Rox Resources Secures Full Permits and Launches Plant Construction to Achieve Youanmi Gold Mine Production by Mid-2027

Final Regulatory Approval Enables Youanmi Mine Construction and Operations to Proceed

Following the June 2026 quarter, Rox Resources secured the critical Works Approval from Western Australian authorities, granting full permitting to proceed with construction and operation of the Youanmi Gold Mine. This milestone significantly reduces regulatory risk and removes potential delays to development. The company had previously reached Final Investment Decision in March 2026, endorsing capital expenditure and construction commencement.

With full permits in place, Rox Resources is accelerating its development timeline without regulatory barriers. Construction activities at Youanmi are set to intensify in the coming months, supporting earthworks, plant fabrication, and underground development across the three planned declines.

Processing Plant Construction Kicks Off After Securing Major Equipment and Supply Contracts

During the June 2026 quarter, Rox Resources finalized several pivotal contracts essential for the Youanmi processing plant. Interquip Construction Pty Ltd was appointed for engineering, procurement, and construction (EPC) services. Glencore Technologies Pty Limited will supply the IsaMill and OxiLeach Reactor components for the Albion Circuit, while Cefa Evol Pty Ltd secured the liquefied natural gas (LNG) supply and storage contract. Lambron Contracting Pty Ltd was engaged for bulk earthworks and road construction at the site.

Interquip and Glencore Technologies advanced detailed plant designs, issuing construction drawings to facilitate fabrication and assembly of key equipment such as the ball mill, IsaMill, Albion leach tanks, and Cyanide in Leach (CIL) tanks. Fabrication is well underway, aligned with the mid-2027 gold pour target. Lambron Contracting has made significant progress in site preparation, handing over sections for mobilisation and civil works. Bulk earthworks for the plant site are expected to complete by July 2026, followed by Tailings Storage Facility construction. Negotiations for remaining major contracts, including power station and oxygen supply, are near completion.

Underground Development Advances Across Three Declines While Ore Stockpile Grows

Mining development at Youanmi progressed considerably, with Rox Resources achieving 1,117 metres of underground lateral development during the quarter, totaling 2,130 metres since commencement. The United North ore zone led progress with 1,025 metres advanced in the quarter, reaching 2,037 metres overall. Multiple ore drive levels are now under development at United North. A surface stockpile of 27,702 tonnes grading 3.06 g/t gold, containing approximately 2,729 ounces, was established by quarter-end. The company aims to build a 190,000-tonne stockpile at 3.3 g/t gold by mid-2027.

Vertical development included firing the first two return airways at United North, enabling installation of primary ventilation fans starting July 2026, critical for underground safety. The Youanmi Decline portal support is complete, with 88 metres of decline stripping underway. The Pollard Decline commenced late in the quarter with 4 metres advanced. Main Pit dewatering finished, transitioning to dewatering historic underground workings. These milestones demonstrate steady progress across all planned decline systems.

Diamond Drilling Validates Grade Control and Expansion Potential at United North

Underground diamond drilling began at United North in mid-June 2026, with 1,716 metres of grade control drilling completed by quarter-end. Initial assay results released on 16 July 2026 confirmed high-grade gold intersections consistent with expectations. This program supports detailed mining planning and validates geological models from the feasibility study.

Surface infill drilling at United North and Interceptor confirmed and de-risked upper production levels, highlighting exploration upside with potential for additional stopes beyond the definitive feasibility study (DFS) mine plan. At Interceptor, drilling confirmed the DFS plan and indicated potential extensions along strike, down dip, and plunge. Underground mineralisation mapping aligns well with DFS ore zones, reinforcing confidence in the geological framework and mine planning. These results suggest opportunities to increase ore reserves and extend mine life.

Debt Facilities Secured and Strong Cash Position Bolster Project Financing

Rox Resources finalized documentation for A$350 million in debt facilities to fund Youanmi’s development and construction. The company held A$152.7 million in cash as of 30 June 2026, providing a robust financial base for the capital-intensive construction phase. Combined cash and debt resources will cover major capital works, equipment procurement, and commissioning ahead of mid-2027 production.

This A$350 million debt funding milestone reflects lender confidence in Youanmi’s viability and Rox Resources’ execution capabilities. The financing is expected to cover processing plant construction, equipment acquisition, tailings storage facility development, and working capital through to positive cash flow generation. The strong funding position reduces execution risk and offers flexibility to manage potential cost or schedule changes.

Surface Stockpile Development and Geological Validation Support Production Readiness

As underground development at United North advances, Rox Resources has begun building a surface ore stockpile from newly mined material to support the transition to operational processing. The stockpile contained 27,702 tonnes at 3.06 g/t gold as of 30 June 2026. The company targets a 190,000-tonne stockpile at 3.3 g/t gold by mid-2027 to provide feedstock during early plant operations and mitigate production variability risks.

Correlation between underground mineralisation and DFS resource estimates validates the geological model underpinning mine planning. Assay results from the July 2026 underground diamond drilling program continue to confirm expected grades and mineralisation geometry, enhancing confidence in production forecasts and mine plan reliability. These validations help de-risk startup and assure stakeholders of consistent ore quality.

Managing Director Highlights Strong Progress and Upcoming Construction Acceleration

Managing Director and CEO Phillip Wilding stated that Rox Resources made substantial progress in the June 2026 quarter following the March 2026 Final Investment Decision. He highlighted the EPC contract with Interquip and major supply agreements with Glencore Technologies and EVOL as key drivers of construction momentum. Mining operations continue to set records with all three declines underway and high-grade surface stockpiles growing.

Mr Wilding emphasized that site activity will intensify in coming months as the company advances toward production, aiming to become one of Western Australia’s next gold producers. His remarks underscore confidence in executing the development plan and achieving the mid-2027 first gold pour target through systematic contract completion, development milestones, and geological validation.

Competitive Positioning Within Western Australia’s Gold Sector

Rox Resources is progressing to production amid Western Australia’s status as a major gold mining and exploration hub. The Youanmi Gold Mine represents a greenfield-to-production transition in a historically significant gold region. Targeting mid-2027 production, Rox Resources is poised to supply an established Australian gold market with existing offtake and refining infrastructure.

The Western Australian gold sector benefits from mature supply chains for equipment, chemicals, and skilled labour. Rox Resources’ selection of experienced contractors, including global firms like Glencore Technologies, leverages regional technical expertise and proven processing technologies. Early achievement of development milestones and geological de-risking through drilling position the company competitively among Australian gold projects nearing production.

Project Risks and Execution Challenges Ahead for Youanmi

Despite significant progress, Rox Resources faces typical mining development risks during construction and commissioning. Timely fabrication, delivery, and commissioning of processing plant equipment are critical to meet the mid-2027 production target. Delays or performance issues with contractors or suppliers could extend timelines and increase costs.

The company is exposed to gold price volatility, which directly affects project economics and financial performance. Sustained low gold prices could impact returns. Operational risks include underground mining safety, ground control, and ventilation management. Coordinating simultaneous operation of three declines requires effective ventilation, water management, and planning to maintain safety and production targets. Any safety incidents or disruptions could delay production and raise operating expenses.