Amended Profile for Listing as an NZX Foreign Exempt Issuer

ASX Announcement
ASX: MKR




Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02- 7253 2020 www.manukaresources.com.au

Amended Profile for Listing as an NZX Foreign Exempt Issuer to
Comply with ASX Listing Rules and JORC Code
Compliance
Requirement
Nature of Amendment Location in Revised
Announcement
LR 5.23.2
Previously Reported
Estimates
Inclusion of the required confirmation
statement that no new material information
affects previously reported Mineral Resource
or Ore Reserve estimates, and that material
assumptions continue to apply.
JORC Cl. 18
Exploration Results
Context
Enhanced descriptive detail for all reported
Exploration Results to ensure a balanced and
considered judgement of their
significance, including more comprehensive
geological context and location details.
JORC Cl.26
Competent Person
Consent
Inclusion of a formal Competent Person’s
Statement and Consent specifically naming
the CP, detailing their qualifications and
experience, and confirming their consent to
the form and context of the technical
information.
General Correction of several typographical and
grammatical errors.


Manuka’s Executive Chairman has provided his approval for release.


For further information contact:

Dennis Karp
Executive Chairman
Tel. +61 2 7253 2020



Page 7
Section:
Brief details of
issuer’s operating
activities
Pages 3 to 7
Section:
Brief details of
issuer’s operating
activities
Pages 4 to 7
Section:
Brief details of
issuer’s operating
activities
25 November 2025


Manuka Resources Limited (ASX: MKR, NZX: MKR) (Manuka or the Company) refers to the
announcement titled “Approval to List on New Zealand Stock Exchange” released on 26
September 2025.

Following feedback from the ASX, the Company has prepared and now submits a revised
announcement (attached) to ensure compliance with ASX Listing Rules Chapter 5 and JORC
Code 2012.

The revisions are not material to the technical data but provide the necessary compliance
statements, context and Competent Person declaration required.

The following changes have been made to the previously submitted announcement.

1

1
Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02- 7253 2020 www.manukaresources.com.au

ASX Announcement
24 November 2025
ASX: MKR
Approval to list on New Zealand Stock Exchange
Manuka Resources Limited (Manuka or MKR) is pleased to advise that it has received approval
for its secondary listing on the NZX Main Board Market operated by NZX Limited (NZX) in
addition to its primary listing on the Australian Securities Exchange (ASX).

Manuka will commence trading on the NZX at 10.00am (NZ time) on September 29, 2025, under
the ticker MKR.
Attached to this announcement are copies of Manuka’s Profile and Listing Application Letter in
connection with its listing.
Approximately 30% of MKR’s shares are currently held by New Zealand shareholders and this
listing provides a live market for them to trade in Manuka shares in their own time zone, with
their shares registered in their own Common Shareholder Number (CSN), or through a local
stockbroker or investment platform.
Shareholders wishing to transfer their holding from the ASX to the NZX should complete the
attached Request for Removal of Securities request and provide it to the registry as outlined on
the form.

A copy is also available for download here.

Details of the ASX share registry management services to be managed by Automic Group Pty
Ltd and NZX share registry management services to be managed by MUFG Pension & Market
Services are set out following.
Exchange: ASX NZX
Registry: Automic Group Pty Ltd MUFG Pension & Market Services
Address: Level 5, 126 Phillip Street
Sydney NSW 2000

Postal: GPO Box 5193
Sydney NSW 2001 Australia
Level 30, PwC Tower
15 Customs Street
West Auckland 1010
PO Box 91976
Victoria Street West
Auckland 1142
Telephone: +61 2 8072 1400 +64 9 375 5998
Email: registrars@linkmarketservices.com.au enquiries.nz@cm.mpms.mufg.com
Website: www.automicgroup.com.au www.mpms.mufg.com
Manuka’s directors have approved this announcement for release.

For further information contact:
Dennis Karp
Executive Chairman
Tel. +61 2 7253 2020

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au

2

¹


Profile for Listing as an NZX Foreign Exempt Issuer

Section 1: Issuer and financial product information
Name of issuer Manuka Resources Ltd
Financial product
name/description
Ordinary Fully Paid Shares
NZX ticker code MKR
ISIN AU0000090292
Australian registration number
(ABN, ACN, ARBN, ARSN)
80 611 963 225
Main business activity
Manuka Resources Limited (MKR) is a diversified critical and
precious metals developer, producer and explorer. The Company
holds 100% interests in key assets across New Zealand and
Australia, which include the following:

1. The Taranaki vanadiferous titanomagnetite (VTM) iron
sands project, 22km offshore in the South Taranaki Bight,
(south west coast of the North Island of NZ) is owned by the
MKR subsidiary Trans-Tasman Resources Limited (TTR).
TTR is currently advancing the Taranaki VTM Project (the
Project) through the New Zealand Government’s Fast-Track
Approvals process.
2. The fully permitted Wonawinta silver project, located in the
central Cobar Basin, in New South Wales, with works currently
underway for restarting production in early 2026
3. The fully permitted Mt Boppy gold project also located in the
Cobar Basin, New South Wales, and also targeting restarting of
production in early 2026.
Brief details of issuer’s operating
Activities
Manuka’s current Australian focus is to bring both of the above
mentioned precious metal projects into production during early Q1
2026, while at the same time continue to direct a sufficient amount
of the Company’s resources to ensure the Taranaki VTM Project is
favourably received by the Fast-Track Approvals panel hearing our
submission in New Zealand.

The Project has enormous potential due the sheer scale of the
resource and where it sits on the cost curve. As released on the
ASX on 1

March 2023
1
the project hosts a JORC

1
ASX Release 1 March 2023 – Maiden Vanadium Resource at Taranaki VTM Iron Sand Project (see Competent Person Statement Below)

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
3




Mineral Resource of 3.2 billion tonnes (Bt) @ 10.17% Fe₂O₃,
1.03% TiO₂, 0.05% V₂O₅, with 2.073Bt (66%) Indicated and 1.083Bt
(34%) Inferred mineral resource categories. Production plans
targeting the extraction of up to 50 million tonnes per annum
(Mtpa) of seabed material. This will yield approximately 5Mtpa of
exportable heavy mineral sands concentrates at expected
grades of 56–57% Fe, 8.5% TiO₂ and 0.5% V₂O₅.

A 2025 Pre-Feasibility Study released ASX 26 March 2025
2

confirmed strong economic metrics including:
• 20-year mine life
• US$312 million average annual EBITDA (earnings before
interest, tax, depreciation and amortisation)
• US$1.26 billion NPV (net present value)
• 39% IRR (internal rate of return)

An independent NZIER Economic Impact Assessment (released
ASX 2 April 2025) estimated the project could deliver:
• NZ$854 million in annual export revenues
• 1,125 regional jobs
• NZ$234 million in annual local expenditure
• Over NZ$190 million in annual tax and royalty
contributions

TTR holds Mining Permit MMP55581, and on 15 May 2025, its
environmental consent application was accepted as complete,
into the New Zealand Government’s Fast-Track Approvals
process, under the Fast-track Approvals Act 2024.

Procedural History and Key Milestones:
• Q2 2025: Fast-Track application lodged and accepted as
complete.
• Q4 2025: Expected period for review by Expert Panel and
ongoing engagement with Ministers, iwi and statutory
consultees.
• Q1 2026: Expected period for notification of result of Expert
Panel.
• Early 2026: Targeted receipt of Fast-Track consent following
successful Expert Panel decision.

Assuming the Expert Advisory Panel confirms TTR’s Fast-Track
consents, Manuka would then need to complete a Bankable
Feasibility Study (BFS) and secure project financing over the next
9–12 months, with the construction and commissioning phase

2
ASX Release 26 March 2025 – Taranaki VTM Project Delivers Extremely Robust Pre-Feasibility Economics – Full Speed Ahead

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
4



(detailed in the link which follows in point 2 below) to occur
thereafter. The steps of the process is as follows:
1. BFS scoped and anticipated to cost NZ$15 to NZ$20 million.
The following links (Appendix A, Appendix B) provides the detail
supporting this estimate.
2. Construction and commissioning phase anticipated to require
an investment of debt and equity of approximately NZ$1 billion, as
outlined in the PFS lodged with ASX on 26 March 2025 (and is
available by following the link PFS)
3. Initial 20 year mine plan proposed for final environmental
consents and operating conditions in the 65.76km2 of the Cook
South mineral resource area within MMP55581.

This Fast-Track approval pathway is pivotal to unlocking the full
development potential of these globally significant critical minerals
assets. Both vanadium and titanium are deemed to be critical
minerals in the USA, EU, Canada and Australia. On 31 January
2025, New Zealand issued their own list of critical minerals and
again both vanadium and titanium are included.

In Australia, Manuka owns 100% of the Wonawinta Silver Project
and the Mt Boppy Gold Mine, both fully permitted and located in
the Cobar Basin, New South Wales.

• The Wonawinta Silver Project includes a significant JORC
Mineral Resource of 38.3Mt @ 41.3g/t Ag (51Moz Ag) and
an Ore Reserve of 6.2Mt @ 56g/t Ag (11.16Moz Ag). It
includes an 84-person mine camp and a 1Mtpa processing
facility. Wonawinta was formerly the largest primary silver
producer in Australia and is central to the Company’s 10-
year production plan targeting 19.2Moz of silver. As per the
ASX release 26 June 2025
3
, the project demonstrates strong
economics with an estimated NPV of A$153M and IRR of
173%.

The Mt Boppy Gold Mine consists of an existing open pit, a 48-
person camp, and adjoining exploration tenements. On 5 August
2025
4
, Manuka declared a JORC Probable Ore Reserve of 290kt
@ 4.2g/t Au (39,100oz Au). Gold recovery operations had briefly
started through screening and haulage to the Wonawinta plant and
will recommence early 2026. A pit cut-back is under assessment to
increase mine life and production scale.

Competent Persons – JORC Mineral Resource Statements

The Mineral Resource Statement for Mt Boppy (Hard Rock) and

3
ASX Release 26 June 2025 – Financing Update on Cobar Basin Silver and Gold Production Strategy (see Competent Person Statement below)
4
ASX Release 5 August 2025 – Clarification Mt Boppy Open Pit Ore Reserve (see Competent Person Statement below)

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
5


Wonawinta Silver was estimated by the Competent Person, Mr I.
Taylor of Mining Associates Pty Ltd. The MRE for Mt Boppy (hard
rock) was updated by Manuka on 15
th
April 2024. The Mineral
Resource was updated in July 2025 with a revised cut-off grade of
1.0 g/t Au for the Ore Reserve estimation. The MRE for Wonawinta
has remained unchanged since 2021. Mr Taylor is a member of
MAIG, and MAusIMM (CP), and has sufficient experience that is
relevant to the style of mineralisation and type of mineral deposits
being reported on and to the activity being undertaken to qualify as
a Competent Person as defined in the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (“JORC Code 2012 Edition”). Mr
Taylor consents to the inclusion in the release of the information on
Wonawinta and Mt Boppy Mineral resources based on his
information in the form and context in which it appears.

The Mineral Resource Statements for Mt Boppy Rock Dumps,
Stockpiles, Tailings and Mt Boppy South were estimated by the
Competent Person, Mr P. Bentley of Manuka Resources Limited.
Mr Bentley is a Fellow of the GSSA and a member of SACNASP.
Mr Bentley has sufficient experience that is relevant to the style of
mineralisation and type of mineral deposits being reported on in this
release and to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (“JORC Code 2012 Edition”). Mr
Bentley consents to the inclusion in the release of the information
on Surface dump and Tailings dam Ore Reserves based on his
information in the form and context in which it appears.

1. The preceding statements of Mineral Resources conforms to
the ‘Australasian Code for Reporting of Exploration Results
Mineral Resources and Ore Reserves (“JORC Code 2012
Edition”).
2. All tonnages reported are dry metric tonnes.
3. Data is rounded to thousands of tonnes and thousands of
ounces gold. Discrepancies in totals may occur due to rounding.
4. Resources have been reported as open pit with varying cut-offs
based off several factors discussed in the corresponding Table
1 which can be found with the original ASX announcements for
each Resource.
5. Resources are reported inclusive of any Reserves.

The announcements containing the Table 1 Checklists of
Assessment and Reporting Criteria relating for JORC Resources
are:

21 May 2025: Updated Cobar Basin Production Plan to Deliver
Silver and Gold from Wonawinta
30 September 2024: Manuka Near-Term Gold at Mt Boppy Update

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
6


The information in this release that relates to Exploration Targets,
Exploration Results or Mineral Resources for the Taranaki VTM
Iron Sand Project is based on information compiled by Mr Alan J
Eggers, a Competent Person who is a Corporate Member of the
Australasian Institute of Mining and Metallurgy (“AusIMM”) and the
Australian Institute of Geoscientists (“AIG”). Alan Eggers is a
professional geologist, a full-time employee of Wesmin Corporate
Pty Ltd and executive chairman of Trans-Tasman Resources
Limited. Mr Eggers has sufficient experience that is relevant to the
style of mineralisation and type of mineral deposits being reported
on in this release and to the activity being undertaken to qualify as
a Competent Person as defined in the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (“JORC Code 2012 Edition”). The
information provided in this market announcement is an accurate
representation of the available data and studies of the Taranaki
VTM Iron Sand Project. Mr Eggers consents to the inclusion in the
release of the information on Exploration Targets, Exploration
Results or Mineral Resources based on his information in the form
and context in which it appears.
Notes on Ore Reserves:
Competent Persons
Anthony Stepcich and Phil Bentley (a Manuka employee) were the
Competent Persons for the declaration of the Wonawinta Silver and
Mt Boppy Ore Reserve estimates, reported in accordance with the
JORC Code (2012). In estimating these Ore Reserves Mr Stepcich
has relied on the metallurgical processing, infrastructure and
tailings work undertaken by Mr Dieter Engelhardt. Mr Engelhardt
has signed of as Competent Person on the metallurgical
processing, infrastructure and tailings inputs to the JORC Code
(2012) Ore Reserve Reports.

Mr Anthony Stepcich was the Competent Person responsible for Mt
Boppy mining study and Ore Reserve of 290Kt at 4.2 g/t Au for
39Koz Au, and the Wonawinta mining study and Ore Reserve of
6.15Mt at 56.4g/t Ag for 11Moz Ag. The information that relates to
Ore Reserves reflects information compiled and conclusions
derived by Anthony Stepcich, who is a Fellow of the Australian
Institute of Mining and Metallurgy. Mr Stepcich is an Associate of,
but not a permanent employee of Mining Associates. Mr Stepcich
consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.

Mr Phil Bentley was the Competent Person responsible for all other
Ore Reserve estimates including pits, stockpiles, waste dumps and
tailings. Mr Bentley is an employee of Manuka Resources Ltd and
a Fellow of the GSSA and a member of SACNASP. Mr Bentley has
sufficient experience that is relevant to the style of mineralisation
and type of mineral deposits being reported on in this release and

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
7


to the activity being undertaken to qualify as a Competent Person
as defined in the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves (“JORC Code 2012 Edition”). Mr Bentley consents to the
inclusion in the release of the information on Surface dump and
Tailings dam Ore Reserves based on his information in the form
and context in which it appears.

1. The preceding statements of Ore Reserves conforms to the
‘Australasian Code for Reporting of Exploration Results Mineral
Resources and Ore Reserves (“JORC Code 2012 Edition”).
2. All tonnages reported are dry metric tonnes.
3. Data is rounded to thousands of tonnes and thousands of
ounces gold. Discrepancies in totals may occur due to rounding.
4. Cut-off Grade:
• Open Pit - The Ore Reserves are based upon an internal cut-
off grade greater than or equal to the break-even cut-off
grade.
• The commodity price used for the Revenue calculations for
Wonawinta was AUD $50 per ounce Ag.
• The commodity price used for the Revenue calculations for
Mt Boppy was AUD $4,000 per ounce Au.
• The Ore Reserves are based upon a State Royalty of 2.5%
and a refining charge of AUD $0.25/Oz Ag and AUD $7.69/Oz
Au.
The announcements containing the Table 1 Checklists of
Assessment and Reporting Criteria relating to the 2012 JORC
Reserves are:

29 July 2025: Maiden Mt Boppy Open Pit Ore Reserve
30 May 2025: Cobar Basin Production Plan - Manuka to produce
13.2 million ounces of Silver plus Gold from existing Wonawinta
Processing Plant

No Material Change
The Company confirms that it is not aware of any new information
or data that materially affects the information included in the 26
September 2025 Announcement and that all material assumptions
and technical parameters underpinning the estimates contained in
the 26 September 2025 Announcement continue to apply and there
have been no material changes.

Financial Performance and Position
As at 31 December 2024, Manuka Resources Limited reported total
assets of A$61.2 million and net assets of A$8.6 million. The
Group’s asset base includes exploration and evaluation assets,

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
8




property, plant and equipment, and financial assets. Total liabilities
stood at A$52.6 million, with borrowings representing the largest
component of current liabilities.

For the half-year ended 31 December 2024, the Group recorded a
net loss of A$8.7million, reflecting ongoing investment in its
development assets and project pipeline. Cash flows during the
period were primarily allocated toward exploration, care and
maintenance, and project advancement activities.

Further detail on the Group’s financial performance and cash flow
position is set out in the 31 December 2024 Interim Financial Report
and June 2025 Quarterly Cash Flow Report, available on the ASX
platform (ASX: MKR). The Company will release its 2024-2025
Annual Report before end of September 2025.

Recent Capital Raising
In July 2025, Manuka Resources Limited announced a fully
underwritten non-renounceable entitlement offer (the Offer) to
raise approximately A$8.0 million. The results of the Offer were
released through the ASX on 5 August 2025 and summarised as
follows: total funds raised (cash) A$6.28million, out of total
acceptances A$7.97million. The funds are intended to support the
restart of the Wonawinta processing plant, commencement of the
Company’s 10-year Cobar Basin Production Plan, repayment of
debt, and the ongoing progression of its Trans-Tasman Resources
(TTR) environmental approvals in New Zealand.

In addition, a further 26.51 million & 9.1 million New Shares to Sub-
Underwriters & Creditors in satisfaction of outstanding amounts
owing, were issued, therefore effectively raising an additional
A$1.53 million.

The company also issued a further 10.96 million New Shares to the
Lead Manager and Sub-Underwriter in satisfaction of fees.
Furthermore, the underwriters were issued a combined total of 40
million options at a strike price of 10 cents per option and with an
expiry date of 7 August 2028.

The Company notes that it will release its Annual Report for the
2024-25 financial year through both the ASX and NZX on 30
September 2025.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
9


Brief history of issuer
Manuka Resources Limited was incorporated in 2016 and listed on
the Australian Securities Exchange (ASX: MKR) in July 2020. The
Company was initially established to purchase the Wonawinta
Silver project and neighbouring tenements. In 2019, MKR
purchased the Mt Boppy gold project and neighbouring tenements
and moved to progress development of these precious metals

assets in the highly mineralised Cobar Basin, New South Wales.
The initial focus was on restarting production at the historically
significant Mt Boppy Gold Mine which had halted production in
2015. Production from Mt Boppy was successfully restarted in April
2020 and continued on until February 2022. In April 2022,
production at the Wonawinta silver project recommenced (this
project had also been previously halted in 2015) and continued until
December 2022. The objective of the restart was twofold, one to
improve metallurgical recoveries and the second to increase plant
throughput from 850,000tpa to 1.0Mtpa. The detailed tenement
listing for both Wonawinta and Mt Boppy follows below.

In November 2022, Manuka completed its acquisition of Trans-
Tasman Resources Limited (TTR), which holds the Taranaki VTM
Iron Sands Project located offshore in the South Taranaki Bight,
New Zealand. Since acquisition, the project has undergone
significant technical, environmental, and economic evaluation. In
May 2025, TTR’s application into the New Zealand Government’s
Fast Track Approvals process was accepted as complete, enabling
progression toward development approvals.

The TTR owned mining permit (MMP55581) is host to one of
world’s largest vanadium contained resources. As confirmed in the
United States Geological Survey January 2025 link attached (link),
TTR’s expected annual vanadium contained will exceed 10% of
global supply.

The background to the TTR Fast-track application is as follows:
TTR lodged its Fast-track approvals application (FTAA) on 15 April
2025. TTR’s Application FTAA008-2504-1048 application was
accepted as complete and an EPA Completeness Report issued on
15 May 2025. The FTAA is now with the Fast-track panel conveners
to appoint the expert panel to assess the project, set a specific time
frame for the decision to be delivered (a broad timing outline is
provided on page 2 above) and set any conditions to operate. The
full application and correspondence can be viewed on the Fast-
track website at:
https://www.fasttrack.govt.nz/projects/taranaki-vtm

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
10






TTR has been granted mineral mining permit MMP55581 by the
Crown on 2 May 2014 for a 20 year term with right to extend and
mineral exploration permit MEP54068 by the Crown on 19
December 2012, expires on 19 December 2025 and an application
for a mineral mining permit over the same area is in progress to be
submitted prior to the expiry of MEP54068.

Manuka acquired the Wonawinta Silver Project in 2016, including
an 84-person mine camp, a 1Mtpa processing plant, and associated
infrastructure. Wonawinta had previously been Australia’s largest
primary silver producer and remains one of the few fully permitted
silver assets in the country. Between 2020 and 2023, Manuka re-
commissioned the Wonawinta plant to process gold-bearing
material from Mt Boppy and later silver stockpiles, validating
historical processing performance and assessing future
improvements from plant circuit upgrades. Wonawinta tenement
package includes the following Exploration Licences: EL6155,
EL6302, EL6482, EL6623, EL7345, EL7515, EL8498. Mining
Lease: ML1659.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
11




In 2019, Manuka acquired the Mt Boppy Gold Project, comprising
an open pit, a 48-person mine camp, and surrounding exploration
tenements. The mine has a strong production history, having
produced over 500,000oz of gold in the early 1900s. Following
small-scale operations in 2020, the Company announced in July
2025 a JORC Probable Ore Reserve of 290kt @ 4.2g/t Au
(39,100oz Au), based on updated mining and cost parameters.
Production restart planning is underway, with ore to be processed
at Wonawinta. Mt Boppy tenement package includes the following
titles: Exploration Licences/Gold Licences (EL/GL): EL5842,
GL3255, GL5836, GL5848, GL5898. Mining Leases: ML1681,
ML311. Mining Purpose Lease: MPL240.


Manuka listed on the ASX in July 2020 and since then has
continued to expand its resource base, progress feasibility work
across its project portfolio, and position itself for near-term
production. The Company now holds a diversified mix of precious
and critical mineral assets spanning Australia and New Zealand,
including one of Australia’s only permitted silver operations with a
processing facility, and a globally significant offshore VTM project.
Key features/terms of the
financial products
The Company’s ordinary shares are quoted on the Australian
Securities Exchange (ASX) under the code MKR. These are fully
paid ordinary shares that rank equally in all respects.

• Class of financial product: Ordinary fully paid shares
• ASX code: MKR

The Company does not currently pay dividends and has not
adopted a formal dividend policy. Dividends may be considered by
the Board once the Company achieves sustainable operating cash
flow and profitability.

In addition to its quoted ordinary shares, the Company has a
number of unquoted options on issue. These securities do not
carry voting or dividend rights and are not quoted on the ASX. All
the outstanding unquoted options on issue are:

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
12























As at the date of this Profile, Manuka Resources has more than
2,200 shareholders. No individual shareholder holds a relevant
interest exceeding 12% of the Company’s issued capital.
Details of tax consequences
applicable to the financial
products
Buying, holding, or selling shares in Manuka Resources Limited
may have tax consequences. These will depend on your personal
situation and where you live for tax purposes. Australian
shareholders may be eligible for franking credits on dividends. Non-
Australian shareholders may be subject to withholding tax on
dividends. You should speak to a tax adviser to understand how
this applies to you.
Details of the directors’ intentions
as to [Issuer’s] future dividend
policy
Applies to equity securities only
Manuka does not expect to declare dividends in the near term as
the Company focuses on recommencing production and advancing
project development. The dividend policy will be reviewed
periodically, and dividends may be considered once the Company
generates sustainable profits and positive operating cash flow.
Details of any waivers from the
ASX listing rules
Manuka Resources Limited has not sought, and does not currently
rely on, any waivers from the ASX Listing Rules. Should any
waivers be granted in the future, the Company will disclose them in
accordance with ASX requirements.
Website URL to access previous
announcements by the issuer
under the ASX listing rules
https://www2.asx.com.au/markets/company/mkr

https://www.manukaresources.com.au/site/investor-centre/asx-
announcements
Section 2: Contact details
Address of registered office in
place of incorporation
Level 4, Grafton Bond Building, 201 Kent Street, Sydney NSW
2000
Date
Options
Granted

Expiry Date
Exercise
Price of
Shares
Number
under
option
Dec-22 16
th
Dec 2025 $0.17 19,571,419
Nov-23 17
th
Nov 2025 $0.05 10,000,000
Nov-23 31
st
Dec 2025 $0.10 25,757,575
Jan-24 24
th
Jan 2026 $0.08 5,000,000
Apr-24 31
st
Mar 2026 $0.08 5,000,000
Jun-24 30
th
Jun 2026 $0.06 1,162,611
Jun-24 3
rd
April 2027 $0.11 5,000,000
Jun-24 26
th
June 2026 $0.04 5,000,000
Jul-24 15
th
May 2026 $0.06 17,488,481
Jul-24 15
th
May 2026 $0.06 87,789,962
Dec-24 31
st
May 2026 $0.06 22,000,000
May-25 31
st
May 2026 $0.06 3,000,000
Jun-25 29
th
Jun 2026 $0.06 1,000,000
Aug-25 7
th
Aug 2028 $0.10 40,000,000

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
13



Contact telephone number for
investor enquiries
+61 2 7253 2020
E-mail address for investor
enquiries
admin@manukaresources.com.au
Website URL
(for investor information)
https://www.manukaresources.com.au/site/investor-
centre/investor-welcome
Section 3: Other details
Place and date of incorporation Victoria (Australia) - 20/04/2016
Legislation under which
incorporated
Corporations Act 2001
Annual balance date 30 June
Home Exchange Australian Securities Exchange – ASX
Listing category on Home
Exchange
Equity
Any other exchanges on which
the issuer is listed or financial
products quoted
Frankfurt Stock Exchange - MKR is listed as a foreign entity and
there are no material listing obligations for MKR in relation to this
listing
Name of audit firm RSM Australia
Currency of reporting AUD
Name of financial product
registry
In Australia we use Automic Group Pty Ltd
In New Zealand it will be MUFG Pension & Market Services
Address of financial product
registry
Level 30, PwC Tower,15 Customs Street West, Auckland
Telephone number of financial
product registry
+649 375 5998
Fax number of financial product
registry
n/a
Email address of financial
product registry
Enquiries.nz@cm.mpms.mufg.com
Section 4: Governance
1
Full name of all current directors Dennis Peter Karp (Executive Chairman)
Alan John Eggers (Executive Director)
John Andrew Gowans Seton (Non-Executive Director)

1
If the applicant is a fund or managed investment scheme, provide details for the manager/responsible
entity

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au
14



Full name and title of
CEO/managing director
Mr Dennis Karp, Executive Chairman
Full name and title of CFO Richard Holstein, CFO
Full name and title of Company
Secretary
Ms Eryn Kestel, Company Secretary
Section 5: Confirmation
Confirmation this Profile
document is complete and
accurate, and that the issuer
holds no information that has not
been disclosed to ASX that
should have been disclosed
under the ASX listing rules
Confirmed
Confirmation the issuer complies
with the listing rules of ASX
Confirmed
Section 6: Authority for this Profile
Name of person authorised to
release this Profile
Dennis Karp
Contact person for this
announcement
Alan J Eggers
Contact phone number +61 2 7253 2020 /
Contact email address admin@manukaresources.com.au

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au




NZ RegCo 22 September 2025
Level 2, NZX Centre
11 Cable Street
Wellington 6140

By email: issuer@nzregco.com

Manuka Resources Limited - Application for Listing as a NZX Foreign Exempt Issuer and
Quotation of Equity Securities on the NZX Main Board
Manuka Resources Limited is making this application to list as a NZX Foreign Exempt Issuer,
and quotation of the issuer’s securities on the NZX Main Board. Manuka Resources Limited has
a listing and quotation on the Australian Securities Exchange (ASX). Manuka Resources Limited
trades under ticker MKR on the ASX and has been listed since 20 July 2020.

Mr Dennis Karp provides this application for listing and quotation on behalf of Manuka
Resources Limited in accordance with the NZX Listing Rules (Rules).

Manuka Resources Limited requests that the ticker code MKR be reserved by NZX for Manuka
Resources Limited.
Listing information – Rule 1.12

Rule Requirement Information
1.12.2(a)
Listing Agreement
The Pre-Listing Agreement was signed on 10 July 2025

A Listing Agreement signed by Manuka Resources
Limited will be provided prior to the Listing date.
1.12.2(b)
Governing Document
The Governing Document is provided with this letter.
1.12.2(c)
Payment of fees
Manuka Resources Limited confirms that it will pay all
fees prescribed by NZX while Listed.
1.12.2(d)
Quotation
See section below Quotation Information.
1.12.2(e)
Certificate of Incorporation
The certificate of incorporation is provided with this letter.
1.12.2(f)
Bond
The deposit required is to be provided.

Information on the bond can be found in the NZX Fee
Schedule.
1.12.2(g)
Securities on Issue
Manuka Resources Limited currently has 1,065,384,853
ordinary shares on issue.
Manuka Resources Limited does not intend to issue or
allot further securities prior to or on listing.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au


1.12.2(h)
Contact addresses
The contact details of Manuka Resources Limited are:

Phone number: + 61 2 7253 2020
Postal address: Level 4, Grafton Bond Building, 201 Kent
Street Sydney NSW 2000 Australia
Email address: admin@manukaresources.com.au
1.12.2(i)
Annual Reports
Annual reports for the past two years (2023 and 2024) are
attached.
FY 2023-24: https://shorturl.at/zd0Oe
FY 2022-23: https://shorturl.at/qWWaV
1.12.2(k)
Any other information
Interim financial statements/report: Any interim financial
statement/interim report that is more recent than the
applicant’s latest annual report is attached (if applicable).
N/A

MAP agreement: A copy of the Market Announcement
Platform (MAP) agreement, signed by Manuka
Resources Limited, accompanies this letter.

Information for NZX.com: An overview of issuer’s
business for inclusion on NZX.com, is set out below:
Manuka’s strategic focus is led by its wholly owned New
Zealand subsidiary, Trans-Tasman Resources Limited
(TTR), which is advancing the Taranaki VTM Project
through the New Zealand Government’s Fast Track
Approvals process.The Project is expected to be a top-
tier contributor to New Zealand’s export economy and
deliver long-term regional and national economic
benefits.

In parallel, Manuka is preparing to recommence
production from its Australian-based assets — the
Wonawinta Silver Mine and the Mt Boppy Gold Project.
Both projects are fully permitted and supported by a 1Mtpa
centralised processing plant at Wonawinta. The Company
recently announced JORC Ore Reserves at both projects,
including a July 2025 open pit Probable Reserve at Mt
Boppy of 290kt @ 4.2g/t Au for ~39,100oz, underpinning
the staged restart of operations.

Other applications: Please confirm that the applicant has
not previously applied for, and had declined or has
withdrawn, listing and quotation on another securities
exchange OR details of the relevant exchange and
circumstances.

Confirmed

Provide any other information or documents that NZX has
requested.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au



N/A
1.7.2(d)(ii)
Details of any existing waivers
Please summarise any waivers from all or part of the ASX
listing rules which are currently being relied upon, or upon
which the Issuer has relied within the 12 months prior to
this application.

N/A

Quotation information – Rule [1.13/1.15]

Rule Requirement Information
Details of the Securities for which
application for Quotation is sought
Number: 1,065,384,853 Securities will be on issue
subsequent to Quotation
Class: Ordinary Listed Shares
Face value (if any): N/A
ISIN: AU0000090292
Note the list price of the Securities to be Quoted on NZX
will be the closing price on the last ASX trading day prior
to NZX Quotation, adjusted for foreign exchange.
Profile in respect of the Securities The Profile in the form of the NZX template is attached
to this document.
Registry information MUFG Pension & Market Services will be the registry
MKR uses in New Zealand. The Company uses Automic
as its registry in Australia

Please discuss with NZX if the Issuer uses a different
registry to one of the above.
All other documents or information
as specified in any guidance
published by NZX from time to time
N/A
Any other information required by
NZX
We have received no further requests for information
from NZX.



Manuka Resources Limited confirms the information provided to NZX is complete and accurate.
Manuka Resources Limited acknowledges that NZX may disclose certain information or this
application, including with ASX and ASIC.


Manuka Resources Limited acknowledges that NZX is not obliged to grant a listing or quotation
application, regardless of whether Manuka Resources Limited complies with all applicable
provisions of the Rules. NZX may refuse an application in its absolute discretion and without
giving any reasons for such reasons.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +61 2 7253 2020 www.manukaresources.com.au



Dated: 22 September 2025






Dennis Karp
Executive Chairman

REQUEST FOR REMOVAL OF SECURITIES FORM
RRS2502


Company/Issuer in which Investment is held
Full Name(s) of Registered Holding

Registered Address
Postcode

Full Description of Securities
Number of Securities to be Removed



I/We request the securities be removed from the register of:
Name of country



To the register of:
Name of country


Contact Name

CSN/SRN



CSN/SRN





I/We authorise you to act in accordance with my/our instructions set out above. I/We acknowledge that these instructions supersede
and have priority over all previous instructions relating to consolidation of our holding. I/We hereby state that I/we are the legal
owner(s) of securities recorded on the register under the stated CSN/Holder Numbers.
Investor 1 (Individual) Joint Investor 2 (Individual) Joint Investor 3 (Individual)



This form should be signed by the investor. If a joint holding, all investors should sign. If signed by the
investor’s attorney, the power of attorney must have been previously noted by the registry or a certified
copy attached to this form. If executed by a company, the form must be executed in accordance with the
company’s constitution and the New Zealand Companies Act 1993.
Date
Privacy Clause: MUFG Pension & Market Services (NZ) Limited advises that Section 87 of the Companies Act 1993 requires certain information about you as an
investor (including your name, address and details of the securities you hold) to be included in the public register of the Issuer in which you hold securities.
Personal information is collected in order to administer your holding. If part or all of the information is not provided, then it might not be possible to administer your
holding. Please note that the personal information collected may be disclosed to the Issuer in which you hold securities. You can obtain access to your personal
information by contacting us at the address or telephone number shown on this form. Our privacy policy is available on our website (mpms.mufg.com).

PO Box 91976, Auckland 1142 | +64 9 375 5998 | operations.nz@cm.mpms.mufg.com | nz.investorcentre.mpms.mufg.com


MUFG Corporate Markets
A division of MUFG Pension & Market Services

, ,
/ /
REMOVAL DETAILS – USE CAPITAL LETTERS A
B SIGNATURE(S) OF INVESTORS(S) — THIS MUST BE COMPLETED