Xanadu Mines Advances Kharmagtai JV with Zijin, Eyes Strategic Funding Moves

• Kharmagtai Pre-Feasibility Study and Maiden Ore Reserve delivered, triggering JV operatorship transfer to Zijin
• Xanadu holds two put options to sell part or all of its Kharmagtai interest, currently under exclusivity discussions with Zijin
• Completed placement of over 26 million shares to Zijin’s subsidiary, strengthening strategic partnership
• Well-funded with A$3.73 million cash as of March 31, 2025, preparing for Bankable Feasibility Study