Consent Granted for Bendigo Gold Project Land Purchase

Santana Minerals Ltd
Level 1, 371 Queen St
Brisbane, QLD 4000
ABN 37 161 946 989
GPO Box 1305
Brisbane, QLD4000

T: +61 7 3221 7501



7 May 2026

Consent Granted for the Purchase of 3,680 Hectares of Freehold
Land for the Bendigo-Ophir Gold Project
New Zealand’s Overseas Investment Office (OIO) has granted consent for Santana’s wholly owned local
subsidiary Matakanui Land Ltd to purchase:
▪ 797 hectares
1
of Bendigo Station, that will encompass the proposed open pits, engineered
landform (ELF) and related infrastructure areas at Rise and Shine, SREX, SREX East and Come-in-
Time deposits.
▪ 92 hectares
1
of Bendigo Station, that will include 29 hectares of favourable landscape for the
Bendigo Sanctuary proposed under its Fast-track Approvals Act (FTA) application.
▪ 2,880 hectares
1
of Ardgour Station, that will include administration offices, infrastructure,
processing plant, Shepherds Creek ELF and the tailings storage facility. Significantly, 1,263 hectares
will be set aside to achieve ecological offsetting by native planting, managed sheep grazing, pest
and weed control and habitat enhancement over the 35 years of consent applied for under the
FTA application.
The decision by the OIO after an extended period of intense scrutiny recognises the many benefits to
New Zealand including:
▪ A direct capital investment of over NZ$500 million over its 13–14-year life span.
▪ Employment of approximately 350 full-time equivalent (FTE) personnel on a steady-state basis
over the construction phase and operating life of the mine.
▪ Increased export receipts.
▪ Increased processing of primary products.
▪ Stimulation of the local economy through an increase in direct employment and local sourcing of
products and services by the mine and its staff; and
▪ Advancement of the Government’s Minerals Strategy.
The OIO consent is subject to several conditions including:
▪ Full settlement prior to 31 December 2026.
▪ Attaining resource consent to construct a gold mine on the land by 31 March 2035; and
▪ Operating a gold mine and expending NZ$250 million on capital improvements to the land, and/or
infrastructure on the land, within five years of grant of resource consent.
Santana expects these conditions will be met, with the final decision on the Company’s application
under the FTA scheduled for 29 October 2026, and the development plan targeting first gold
production in early 2028.




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Subject to survey
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CEO, Damian Spring commented:
“This decision is a strong signal that New Zealand is open to foreign investment and recognises the
importance of responsible mineral development for regional and national prosperity. With
approximately 40% of Santana shareholders based in New Zealand, the benefits of the Bendigo-Ophir
Gold Project will be shared broadly across the country through employment, investment, exports and
regional economic activity.
Ownership of the land, together with a granted 30-year Mining Permit from New Zealand Petroleum
and Minerals, provides long-term certainty for the Project and enables Santana to responsibly develop
the value of the Bendigo-Ophir Gold Project for employees, local businesses, the New Zealand
Government and shareholders alike. Importantly, it also supports the delivery of a lasting
environmental legacy through predator-proof sanctuaries and large-scale ecological enhancement
initiatives for generations to come.”
This announcement has been authorised for release by the Board.
Enquiries:

Damian Spring
Exec. Director & CEO
dspring@santanaminerals.com
Sam Smith
Exec. Director & CDO
ssmith@santanaminerals.com