Opportunity to Acquire a Historic Gold Mine with a +400koz @ 1.3g/t Au Resource in Queensland

Argonaut PCF is seeking indicative proposals for the acquisition, or such other arrangement to the satisfaction of the vendor, of an advanced exploration gold project (the Project) located in Queensland, Australia.

The Project hosts an existing JORC (2012) compliant Indicated and Inferred gold Resource base of +400koz @ ~1.3 g/t Au with significant exploration and resource expansion upside. The Project is also well situated with respect to access to power, water and operating infrastructure.

Gold mineralisation occurs in stockworks and sheeted quartz/sulphide veining within a granitic host rock.  The deposit style is similar to other major gold projects in North Queensland like Ravenswood (3Moz) and Kidston (5Moz).

In 2021, the vendor completed a study on the Project highlighting the potential for a robust open pit gold operation with an initial +8 year mine life.

Key outcomes of the study include:

• Average production profile: +35kozpa
• Pre-production capital: c. $75m
• Payback period: c. 2 years
• NPV (@ 5%): $135-145m
• Internal rate of return: 40-45%

The Project’s economics are expected to have improved significantly in the current gold price environment +A$5,000/oz given that the study was completed using a gold price of A$2,300-2,600/oz.

The vendor considers that the Project hosts the potential to become a multi-million-ounce ounce gold endowment that could be unlocked with an expansional drill program targeting extensions with over 5km of strike and promising early results.

Expressions of interest are to be lodged with Argonaut PCF by close of business Friday, 15 August 2025.

A full data room is available for interested parties that execute a confidentiality agreement, which can be obtained by contacting one of the following Argonaut PCF representatives:

Bryce Denysiuk:
E: [email protected]
M: +61 404 149 465

Liam Twigger:
E: [email protected]
M: +61 412 796 632