Riversgold Limited (ASX: RGL) — Mining Lease Granted at Kalgoorlie Gold Project

3 July 2026

Price Sensitive Announcement $

Highlights:

• Mining Lease M25/389 covering the Northern Zone Gold Project has been granted, representing a major milestone for Riversgold and its funding and development partnership with Mega Resources
• The Mining Lease has been granted for a term of 21 years to 01/07/2047 and can be renewed, securing long-term tenure over the Northern Zone project located 25km east of Kalgoorlie in Western Australia
• The grant satisfies a key condition precedent under the Mega Resources Mining and Co-Operation Agreement, under which Mega will fully fund operations with project owners receiving 50% of profits
• Site clearance permit and National Vegetation Clearing Permit (NVCP) applications are due for submission this month, now that the mining lease has been formally granted
• The Company is now focused on completing inputs for the Mine Development and Closure Proposal (MDCP) — the operating permit required to commence mining operations — with a significant number of inputs including flora and fauna surveys, hydrogeological testing and heritage surveys already completed
• The Northern Zone Gold Project has already identified a gold mineralised porphyry approximately 600m wide and 500m deep from diamond drilling

Overview:

Riversgold has reached a landmark moment in the development of its Kalgoorlie Gold Project, with the formal grant of Mining Lease M25/389 over the Northern Zone Gold Project following an 18-month approvals process. The lease, granted for 21 years to mid-2047 and renewable, secures long-term tenure and unlocks the next critical steps toward production.

The grant is particularly significant in the context of Riversgold’s Mining and Co-Operation Agreement with established WA Goldfields mining services provider Mega Resources, signed in September 2025. Under that agreement, Mega will fully fund all operations at Northern Zone — covering mining, haulage, geological and engineering services, and project approvals management — with project owners Riversgold (80%) and Oracle Power Plc (20%) receiving 50% of profits on a 50/50 split with Mega. No upfront funding is required from the project owners. The grant of M25/389 satisfies a key condition precedent under that agreement, clearing the path for execution of a formal Mining Services Agreement.

With the mining lease now in hand, Riversgold can proceed immediately with submission of site clearance and National Vegetation Clearing Permit applications, which are due this month. In parallel, the MDCP team — comprising Resources WA and Mega Resources — has been working to finalise inputs for the Mine Development and Closure Proposal, the operating permit required before ground-disturbing works can commence. A substantial body of that work has already been completed, including flora and fauna surveys, hydrogeological wells and testing, and heritage surveys, with remaining inputs currently being finalised.

The Northern Zone project itself has already demonstrated meaningful geological credentials, with diamond drilling having defined a gold mineralised porphyry approximately 600m wide and 500m deep. With lease security now established and production permitting well advanced, Riversgold is materially closer to turning dirt at Northern Zone.

The Company has also announced a structured, milestone-based performance rights framework for key management personnel, with vesting tranches tied to share price targets, first ground disturbance, first gold production, and cumulative production of 50,000 ounces — aligning executive incentives directly with shareholder value creation.

Company Notes:

Riversgold Chairman, David Lenigas, commented: “The formal grant of the Mining Lease is a great milestone for this very exciting gold project so close to Kalgoorlie. To have this mining lease granted after an 18-month process is a tremendous result for the Company, our JV partners, Oracle Power in the UK, and our funding and production partner – Mega Resources. Not only does the granting of the mining lease secure long term tenure, but it also gives us the ability to submit the NVCP and MDCP. The MDCP team, that includes Resources WA and Mega Resources, have been working in parallel to the grant of M25/389 to progress all the inputs required for the submission of the proposal which will then provide the operating permit for the start of mining operations. A significant number of the inputs have already been completed, such as flora and fauna surveys, hydrogeological wells and testing, heritage surveys, with the last of the inputs currently being finalised. As of today, we are now much closer to turning dirt at Northern Zone and I look forward to updating shareholders on progress with the MDCP very soon.”

About Riversgold Limited (ASX: RGL):

Riversgold is an ASX-listed gold development company advancing its flagship Northern Zone Gold Project, located 25km east of Kalgoorlie in Western Australia. The project is held 80% by Riversgold and 20% by Oracle Power Plc, with established WA Goldfields mining services provider Mega Resources contracted to fully fund operations in exchange for a 50% profit share. The Northern Zone has been defined by diamond drilling as a gold mineralised porphyry approximately 600m wide and 500m deep, with the recently granted 21-year Mining Lease M25/389 now underpinning the Company’s pathway to first production.

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