Everest Metals Reports 48,500oz Gold Resource and World-Class Rubidium Deposit

Near-Term Gold Production on Track

Everest Metals Corporation is accelerating its journey to gold production with the Mt Dimer Taipan project in Western Australia. The project boasts a JORC-compliant inferred resource of approximately 48,500 ounces of gold and 89,000 ounces of silver, situated on a granted mining lease with approvals secured. The company has arranged a toll treatment processing agreement set to commence in the third quarter of 2025, with mining activities slated to begin in the fourth quarter. This low-risk approach leverages existing processing infrastructure, aiming to deliver near-term cash flow and unlock value from a historically productive gold system.

Revere Gold Project – High-Grade Potential Emerges

Complementing Mt Dimer, the Revere Gold Project is strategically located along the gold-rich Andy Well Greenstone Shear System. Recent drilling and bulk sampling have revealed high-grade gold mineralisation, with assays reaching up to 85.1 grams per tonne. The project is advancing towards a maiden JORC resource estimate expected in the third quarter of 2025. Metallurgical testing has demonstrated excellent gold recovery rates, and the company is progressing negotiations with native title groups, signaling readiness for development. The Revere project’s saddle reef system shows promise for scalable, environmentally friendly gravity processing of coarse gold.

Pioneering Australia’s Rubidium Industry at Mt Edon

Perhaps most notably, Everest Metals is pioneering the development of Australia’s first rubidium industry through its Mt Edon Critical Mineral Project. Located 420 kilometres north of Perth, Mt Edon hosts a world-class inferred JORC resource of 3.6 million tonnes grading 0.22% rubidium oxide and 0.07% lithium oxide. The resource remains open for expansion, with further drilling planned. The company has successfully produced high-purity rubidium chloride in laboratory tests, achieving up to 97% recovery, and filed a provisional patent for its direct rubidium extraction process. A pilot plant is scheduled for construction in 2026, aiming to scale up production and establish a downstream processing hub.

Strategic Importance and Industry Recognition

Rubidium is classified as a critical mineral by several countries, including the USA, Japan, and New Zealand, due to its essential applications in quantum computing, aerospace, telecommunications, and defense technologies. Everest Metals’ membership in the U.S. Defense Industrial Base Consortium underscores the strategic significance of its Mt Edon project. The company’s integrated approach, from resource development to pilot plant construction, positions it uniquely to meet growing demand for this rare and reactive element.

Financial and Corporate Position

As of June 2025, Everest Metals holds a market capitalisation of approximately $31 million, with $2.1 million in cash and no debt, reflecting a solid financial footing to support its development plans. The company’s leadership team, including Executive Chair and CEO Mark Caruso and Chief Geologist Bahman Rashidi, bring extensive experience in gold and critical minerals exploration and development. With multiple projects advancing in parallel, Everest Metals is poised to deliver value across both traditional and emerging mineral sectors.