Aurelia Metals ASX:AMI Stock Report

Aurelia Metals Limited Announces That Great Cobar Project Received NSW Government Approval

Aurelia Metals Limited announced it has received regulatory approval to extend the life of its Peak gold and base metals operations ("Peak") up until 2035 following the New South Wales (NSW) Government's issue of development consent for the New Cobar Complex. The New Cobar Complex is a State Significant Development (SSD) that amalgamates the existing approved underground mining of the Chesney and Jubilee deposits, and development of new underground workings at the Great Cobar and Gladstone deposits. The approval allows the establishment of a new underground mine at the Great Cobar copper-gold deposit increasing the Company's exposure to a critical, future-facing commodity experiencing significant demand and record prices. The Great Cobar Pre-Feasibility Study (PFS) released in January (see ASX statement on 27 January 2022: Great Cobar PFS outcomes and Peak Ore Reserve increase) supported the development of a new satellite mine based on initial mining at Great Cobar with a maiden 840,000 tonne Ore Reserve to offset mining depletion at Peak. The PFS also showed mining Great Cobar could deliver 2.3 million tonnes to the Peak mines process plant over a nominal five-year production period to produce high- quality copper gold concentrate and gold silver doré. The investment of AUD 65 million in the underground mine delivers economic benefits to the Central West NSW region, including sustaining 400-plus jobs at the Peak operations and an additional 140 jobs during the construction phase. Aurelia anticipates it will commence development of the Great Cobar exploration drive in mid CY2022, which will enable the Company to conduct underground exploration and resource drilling to target the upside potential of the deposit that has already been supported by the recent deeper drilling results that post-date the PFS findings (see ASX statement release on 28 April 2022: Further drilling success across the Aurelia portfolio).

Aurelia Metals Limited to Report Q3, 2022 Results on Apr 28, 2022

Aurelia Metals Limited announced that they will report Q3, 2022 results Pre-Market on Apr 28, 2022

Aurelia Metals Limited Breaks Ground At the Federation Project

Aurelia Metals Limited has made progress achieving several critical milestones in the progression of its Federation Project, including commencing excavation of the box cut for the exploration decline. Located 10km south of the Company's Hera Mine in central-western NSW, the Federation Project centres on the development, mining and processing of high grade polymetallic zinc, lead, gold, silver and copper mineralisation that was discovered in April 2019. It is set to leverage key existing infrastructure and provide operational continuity at Hera, sustaining up to 250 regional jobs. Site Works and Exploration Decline: Site civil works are underway as a precursor for the development of the exploration decline. During March, local civil works contractor, Neill Earthmoving, has cleared and grubbed 32 hectares of land, established access roads, installed sediment controls and stockpiled topsoil for post-closure land rehabilitation. Excavation of the 22m deep box cut for the exploration decline commenced in April. Redpath Australia has been selected to develop the exploration decline, which is expected to commence late in the current quarter. Lateral development and infill drilling from the exploration decline is set to further improve Aurelia's understanding of the mineralisation, rock mass conditions and mining and metallurgical performance of this outstanding deposit, by providing underground exposures and enabling collection of a 20,000 tonne bulk ore sample. Feasibility Study: The Federation Feasibility Study (FS) remains on track for completion in mid-CY22 and is anticipated to support declaration of a maiden Ore Reserve. The FS is based on the exploration results received, and geological modelling prepared, up to the end of February. Drill data and assay results from company's ongoing intensive drill programme that are received after that time will be incorporated into the next Mineral Resource Estimate update for the Federation Project, which is scheduled to be published in July. The FS is expected to define a robust mine development plan that also provides a platform for a significantly longer operating life delivered via targeted conversion of additional Inferred Resources into Indicated and/or Measured categories. Focus has shifted to further extensional drilling at the peripheries of the delineated Federation mineralisation, which remains open along strike in both directions and at depth. Drilling from surface and underground positions will be employed with an aim of continuing the already impressive growth story of the Federation deposit.

Aurelia Metals Announces Temporary Halt to Production At Dargues Gold Mine Due to Extreme Weather Event