Gum Creek Gold Project - DFS Study Presentation
Released
Released
Announcement PDF
Definitive Feasibility Study Presentation
Gum Creek Gold Project
July 2026
ASX: HRN
horizongold.com.au
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Important Information and Disclaimer
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Disclaimer
This presentation has been prepared by Horizon Gold Limited (“HRN”, “Horizon” or “Company”). This presentation contains general and background information
about Horizon’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that
an investor should consider when making an investment decision. The information in this presentation should be read in conjunction with Horizon's other
periodic and continuous disclosure announcements lodged with ASX, available at www.asx.com.au. Certain information in this document has been derived
from third parties and though Horizon has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by
Horizon. To the extent permitted by law, Horizon and its officers, employees, related bodies corporate and agents disclaim all liability, direct, indirect or
consequential (and whether or not arising out of the negligence, default or lack of care of Horizon and/or any of its agents) for any loss or damage suffered by a
recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.
This presentation is not an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, and neither this
presentation nor anything in it shall form the basis for any contract or commitment whatsoever. This presentation is not a prospectus or other disclosure
document under the Corporations Act and will not be lodged with ASIC. This presentation is the property of Horizon and must not without the written
permission of Horizon be reproduced, stored in a retrieval system or transmitted in any form or by any method (including electronic) for any purpose, except
as expressly permitted by the Board of Directors of Horizon.
This presentation is not financial product advice, investment advice, legal, tax or other advice or a recommendation to acquire, hold or sell Horizon securities.
This presentation has been prepared without taking into account the objectives, financial situation or needs of any particular recipient. Notwithstanding the
material in this presentation, the recipients should consider that any investment in Horizon is highly speculative and should consult their professional advisors
(whether scientific, business, financial or legal) before deciding whether to make any investment in Horizon. Before making an investment decision
prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek
legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Horizon is not licensed to provide financial product advice in respect of
its securities or any other financial products. Cooling off rights do not apply to the acquisition of Horizon securities. Each recipient must make its own
independent assessment of Horizon before acquiring any securities in the Company.
The information in this presentation that relates to Horizon's production targets and financial forecasts for the Gum Creek Gold Project is extracted from
Horizon’s ASX announcement titled “Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development” dated 22 July 2026 and which is
available at www.asx.com.au. Horizon believes it has a reasonable basis for making the forward-looking statements in this presentation, including with respect
to all production targets and financial forecasts, based on the information contained in that announcement. Horizon confirms that it is not aware of any new
information or data that materially affects the production targets, or the financial forecast information, contained in that announcement of the Company’s
Definitive Feasibility Study for the Gum Creek Gold Project ("DFS”) and confirms that all material assumptions underpinning the production targets and the
financial forecast information in that announcement continue to apply and have not materially changed. Horizon confirms that it is not aware of any new
information or data that materially affects the information included in Horizon announcement on 22 July 2026 and, in the case of estimates of Ore Reserves and
Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant ASX announcements continue to apply
and have not materially changed.
All amounts are in Australian dollars unless stated otherwise.
Important Information and Disclaimer
3
Production Target
The Production Target (and forecast financial information derived from the Production Target) referred to in this presentation is underpinned by 76% Probable
Ore Reserves, 18% Indicated Resource ounces outside of the Ore Reserves and 6% Inferred Resources ounces. The first 5 years of the Production Target is
underpinned by approximately 97% Probable Ore Reserve ounces, and approximately 3% Inferred Mineral Resource ounces. There is a low level of geological
confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated
Mineral Resources or that the Production Target itself (or the forecast financial information) will be realised.
The Company believes it has a reasonable basis to disclose a production target that includes some Inferred Mineral Resources, for example as the Inferred
Resources are not a determining factor in the viability of the Gum Creek Gold Project. Importantly, the feasibility of the development scenario outlined in the
DFS does not hinge on the current Inferred Mineral Resources. Also, the Inferred Mineral Resources do not feature as a significant proportion early in the mine
plan. To achieve the range of outcomes anticipated in the DFS, an estimated A$350m of initial capital will be required. The Company believes the assumptions
made are reasonable to enable it to obtain the requisite funding required to develop the Project, as detailed in the ASX announcement titled “Gum Creek Open
Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development” dated 22 July 2026. Reference should also be made to other disclaimers included in
that announcement. Investors should note that there is no certainty that Horizon will be able to raise the amount of funding when needed (nor any certainty as
to the form such capital raising may take, such as equity, debt, hybrid and/or other capital raising, nor whether the Production Target, financial forecasts or
other forward-looking information in this announcement may be achieved). It is also possible that such funding may only be available on terms that may be
dilutive to or otherwise affect the value of Horizon’s existing shares.
Forward-looking Statements
This Presentation contains “forward-looking statements” and “forward-looking information”, including statements and forecasts which include, without
limitation, statements with respect to the DFS, Horizon’s business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections,
targets and expectations, production targets, financial forecasts, mineral resources, ore reserves, results of exploration and related expenses. Often, but not
always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “is expecting”, “budget”, “outlook”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or state that
certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Such information is based on assumptions and
judgments of management regarding future events and results. The purpose of forward-looking information is to provide the audience with information about
management’s expectations and plans. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of Horizon and/or its subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking information.
Forward-looking information and statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its
experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and
reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. Horizon believes that the assumptions and
expectations reflected in such forward-looking statements and information are reasonable. Readers are cautioned that the foregoing list is not exhaustive of all
factors and assumptions which may have been used.
Important Information and Disclaimer
4
Forward-looking Statements (Continued)
No representation, warranty or assurance, express or implied, is given or made in relation to any forward-looking statement. In particular no representation,
warranty or assumption, express or implied, is given in relation to any underlying assumption or that any forward-looking statement will be achieved. Actual
and future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements were based,
because events and actual circumstances frequently do not occur as forecast and future results are subject to known and unknown risks including but not
limited to changes in market conditions and regulations, general business, economic, competitive, political and social uncertainties; the actual results of
current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices and demand
for gold; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other
risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. This
list and the further risk factors detailed in Horizon’s announcement titled “Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine
Development” dated 22 July 2026, are not exhaustive of the factors that may affect or impact forward-looking information. These and other factors should be
considered carefully. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements, and should rely on their
own independent enquiries, investigations and advice regarding information contained in this presentation. Any reliance by a reader on the information
contained in this presentation is wholly at the reader’s own risk.
The Company and its related bodies corporate and affiliates and their respective directors, officers, employees, agents and advisors disclaim any liability for any
direct, indirect or consequential loss or damages suffered by a person or persons as a result of relying on any statement in, or omission from, this presentation.
To the maximum extent permitted by law or any relevant listing rules of the ASX, the Company and its related bodies corporate and affiliates and their
respective directors, officers, employees, agents, advisors and intermediaries disclaim any obligation or undertaking to disseminate any updates or revisions to
the information in this presentation to reflect any change in expectations in relation to any forward looking statements or any such change in events,
conditions or circumstances on which any such statements were based.
No New Information or Data
This Presentation contains references to Exploration Results, Metallurgical Results and Mineral Resource estimates, all of which have been cross referenced to
previous ASX announcements, including Mineral Resource Estimates in the Company announcements titled “Gum Creek Project Gold Resource Update” dated
4 November 2025, “19% Increase in Gold Resources at Gum Creek Project” dated 15 May 2023 and “32% Increase in Resources at Gum Creek Gold Project” dated
25 July 2022 (all available at www.asx.com.au). The Competent Persons for the announced Mineral Resources were Mr Shaun Searle (2025), Mr Grant Louw (2023)
and Mr Richard Maddocks (2022). The Company confirms that it is not aware of any additional information or data that materially affects the information
included in the relevant ASX announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters
underpinning the estimates in the relevant ASX announcement continue to apply and have not materially changed. The Company confirms that the form and
context in which the findings of the Competent Persons are presented have not been materially modified from the original ASX announcements.
Important Information and Disclaimer
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No New Information or Data (Continued)
This Presentation contains references to Ore Reserves extracted from the Company’s previous announcement titled “Gum Creek Open Pit DFS Confirms
Pathway for WA’s Next Major Gold Mine Development” dated 22 July 2026, which is available at www.asx.com.au. The Competent Person for the announced Ore
Reserves was Mr Anthony Keers. The Company confirms that it is not aware of any additional information or data that materially affects the information
included in the relevant announcements and, in the case of estimates of the Ore Reserves, that all material assumptions and technical parameters
underpinning the estimates in the relevant ASX announcement continue to apply and have not materially changed. The Company confirms that the form and
context in which the findings of the Competent Persons are presented have not been materially modified from the original ASX announcements.
Definitive-Feasibility Study
The information in this presentation that relates to the Production Target and Definitive Feasibility Study for the Gum Creek Project was reported by Horizon in
accordance with ASX Listing Rules and the JORC Code (2012 edition) in the announcement titled “Gum Creek Open Pit DFS Confirms Pathway for WA’s Next
Major Gold Mine Development” dated 22 July 2026, and for which the consent of the Competent Persons, Mr Anthony Keers and Mr Terry Weston, was
obtained. A copy of that announcement is available at www.asx.com.au. Mr Keers is Managing Director of Auralia Mining Consulting Pty Ltd and Mr Weston is a
Metallurgist and sole trader. Horizon confirms it is not aware of any new information or data that materially affects the information included in that ASX
announcement and that all material assumptions and technical parameters underpinning the production target, and the related forecast financial information
derived from the production target in that ASX announcement continue to apply and have not materially changed. Horizon confirms that the form and context
in which the Competent Person's findings are presented have not been materially modified from that ASX announcement.
Non-IFRS Financial Measures
Horizon uses certain financial measures to assess how the Gum Creek Gold Project is projected to perform. These financial measures, such as net present value
(NPV) and internal rate of return (IRR) (collectively referred to as “Non-IFRS Financial Measures”) are not recognised under International Financial Reporting
Standards (“IFRS”). Horizon considers the Non-IFRS Financial Measures provide useful information about the estimated financial forecasts derived from the
DFS, however, they should not be considered in isolation or as a substitute for measures of performance or cash flow prepared in accordance with IFRS. Since
the financial forecasts and economic discussion in this presentation are not based on IFRS, they do not have standardised definitions and the way these
measures have been derived may not be comparable to similarly titled measures used by other companies. Investors should therefore not place undue reliance
on these Non-IFRS Financial Measures.
This presentation has been authorised for release to the market by the Horizon Board.
Gum Creek Gold Project
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Large-scale, free milling open pit restart
25.1 Mt at 1.19 g/t Au for 962 Koz (mined oz)
880koz recovered over 10 years
Production target underpinned predominately by Ore Reserve
Estimate of 18.2Mt at 1.24g/t Au for 728koz contained
Open Pit Mining DFS
Shallow, free milling open pit mining for an initial Life of Mine
(LOM) of 10 years
98kozpa for the first five years
Underground mining & sulphide upside
Free milling underground resources of 416koz at 3.6g/t Au1
currently sit outside the DFS mine plan
Wilsons sulphide underground resource of 400koz at 4.3g/t Au1
currently sits outside the DFS mine plan
80km-long underexplored greenstone belt
Currently drilling at Kingfisher – historic intersections including
15m @ 28.5g/t Au, 10m @ 8.9g/t Au2
Currently drilling at Swan – historic intersections including 7.4m @
60.8g/t Au, 10.7m @ 30.1g/t Au3
1 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Project Resource Update" dated 4 November 2025
2 Refer to Horizon Gold Limited ASX announcement titled “Diamond drilling returns 15m @ 28.5g/t Au from Kingfisher" dated 12 December 2022
3 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Geological Review “ dated 15 February 2021
Open Pit DFS Highlights
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Open Pit Production Target of
25.1 Mt at 1.19 g/t Au for 962 Koz
880koz produced over 10 years
(98kozpa for first five years)
LOM free cash flow of A$1,854m
NPV5 of A$1,307m & IRR of 53.1%
Strong margin, low All-In Sustaining
Costs (AISC) of A$2,995/oz
Pre-production capex of A$350m
(incl. contingency & commissioning)
First gold production scheduled
for H2 2028
Key Study Outcomes
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Capital Costs
Pre-production
Capital
A$m 350.4
Sustaining Capital A$m 62.9
Operating Costs
Mining Costs A$/oz 1,715
Processing Costs A$/oz 730
Site G&A A$/oz 258
C1 Cash Cost A$/oz 2,702
Royalty Payments A$/oz 221
Sustaining Capital A$/oz 71
Total AISC A$/oz 2,995
Key Financial Forecasts and Assumptions
Gold Price A$/oz 5,500
Discount Rate % 5
Project Valuation
EBITDA A$m 2,268
Free Cash Flow (undiscounted and
pre-tax)
A$m 1,854
Project NPV5 (pre-tax) A$m 1,307
Project NPV5 (post-tax) A$m 894
Project IRR (pre-tax) % 53.1
Project IRR (post-tax) % 41.7
Payback Period (pre-tax) Months 23
NPV5 / Pre-pro. Cap. (pre-tax) ratio 3.7x
Key Physical Targets
Life of Mine years 10
Plant Throughput Mtpa 2.4
Mine Production
Strip Ratio x 9.6
Total Material Moved Mt 241.0
Processing Physicals
Material Processed Mt 25.1
Average Feed Grade g/t 1.19
Au Ounces Contained koz 962
Overall Plant Recovery % 91.5
Gold Production Target
(Average)
kozpa 88
Gold Production Target
(LOM)
koz 880
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Financials & Sensitivity
Base Case
Key Financial Indicator Unit A$4,000/oz A$4,500/oz A$5,000/oz A$5,500/oz A$6,000/oz A$6,500/oz A$7,000/oz
NPV5 (Pre-tax) A$m 335 659 983 1,307 1,631 1,955 2,279
IRR (Pre-tax) % 19.5 31.4 42.5 53.1 63.4 73.4 83.1
Payback (Pre-tax) Years 4.17 3.42 2.50 1.92 1.67 1.50 1.42
LOM Free Cash Flow (Pre-tax) A$m 569 998 1,426 1,854 2,283 2,711 3,139
NPV5 (Post-tax) A$m 210 440 667 894 1,121 1,347 1,574
IRR (Post-tax) % 15.1 24.7 33.5 41.7 49.7 57.3 64.8
Payback (Post-tax) Years 4.58 3.75 3.00 2.33 2.00 1.75 1.58
LOM Free Cash Flow (Post-tax) A$m 395 698 998 1,298 1,598 1,898 2,197
Open Pit Mine Plan
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A technically robust open pit mine plan
Average annual gold production of 98kozpa over the first five years, with
a life of mine production target of 880koz recovered over a 10-year mine
life based on the following mining metrics:
Open Pit Production Target: 25.1 Mt at 1.19g/t Au for 962 koz (mined oz)
880koz recovered oz
94% (905 koz) of the Open Pit Production Target is classified as
Indicated Resource or Reserve
78% (753 koz) of the Open Pit Production Target is from two
mining areas:
Gidgee Shear Zone: 12.9 Mt at 1.34g/t Au for 559 koz1
Howards: 6.2Mt at 0.97g/t Au for 194 koz1
Remaining 22% of the Production Target from within 48 km of
the proposed Gum Creek mill
Open Pit Ore Reserve Estimate: 18.2 Mt at 1.24g/t Au for 728 koz
Open Pit Ore Reserve Estimate is constrained to a A$4,500/oz
optimised pit shell
Open Pit Ore Reserve Estimate (oz) includes:
Oxide (25.2%)
Transitional (22.1%)
Fresh (52.7%)
1 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Project Resource Update" dated 4 November 2025
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Mineral Resources & Maiden Ore Reserves
Classification
Cut-off
(g/t)1
Tonnes
(Mt)
Grade
(g/t)
Au Metal
(koz)
Mineral Resources
Indicated Various1 26.7 1.9 1,629
Inferred Various1 11.3 1.86 672
Total 40 1.89 2,302
Open Pit Ore Reserves
Probable 0.3 18.2 1.24 728
Total 18.2 1.24 728
Open Pit Production Target
Indicated 0.3 23.2 1.21 905
Inferred 0.3 1.9 0.94 57
Total 25.1 1.19 962
1 Refer to Table 1 (Slide 25) for individual deposit cutoffs, Mineral Resources reported are inclusive of Open Pit Ore Reserves, and the Production Target is underpinned by the Ore Reserve and Mineral Resource estimates
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+7km long mineralised system hosting 1.05Moz at 2.17g/t Au1 adjacent to the proposed processing plant
The Gidgee Shear Zone contributes 559koz at 1.34g/t Au2 to the Open Pit Mining DFS production profile
Free milling underground resources of 416koz at 3.6g/t Au1 at Swan, Swift and Kingfisher currently sit outside the DFS mine plan
Current drilling aimed at expanding the open cut and underground gold resources (majority of drilling <100m)
Gidgee Mining Area
3D view of Main Gidgee Mining Area looking down to the northeast showing A$4,500 optimised pit shells (blue), existing haul roads (red) and MRE block models (coloured by Au g/t)
1 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Project Resource Update" dated 4 November 2025
2 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development" dated 22 July 2026
Conventional Processing
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Simple Free Milling Metallurgy
The DFS process design incorporates conventional three
stage crushing, single stage ball milling, gravity gold
recovery, Carbon in Leach (CIL), elution & smelting with the
following metrics:
Total Gold Recovery: 91.5%
Gravity Gold Recovery: 29.8%
Bond Ball Work Index: 18.3 KWh/t
Grinding Size P80 : 75 µm
Opportunity to expand to 3.0Mtpa nameplate
capacity
The crushing circuit design incorporates the
future installation of larger primary and
secondary crushers
The milling circuit design has reserved the
ground footprint for a future second mill, and
additional leach and adsorption tanks
Approvals on track for Q2 2027
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Simple Permitting Pathway on granted Mining Leases
Extensive Flora, Fauna & Heritage Surveys completed
All priority deposits lie on granted Mining Leases
The project has an approved Mining Proposal to recommence
mining and an associated clearing permit valid until 2029
The approved clearing permit allows the clearing of 100 hectares
in the central infrastructure area (near Swan-Swift) and Wilsons
Outstanding approvals for the DFS are on track to allow for a
Final Investment Decision (FID) in Q2 2027
Pathway to Production
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Note that timing may vary
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Swan Underground Upside
A large free milling high-grade
underground resource at Swan
currently sits below the DFS Pit
design
Swan Underground MRE currently stands
at 1.73Mt @ 4.19g/t Au for 233,700
ounces (57% Indicated)1
Significant amount of unmined high-
grade shoots near existing underground
mining infrastructure
Currently drilling high grade extensions of
historic intersections including2:
7.4m @ 60.8g/t Au from 48m
10.7m @ 30.1g/t Au from 33m
8.1m @ 19.2g/t Au from 107m
6.3m @ 19.1g/t Au from 229m
10m @ 15.8g/t Au from 297m
11.8m @ 5.6g/t Au from 127m
1 Refer to Horizon Gold Limited ASX Announcement titled “Gum Creek Project Resource Update” dated 4 November 2025 for further information
2 Refer to Horizon Gold Limited ASX Announcement titled “Gum Creek Review” dated 15 February 2021 & “Significant RC Drilling Results from Swan, Swift and Eagle Targets” dated 16 June 2021 for drilling intercept information.
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Kingfisher Underground Upside
A significant free-milling high-grade
resource at Kingfisher currently sits
outside the DFS Pit Design
Kingfisher Underground MRE currently
stands at 1.04Mt @ 3.38g/t Au for 113,500
ounces1
3.5 km south of the Gidgee Mill
Historical Production:
Open Pit: 265koz at 4.0g/t Au
Underground: 27koz at 14.1g/t Au
Currently drilling at depth and along strike
of existing open pit & underground
workings
1.2 km strike length with mineralisation
remaining open along strike and at depth
Exploration below the DFS pit design has
returned exceptional results, including
15m @ 28.5g/t Au from 346m2 and 4m @
11.4g/t Au from 431m3
1 Refer to Horizon Gold Limited ASX Announcement titled “Gum Creek Project Resource Update” dated 4 November 2025 for further information
2 Refer to Horizon Gold Limited ASX announcement titled “Diamond drilling returns 15m @ 28.5g/t Au from Kingfisher" dated 12 December 2022
3 Refer to Horizon Gold Limited ASX Announcement titled “High-grade intercepts returned from Kingfisher Diamond Drilling” dated 23 February 2026
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Wilsons Underground Upside
A large, high-grade underground sulphide resource at Wilsons currently sits
outside the DFS mine plan
Wilsons Underground MRE stands at 2.9Mt at 4.31g/t Au for 400koz (97% Indicated)1
Total sulphide material in the Gum Creek MRE comprises 9.3Mt at 2.3g/t Au for 698koz 1 and
currently sits outside the DFS mine plan
Metallurgical test work has delivered strong gold recoveries of 87-90% using conventional
processing routes for refractory mineralisation
Studies ongoing to assess the potential of the Gum Creek refractory mineralisation
1 Refer to Horizon Gold Limited ASX Announcement titled “Gum Creek Project Resource Update” dated 4 November 2025.
Refer to Panoramic Resources Limited ASX Announcements titled “Corporate Strategy and positive gold results” dated 27 June 2016 for metallurgy information & “Quarterly Report for the period ending 30 September 2013” dated 21
October 2013 for cross section info.
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Upside Opportunities
Optionality to consider low
capex early starter options
Active drilling aimed at expanding
free milling underground
resources of 416koz at 3.6g/t Au1
Open Pit DFS excludes Wilsons
underground resource of
400koz at 4.3g/t Au1
80km long greenstone belt with
over 37 deposits open along
strike and at depth
Plant expandability to 3.0Mtpa
nameplate free milling capacity
Regional consolidation of the
Gum Creek greenstone belt and
broader region
1 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Project Resource Update" dated 4 November 2025
Investment Highlights
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Large-scale, free milling open pit restart
Current mineral resource of 37.97Mt at 1.89g/t Au for 2.30Moz (71% indicated)1 on granted mining leases
Maiden open pit ore reserve of 18.2Mt at 1.24g/t Au for 728koz and open pit production target of 25.1Mt at 1.19g/t Au for 962koz
(mined oz) / 880koz recovered oz
Material exploration upside targeting higher grade intersections
Significantly underexplored 80km-long project strike, focused on open pittable and high-grade underground resources
Drilling at Kingfisher – extensive high grade intersections below the DFS pit including 15m @ 28.5g/t Au, 4m @ 11.4g/t Au2
Drilling at Swan – high grade intersections below the DFS pit including 7.4m @ 60.8g/t Au, 10.7m @ 30.1g/t Au, 8.1m @ 19.2g/t Au3
Approvals on track for Q2 2027
Well advanced on flora, fauna and heritage surveys to allow a Final Investment Decision (FID) in Q2 2027
Existing permits allow for low capex early starter options if necessary
Underground mining & sulphide upside
Free milling underground resources of 3.6Mt at 3.6g/t Au for 416koz1 currently sit outside the open pit DFS mine plan
Wilsons underground resource of 2.9Mt at 4.31g/t Au for 400koz1 & total sulphide resources of 9.3Mt at 2.3g/t Au for 698koz1
currently sit outside the DFS mine plan
Experienced Board and Technical Team
Led by seasoned mining executives with deep exploration, development, and corporate experience
1 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Project Resource Update” dated 4 November 2025
2. Refer to Horizon Gold Limited ASX announcement “Diamond drilling returns 15m @ 28.5g/t Au from Kingfisher" dated 12 Dec 2022 & ASX announcement “High-grade intercepts returned from Kingfisher Diamond Drilling” dated 23 Feb 2026
3. Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Geological Review “ dated 15 February 2021
CONTACT US
Scott Williamson
Managing Director and CEO
info@horizongold.com.au
ASX: HRN
horizongold.com.au
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Board and Management
Peter Sullivan
Non-Executive Chairman
• Engineer with an MBA and 30+ years' experience
across project engineering, corporate finance,
investment banking, and public company
directorships in resource development
• Non-Executive Chairman of Alliance Nickel Limited
Scott Williamson
Managing Director and CEO
• Experienced Mining Engineer with a background in
operations management with global experience in a
variety of commodities, including gold and base metals
• Leadership has been crucial in the advancement of
exploration, mining practices and stakeholder
engagement
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Directors Key Management
Peter Venn
Non-Executive Director
• Geologist with 32+ years' resources
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