Apollo Hill Gold Resource Grows 10% to 2.24Moz with 82% Measured and Indicated

Resource Upgrade Signals Growing Confidence

Saturn Metals Limited has delivered another robust quarter, announcing a significant upgrade to its flagship Apollo Hill Gold Project in Western Australia. The company’s Mineral Resource now stands at 2.24 million ounces of gold, a 10% increase from earlier this year, with an impressive 82% of the resource classified as Measured and Indicated. This classification upgrade reflects higher confidence in the resource’s quality and quantity, providing a stronger foundation for advancing the project.

The resource estimate is based on a cut-off grade of 0.20 grams per tonne gold and incorporates a constraining pit shell developed using a conservative gold price assumption of A$3,550 per ounce. The near-surface nature of much of the resource supports a low-cost bulk mining and heap leach processing approach, which remains central to Saturn’s development strategy.

Drilling Highlights Expand Growth Potential

During the quarter, Saturn reported a series of strong drill intersections at the southern end of Apollo Hill, particularly at the newly delineated Iris Zone and the Tefnut prospect. These results revealed thick, structurally focused zones of high-grade gold mineralisation, extending the known footprint of the deposit and highlighting additional exploration upside. Notable intercepts include 11 meters at 6.29 grams per tonne gold and 10 meters at 6.11 grams per tonne, underscoring the potential for further resource expansion.

The drilling program, comprising nearly 56,000 meters of Reverse Circulation and diamond drilling, continues to refine geological understanding and supports ongoing resource growth. Saturn plans to continue targeting these promising structures in the coming months, aiming for another resource update in the first half of 2026.

Advancing Towards Pre-Feasibility and Ore Reserve

Saturn is progressing steadily towards completing a Pre-Feasibility Study (PFS) and announcing its maiden Ore Reserve by the end of 2025. The PFS will integrate the upgraded resource base with detailed metallurgical, engineering, and environmental studies. Ongoing metallurgical test work focuses on heap leach recovery optimization, while environmental and permitting activities continue to advance without major concerns to date.

Engineering studies led by Kappes Cassiday & Associates are refining process design and mining plans, with a view to establishing a large-scale, long-life, and financially robust gold operation. The company is also exploring alternative mining and processing scenarios to optimize project economics.

Strong Financial Position Supports Growth

Financially, Saturn Metals ended the quarter with a healthy cash balance of $22.08 million. Shortly after quarter-end, the company successfully completed a $45 million capital raising through a well-supported institutional placement. This infusion of capital will underpin ongoing exploration, development, and feasibility activities at Apollo Hill and other projects.

Saturn also maintains a substantial land position in Western Australia, with nearly 1,900 square kilometers of contiguous tenements around Apollo Hill, as well as exploration interests in New South Wales at the West Wyalong Project. The company’s broad portfolio offers multiple avenues for future growth beyond the flagship project.

Looking Ahead

With resource upgrades, strong drill results, and a solid financial footing, Saturn Metals is well positioned to advance Apollo Hill towards development. The upcoming Pre-Feasibility Study and maiden Ore Reserve announcement will be key milestones to watch. Meanwhile, ongoing exploration and engineering work continue to build the case for a significant new gold mining operation in Western Australia.