Major Milestone as Lefroy Secures first Toll Milling agreement

About this update from Lefroy Exploration Ltd.

Lefroy Exploration Limited ('Lefroy' or 'the Company') (ASX: LEX) is pleased to announce that it has secured what will be the first of a planned series of toll milling agreements for processing ore from the Lucky Strike Gold Project ('Lucky Strike'). The Lucky Strike Gold Project contains an MRE of 1.27Mt @ 1.95 g/t Au for 79,600 ounces (Indicated 0.70Mt @ 1.93 g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97 g/t Au for 36,200 oz). LEFROY CEO, GRAEME GRIBBIN , COMMENTED: 'Securing Lefroy's first toll milling agreement via our mine profit-share partner BML to process ore at the Greenfields Mill in Coolgardie represents another important milestone for the Company, as we advance down our path of commencing operations at Lucky Strike and finally unlocking value for Lefroy shareholders'. 'With drill rigs on site, permitting advancing and the first ore processing agreement in place, we are methodically advancing the Lucky Strike project towards operations and production in the second half of 2025'. TOLL MILLING AGREEMENT The Company is pleased to announce that it has secured its first toll milling agreement via its mine profit-sharing partner BML Ventures Pty Ltd (BML), between BML and FMR to toll treat Lucky Strike ore at the Greenfields Mill in Coolgardie. Details of the agreement include: BML and FMR have entered into an agreement whereby BML has secured a February 2026 milling slot (FMS) to toll treat third party ore from Lucky Strike. The 1-month FMS commences from 29 January 2026 to 26 February 2026 , subject to final, minor scheduling adjustments. BML to notify FMR in writing by no later than 7 January 2026 of its intention to proceed with the FMS, with all metallurgical test work provided to FMR to be accepted by the same date. DRILLING PROGRESS The first phase of grade control drilling remains on target to be completed by the end of June (9200m drilled of a total 16,500m planned), with the Company particularly encouraged by the exceptional assay results received in early June (refer ASX release 3 June 2025). Contact: Graeme Gribbin CEO Lefroy Exploration [email protected] Tel: +61 8 9321 0984 Fiona Marshall White Noise Communications Email: [email protected] Tel: +61 400 512 109 (C) 2025 Electronic News Publishing, source ENP Newswire

View stock analysis, news, and events for Lefroy Exploration Ltd.