SHN

Sunshine has completed a systematic airborne survey identifying fault architecture and buried intrusions at Sybil, with new high-grade vein targets (Pancho 21.6 g/t Au, Cisco 6+ g/t Au) validated by rock chip sampling. Imminent RC drilling across three prospect areas aims to extend previous bonanza-grade results and test untested Francis Creek East.

SHN upgraded Liontown's gold-focused resource by 13% contained gold and 28% in tonnes, with 75% now in Measured/Indicated classification and 92.3% metallurgical recovery demonstrating near-term milling viability via acquired Mt Moss facility (target mid-2027 start). Updated Mining Study due August 2026 will integrate these results and owner-operator upside.

Sunshine has secured Mt Moss as its processing hub for Liontown gold production ramp-up, completing a $18M acquisition with solid refurbished infrastructure and 300 Ktpa grinding capacity ready for gold circuit retrofit by mid-2027. Capital raise ($26.6M) and debt financing discussions underpin construction readiness, with drilling at Sybil imminent and multiple project milestones tracked through H2 2026.