Historic Drilling Highlights 40m at 2.49g/t Au at Mt Monger

Strategic Pivot to Gold in Western Australia

Evergreen Lithium has announced a decisive shift towards gold exploration with its Mt Monger Gold Project, located approximately 70 kilometres southeast of Kalgoorlie. Following an extensive site review and due diligence fieldwork, the company has identified multiple high-quality drill targets that promise to unlock significant value. This move aligns with the Board’s ambition to establish Evergreen as an emerging gold producer in one of the world’s most prolific gold belts.

Compelling Historic Drilling and Infrastructure Advantages

The Mt Monger Project encompasses four key prospects; Duchess of York, Kiaki Soaks, Hickman’s Find, and Red Dale North; each demonstrating notable historic gold mineralisation. Highlights include intercepts such as 40 metres at 2.49 grams per tonne gold at Kiaki Soaks and multiple high-grade zones at Duchess of York, including 3 metres at 17.6 grams per tonne. These results, while historic, have not been fully followed up, presenting Evergreen with attractive upside potential.

Crucially, the project benefits from exceptional infrastructure proximity. It lies within 5 kilometres of Vault Minerals’ Randalls Gold Mill, with additional mills and six operating gold mines within a 25-kilometre radius. This infrastructure footprint significantly reduces capital intensity and offers flexible options for toll treatment or rapid project development.

Focus on Duchess of York and Expanding Drill Targets

The Board has prioritised the Duchess of York Prospect as the immediate focus for exploration. The prospect sits on a structurally complex shear zone with multiple stacked lodes and evidence of high-grade shoots. Recent field reconnaissance confirmed extensive quartz veining and historic mining activity, suggesting untapped extensional targets. Evergreen plans to build on legacy drilling with a systematic program designed to rapidly increase confidence in the resource potential.

Beyond Duchess of York, the Kiaki Soaks Prospect stands out with strong intercepts beneath transported cover, indicating a largely untested bedrock system. Similarly, Hickman’s Find and Red Dale North offer significant exploration upside, with shallow historic drilling and placer gold potential. A comprehensive geophysical campaign is expected to refine and expand drill-ready targets across the tenure.

Next Steps and Market Implications

Evergreen is advancing key approvals and logistics to commence its inaugural drilling campaign, aiming to validate and extend known mineralisation. The company’s geological team is also prioritising early-phase targets for ground-truthing and soil sampling to build a robust pipeline of opportunities. This strategic acceleration underscores Evergreen’s commitment to creating shareholder value through disciplined exploration and development in a proven gold district.