Auric Mining's Second Gold Milling Campaign Completion

Auric Mining Limited (ASX:AWJ) has successfully completed the second gold milling campaign for 2024 at the Jeffreys Find Gold Mine, near Norseman, WA. The campaign, which ran for 42 days from July 24, 2024, to September 4, 2024, resulted in the recovery of 6,295 ounces of gold from 127,610 dry metric tonnes, with gold sales totaling $23.48 million. The average gold price achieved during the campaign was AUD$3,731 per ounce, with the highest price reaching AUD$3,859 per ounce.

Managing Director's Perspective on the Second Gold Milling Campaign

Managing Director, Mark English, expressed satisfaction with the progress, highlighting the successful production of over 7,500 ounces of gold for the year. He also mentioned the upcoming third gold milling campaign scheduled for late November, anticipating a substantial cash flow for Auric as the project nears completion. Mr. English acknowledged the lower than expected processed tonnes but emphasized the higher gross revenue due to the exceptional gold price. He also discussed the future processing plans at Greenfields and the positive outlook for Jeffreys Find, emphasizing its significant contribution to Auric's cash flow.

Summary of Auric Mining's Second Gold Milling Campaign

Auric Mining Limited (ASX:AWJ) has successfully completed the second gold milling campaign at the Jeffreys Find Gold Mine, yielding 6,295 ounces of gold with total sales amounting to $23.48 million. The company has received an initial surplus cash distribution of $2.0 million and has been repaid the $1.0 million working capital advance. With the upcoming third gold milling campaign and additional processing plans at Greenfields, Auric anticipates a positive cash flow and substantial production in 2024 and early 2025. The company's forward-looking statements emphasize the potential risks and uncertainties but maintain a positive outlook for the future.