Name of the Project
Federation polymetallic metals project.

Location
Central New South Wales, Australia.

Project Owner/s
Hera Resources, a wholly owned subsidiary of Aurelia Metals.

Project Description
The project is one of the highest-grade base metals development projects in Australia.

Federation is a zinc/lead/copper/gold/silver underground longhole stopingIoperatiom, with a rock and paste backfill operation.

Total mill feed is estimated at four-million tonnes over an initial eight-year production life. Expected average steady-state recovered metal production is estimated at 45 000 t/y zinc, 46 000 t/y lead, 1 000 t/y copper, 15 000 oz/y gold and 39 000 oz/y silver.

The project deposit remains open in multiple directions, with substantial potential for resource extension and conversion from planned underground and surface drilling.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value (consensus case), at a 7% discount rate, of A$359-million and an internal rate of return of 61% at spot prices, with a payback of 1.7 years.

Capital Expenditure
Capital expenditure to first production is estimated at A$76-million.

Planned Start/End Date
The project is on track for first stope ore in the first quarter of the 2025 financial year.

Latest Developments
The New South Wales government has granted Aurelia Metals a mining lease for the project. The lease covers 3 885 ha and has been granted for 21 years.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Aurelia Metals, tel +61 7 3180 5000 or email office@aureliametals.com.au.