Auric Mining Limited

Munda Gold Project

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The Munda Gold Mine is Auric’s major asset and plays a significant role in their strategy for gold production. With a mineral resource of 145,000 ounces of gold, it represents a considerable part of Auric’s portfolio. The current focus on the Starter Pit, aimed at producing 6,100 ounces from 125,000 tonnes mined, is just the beginning of a larger plan to maximize the mine’s output and profitability.

The project’s economics are robust. After completion of a Starter Pit in the second half of 2025, the Company will then conduct a geotech assessment of the project and a comparison of the effectiveness of its grade control compared to actual results. This will give the team a solid basis for mining a main pit in 2026 and onwards. The parameters of a main pit will determine how much of the 145,000 ounces of resources can be extracted during the full mining of Munda.

After two years of grade control drilling and extensive planning the commencement of mining Munda is underway. Final approvals have now been given with mining. Auric is conducting the project in its own right and has dry hired all equipment for a Starter Pit operation.

During the past six months it has added to its geological team and engaged a site senior executive and administrative staff. All equipment will be operated by Auric staff and a fully equipped and catered for mine camp has been established 6kms from the mine site which will accommodate up to 12 people.

Between November 2023 and January 2024 a total of 361 holes were drilled at The Munda Gold Deposit over a 10m x 10m grid pattern.⁷

The drilling confirmed to Auric broad gold mineralisation with highest hits of 321 g/t Au and 17m at 17.6 g/t Au. The deposit is geologically complex and the company has opted to commence a starter pit, in the first quarter of 2025 to further bolster its confidence for full scale mining later in 2025 and onwards.

Munda Gold Project

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