identified. Four zones containing elevated gold concentrations have been identified, which may potentially provide a basis for mining.

Great Eastern Gold has an Exploration Permit covering 29 subblocks over 87 square kilometres and may embark on a drilling programme to delineate the resource.