Summary of Gold Mineral Resources
Confirmation
The information in this report that relates to Horizon’s Mineral Resources estimates is extracted from and was originally reported in Horizon’s ASX announcements “Intermin’s Mineral Resources Grow 30% to over 560,000 Ounces”, (ASX:IRC) (Teal) dated 19 September 2018, “Gold resources increase to 1.24moz” (Coote, Capricorn, Baden Powell) dated 28 September 2022 , “Rose Hill firms as quality high grade open pit and underground gold project” dated 8 December 2020, “Pennys Find Resource Update” dated 29 December 2023, “Updated Crake Resource improves in quality” dated 7 September 2021, “Jacques Find- Peyes Farm Mineral Resource update” dated 15 September 2021, “Asset Swap with Northern Star Completion”, dated 20 December, 2019, “Investor Presentation June 2022”, 31 May 2022, “Maiden Resources for Monument and Golden Ridge North”, 19 July 2023 and “Kalpini Gold Project Mineral Resource Update” dated 28 September 2021, each of which is available at www.asx.com.au. Horizon Minerals resources at Burbanks were originally reported by Greenstone Resources (GSR) in “Global Gold Resource Increases 57% to 520,134 oz”, on 5 July 2023. Horizon Minerals resources at Phillips Find were originally reported by Greenstone Resources (GSR) in “Interim Update Increases Resource by 128% to 332,114 oz”, on 20 September 2022.
Summary of non-Gold Mineral Resources
NIMBUS SILVER – ZINC PROJECT
Nimbus All Lodes (bottom cuts 12g/t Ag, 0.5% Zn, 0.3g/t Au) – Includes Stockpiles
Nimbus high grade silver zinc resource (500g/t Ag bottom cut and 2,800g/t Ag top cut)
The information is this report that relates to Horizon’s Mineral Resources estimates on the Nimbus Silver Zinc Project is extracted from and was originally reported in Intermin’s and MacPhersons’ ASX Announcement “Intermin and MacPhersons Agree to Merge – Creation of a New Gold Company Horizon Minerals Ltd” dated 11 December 2018 and in MacPhersons’ ASX announcements “Quarterly Activities Report” dated 25 October 2018, “New High Grade Nimbus Silver Core Averaging 968 g/t Ag” dated 10th May 2016 and “Nimbus Increases Resources” dated 30th April 2015, each of which is available at www.asx.com.au.
NICKEL PROJECTS
The Total Nickel sulphide resource includes 18,300t Co metal.
Horizon Minerals’ Nickel Resources were originally reported in the ASX announcement “Group Mineral Resources Statement”, 29 April 2025
COMPETENT PERSON’S STATEMENT
Boorara
The information in this announcement which relates to Exploration Results and geological interpretation at Boorara is based on information compiled by Horizon Minerals Limited under the supervision and review of Mr Stephen Godfrey Resource Development Manager at Horizon Minerals Ltd, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusImm 110542) and a Member of the Australian Institute of Geoscientists (MAIG 3993). Mr Godfrey consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears. The information in this announcement which relates to the estimation of the Boorara mineral resource was compiled by Mr Mark Drabble. Mr Drabble is a Principal Geological Consultant at Optiro Pty Ltd. and an independent consultant to Horizon Minerals Ltd (HRZ) and is responsible for the Mineral Resource Estimation. Mr Drabble is a Member of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Messrs Godfrey and Drabble have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Messrs Godfrey and Drabble consent to the inclusion in the report of matters based on his information in the form and context in which it appears.
Golden Ridge
The information in the report to which this statement is attached that relates to the Estimation and Reporting of Gold Mineral Resources at the Golden Ridge North and Monument deposits is based on information compiled by Mr Stephen Godfrey, a Competent Person, who is a current Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM 110542) and Member of the Australian Institute of Geoscientists (MAIG 3993).
Mr Godfrey is the Resource Development Manager for Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion in the report of matters based on the information in the form and context in which it appears.
Cannon
The information in the report related to the Cannon Mineral Resource estimate is based on work completed by Mr Dave O’Farrell: BSc (Hons), MAusIMM, Exploration Manager for Horizon Minerals Ltd and Mr Stephen Godfrey: BSc (Hons), FAusIMM, MAIG, Resource Development Manager for Horizon Minerals Ltd. Mr O’Farrell was responsible for compiling and reviewing the drilling, sampling and quality data for the Cannon deposit. Mr Godfrey was responsible for the review and update of the geological model, mineralisation interpretations, resource estimation, classification and reporting.
Messrs O’Farrell and Godfrey have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr O’Farrell and Mr Godfrey consent to the inclusion in the report of matters based on their information in the form and context in which it appears.
This MRE includes Inferred Mineral Resources, which are unable to have economic considerations applied to them, nor is there certainty that further sampling will enable them to be converted to Indicated or Measured Mineral Resources.
Pennys Find
The information in the report to which this statement is attached that relates to the Estimation and Reporting of Underground Gold Mineral Resources at the Pennys Find deposit is based on information compiled by Mr Stephen Godfrey, a Competent Person who is a current Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM 110542) and Member of the Australian Institute of Geoscientists (MAIG 3993). Mr Godfrey is the Resource Development Manager for Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion in the report of matters based on the information in the form and context in which it appears.
Kalpini
The information in this report related to the Kalpini Mineral Resource estimate is based on work completed by Mr Dave O’Farrell: BSc (Hons), MAusIMM, Exploration Manager for Horizon Minerals Ltd and Mr Stephen Godfrey: BSc (Hons), FAusIMM, MAIG, Resource Development Manager for Horizon Minerals Ltd. Mr O’Farrell was responsible for drilling, sampling and data quality at the Kalpini deposits. Mr Godfrey was responsible for the development of the geological model, mineralisation interpretations, resource estimation, classification and reporting.
Messrs O’Farrell and Godfrey have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr O’Farrell and Mr Godfrey consent to the inclusion in the report of matters based on their information in the form and context in which it appears.
This MRE includes Inferred Mineral Resources, which are unable to have economic considerations applied to them, nor is there certainty that further sampling will enable them to be converted to Indicated or Measured Mineral Resources.
Jacques Find – Peyes Farm
The information in this report related to the Jacques Find – Peyes farm Mineral Resource estimate is based on work completed by Mr Dave O’Farrell: BSc (Hons), MAusIMM, Exploration Manager for Horizon Minerals Ltd and Mr Mark Drabble: B.App. Sci. (Geology), MAusIMM, MAIG, Principal Consultant at Optiro Pty Ltd. Mr O’Farrell was responsible for database and data quality at the Jacques Find and Peyes Farm deposits. Mr Drabble was responsible for the development of the geological model, mineralisation interpretations, resource estimation, classification and reporting.
Mr O’Farrell and Mr Drabble have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr O’Farrell and Mr Drabble consent to the inclusion in the report of matters based on their information in the form and context in which it appears.
Coote
The information in the report to which this statement is attached that relates to the Estimation and Reporting of Gold Mineral Resources at the Coote deposit is based on information compiled by Mr Stephen Godfrey, a Competent Person, who is a current Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM 110542) and Member of the Australian Institute of Geoscientists (MAIG 3993).
Mr Godfrey is the Resource Development Manager for Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion in the report of matters based on the information in the form and context in which it appears.
Mr Godfrey undertook a site visit to the Coote deposit on 19 July 2022 to inspect the Coote prospect and has regularly reviewed and inspected the drilling and sampling protocols and practice during Horizon Drill programs. No material issues or risks pertaining to the MRE update were identified, observed, or documented during the visit.
Burbanks and Phillips Find
The information in this report which relates to Exploration Results and geological interpretation at Burbanks is based on information compiled by Mr Glenn Poole an employee of Horizon Minerals Limited and who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Poole consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
The information in the report to which this statement is attached that relates to the estimation and reporting of global gold Mineral Resources at the Phillips Find deposits and Burbanks deposits is based on information compiled by Mr Glenn Poole, BSc, a Competent Person and a current Member of the Australian Institute of Mining and Metallurgy (AuslMM 317798). Mr Poole is Chief Geologist at Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Poole consents to the inclusion in the report of matters based on his information in the form and context in which it appears.
Black Swan
Black Swan Resource
The information in this report that relates to Exploration Targeting and Results at Black Swan is based on, and fairly represents, information compiled and reviewed by Mr John Hicks, who is an Independent Geological Consultant to Poseidon Nickel, and a Member of the Australasian Institute of Mining and Metallurgy and Ms Karyn Parker, who is an employee of Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists.
The information in this report which relates to the Black Swan Mineral Resource is based on, and fairly represents, information compiled by Mr Richard Gaze and Mr Drew Luck. Mr Gaze is Technical Director and full-time employee of WSP Australia Pty Limited based in Perth WA and is a Member of the Australasian Institute of Mining and Metallurgy. Mr Luck is a Senior Geologist and full-time employee of WSP Australia Pty Limited based in Brisbane QLD and is a Member of the Australasian Institute of Mining and Metallurgy.
Ms Parker, and Messrs Hicks, Gaze and Luck have sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code 2012). Ms Parker and Messrs Hicks, Gaze and Luck consent to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Silver Swan Resource
The information in this report that relates to Exploration Targeting and Results at Silver Swan is based on, and fairly represents, information compiled and reviewed by Mr Andrew Pearce, who is an employee of Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists.
The information in this report which relates to the Silver Swan Mineral Resource is based on, and fairly represents, information compiled by Mr Andrew Pearce, Exploration Manager, who is a full-time employee at Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists and Mr Ian Glacken who is a full time employee of Snowden Optiro Pty Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy.
Mr Pearce and Mr Glacken have sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code 2012). Mr Pearce and Mr Glacken consent to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Golden Swan Resource
The information in this report that relates to Exploration Targeting and Results at Golden Swan is based on, and fairly represents, information compiled and reviewed by Mr Andrew Pearce, who is an employee of Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists.
The information in this report which relates to the Golden Swan Mineral Resource is based on, and fairly represents, information compiled by Mr Andrew Pearce, Exploration Manager, who is a full-time employee at Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists and Mr Ian Glacken who is a full time employee of Optiro Pty Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy.
Mr Pearce and Mr Glacken have sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code 2012). Mr Pearce and Mr Glacken consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Silver Swan Tailings Resource
The information in this report that relates to the Silver Swan Tailings Mineral Resource is based on, and fairly represents information complied by Mr Ian Glacken, who is a full-time employee of Optiro Pty Ltd, an independent consultant to Poseidon Nickel Ltd.
Mr Glacken has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code 2012). Mr Glacken has consented to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Stockpiles Resource
The information in this report which relates to the Black Swan Stockpile Mineral Resource is based on information compiled by Andrew Weeks who was a full-time employee of Golder Associates Pty Ltd, and Member of the Australasian Institute of Mining and Metallurgy. Andrew Weeks has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012).
Lake Johnston
The information in this report which relates to the Maggie Hays Mineral Resource is based on information compiled by Andrew Weeks who was a full-time employee of Golder Associates Pty Ltd, and Member of the Australasian Institute of Mining and Metallurgy. Andrew Weeks has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012).
Windarra
Mt Windarra
The information in this report that relates to the Windarra Nickel Project, Mineral Resources is based on information compiled by Neil Hutchison, General Manager of Geology at Poseidon Nickel, who is a Member of The Australian Institute of Geoscientists and Ian Glacken who was a full time employee of Optiro Pty Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy.
The information in this report that relates to Ore Reserves at the Windarra Nickel Project is based on information compiled by Denis Grubic, who is a Member of The Australasian Institute of Mining and Metallurgy as well as a full time employee of Rock Team Pty Ltd.
This document contains Mineral Resources and Ore Reserves which are reported under JORC 2004 Guidelines as there has been no Material Change or Re-estimation of the Mineral Resource or Ore Reserves since the introduction of the JORC 2012 Codes. Future estimations will be completed to JORC 2012 Guidelines.
Other
Information that relates to exploration results is based on information compiled by David O’Farrell who is the Exploration Manager of Horizon Minerals. Mr O’Farrell is a Member of The Australian Institute of Mining and Metallurgists (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking, to qualify as Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr O’Farrell consents to the inclusion in the document of the information in the form and context in which it appears.
FORWARD LOOKING AND CAUTIONARY STATEMENTS
Some statements in this report regarding estimates or future events are forward looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward looking statements may be affected by a range of variables that could cause actual results to differ from estimated results and may cause the Company’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licenses, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for among other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rate, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward looking statements will prove to be correct.
Statements regarding plans with respect to the Company’s mineral properties may contain forward looking statements in relation to future matters that can only be made where the Company has a reasonable basis for making those statements.
Announcements have been prepared in compliance with the JORC Code (2012) and the current ASX Listing Rules.
The Company believes that it has a reasonable basis for making the forward-looking statements in the announcements, including with respect to any production targets and financial estimates, based on the information contained in all ASX announcements.