Dittmer Project

The Dittmer Project is located 20km west of Proserpine in North Queensland and comprises two granted MLs, one ML application and three granted EPMs covering an area of 513km2. Ballymore has successfully identified an extension to the historic high-grade orebody and is engaged in studies with the aim of re-opening the Dittmer Mine, which operated during the 1930 – 50s at a reported gold head grade of 151 g/t Au.

Dittmer Project is emerging as a broader district gold-copper growth story.

Drilling stages 1 - 5 delivered outstanding gold-silver-copper grades confirming a faulted repeat of the historic Dittmer Mine’s high-grade Duffer Lode.

Stage 6 drilling program over 3,000m in Q2 2026 will test the southern extension of the Duffer Lode and support a maiden Mineral Resource Estimate in Q3 2026.

Field work has extended Dittmer mineralised corridor to more than 5km, returning rock chip assays up to 807.7g/t Au and stream sediment assays up to 39g/t Au.

Regional geology shows potential for a nearby porphyry copper-gold system and additional lodes.

Repetition of Dittmer’s bonanza-grade gold lode recognised 30m from historic mine workings

Regional potential summary

The historic Dittmer Mine forms one of several old high-grade workings along a 2km north-northeast trending corridor which is also crosscut by a series of structures with associated historical workings. Field work, including mapping, rock chip, soil and stream sediment sampling, was completed by Ballymore in 2023 to assess Dittmer’s size potential.

Other nearby workings are primarily shallow, open pit mines that operated between the 1890’s and 1930’s and mined at average grades of up to 567 g/t (e.g. Loch Neigh Mine) with copper grades not reported. Despite the presence of extensive workings in the area, this corridor has undergone little or no modern exploration.

Land Court of Queensland recommends Dittmer Mining Lease and proposed Environmental Authority for approval.

The Company applied for new mining lease ML 100351 on 20 July 2023, covering extensions to known mineralisation at the Dittmer Project. As part of the application process, the matter was referred to the Land Court of Queensland for a recommendation to the Minister for Natural Resources and Mines whether the MLA ought to be granted and to make recommendations as to the appropriate EA conditions. Having heard the proceedings regarding the application for mining lease and objections under the Mineral Resources Act 1989 and the Environmental Protection Act 1994, the President of the Land Court of Queensland, Member P.G. Stilgoe OAM, delivered her decision on 11 July 2025, and issued the following orders (paraphrased):

The Court recommended that:

1) MLA 100351 be approved by the Honourable Minister responsible for the Mineral Resources Act 1989 (Qld)

2) That the draft Environmental Authority EPSL 00460513 be issued pursuant to the Environmental Protection Act 1994 (Qld)

Following this decision by the Land Court of Queensland, the Court’s recommendations will now be considered by the relevant Queensland state ministers with a final decision on the new Mining Lease expected in the near future.