Mt Solitary Drilling Yields High-Grade Gold Intercepts; Phase 2 Starts December

Exploration Progress at Mt Solitary

Mount Hope Mining (ASX – MHM) has provided a comprehensive update at its 2025 Annual General Meeting, highlighting significant progress in its exploration activities within the southern Cobar Basin, New South Wales. The company has completed Phase 1 drilling at the Mt Solitary gold target, delivering encouraging intercepts such as 19 meters at 4.5 grams per tonne gold from 39 meters depth. These results underpin an exploration target of 1.3 to 1.8 million tonnes grading between 1.0 and 1.35 grams per tonne gold, translating to an estimated 42,500 to 81,400 ounces of gold.

Phase 2 drilling is slated to commence in December 2025, aiming to extend and infill the mineralisation footprint. The evolving structural model suggests the deposit remains open both along strike and at depth, positioning Mt Solitary as a promising candidate for advancing towards a formal JORC-compliant resource estimate.

Broader Base Metal Exploration and Regional Strategy

Beyond gold, Mount Hope Mining is actively pursuing base metal discoveries with four advanced drill-stage targets in its portfolio. Maiden drill results from these targets are anticipated shortly, potentially unlocking new value streams. The company’s strategic landholdings have recently expanded, now covering 417 square kilometres predominantly on freehold land, including control over significant fault structures such as the Scotts Craig and Sugar Loaf faults known for their mineral potential.

Mount Hope Mining is also exploring farm-in, joint venture, and partnership opportunities to accelerate exploration and development. This regional consolidation strategy aims to leverage underexplored stratigraphy and capitalize on the Cobar Basin’s reputation as a premier mining jurisdiction with a supportive local economy and well-established infrastructure, including proximity to seven processing mills within 200 kilometres.

Context Within the Cobar Basin Mining Landscape

The company’s update references recent significant corporate activity in the Cobar Basin, including Harmony Gold’s acquisition of MAC Copper for approximately A$1.7 billion and other substantial equity raises and project approvals by regional operators. These transactions underscore the basin’s attractiveness and the competitive environment in which Mount Hope Mining operates.

Mount Hope’s three-phase plan, starting with greenfield target drilling, progressing through resource definition and metallurgical testing at Mt Solitary, and culminating in regional consolidation, reflects a methodical approach to unlocking value and advancing towards early cash flow generation.

Outlook and Market Positioning

With a market capitalization around A$7.8 million and cash reserves of approximately A$3.2 million as of September 2025, Mount Hope Mining is positioned to fund its near-term exploration programs. The company’s leadership team, including Managing Director Fergus Kiley and Non-Executive Chairman Ben Phillips, is steering efforts to capitalize on the district-scale upside potential of the Cobar Basin’s gold and base metal systems.

Investors will be watching closely for the imminent results from the maiden base metal drill programs and the outcomes of the Phase 2 drilling at Mt Solitary, which will be critical in shaping the company’s resource base and development trajectory.