Letter of Intent Executed for Provision of Mining Services

ASX Announcement
23 March 2026

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
Manuka executes LOI with Macmahon for provision of
mining services

Background
Manuka Resources Limited (ASX: MKR) (“Manuka” or “the Company”) is pleased to
announce that it has entered into a Letter of Intent (“LOI”) with Macmahon Holdings
Limited (“Macmahon”) for the provision of mining services at the Company’s Wonawinta
Silver project, located in the Cobar Basin in central west New South Wales.

HIGHLIGHTS

• LOI executed with preferred mining contractor Macmahon
• Scope covers full open pit mining services including conventional drill & blast, load
& haul operations
• Supports the planned recommencement of the Wonawinta Project, with initial
production scheduled to kick-off in May 2026 on existing gold and silver
bearing stockpiles
• Target commencement of Macmahon services: June 2026
• Initial contract term expected as 5-years with total value of services of ~A$190m

STRATEGIC CONTEXT


The execution of the LOI represents a key step in advancing Manuka’s Cobar Basin
Project toward production. Macmahon is a well-established mining contractor with
extensive experience across Australian gold and base metal operations.
• De-risk mining operations through experienced contract mining capability
• Provide operational flexibility and scalability
• Support delivery of development timelines and production targets



Dennis Karp the Company’s Executive Chairman noted:

Manuka welcomes the commitment from Macmahon to the restart of our Wonawinta
project. Their experience and expertise effectively de-risks the process. This is a
material step forward for Manuka and brings the successful delivery of silver and gold
production one step closer. We will move to complete the execution of the definitive
mining services agreement during April 2026.


AUTHORISED FOR RELEASE

This announcement has been authorised for release by the Board of Directors of Manuka
Resources Limited.

FOR FURTHER INFORMATION

Dennis Karp Investor Relations
Executive Chairman James Moses
Manuka Resources Limited Mandate Corporate
Tel. +61 2 72532020 Tel: +61 420 991572