Minerals 260 Showcases Bullabulling Gold Project with 6.2 Million Ounce Resource at Noosa Mining Conference

Overview of Bullabulling Gold Project and Resource Base

Minerals 260 Limited is progressing the Bullabulling Gold Project, which it identifies as one of Australia’s foremost gold projects. Hosting a substantial mineral resource of 6.2 million ounces, the project is a key asset within the company’s portfolio. Bullabulling represents a major growth opportunity in the Australian gold mining industry, with a strategic emphasis on developing it into a high-margin producing operation.

The company’s prioritization of this flagship project highlights management’s focus on gold production growth. The sizeable 6.2 million ounce resource underpins feasibility and development planning efforts. Bullabulling’s scale and grade have led to a staged development plan, starting with an initial processing capacity designed to efficiently extract value while allowing for future expansion potential.

Pre-Feasibility Study and Stage 1 Development Plan

The Pre-Feasibility Study (PFS) released on 8 July 2026, titled "Bullabulling PFS Confirms High-Margin, Large-Scale Gold Mine," forms the foundation of the current development approach. The company confirmed that all material assumptions supporting production targets and financial forecasts remain unchanged as of the 23 July 2026 presentation, providing investors with confidence in the project’s technical and financial basis.

Stage 1 focuses on building a processing plant designed and costed for a 5Mtpa mining and processing operation. Although certain components are engineered with a 7.5Mtpa nameplate capacity, Minerals 260 currently intends to operate only at 5Mtpa during the initial phase. This phased approach reflects disciplined capital management, with any expansion contingent on positive results from future studies aligned with the company’s development timeline.

Caution on Production Expansion and Future Studies

Minerals 260 explicitly states that any future production expansion beyond 5Mtpa is conceptual at this stage. The company has not completed sufficient work to confirm whether such expansion is achievable or economically viable. This transparent communication distinguishes between current definitive plans and aspirational scenarios.

The company does not have reasonable grounds to confirm economic or technical viability for production beyond 5Mtpa currently. Future expansion would depend on favorable outcomes from expansion studies conducted according to the company’s timeline. There is no guarantee these studies will validate economic viability or result in increased production. This cautious stance underscores management’s commitment to evidence-based capital allocation and production planning.

CEO Luke McFadyen’s Presentation at Noosa Mining Investor Conference

CEO and Managing Director Luke McFadyen led Minerals 260’s presentation at the Noosa Mining Investor Conference on 23 July 2026. The update provided investors and market participants with insights into the Bullabulling Gold Project’s progress and strategic direction. Presenting at a major Australian mining conference highlights the company’s engagement with investors and commitment to transparent project development communication.

The conference presentation served as a critical platform for direct dialogue between management and investors regarding the project’s trajectory, situating Bullabulling within the broader Australian mining sector and enabling benchmarking against comparable gold operations.

High-Margin, Large-Scale Gold Mining Opportunity

The Pre-Feasibility Study confirms Bullabulling’s potential as a high-margin, large-scale gold mine. This reflects strong economic and operational parameters, indicating attractive financial returns alongside significant production scale. The high-margin profile is supported by the project’s cost structure and gold price assumptions embedded in the PFS.

The large-scale classification stems from the 6.2 million ounce resource and planned 5Mtpa processing capacity in Stage 1. This positions Bullabulling as a significant contributor to Australia’s gold output upon commencement. The combination of scale and profitability lays the foundation for a strategically important gold mining operation aimed at delivering robust shareholder returns, subject to successful execution and market conditions.

JORC Code Compliance and Resource Reporting

Minerals 260 confirms that its ore reserve and mineral resource estimates for Bullabulling comply with the JORC Code (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). The company notes that investors outside Australia should be aware these estimates may not align with reporting standards such as Canada’s NI 43-101 or the U.S. SEC’s Regulation S-K Item 1300.

The company cautions that mineral deposit information may not be comparable with disclosures by companies subject to other jurisdictions’ reporting requirements. There is no certainty that resources will convert to reserves under JORC or other regimes, or that the company will be able to economically or legally extract them. This disclaimer aligns with ASX regulatory requirements and provides context for international investors.

Continuity of Material Assumptions and Ore Reserve Estimates

Minerals 260 confirms no new information materially affects the Pre-Feasibility Study announced on 8 July 2026, with all key assumptions and technical parameters still applicable. This assurance supports the stability of the project’s technical foundation and validates the PFS conclusions as a basis for ongoing development planning.

The consistency of assumptions between the 8 July announcement and the 23 July presentation indicates no adverse technical, operational, or economic developments have arisen. This stability enhances confidence in the forecast production and financial data, while the company’s explicit confirmation promotes transparency regarding the development timeline and strategy.

Risks Impacting Future Operations and Financial Performance

The company identifies several risks that may affect Minerals 260’s future operations and financial results. These include capital requirements for development, resource and reserve reporting risks, development and construction risks, permitting challenges, commodity price volatility, and operational risks. Broader market and economic conditions also pose risks beyond the company’s control that could materially influence project economics and investment returns.

Capital requirements are a significant specific risk, as advancing Bullabulling to commercial production demands substantial investment in processing facilities, mine infrastructure, and support operations. Permitting risk is critical, with project progression dependent on securing and maintaining regulatory approvals and compliance. Commodity price fluctuations directly impact project viability and returns. Investors should carefully assess these risks when considering an investment in Minerals 260 Limited.

Forward-Looking Statements and Information Disclaimer

The company’s update contains forward-looking statements related to Bullabulling’s development schedule, production goals, and financial outlook. The presentation is general and informational only, not constituting an offer of securities or financial advice, including tax, accounting, or legal counsel, and should not be relied upon for investment decisions.

Prepared without considering individual investor circumstances, the information reflects data available at the time and carries no warranty as to completeness or accuracy. Investors are urged to seek independent financial, legal, tax, and other advice before making investment decisions regarding Minerals 260 Limited or the Bullabulling Gold Project. The company acknowledges inherent risks that may affect forward-looking statements and does not guarantee specific returns or company performance.