Operations

Blackjack

NMR’s immediate priority is the Blackjack Gold Project, located near Charters Towers – an established historic high-grade goldfield.

Once a dilapidated and abandoned site, it has now been completely transformed, producing its first gold in July 2025.

NMR has capitalised on the existing infrastructure and the site’s proximity to town – with accompanying town water and access to main electricity supply – to entrench a highly-skilled, specialised workforce comprising metallurgists, geologists, engineers, fitters, boilermakers, metallurgists, lab workers and store workers.

Together this team has delivered a 15 kilogram gold bar six months ahead of schedule from its 340 kpta processing plant, with scale up continuing over the coming months to an expected .. ounce capacity by (date).

But Blackjack is just the beginning.

NMR is already developing other mining projects to unlock potential for both the region and its investors.

These are focused on significant tenement positions in two other high-potential gold and copper exploration areas.

Puzzler

The Puzzler Mine is another gold project located in Queensland, Australia. It’s part of a larger area known as Granite Castle, which NMR acquired in late 2024. The mine has a known gold resource — around 77,000 ounces — with high gold grades (about 3.1 grams per tonne), making it attractive for a smaller, high-value operation.

What makes Puzzler promising is how it fits into NMR’s bigger picture.

Puzzler has the potential to contribute to a central processing hub — meaning NMR could mine gold from several places and process it all in one cost-effective location.

So far, NMR has been reviewing old data and planning new drilling to confirm how much gold is available and how best to extract this resource.

While it’s still early days, the high-grade nature of the deposit and its strategic location make it a promising piece of the puzzle for NMR’s growth — and potentially, a valuable play for investors seeking exposure to near-term gold production.

Granite Castle

Also showing great promise is the Granite Castle deposit alongside Far Fanning, acquired by NMR under its transformational A$18.9M deal in November 2024.

Also located within the Ravenswood–Charters Towers district, Granite Castle holds a JORC 2004 MRE of 0.76 Mt @ 3.14 g/t Au for approximately 77,000 oz of gold.

NMR expects to conduct infill drilling and update the resource estimate to modern standards, eventually integrating this small high‑grade deposit into a broader feasibility study. To date, early work has focused on resource appraisal and historic data review, with drilling timetables due to follow once Far Fanning and Blackjack development is further advanced.

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