Copper 360: Rietberg mine development passes halfway mark

Copper 360 Ltd has achieved a significant development milestone at its flagship Rietberg Mine, with underground development now advancing beyond the halfway mark towards the 300 Level orebody.

Based on current development rates, the Company expects to intersect ore within the next 90 days, marking the transition from waste development to on-ore development and the commencement of the planned production build-up.

SALIENT FEATURES

• Underground development at the Rietberg Mine has advanced beyond the halfway mark of the original 544-metre development to 300 Level.
• The development is expected to intersect ore on 300 Level within 90-days, providing access to the defined ore block expected to supply mill feed for approximately three years of mining at Rietberg.
• The build-up to full production will commence during the on-ore development phase, with run-of-mine (“RoM”) production expected to reach approximately 700 tonnes per day once ramped up– sufficient to fill the capacity of the Company’s MFP2 processing plant.
• Concurrently, a haulage decline will be developed down to 350 Level, which will further increase the available mining face length and support the longer-term production profile.

DEVELOPMENT PROGRESS

Further to the Company’s previous update on development progress at the Rietberg Mine, shareholders are advised that underground development toward 300 Level has now advanced beyond the halfway mark of the original 544-metre development. Development rates have continued in line with the mine plan, supported by the Company’s mining alliance with Cementation Africa, which commenced mobilisation on 1 July 2026.

Based on current advance rates, the development is expected to intersect ore on 300 Level within 90-days. This intersection will provide access to the defined block of ore which is expected to supply mill feed for mining operations at Rietberg and marks the transition of the operation from waste development into on-ore development and in-situ production build-up.

PRODUCTION BUILD-UP

The build-up to full production will commence during the on-ore development phase, with ore generated from development immediately contributing to plant feed. RoM production is expected to build up to approximately 700 tonnes per day in the near term, which is sufficient to fill the processing capacity of the Company’s MFP2 modular flotation plant following its recent conversion to parallel milling.

The alignment of the mine’s production build-up with the upgraded capacity of MFP2 is a key milestone in the Company’s strategy: for the first time, a consistent, structured hard-rock ore supply from Rietberg will fully utilise the Company’s installed processing capacity, supporting improved feed grades, recoveries and copper production.

Commenting on the progress, Gordon Thompson, Transitional Chief Executive Officer of Copper 360, said: “Passing the halfway mark on schedule, with ore intersection targeted for September, demonstrates the momentum now established at Rietberg. Within weeks of intersecting the orebody, we expect to be feeding our MFP2 plant to capacity — the point at which our mining and processing strategy comes together. The decline to the 350 Level means this is only the beginning of the production story at Rietberg.”