Sunshine Metals Reports 4.4m @ 57.51g/t Au and $5M Placement

Exploration Momentum at Sybil

Sunshine Metals Ltd has delivered a compelling quarterly update for the period ending 30 September 2025, highlighting robust exploration activity in North Queensland. The company’s diamond drilling program at the Sybil epithermal gold system, located roughly 140 kilometres from Townsville, has yielded impressive results. Notably, a record intersection of 4.4 metres at 57.51 grams per tonne gold was reported at Francis Creek, Sybil’s most advanced prospect. This confirms the presence of high-grade veins typical of classic epithermal systems, akin to the nearby Pajingo mine which has produced around 4 million ounces of gold.

Sunshine’s fieldwork at Sybil included detailed mapping, sampling, and validation of historic drill collars, supported by high-resolution drone topography. Rock chip assays returned multiple high-grade gold values exceeding 10 grams per tonne along a 400-metre strike, underscoring the prospect’s potential. The recent drilling program, comprising 14 holes and over 1,100 metres, has provided critical geological data to refine targeting and guide follow-up exploration.

Advancing the Liontown Gold Study

Parallel to Sybil, Sunshine is progressing a scoping study focused on the shallow gold domains at Liontown, which hosts an inferred and indicated resource of approximately 95,000 ounces of gold and 652,000 ounces of silver. This study aims to optimise the resource’s economic potential and is expected to conclude by January 2026. Additionally, a 650-metre diamond drill hole funded through a Queensland Government Collaborative Exploration Incentive grant is underway at Liontown North, targeting geophysical anomalies that could extend the known mineralisation.

Encouraging drilling results were also reported from the Plateau and Salla prospects, with notable gold and silver intercepts at Plateau and promising zinc mineralisation at Salla, which is interpreted as an offset of the high-grade Waterloo zinc resource.

Corporate Developments and Capital Raise

Sunshine Metals strengthened its financial position with a $5 million placement at $0.012 per share, attracting new and existing institutional investors. Lion Selection Group Ltd, the company’s largest shareholder, increased its holding to 9.2% by investing $1 million in the placement. The funds are earmarked to accelerate drilling and geophysical programs at Sybil and to complete the Liontown gold study.

In governance, the company is transitioning to a predominantly Queensland-based board to better align with its operational focus. Fred White, a metallurgist with extensive production and logistics experience in Queensland’s mining sector, was appointed as a Non-Executive Director. Concurrently, three Western Australian-based directors resigned, streamlining the board to four members with expertise tailored to Sunshine’s strategic priorities.

Resource and Project Overview

The Ravenswood Consolidated Project remains Sunshine’s flagship asset, boasting a 7.0 million tonne resource grading 4.0 grams per tonne gold equivalent, including significant base metals. The company is targeting low capital expenditure pathways to generate cash flow by focusing on high-grade gold zones. Other projects, such as Investigator and Hodgkinson, are slated for divestment to concentrate resources on core assets.

Sunshine maintains a healthy cash balance of approximately $5.1 million at quarter-end, positioning it well to fund its active exploration and development pipeline. The company’s adherence to rigorous quality control and JORC-compliant resource reporting underpins investor confidence in its technical disclosures.