Tillkännagivande • Apr 02

Greenwing Resources Ltd Provides Update on Its 100% Owned Que River Polymetallic Project Located in Northwest Tasmania

Greenwing Resources Ltd. provided an update on its 100% owned Que River Polymetallic Project located in northwest Tasmania. Following release of the ASX announcement dated 25 March 2025 which included the tabling of an updated Mineral Resource Estimate for the Que River Project, the Company is now evaluating development options for the Project. With the asset in an advanced state, expanding the resource remains a key priority for Greenwing. Highlights: High grade intercepts identified immediately below the current base of the QR 32 open pit - see highlights below - represent a compelling opportunity. This zone is the Company's initial focus in advancing the mining potential at Que River; QR 32 Open Pit Area & Down Dip Extension Highlights QR1276 from 50.55m: 7.45m @ 33.1% ZnEq - 11.47% Zn; 6.74 Pb; 0.33% Cu; 190g/t Ag & 2.61 g/t Au, including 1.5m @ 86.9% ZnEq - 24.2 % Zn; 13.9% Pb; 0.72% Cu; 460 g/t Ag & 10 g/t Au. QR1278 from 50.25m: 5.85m @ 28.9% ZnEq - 2.05% Zn; 6.88% Pb; 0.29% Cu; 116g/t Ag & 2.08 g/t Au, including 1.5m @ 64.9% ZnEq - 28.9% Zn; 16.2% Pb; 0.64% Cu; 223 g/t Ag & 4.36 g/t Au; Greenwing continues to review the comprehensive data set available for the Que River Project. This includes historic production figures, metallurgical recovery and processing data, down hole assays and geological information data from over 1,300 drill holes within the 1984/68L Mining Lease; The Company is currently evaluating several potential development opportunities at Que River. These options include potential depth extensions of the existing open pits via cutbacks as well as the development of additional open pits on site. One of the key opportunities being assessed is the potential cut back of the QR32 open supported by the near surface mineralisation; In addition to targeting extensions to the Mineral Resource Estimates immediately down plunge from the QR32 area, Greenwing is also assessing broader resource growth potential across the entire project. MINERAL RESOURCE ESTIMATE: The recently released Mineral Resource Estimate (MRE) for Que River was derived from block model estimates for the N, QR32 and S Lenses and historic polygonal estimates for the main PQ lens. The current estimates apply a 5% ZnEq (zinc equivalent) cut-off that considers the significant value of copper, silver and gold. At the 5% ZnEq cut-off the Mineral Resource contains a significant endowment of in-situ contained metal with 75 kt Zinc, 10 kt copper, 39 koz gold, 3700 koz silver and 36 kt lead. % Zinc Equivalent is based on the following formula as defined in the recently announced Mineral Resource is reported at a 5% ZnEq cut-off where: ZnEq = Zn + 0.7 Pb + 2.1 Cu +0.04 Ag + 3.3 Au The Mineral Resources remaining comprise material remaining insitu from the previous mining operations that are potentially viable due to the significantly higher current metals prices. The Mineral Resource is reported separately as two mining targets: near surface material suitable for open pit mining and the remainder as an underground mining target. The reporting difference is only relevant for underground where all material within 5 m of a previous underground stope is considered sterilised and not reported. This removes from the underground Mineral Resource most material that might be considered unrecoverable as old pillars or that have increased geotechnical risk. LOCATION & HISTORY: The Que River Project is located in northwest Tasmania immediately adjacent to the operating Hellyer Mine with a private connecting access/haul road. Additionally, it is within 14 km of currently operating processing mills at Roseberry and Renison Bell. Que River was discovered in the early 1970's and previously mined, initially by Aberfoyle between 1980 and 1990 mostly via underground operations. Subsequently Bass Metals (BSM) (now Greenwing) conducted open cut mining from 2007 to 2010 from four open cut mines. Both operations were largely toll treated at the Rosebery mill to produce gravity, copper, lead and zinc concentrates, which totals 2.6Mt at 14% Zn, 8%Pb, 0.5% Cu, 3.7 g/t Au and 205 g/t Ag. Currently, the project hosts a defined Mineral Resource within the boundary of the mining lease 68M/1984 comprising zones of mineralisation that were previously not optimised into the previous mining operations. QR32 Open Pit area - Exploration Target Zones for potential Open Pit Cut - Back: Potential additional drill intervals that will be investigated for additional follow up drilling and mining assessments. Specific Highlights from Table 3: QR1276 from 50.55m: 7.45m @ 33.1% ZnEq - 11.47% Zn; 6.74 Pb; 0.33% Cu; 190g/t Ag & 2.61 g/t Au Including 1.5m @ 86.9% ZnEq - 24.2 % Zn; 13.9% Pb; 0.72% Cu; 460 g/t Ag & 10 g/t Au. QR1278 from 50.25m - 5.85m @ 28.9% ZnEq - 2.05% Zn; 6.88% Pb; 0.29% Cu; 116g/t Ag & 2.08 g/t Au Including 1.5m @ 64.9% ZnEq - 28.9% Zn; 16.2% Pb; 0.64% Cu; 223 g/t Ag & 4.36 g/t Au. The current QR32 Open pit was successfully mined by BSM in 2010 to approximately 40m depth and then abandoned. Greenwing expect with the current increased metal prices that a cut back of the open cut may be economic, moving forward additional drilling will be planned to target these remaining higher grade zones which will enable further engineering and mine planning to be undertaken to assess the economics of additional open pit mining on both this zones and the additional zones identified but the recent Mineral Resource Estimates. Detailed mine design and planning must be undertaken to further evaluate these economics. The deeper remanent underground resources defined as part of the MRE studies will also be the target of additional drilling to increase the confidence in the resource blocks in addition to better understanding the ground conditions underground. The potential for extensions along the known mineralised zones will also be investigated both as part of further mining studies along with plans to further grow the Mineral Resources at the Que River Project. The potential for additional poly-metallic mineralisation within the Mount Read Volcanic Corridor which current has several world class deposits identified, including the Hellyer Deposit which sits immediately along strike and adjacent to Que River Mining Lease. Greenwing will continue to evaluate the significant data sets available at Que River while aiming to deliver increased shareholder value through smart exploration, resource development and mining potential within the Project.

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Marknadens lägsta 25% (AU)	2.7%
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Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/07/26 19:15
Aktiekurs vid dagens slut	2026/07/24 00:00
Intäkter	2025/12/31
Årlig intjäning	2025/06/30

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

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