# NMG: 2026 Annual Mineral Resource and Ore Reserve Statement Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142898 Publisher: asx Original announcement: 2026-09-23T06:51:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-23T07:04:39.591Z Atlas analysis updated: 2026-09-23T07:04:39.591Z - Company: New Murchison Gold Limited - Ticker: NMG - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-23 07:04:40 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary New Murchison Gold Limited has released its annual Mineral Resources and Ore Reserves Statement for the financial year ending 30 June 2026. The company reported an increase in total Mineral Resources to 353,700 ounces at 2.4 g/t gold and total Ore Reserves to 90,800 ounces at 2.5 g/t gold, successfully replacing mining depletion. The update includes maiden Mineral Resource Estimates for Lydia and Abbotts, and a maiden Ore Reserve for Cloudkicker, all compliant with JORC 2012. Reasoning: New Murchison Gold Limited has reported a significant increase in overall contained gold ounces for both Mineral Resources and Ore Reserves, successfully replacing mining depletion. The update includes maiden estimates for new deposits and category upgrades, all compliant with JORC 2012 and supported by active mining operations, indicating strong project growth and de-risking. - Positive factor: Overall contained gold ounces increased for both resources and reserves - Positive factor: Exploration successfully replaced mining depletion - Positive factor: Maiden Mineral Resource Estimates for Lydia and Abbotts - Positive factor: Maiden Ore Reserve for Cloudkicker - Positive factor: Category upgrades from Inferred to Indicated for several deposits - Positive factor: JORC 2012 compliant estimates signed off by Competent Persons - Positive factor: Active mining operations at Crown Prince and Cloudkicker - Negative factor: Some areas still require additional drilling for classification improvement or to define boundaries - Negative factor: Potential for deleterious elements \(arsenic\) at Lydia requires further investigation Facts used in scoring: 16 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 16. Some facts used in scoring do not have a stored record. ## Resource Estimates (16) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-0) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:dc3e937ba6ca11dee715 - Deposit or zone: Crown Prince OP - Mining method: combined #### Resource Data - Category: measured - Tonnes: 263000 - Grade: 3.5 - Grade Unit: g/t - Contained Metal: 29400 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: High confidence Measured Resource for an actively mined open pit deposit, contributing significantly to the overall resource. - Positive factor: High confidence Measured Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Active production Evidence · table > 263,000 Context: Crown Prince OP #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-1) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:b46d1088cb70ff9d9bd6 - Deposit or zone: Crown Prince OP - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 360000 - Grade: 3.3 - Grade Unit: g/t - Contained Metal: 37900 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Indicated Resource for an actively mined open pit deposit, with category upgrade from Inferred to Indicated, enhancing confidence. - Positive factor: Indicated Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Category Upgrade - Positive factor: Active production Evidence · table > 360,000 Context: Crown Prince OP #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: Reasonable geological confidence for this resource. Evidence · table > Indicated Context: 360,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-2) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:232ee901037e8766cdc0 - Deposit or zone: Crown Prince OP - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 14000 - Grade: 0.8 - Grade Unit: g/t - Contained Metal: 400 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Small Inferred Resource for the open pit, indicating some remaining potential but with lower confidence. - Positive factor: JORC compliant - Positive factor: QP/CP signed - Negative factor: Inferred Resource Evidence · table > 14,000 Context: Crown Prince OP #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Speculative category with limited drilling. Evidence · table > Inferred Context: 14,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-3) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:07f5a83df1c33c9722f2 - Deposit or zone: Crown Prince OP Stockpiles - Mining method: combined #### Resource Data - Category: measured - Tonnes: 190000 - Grade: 0.8 - Grade Unit: g/t - Contained Metal: 4800 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Resource from existing stockpiles, providing immediate feed for operations. - Positive factor: High confidence resource from stockpiles - Positive factor: JORC compliant - Positive factor: QP/CP signed Evidence · table > 190,000 Context: Stockpiles #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-4) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:e0fd2e2fab74f0847daa - Deposit or zone: Crown Prince UG - Mining method: combined #### Resource Data - Category: measured - Tonnes: 12000 - Grade: 3.3 - Grade Unit: g/t - Contained Metal: 1300 - Contained Unit: oz - Cutoff Grade: 1.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: High confidence Measured Resource for the underground component, indicating future growth potential. - Positive factor: High confidence Measured Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Underground potential Evidence · table > 12,000 Context: Crown Prince UG #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-5) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:8fe4e7828b4b9add852f - Deposit or zone: Crown Prince UG - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1081000 - Grade: 3.6 - Grade Unit: g/t - Contained Metal: 126700 - Contained Unit: oz - Cutoff Grade: 1.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Significant Indicated Resource for the underground component, with category upgrade, pointing to future growth. - Positive factor: Large Indicated Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Category Upgrade - Positive factor: Underground potential Evidence · table > 1,081,000 Context: Crown Prince UG #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: Reasonable geological confidence for this resource. Evidence · table > Indicated Context: 1,081,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-6) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:1ae51382be8c34725e04 - Deposit or zone: Crown Prince UG - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 361000 - Grade: 1.9 - Grade Unit: g/t - Contained Metal: 22400 - Contained Unit: oz - Cutoff Grade: 1.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Moderate Inferred Resource for the underground component, indicating potential but requiring further drilling to increase confidence. - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Underground potential - Negative factor: Inferred Resource Evidence · table > 361,000 Context: Crown Prince UG #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Speculative category with limited drilling. Evidence · table > Inferred Context: 361,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-7) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:fcf32c69fc87edd7a041 - Deposit or zone: Cloudkicker - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 341000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 25100 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Significant Indicated Resource for Cloudkicker, with category upgrade, supporting the maiden Ore Reserve. - Positive factor: Indicated Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Category Upgrade Evidence · table > 341,000 Context: Cloudkicker #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: Reasonable geological confidence for this resource. Evidence · table > Indicated Context: 341,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-8) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:bc089bb52d5256d69180 - Deposit or zone: Cloudkicker - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 159000 - Grade: 1.2 - Grade Unit: g/t - Contained Metal: 6100 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Moderate Inferred Resource for Cloudkicker, indicating potential but requiring further drilling to increase confidence. - Positive factor: JORC compliant - Positive factor: QP/CP signed - Negative factor: Inferred Resource Evidence · table > 159,000 Context: Cloudkicker #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Speculative category with limited drilling. Evidence · table > Inferred Context: 159,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-9) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:2ee512241276571e050f - Deposit or zone: Lydia - Mining method: combined #### Resource Data - Category: measured - Tonnes: 2000 - Grade: 17.1 - Grade Unit: g/t - Contained Metal: 1100 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: High-grade Measured Resource for the maiden Lydia estimate, indicating strong potential, but with a small tonnage and potential for deleterious elements. - Positive factor: High confidence Measured Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Maiden Resource - Negative factor: Potential deleterious elements Evidence · table > 2,000 Context: Lydia #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-10) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:09508a4027765d49febb - Deposit or zone: Lydia - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 474000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 26400 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Significant Indicated Resource for the maiden Lydia estimate, with category upgrade, but potential for deleterious elements needs further study. - Positive factor: Indicated Resource - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Maiden Resource - Positive factor: Category Upgrade - Negative factor: Potential deleterious elements Evidence · table > 474,000 Context: Lydia #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: Reasonable geological confidence for this resource. Evidence · table > Indicated Context: 474,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-11) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:cb736be675d8f7c05526 - Deposit or zone: Lydia - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 486000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 27600 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Moderate Inferred Resource for the maiden Lydia estimate, indicating potential but requiring further drilling and study on deleterious elements. - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Maiden Resource - Negative factor: Inferred Resource - Negative factor: Potential deleterious elements Evidence · table > 486,000 Context: Lydia #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Speculative category with limited drilling. Evidence · table > Inferred Context: 486,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-12) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Craig Stokes, Lynn Widenbar - Resource group id: resource:23fc1c758bb4cfd0c738 - Deposit or zone: Abbotts - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 789000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 44500 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Significant Inferred Resource for the maiden Abbotts estimate, indicating good potential but requiring further drilling to increase confidence. - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Maiden Resource - Negative factor: Inferred Resource Evidence · table > 789,000 Context: Abbotts #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Speculative category with limited drilling. Evidence · table > Inferred Context: 789,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-13) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Hemal Patel - Resource group id: resource:b6b77462367afddc2b46 - Deposit or zone: Crown Prince OP - Mining method: combined #### Resource Data - Category: probable - Tonnes: 640000 - Grade: 3.1 - Grade Unit: g/t - Contained Metal: 65000 - Contained Unit: oz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Significant Probable Reserve for the actively mined Crown Prince open pit, demonstrating economic viability. - Positive factor: Probable Reserve - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Active production Evidence · table > 640,000 Context: Crown Prince OP #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-14) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Hemal Patel - Resource group id: resource:bf13f88dd7170278db82 - Deposit or zone: Cloudkicker OP - Mining method: combined #### Resource Data - Category: probable - Tonnes: 310000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 21000 - Contained Unit: oz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Maiden Probable Ore Reserve for Cloudkicker, with mining already underway, significantly de-risking the project. - Positive factor: Maiden Reserve - Positive factor: Probable Reserve - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Mining underway Evidence · table > 310,000 Context: Cloudkicker OP #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/nmg-2026-annual-mineral-resource-and-ore-reserve-statement--1de7d810-3a50-4242-8b88-376399328775#fact-resource-facts-15) Garden Gully Gold Project · gold #### Identity - Project: Garden Gully Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: NMG #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Hemal Patel - Resource group id: resource:ceb91bdd82872cd6e744 - Deposit or zone: Crown Prince stockpiles - Mining method: combined #### Resource Data - Category: proven - Tonnes: 190000 - Grade: 0.8 - Grade Unit: g/t - Contained Metal: 4800 - Contained Unit: oz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-06-30 #### Lab - Laboratory: Intertek Laboratories, Nagrom, Bureau Veritas #### Location - CRS: MGA2020, Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Proven Reserve from existing stockpiles, providing immediate and high-confidence feed for operations. - Positive factor: Proven Reserve - Positive factor: JORC compliant - Positive factor: QP/CP signed - Positive factor: Immediate feed Evidence · table > 190,000 Context: Crown Prince stockpiles #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.