Hanking Gold (03788): MT Bundy gold mine project mining management plan approved and mine operation authorization granted.

Hanking Gold (03788) announced that its indirect subsidiary, Primary Gold Pty Ltd, has been approved for a mining management plan for the Rustlers Roost and Quest 29 projects by the Northern Territory Government Department of Land, Planning, and Environment under the Mining Management Act 2001 and the Environmental Protection Act 2019, and has been granted a mining operation authorization (authorization DML1209-01). The mining management plan covers the mining camp, processing plant, tailings storage facility, related infrastructure, as well as the Rustlers Roost and Quest 29 open pit mining projects, collectively known as the Mt Bundy gold mine project. Standard conditions for such mining projects apply, including oversight by independent certified engineers and submission of annual environmental mining reports. According to the JORC Code (2012 edition), the Mt Bundy gold mine project currently has 3.47 million ounces of gold resources and 1.88 million ounces of gold reserves. All gold resources and reserves are within the existing mining license area. The company obtained environmental approvals for the Tom's Gully underground mining in 2020, and is scheduled to obtain environmental approvals for the open pit mine, processing plant, and related infrastructure by 2023. Upon approval of the mining management plan and the granting of authorization DML1209-01, Dr. Yumin Qiu, Executive Director, CEO, and President of the company, stated, "The achievement of this important regulatory milestone allows us to develop the Mt Bundy gold mine project as planned into a gold-producing mine. We sincerely thank our technical team and the Northern Territory Government departments, especially the Department of Land, Planning, and Environment, for their tremendous efforts. With this approval, we are more confident in the project's implementation and creating value for all stakeholders." The company is committed to meeting all relevant conditions before and during the operation of the Mt Bundy gold mine project. Based on progress in other work and approval from the board of directors, the company plans to commence on-site construction of the mining camp in early May 2026 and begin construction of the processing plant in the third quarter of 2026, with the goal of commencing gold production in the first quarter of 2028.