Capricorn Metals Ltd

Capricorn Metals Ltd (ASX: CMM) is an Australian based gold producer headquartered in Perth, Western Australia. The Company operates within two distinct project areas within Western Australia, with a total resource base of 6.6 million ounces and reserves of 4.0 million ounces. Its Karlawinda Gold Project, located 65 kilometres south-east of Newman in the Pilbara region, has been operational since June 2021. The Mt Gibson Gold Project, acquired in July 2021, is a development project located in the Mid-West region of WA, 280 kilometres north-east of Perth.

Capricorn Metals Ltd is an Australian based gold producer headquartered in Perth, Western Australia, operating within two distinct project areas within Western Australia. The Karlawinda Gold Project, located 65 kilometres south-east of Newman in the Pilbara region, has been operational since June 2021. Karlawinda was built in less than 18 months, delivered on budget, and seamlessly transitioned into full production; in its first quarter of production, ending September 2021, the operation produced 24.3koz at an AISC of less than $1,200 per ounce. The Mt Gibson Gold Project was acquired in July 2021 and is a development project located in the Mid-West region of WA, 280 kilometres north-east of Perth. Mt Gibson has been the subject of concerted exploration drilling and environmental surveys since acquisition. A pre-feasibility study completed in April 2023 and updated in November 2024 confirmed the project as a robust, large-scale, low-cost operation, underpinned by a growing reserve base of 2.7 million ounces. Capricorn is well positioned, with strong and reliable cash flows from Karlawinda and an exciting growth opportunity at Mt Gibson, supported by a total Company reserve base of 4.0 million ounces.

A compelling opportunity in the Australian gold sector, with a consistent focus on high-margin assets and shareholder returns.

• Gold

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2. 2About Us | Capricorn Metalscapmetals.com.au
3. 3Our Leadership | Capricorn Metalscapmetals.com.au
4. 4Corporate Governance | Capricorn Metalscapmetals.com.au