Lunnon Metals signs contracts and kicks off mining at Lady Herial

9 February 2026 | Kambalda, WA – Lunnon Metals (ASX: LM8) has signed key contracts and commenced site establishment at the Lady Herial gold project on the Foster belt at St Ives, with mining of the first benches imminent. The company confirmed agreements with Hampton Mining & Civil Services (mining) and Goldfields Technical Services (statutory positions, blast design, dig plans, mine geology, surveying and ROM management), following the Board’s Final Investment Decision on 19 January 2026.

Lady Herial will be the first new mine (gold or nickel) on the Foster belt in over 30 years and the first open pit on land at St Ives since 2014. A recent Feasibility Study outlined a plan to mine ~268,000 tonnes @ 1.89g/t Au for ~16,270oz, which, at current Australian-dollar gold prices (around A$7,000/oz), has the potential to generate ~A$45 million in pre-tax cash flow for Lunnon. The company reiterated that all material assumptions underpinning the Feasibility Study remain unchanged.

Managing Director Edmund Ainscough said, “Today’s announcement marks the culmination of months of focused effort to de-risk Lady Herial on the technical, geological and regulatory fronts. It also represents nearly two years of hard but smart work by the exploration team. On behalf of the Board, I wish to thank everyone involved for their commitment and focus in helping the Company to achieve this exciting milestone.”

Lunnon said contractors are mobilised, clearing is underway, and first ore mining is scheduled for later this month, progressing in partnership with major shareholder and ore-purchasing partner St Ives Gold Mining Co. Pty Ltd