New Murchison Gold Limited Updated Mineral Resource Estimate for Garden Gully Gold Project

New Murchison Gold Limited is pleased to announce a significant, JORC-compliant update to the Mineral Resource Estimate at its flagship Garden Gully Gold Project, located near Meekatharra, Western Australia.

The global Garden Gully Gold Project Mineral Resource Estimate has increased by 47%, expanding to a total remaining resource of 4.42 Mt at 2.5 g/t Au for 359,000 ounces of contained gold.

This represents a 29% increase over the November 2024 estimate, or a 47% total increase when including full, reconciled production mining up to April 1, 2026.

Combined Measured and Indicated categories account for 71% of the global project ounces, ensuring excellent local grade predictability for near-term mine planning.

Highlights:

• The global Garden Gully Gold Project Mineral Resource Estimate has increased by 47%, expanding to a total remaining resource of 4.42 Mt at 2.5 g/t Au for 359,000 ounces of contained gold.
• This represents a 29% increase over the November 2024 estimate, or a 47% total increase when including full, reconciled production mining up to April 1, 2026.
• Combined Measured and Indicated categories account for 71% of the global project ounces, ensuring excellent local grade predictability for near-term mine planning.
• Crown Prince Open Pit Measured Resource component of 39 koz at 3.83 g/t Au, providing immediate, low-risk mill feed.
• MRE beyond optimized pit shell estimated as Underground component at 1.2 g/t Au cut-off.
• Cloudkicker adds 31 koz to global inventory with 80% classified as indicated, yielding 25 koz at 2.3 g/t Au.
• Lydia Maiden MRE of 55 koz at 1.78 g/t Au.
• Abbotts Maiden MRE of 44 koz at 1.75 g/t Au.
• The Cloudkicker and Lydia deposits are located within 800 m of the active Crown Prince hub. This immediate proximity allows both satellite assets to directly leverage existing haul roads, established site facilities, and current operational personnel, enabling rapid, low-capital development with zero infrastructure drag.

Garden Gully Gold Project MRE Summary:

Tons are reported In-situ only. Depleted to April 1, 2026 mined surface. Total resource with variable cut-off grade, OP 0.5 g/t and UG 1.2 g/t Au. Rounding error may occur.

This update integrates the project's most advanced mineral assets, combining refined modelling from existing production areas with maiden resource inventories. Individual estimates were compiled by leading independent consultancies, incorporating NMG’s updated structural interpretations and latest drilling data:

• Stokes Geoscience: Updated estimates for the active Crown Prince operation and the Cloudkicker deposit, alongside the maiden MRE for Lydia.
• Widenbar and Associates: Compiled the maiden MRE for the Abbotts deposit.

By incorporating the Lydia and Abbotts assets for the first time, this global update significantly expands NMG's production pipeline and underscores the scaling potential of the Garden Gully goldfield.

When isolating the Crown Prince and Cloudkicker deposits, which comprised the entirety of the previous November 2024 model, the updated 2026 MRE achieved an 18% and 22% increase in contained gold ounces at the 1.2 g/t Au and 0.5 g/t Au cut-off grades respectively within the combined Measured and Indicated resource classifications.

Since the 2024 Crown Prince MRE, the exploration and mining teams have followed up on infill and extensional targets and carried out tighter spaced grade control campaigns to increase resource confidence. Since the 2024 MRE, 738 holes have been drilled and the new drilling has led to an expanded and improved geological model.

Cloudkicker was first drilled in 2013 to 2014 and then returned to in 2020 to 2024, under NMG, to develop geological interpretations and define extents.

Lydia has undergone multiple phases of exploratory and definition drilling since acquisition by NMG in 2016. Drilling has delineated mineralization and extended known depth and along strike of main structure.

Abbotts has remained undeveloped beyond historical small scale mining period of 1897 to 1908. Exploration was carried out by multiple entities 1973 to 2020 until NMG 2020 to 2026.

The prospects of Garden Gully located on the Abbotts Greenstone Belt share the same setting and structural controls on mineralization. Mineralization is hosted within quartz-carbonate veins within altered and sheared mafic units. Primary mineralization is not closed out along strike or depth.

Crown Prince OP is in active production, nearing completion of stage 1. Estimations have adopted current practice of conventional open pit mining method using backhoe excavators and rigid dump trucks as the preferred mining method for all deposits outside of proposed Crown Prince UG.

Crown Prince UG will be mining using conventional long hole stoping, underground loaders and underground haul trucks.

Mined ore will be treated and processed at Westgold’s Bluebird gold treatment plant.

The Company plans to use the MREs to underpin feasibility studies and optimization of OP and UG. Infill and extensional drilling to expand resource where still open and to improve classification categories.

New Murchison Gold Limited is a mineral exploration and gold mining company which holds a substantial package of tenements in the prolific Murchison goldfield near Meekatharra, Western Australia.

The Company is focused on the Garden Gully Gold Project which comprises a 619 km² tenure package covering the Abbotts Greenstone Belt and other key regional structures. The Company operates the Crown Prince Gold Mine and has multiple gold deposits along the belt.

Gold mineralization in the belt is controlled by major north trending structures and contact zones between felsic and mafic metamorphosed rocks.

As announced 25 June 2025, the Company made a decision to develop the Crown Prince Gold Mine and completed its first blast on 30 June 2025. NMG commenced production in September 2025. NMG updated its Mineral Resource Estimate and Ore Reserve Estimate in December 2025.