Coda Minerals Secures Gazettal of Elizabeth Creek Scoping Report, Paving Way for Mining Lease Submission

Regulatory Progress: Gazettal Confirms Elizabeth Creek Environmental Approval Framework

Coda Minerals announced that the South Australian Department of Energy and Mines has officially accepted and gazetted the Scoping Report for the Elizabeth Creek Copper-Silver Project. This marks a significant advancement in the company’s regulatory approval process, as the gazettal formalizes project-specific Terms of Reference for Elizabeth Creek. Unlike preliminary environmental assessments, the gazettal signifies regulatory confidence in Coda’s proposed environmental and social impact study approach.

The company emphasized that this gazettal provides documented certainty on the scope, timing, and cost of the necessary studies to secure a Mining Lease. By obtaining this formal approval, Coda has removed a common source of uncertainty in early-stage mining approvals within South Australia. The Scoping Report details the environmental studies, baseline surveys, and stakeholder consultations required before submitting a formal Mining Lease application. This clarity enables Coda to proceed methodically without risk of regulatory demands for major revisions that could cause delays or increased expenses.

Understanding South Australia’s Scoping Process and New Approvals Framework

The Scoping process is a relatively recent initiative by the South Australian Department of Energy and Mines, replacing informal pre-lodgement consultations that previously defined the state’s approvals pathway. It is important to distinguish this from a traditional "Scoping Study," which is an initial economic evaluation. Coda has completed multiple economic scoping studies for Elizabeth Creek and is now progressing the Pre-Feasibility Study, representing the next phase of technical and economic analysis.

According to the Department, Scoping identifies environmental and social characteristics influencing a proposed mining operation’s initial stage. This framework benefits both mining companies and regulators by preventing duplicated efforts and avoiding delays caused by rework during tenement applications. It promotes early stakeholder engagement, transparency, and streamlines the application process while providing greater certainty on timing, costs, and data requirements for environmental impact assessments. Early regulator involvement helps Coda reduce risks of additional work and related schedule or cost impacts during the mining application phase.

Project-Specific Terms of Reference Secure Approval Requirements and Minimize Variation Risks

A key outcome of the gazettal is that the Scoping Report now serves as the formal Terms of Reference for assessing Coda’s future Mining Lease application. These project-specific Terms replace the standard Terms of Reference that would otherwise apply. Once gazetted, these Terms of Reference are fixed and will only be altered through mutual agreement between Coda and the South Australian Government if project conditions evolve during the Pre-Feasibility Study.

This locked-in framework significantly de-risks the approval pathway, allowing Coda to plan environmental and technical studies confidently without concern for unexpected regulatory changes. This certainty extends to timing and budgeted costs, which are vital for project planning and capital allocation. Coda has already begun substantial work including baseline environmental surveys, stakeholder engagement, and specialist studies. The formalization through gazettal enables accelerated execution of remaining studies with assured regulatory expectations.

Concurrent Progress on Pre-Feasibility Study and Environmental Approvals

Coda is advancing the Elizabeth Creek Pre-Feasibility Study alongside the environmental approvals process. Both streams share a critical upcoming milestone: groundwater drilling, set to commence imminently. The program will start at the Windabout deposit, followed by drilling at Emmie Bluff. This sequencing allows collection of baseline hydrogeological data essential for both environmental approvals and technical studies feeding into the Pre-Feasibility Study.

Groundwater drilling establishes a hydrogeological baseline supporting multiple objectives. Environmentally, it informs impact assessments and demonstrates sustainable operations under South Australian regulations. Technically, it supports mining and geotechnical studies, water balance calculations, processing and metallurgical evaluations, and infrastructure planning. This integrated approach positions Coda to transition efficiently from Pre-Feasibility Study completion to Mining Lease application submission without loss of momentum. The company anticipates submitting the Mining Lease Application shortly after finalizing all critical trade-off studies.

Environmental Studies and Stakeholder Engagement: Core Elements of the Locked-In Scope

With the Scoping Report now formalized and gazetted, Coda’s immediate priority is executing the studies outlined within it as part of the Mining Lease application. Significant work has already commenced, with teams finalizing designs and initiating required studies, including ongoing baseline environmental surveys, stakeholder consultations, and specialist assessments detailed in the gazetted report.

The project-specific Terms of Reference establish a transparent framework for environmental and community engagement. Early clarity enables meaningful collaboration with local stakeholders and regulators on agreed terms. Coda views the formal acceptance and gazettal as a strong endorsement of its constructive regulatory engagement. This positive relationship reduces the risk of unforeseen regulatory challenges during the Mining Lease phase and supports a smooth path toward operational approvals. The company plans to appoint key consultants to undertake outstanding studies, ensuring efficient and professional delivery of required environmental and technical work.

Coda Minerals’ Elizabeth Creek Project: Full Ownership and Strategic Copper-Silver Resource

Coda Minerals holds 100% ownership of the Elizabeth Creek Copper-Silver Project, a significant advantage for the company and its investors. The project encompasses the Windabout and Emmie Bluff deposits, focal points for the upcoming groundwater drilling and broader technical studies. Sole ownership eliminates joint venture complexities, ensuring all benefits and development decisions reside with Coda shareholders.

Elizabeth Creek is Coda’s flagship development asset, being advanced systematically through regulatory and technical milestones toward potential mining operations. The copper-silver resource base, combined with South Australia’s mining-friendly regulatory and infrastructure environment, situates the project within a well-established jurisdiction. The company’s parallel advancement of technical (Pre-Feasibility Study) and regulatory (environmental approvals) workstreams reflects a disciplined strategy to de-risk the project comprehensively. The Scoping Report gazettal milestone confirms that Coda has met South Australian Government thresholds for formal recognition of the environmental approvals pathway.

Important Considerations: Mining Lease Grant Subject to Further Assessments and Approvals

While the Scoping Report gazettal defines a clear environmental approvals pathway, Coda emphasizes that Mining Lease grant is not guaranteed. The gazettal sets the framework and roadmap for required studies, but successful lease approval depends on multiple further steps. These include completing environmental and technical studies, finalizing the Pre-Feasibility Study, undergoing additional regulatory reviews, and obtaining final government and authority approvals.

Investors should recognize that although the gazettal reduces regulatory uncertainty by locking in Terms of Reference, inherent risks remain in major mining project development. The Pre-Feasibility Study must confirm economic and sustainable project viability. Environmental studies must meet regulatory and community standards. Ongoing constructive engagement with stakeholders and regulators is essential. Timing and outcomes of approvals remain subject to external factors beyond Coda’s control, with no guarantees on approval timelines or regulatory conditions.

Upcoming Steps: Groundwater Drilling Launch and Consultant Engagement

Coda’s immediate next step is commencing groundwater drilling within days, initially at the Windabout deposit, followed by Emmie Bluff. This program is vital to establishing the hydrogeological baseline required for environmental approvals and technical studies. Data collected will support water balance modeling, processing and metallurgical assessments, mining and geotechnical evaluations, and infrastructure planning.

Following groundwater drilling, the company plans to appoint specialist consultants to execute outstanding studies outlined in the gazetted Scoping Report. This structured engagement ensures professional delivery of environmental and technical requirements. Coda is positioned to submit its Mining Lease Application promptly after completing the Pre-Feasibility Study and critical project trade-off analyses. This approach maintains momentum across technical and regulatory workstreams, aligning with the company’s timeline to file the Mining Lease Application shortly after PFS completion.

Strategic Impact: Reducing Approval Risks in a Competitive Mining Development Landscape

The Scoping Report gazettal marks a substantial reduction in regulatory uncertainty for the Elizabeth Creek project. Globally, regulatory clarity and early government engagement are key factors influencing project risk and investor confidence. By formalizing the environmental approval scope and framework, Coda has removed a potential source of delay and cost escalation in the development pathway.

The locked-in Terms of Reference also provide a tangible milestone Coda can communicate to investors, lenders, strategic partners, and stakeholders. The gazettal confirms South Australian Government endorsement of Coda’s methodical approach and commitment to assessing the Mining Lease application against the agreed framework. This regulatory validation strengthens Coda’s position as it advances toward operational status. For investors monitoring Elizabeth Creek, the gazettal milestone represents a meaningful risk reduction and enhanced clarity on the regulatory path ahead.