Everest Metals Corporation Ltd (EMC.AX) Drilling hits Bonanza Grades at Mt Dimer Taipan Gold Project

Perth, Mar 13, 2026 AEST (ABN Newswire) - Everest Metals Corporation Ltd (ASX:EMC) (U9V1:FRA) (URRNF:OTCMKTS) announced extremely positive results from its recent grade control Reverse Circulation (RC) drilling program at the 100% owned Mt Dimer Tapian Gold Project ("Mt Dimer"), located 150 km northwest of Kalgoorlie and 120 km northeast of Southern Cross in Western Australia.

Highlights

- 2,160m infill RC drilling program increases the geological and financial confidence of the Mt Dimer Taipan gold pit (M77/515)

- Significant intersections include:

o Hole TPG0040: 8m @ 10.1 g/t Au (35-43m) inc., 2m @ 29.8 g/t Au from 36m
o Hole TPG0039: 1m @ 127 g/t Au (42-43m) & 6m @ 2.1 g/t Au (44-50m)
o Hole TPG0019: 5m @ 3.1 g/t Au (10-15m)
o Hole TPG0018: 6m @ 2.3 g/t Au (15-21m)
o Hole TPG0013: 7m @ 2.1 g/t Au (22-29m)

- Mineralisation remains open along strike, with strong potential for resource extensions north and south of the current pit

- Mining operations are progressing well, with more than 45,000 tonnes of mineralised material delivered to the ROM pad

- Processing of ore scheduled to commence in April 2026 under a 200,000 tpa Toll Processing Agreement

- Operations fully funded via non-dilutive Right to Mine Agreement with MEGA Resources (up to A$18.6 million), enabling rapid advancement without shareholder dilution

- EMC is progressing toward delivery of an updated Mineral Resource Estimate targeted for Q2 2026

- Current Inferred Resource of 722kt @ 2.10g/t Au for 48,545 oz of gold and 3.84 g/t Ag for 89,011oz silver

The Mt Dimer Taipan deposit hosts an Inferred JORC Mineral Resource Estimate of 722,000 tonnes at 2.1 g/t Au for 48,545 ounces of gold and 3.84 g/t Ag for 89,011 ounces of silver

This high-grade open-pit opportunity is fully permitted, with mining underway since early January 2026 under the Right to Mine Agreement with MEGA Resources Pty Ltd ("MEGA"). The initial campaign targets extraction of approximately 200,000 tonnes of ore, aiming to deliver near-term cashflow via toll-treatment processing at a nearby facility (200,000 tpa capacity), scheduled for April 2026.

These grade control results build on prior high-grade RC drilling (up to 6m @ 10.2 g/t Au) from December 2025, confirming strong continuity and extensions north and south of the existing pit, with significant potential to grow the resource through further exploration.

EMC's Executive Chairman and CEO Mark Caruso commented:

"These drilling results continue to deliver high-grade intercepts, significantly boosting confidence in the Mt Dimer Taipan deposit ahead of our targeted measured and Indicated resource upgrade next quarter. With mining accelerating, stockpiles building rapidly and processing imminent, Mt Dimer is wellpositioned to generate meaningful near-term shareholder value".

INFILL REVERSE CIRCULATION DRILLING RESULTS

To ensure precise mining an infill Reverse Circulation (RC) drill program commenced in January 2026 and was completed in February 2026. It comprised 52 closely spaced holes totalling 2,160 metres, with depths ranging from 18m to 60m. The program was designed to increase the geological confidence in the Mt Dimer Taipan pit, and provide detailed, real-time data to define and optimise the mining production schedule. This ensures an optimal ore-to-waste ratio, maximising gold recovery while minimising waste.

Samples were collected at 1m intervals directly from the cyclone, spanning from surface to end-of-hole for all RC holes. A total of 2,395 samples (including QA/QC samples) were submitted to Bureau Veritas Laboratory in Kalgoorlie for analysis. Gold assays were conducted using the fire assay method (FA1). See Figure 1* for the grade control RC drillhole collar locations on the topographic map of Mt Dimer Taipan (M77/515).

The Mt Dimer Taipan resource remains open to the north and south, with strong potential to extend mineralisation along the southern strike. This presents a significant opportunity to define additional gold (and silver) resources within the Mt Dimer Taipan project and adjoining tenements.

A summary of important assessment and reporting criteria used for this Exploration Results announcement is provided in JORC Table 1* in accordance with the checklist in the Australian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (the JORC Code, 2012).

Operational Progress Updates and Strategic Partnership

EMC executed this mining program in collaboration with MEGA Resources Pty Ltd ("MEGA") under the Right to Mine Agreement signed in October 2025. This deal provides EMC with up to A$18.6 million in non-dilutive funding. MEGA commenced site preparation for open-pit operations in November 2025, with first ore mining achieved in early January 2026.

Initial blasts have cleared substantial waste material through a combination of blast and free-dig operations, enabling the efficient stockpiling of more than 45,000 tonnes of ore on the ROM pad to date (Figure 2*). Toll-treatment processing will occur under a 200,000 tonnes per annum processing agreement at a nearby gold processing facility, scheduled for April 2026.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/73YO8ECM

About Everest Metals Corporation Ltd

Everest Metals Corporation Ltd (ASX:EMC) (OTCMKTS:URRNF) (FRA:U9V1) is an ASX listed Western Australian resource company focused on discoveries of Gold, Silver, Base Metals and Critical Minerals in Tier-1 jurisdictions. The Company has high quality Precious Metal, Battery Metal, Critical Mineral Projects in Australia and the experienced management team with strong track record of success are dedicated to the mineral discoveries and advancement of these company's highly rated projects.

   

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