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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Menzies

Western Australia, Australia · Developing · 100.0% ownedManual entry

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at
Measured	—	—	—	—
Indicated	6.74 Mt	1.70 g/t	0.36 Moz	28 Jan 2026
Inferred	8.08 Mt	1.40 g/t	0.36 Moz	28 Jan 2026
Total Resources	14.81 Mt	1.50 g/t	0.72 Moz	28 Jan 2026
Proved	—	—	—	—
Probable	1.37 Mt	1.70 g/t	0.08 Moz	30 June 2025
Total Reserves	1.37 Mt	1.70 g/t	0.08 Moz	30 June 2025

Cut-off grade

0.5000 g/t Au · 2.0000 g/t Au

Price assumption

A$3500.00/oz

JORC code year

2012

Peer benchmark — developing Au projects (284 with resources)Resource size P45Resource grade P67View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: Updated Goldfields Feasibility Study · 28 Jan 2026
Reporting code: JORC 2012
Convention: inclusive
Currency assumption: A$
Disagreement flags: 17 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Indicated	6.74 Mt	1.70 g/t	0.36 Moz	28 Jan 2026	39Manual entry Evidence record Menzies Indicated · Au · as at 2026-01-28 Reported figure Area Whole project Basis 100% Ore tonnes (t) 6744000.0000 Grade 1.7000 Contained (oz) 362000.0000 Classification Resource Source trail Updated Goldfields Feasibility Study 39 Published 2026-01-29 Verification Approved; not independently verified · Manual entry manual QA insert (tranche 16): extraction missed the printed regional Total line (p39) \| t83 print round (p5): PRINTCHECK RESOLVED - the FS DOES print Lady Shenton System and Yunndaga; they were simply never captured at this vintage, so the rollup is right and the gap is a capture hole, not a figure error. Appendix A p39 'Consolidated Brightstar JORC Resource Table (as at 28 January 2026)' prints this row verbatim: 'Total - Menzies - - - 6,744 1.7 362 8,080 1.4 355 14,814 1.5 718'. Two lines above it: 'Lady Shenton System 0.5/1.2 - - - 3,725 1.4 168 4,349 1.3 184 8,074 1.4 352' and 'Yunndaga 0.5/1.2 - - - 2,172 2.2 152 923 1.8 54 3,095 2.1 206' (repeated identically as Table 4 p11 'Goldfields Total Mineral Resources', and again in doc 238331b3 Table 4 p25). Indicated arithmetic: stored leaves Aspacia 137 + Lady Harriet 520 + Link Zone 160 + Selkirk 30 = 847kt / 7+22+7+6 = 42koz; 6,744-847 = 5,897kt and 362-42 = 320koz, which is LSS 3,725 + Yunndaga 2,172 = 5,897kt and 168+152 = 320koz EXACTLY. Row stays approved at 6,744,000t g=1.7 contained 362,000. Copies a pre-filled issue record so you can send it through your normal channel.

Total

Inferred

8.08 Mt

1.40 g/t

0.36 Moz

28 Jan 2026

39Manual entry

notes (3)

Source: Updated Goldfields Feasibility Study · published 29 Jan 2026

Ref: 39

Unknown code — Reporting code not yet captured for this row.

QA notes:

manual QA insert (tranche 16): extraction missed the printed regional Total line (p39)
t83 print round (p5): PRINTCHECK RESOLVED - same table, same cause. Print: 'Total - Menzies - - - 6,744 1.7 362 8,080 1.4 355 14,814 1.5 718' (doc 1857b5ff Appendix A p39), so the stored 8,080,000t g=1.4 contained 355,000 is print-exact. The inferred gap closes on the two un-captured printed lines: stored leaves Aspacia 1,238 + Lady Harriet 590 + Lady Irene 100 + Link Zone 740 + Selkirk 140 = 2,808kt / 62+21+6+23+5 = 117koz; 8,080-2,808 = 5,272kt and 355-117 = 238koz = 'Lady Shenton System ... 4,349 1.3 184' + 'Yunndaga ... 923 1.8 54' = 5,272kt / 238koz EXACTLY. Capture the two deposit lines rather than touching this row.

Total

Total Resources

14.81 Mt

1.50 g/t

0.72 Moz

28 Jan 2026

39Manual entry

notes (3)

Source: Updated Goldfields Feasibility Study · published 29 Jan 2026

Ref: 39

Unknown code — Reporting code not yet captured for this row.

QA notes:

manual QA insert (tranche 16): extraction missed the printed regional Total line (p39)
t83 print round (p5): PRINTCHECK RESOLVED - same table. Print: 'Total - Menzies - - - 6,744 1.7 362 8,080 1.4 355 14,814 1.5 718', so 14,814,000t g=1.5 contained 718,000 is print-exact (and the 718koz ties the 0.7Moz headline). Total-column gap: stored leaves Aspacia 1,375 + Lady Harriet 1,110 + Lady Irene 100 + Link Zone 890 + Selkirk 170 = 3,645kt / 70+43+6+29+12 = 160koz; 14,814-3,645 = 11,169kt and 718-160 = 558koz = 'Lady Shenton System ... 8,074 1.4 352' + 'Yunndaga ... 3,095 2.1 206' = 11,169kt / 558koz EXACTLY. Note the deposit definitions the print gives for the missing lines: 'Pericles, Lady Shenton & Stirling deposits are consolidated into Lady Shenton System'; both carry a split 0.5/1.2 g/t OP/UG cut-off.

Lady Shenton System

Inferred

4.35 Mt

1.30 g/t

0.18 Moz

11 Dec 2025

2Unverified

notes (6)

Source: Menzies Mineral Resource increases 22% to 0.7Moz @ 1.5g/t · published 11 Dec 2025

Ref: 2

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 0.50 g/t Au — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA BLOCK: project 'Lady Shenton System' matches an approved mining AREA of project 'Menzies' — likely deposit-as-project fragmentation; approving would create a phantom project and double the company rollup. Re-file as (project='Menzies', area='Lady Shenton System') or reject. QA INFO: recompute differs 1.21% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±4.13% (rounding granularity) — treated as reconciled.
QA fix: refiled deposit-as-project row to (Menzies, Lady Shenton System) — this is the genuinely NEW Dec-2025 MRE update; the older approved copy is retired in the same pass
QA approved: verified against the source print by the tranche-20 agent pass

Lady Shenton System

Total Resources

6.70 Mt

1.28 g/t

0.28 Moz

11 Dec 2025

2Unverified

notes (6)

Source: Menzies Mineral Resource increases 22% to 0.7Moz @ 1.5g/t · published 11 Dec 2025

Ref: 2

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 0.50 g/t Au — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA BLOCK: project 'Lady Shenton System' matches an approved mining AREA of project 'Menzies' — likely deposit-as-project fragmentation; approving would create a phantom project and double the company rollup. Re-file as (project='Menzies', area='Lady Shenton System') or reject. QA INFO: recompute differs 3.24% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±3.72% (rounding granularity) — treated as reconciled.
QA fix: refiled deposit-as-project row to (Menzies, Lady Shenton System) — this is the genuinely NEW Dec-2025 MRE update; the older approved copy is retired in the same pass
QA approved: verified against the source print by the tranche-20 agent pass

Yunndaga

Indicated

2.17 Mt

2.20 g/t

0.15 Moz

11 Dec 2025

2Unverified

notes (6)

Source: Menzies Mineral Resource increases 22% to 0.7Moz @ 1.5g/t · published 11 Dec 2025

Ref: 2

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 0.50 g/t Au — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA BLOCK: project 'Yunndaga' matches an approved mining AREA of project 'Menzies' — likely deposit-as-project fragmentation; approving would create a phantom project and double the company rollup. Re-file as (project='Menzies', area='Yunndaga') or reject. QA INFO: recompute differs 1.07% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±2.62% (rounding granularity) — treated as reconciled.
QA fix: refiled deposit-as-project row to (Menzies, Yunndaga) — this is the genuinely NEW Dec-2025 MRE update; the older approved copy is retired in the same pass
QA approved: verified against the source print by the tranche-20 agent pass

Yunndaga

Inferred

0.92 Mt

1.80 g/t

0.05 Moz

11 Dec 2025

2Unverified

notes (6)

Source: Menzies Mineral Resource increases 22% to 0.7Moz @ 1.5g/t · published 11 Dec 2025

Ref: 2

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 0.50 g/t Au — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA BLOCK: project 'Yunndaga' matches an approved mining AREA of project 'Menzies' — likely deposit-as-project fragmentation; approving would create a phantom project and double the company rollup. Re-file as (project='Menzies', area='Yunndaga') or reject. QA INFO: recompute differs 1.08% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±3.76% (rounding granularity) — treated as reconciled.
QA fix: refiled deposit-as-project row to (Menzies, Yunndaga) — this is the genuinely NEW Dec-2025 MRE update; the older approved copy is retired in the same pass
QA approved: verified against the source print by the tranche-20 agent pass

Yunndaga

Total Resources

1.72 Mt

2.35 g/t

0.13 Moz

11 Dec 2025

2Unverified

notes (6)

Source: Menzies Mineral Resource increases 22% to 0.7Moz @ 1.5g/t · published 11 Dec 2025

Ref: 2

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 0.50 g/t Au — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA BLOCK: project 'Yunndaga' matches an approved mining AREA of project 'Menzies' — likely deposit-as-project fragmentation; approving would create a phantom project and double the company rollup. Re-file as (project='Menzies', area='Yunndaga') or reject. QA INFO: recompute differs 1.44% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±2.64% (rounding granularity) — treated as reconciled.
QA fix: refiled deposit-as-project row to (Menzies, Yunndaga) — this is the genuinely NEW Dec-2025 MRE update; the older approved copy is retired in the same pass
QA approved: verified against the source print by the tranche-20 agent pass

Reserves

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Lady Shenton	Probable	1.37 Mt	1.70 g/t	0.08 Moz	30 June 2025	32Unverified Evidence record Menzies Probable · Au · as at 2025-06-30 Reported figure Area Lady Shenton Basis 100% Ore tonnes (t) 1371000.0000 Grade 1.7000 Contained (oz) 76000.0000 Classification Reserve Source trail DFS Investor Webinar Presentation 32 Published 2025-07-02 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('recovered metal') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA INFO: recompute differs 1.40% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±3.64% (rounding granularity) — treated as reconciled. \| QA fix: project=Menzies, area=Lady Shenton \| probable matches p32 1371kt@1.7 76koz contained (recovered 78koz differs, contained confirmed); p32 files it under Menzies Ore Reserves — standalone project would fragment established Menzies filing Copies a pre-filled issue record so you can send it through your normal channel.	notes (5) Source: DFS Investor Webinar Presentation · published 02 July 2025 Ref: 32 JORC 2012 — Reporting code of record: JORC 2012 @ A$ 3,500/oz — Metal price assumption used to derive this estimate. QA notes: QA WARN: document prints recovered-metal vocabulary ('recovered metal') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA INFO: recompute differs 1.40% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±3.64% (rounding granularity) — treated as reconciled. QA fix: project=Menzies, area=Lady Shenton probable matches p32 1371kt@1.7 76koz contained (recovered 78koz differs, contained confirmed); p32 files it under Menzies Ore Reserves — standalone project would fragment established Menzies filing
Lady Shenton	Total Reserves	1.37 Mt	1.70 g/t	0.08 Moz	30 June 2025	DFS PresentationUnverified Evidence record Menzies Total Reserve · Au · as at 2025-06-30 Reported figure Area Lady Shenton Basis 100% Ore tonnes (t) 1371000.0000 Grade 1.7000 Contained (oz) 76000.0000 Classification Reserve Source trail DFS Presentation Page reference not recorded Published 2025-06-30 Verification Approved; not independently verified · Model extracted re-homed by t68b: stored with the deposit as its own project; the print (Appendix 2/5) and approved history key 'Lady Shenton' as a deposit of 'Menzies'; figures print-exact (anchor: 'Lady Shenton (DFS) - - - 1,371 1.7 76 1,371 1.7 76'). Source row c0ecaf49-5afb-485d-9892-5925a03fd1d8 stays rejected as the audit trail. Copies a pre-filled issue record so you can send it through your normal channel.	notes (2) Source: DFS Presentation · published 30 June 2025