Hanwang Gold Obtains Key Permit for Mt Bundy Gold Project, Commences Mill Site Clearance Operations

Hanwang Gold Receives Key Permit for Mt Bundy Gold Mine Project, Initiates Plant Site Clearance Operations

On July 24, 2026, Hanwang Gold International Limited (Stock Code: 03788.HK, hereinafter referred to as "Hanwang Gold" or the "Company") is pleased to announce that it has received a permit from the Northern Territory Government's Department of Land, Planning and Environment for site clearance operations for the concentrator plant at the Mt Bundy Gold Mine project, as well as an authorization notice from the Department of Mines and Energy to commence mining operations.

Furthermore, the Company obtained environmental approval for underground mining in 2020, and in 2023, secured environmental approvals for the open-pit mine, the concentrator plant, and supporting facilities. Within the scope of the existing mining license, the Mt Bundy Gold Mine project holds gold resources of 3.47 million ounces with an average grade of 0.68 grams per tonne; and gold reserves of 1.88 million ounces with an average grade of 0.76 grams per tonne.

Dr. Qiu Yumin, Executive Director, Chief Executive Officer, and President of the Company, stated: "The timely issuance of the aforementioned permits by the relevant government departments in the Northern Territory enables us to initiate the construction of the concentrator plant for the Mt Bundy Gold Mine project, including the construction of the ore stockpile. We sincerely thank the Company's technical team and all departments of the Northern Territory Government, especially the Department of Land, Planning and Environment and the Department of Mines and Energy, for their extensive efforts."

Following the receipt of the approvals, we have immediately commenced site clearance operations. While preparing the bidding documents for mining, the Company has also issued invitations to qualified mining bidders. The Company plans to begin concentrator plant construction in the third quarter of 2026 and start gold production in the first quarter of 2028."