Announcement PDF Theta Gold Mines Limited ACN 131 758 177 Registered Office: Level 35, One International Towers, 100 Barangaroo Avenue Sydney, NSW 2000, Australia 30 October 2026 ASX ANNOUNCEMENT AND MEDIA RELEASE (ASX: TGM) QUARTERLY REPORT 1 July 2026 to 30 September 2026 Theta Gold Mines Limited (“Theta”, “TGM” or the “Company”) (ASX: TGM) is pleased to report continued progress towards first gold in 2027, with construction advancing across the TGME Gold Project and the first US$37 million bond drawdown completed during the September quarter. During the September 2026 quarter, the Company progressed development of the TGME Gold Project (‘TGME’ or the ‘Project’) in South Africa. TGM achieved its first US$37 million drawdown under the US$90 million senior secured bond facility, following completion of the US$18.6 million equity raising and option exercise. A further drawdown is anticipated in early November 2026, subject to applicable conditions. Construction continued across multiple work fronts during the quarter, with approximately 72% of plant construction completed (30 September 2026). Key processing infrastructure advanced materially, including the twin ball mills, crushing and screening circuit, CIL circuit, gold room, elution circuit, water infrastructure and Tailings Storage Facility. Highlights: During the September 2026 Quarter: • US$37 million first bond drawdown completed – representing the first release of funds under TGM’s US$90 million senior secured bond facility1 and supporting the next phase of project execution. • Equity funding – US$18.6 million equity funding completed (A$27 million) before costs. The combined placement and option exercise completed during the quarter satisfied the final equity funding condition required under the bond facility. • Plant construction approximately 72% complete – with major civil, structural and mechanical work fronts advancing across the processing plant. • Processing plant taking shape – twin ball mills installed, structural steel and platforms advancing, and key processing infrastructure progressing across the crushing, milling, CIL, thickener, elution and gold room areas. • Infrastructure advancing in parallel – water management infrastructure, process ponds, access roads and Tailings Storage Facility works progressed during the quarter. • Clear line of sight to production – project execution is increasingly centred on completing plant installation, infrastructure and commissioning activities required to bring TGME into production in 2027. • Project remains on budget – with clear visibility to first gold and continued progress across critical path activities. 1 US$90 million bond is issued at 95.9% net of OID leaving an amount available to be drawn down under the bond of US$86.3 million. 2 Figure 1: Aerial view of site construction with stockpile material in background to feed the plant Figure 2 and 3: Gold Room equipment including Keegor Furnace and Gold Casting equipment 3 TGME Construction Advances Towards 2027 Production Construction of the TGME Gold Project advanced across multiple work fronts during the September quarter, with major civil works progressing and several areas moving into structural erection and equipment installation. • Processing plant footprint well established, with gold room and mill structural steel erection close to completion. • Civil works advanced across Crushing and Screening Plant, Carbon in Leach (CIL), milling, thickener and elution circuits, with over 72% of total concrete volume poured. • Key supporting infrastructure advanced, including water-management systems, processing ponds, access roads and material-handling areas. • Critical long-lead equipment either installed or close to being installed, including twin ball mill assembly nearing completion and key plant components. • CIL tanks and process vessels in final fabrication and coating, aligned with installation schedule. • Groundworks started on the upgrading of the Tailings Storage Facilities. • 55 offices and administration complex are near completion. Figure 4: TGME Gold Project aerial view of the TSF (bottom: Laydown area; middle: TSF; top right: new plant under construction) More detailed summaries are provided below: Crushing and Screening Plant • Civil foundations and structural supports nearing completion. • Crushing plant equipment in transit to South Africa ahead of site installation. Ball Mill and Milling Circuit • Civil foundations and structural supports established, progressing to installation readiness. 4 • Twin Ball mill assembly now installed. • Structural steel and platforms in place, supporting transition to mechanical installation. CIL Circuit • Tank base construction advanced, with reinforced foundations and equipment pedestals nearing completion. • Structural integration progressing, aligned with tank delivery and installation schedule. • Circuit layout clearly defined within plant footprint. Tailings Thickener • Foundations and support plinths completed, with bund-wall construction and tank installation underway. Elution Circuit and Pump Cells • Civil works well advanced, supporting upcoming mechanical and piping installation. CIL Tanks and Process Vessels • Fabrication advanced, with tank shells, structural supports, nozzles, manways and lifting features installed. • Multiple vessels in coating and finishing, nearing delivery-ready status. Structural Steel and Modular Build • Structural steel, modular platforms and walkways fabricated and progressively installed. • Site erection advancing across the processing plant. Tailings Storage Facilities (TSF) • Cut-and-fill groundworks on top of the Tailings Storage Facility at 89% completion. • Return water dam groundworks completed. • Liner installation started on the number one return water dam. • Return water columns installed. Figure 5: Project Processing Plant (Plan View) Figure 6: Site aerial view highlighting plant footprint 5 Figure 7: Installation of conveyors to feed ball mills Figure 8: Team observation of conveyors Figure 9: Gold Room construction and MCC installation Figure 10: Cyanide Tank fabrication and delivery to site Figure 11: Thickener tanks installed at site 6 Construction of the TGME Gold Project advanced materially during the quarter, with works progressing across the processing plant and supporting infrastructure. With 72% of the total concrete volume now poured, major civil works are well advanced across the crushing, milling, CIL, thickener, elution and gold room areas. Structural steel erection commenced around the gold room and mill building as these areas began moving from major civil works into mechanical installation. Water-management infrastructure, process ponds, access roads, and material-handling areas also advanced, while Tailings Storage Facility groundworks began, opening another key construction front ahead of planned production in 2027. Figure 12: Concrete Pumping – Gold Room 7 Figure 13: Thickener Tank foundations in progress Figure 14: CIL tanks and elution buildings 8 Figure 15: Construction of new employee parking facilities with solar roof panels generating 160 Kilowatts Figure 16: Installation of Twin Ball Mills 9 Figure 17: Elution Building – simulated design against actual progressive build Figure 18: Offices and Administration Complex in progress Permitting and Licences Update The Company secured a 15-year Water Use Licence for Rietfontein during the quarter, completing Water Use Licence coverage across all four mines included in the TGME development plan. The approval represents another important step in preparing Rietfontein as a future underground ore source for the TGME Gold Project. The licence authorises the water uses required to redevelop and operate Rietfontein, including underground dewatering and water reuse, water storage, stream crossings, pollution-control and waste- management infrastructure, and rehabilitation of the historic Tailings Storage Facility following remining. The approval followed an extensive environmental assessment supported by specialist studies, engineering designs and technical investigations. Registered Interested and Affected Parties have been notified, commencing the statutory 90-day appeal period. The Department of Mineral and Petroleum Resources is in the final stages of reviewing the Environmental Authorisation application. Subject to its grant and completion of the associated statutory process, the principal regulatory approvals required to develop the Rietfontein Underground Mine will be in place. 10 Funding and Finance Update First Drawdown under US$90 Million Senior Secured Bond Facility The Company completed the first drawdown under its US$90 million Senior Secured Bond Facility on 9 September 2026, receiving US$37 million to support construction and development of the TGME Gold Project. The remaining facility balance is available to be drawn down progressively in line with the Project’s funding requirements, subject to satisfaction of applicable conditions, including project cost-to-complete tests. The facility was settled on 12 June 2026 after all pre-settlement conditions were satisfied and the bonds were issued. The net proceeds were deposited into a designated escrow account for progressive release in accordance with the facility’s drawdown conditions. The first drawdown marked the start of the Company’s progressive deployment of primary debt funding for project execution. US$18.6 million (A$27 million) Combined Equity Raise and Options Exercise On 3 July 2026, the Company announced it had successfully completed a combined equity raising and exercise of unlisted options, raising approximately US$18.6 million (A$27 million) before costs. The transaction satisfied the final equity funding condition precedent required under the Company's US$90 million bond facility, representing a significant milestone towards the development of the TGME Gold Project. The capital raising comprised: • A placement of approximately 125.8 million fully paid ordinary shares at A$0.18 per share, raising approximately US$15.6 million (A$22.6 million) before costs. • The placement was cornerstoned by Chengtun Gold (Hong Kong) Limited, a subsidiary of Shanghai Stock Exchange-listed Chengtun Mining Group Co. Ltd, which invested US$10 million. • The exercise of approximately 21.7 million unlisted options at A$0.2002 per share, raising approximately US$3.0 million (A$4.4 million) before costs from existing long-term strategic investors. Funds raised from the placement, option exercises and bond facility will be applied towards the continued construction and development of the TGME Gold Project, including: • processing plant construction; • mine development; • civil and infrastructure works; • tailings storage facility construction; • procurement and installation of plant and equipment; • power infrastructure upgrades; and • strengthening the Company's balance sheet and providing working capital to accelerate development towards first gold production in 2027. 11 Chairman, Bill Guy commented: “With the major funding components now in place, our attention is firmly on delivering the TGME Gold Project and moving towards planned gold production in 2027. This is an important period as construction advances, the processing plant takes shape, and we prepare the Project for commissioning and operations.” The crushing and screening equipment has been built and is en route to South Africa, expected to arrive in early Q4 2026. Earthworks and civils are well advanced, with non-critical works deferred to ensure critical works are available for mechanical installation and ready for first gold in Q1 2027. The TGME Gold Plant construction has benefited significantly from the same contractor undertaking the Earthworks/Civil and SMPP packages, removing potentially time-consuming interface issues. Executive Director, Richie Yang commented: “The support of Chengtun Mining and our long-term shareholders goes beyond the capital raised. It represents strategic backing for the Project and provides a strong foundation as we look beyond initial production to the broader growth opportunity across the goldfield.” Cash Position As of 30 September 2026, the Group had US$37.7 million (A$54 million) in cash. In accordance with ASX Listing Rules 5.3.1 and 5.3.2, the Company provides the following summary of expenditures incurred during the Quarter: Mining exploration costs (including exploration labour) US $ - Mining Production and Development Costs US $ 7,689,900.00 Licence to Operate Costs US $ 66,829.00 Total US $ 7,756,729.00 The Company’s Quarterly Appendix 5B reported US$165,000 in payments to related parties and their associates. As noted in Appendix 5B, these payments were for directors' fees and consulting fees. Capital Structure The current capital structure of the Company as at 30 September 2026 is as follows: Number Fully paid ordinary shares (ASX: TGM) 1,376,105,106 Listed /Unlisted options and performance rights (see “Annexure C”) 222,901,355 The estimated market capitalisation of TGM was A$247.70 million2 (US$173 million) as at 30 September 2026. Revised Definitive Feasibility Highlights (released 3 February 2026) Key operational results of the Revised Feasibility Study (FS): ❖ Production Start: Q1 2027 (TGME Gold Plant currently under construction) ❖ Head Grade LoM: 4.96g/t Base Case ❖ Base Case - Production: 871 Koz @ 4.28 g/t recovered grade (86.2% recovery) ❖ Base Case - Production: 1.06 Moz @ 4.40 g/t mined grade ❖ Production Ramp-up: Peak Production over 115 koz ❖ Ore Reserve Plan: 514 koz @ 4.11 g/t recovered grade (85.2% recovery) ❖ Gold plant: Plant construction underway 2 Calculated as 1,376,105,106 fully-paid ordinary shares on issue at the closing price of A$0.18 cents per share as at 30 September 2026 converted at the RBA exchange rate of AUD:USD of 0.6977. 12 ❖ Infrastructure: Existing surface/underground works, permitting in place Robust Base Case Financials: (Gold price (avg) US$2,884/oz, (A$4,3653 /oz)) (Update 7 October 2025) ❖ Free Cash Flow: US$0.9 billion, (A$1.4 billion) ❖ Post-tax NPV10%: (at a 10% discount rate) of US$455 m, (A$689 m) ❖ Revenue: US$2.5 billion, (A$3.8 billion) ❖ Post-tax IRR: 77% ❖ Life of Mine (LOM): 13.1 years ❖ All-in sustaining cost: US$1,181/oz, (A$1,787/oz) ❖ Project payback: 29 months (from start of mining) ❖ Peak funding: US$77 m, (A$116 m) Table 1: Project Economics at Various Gold Prices – Base Case (AUD) Project Economics at AU$ Gold Price Unit Forecast (USD2,884 / oz Avg) USD 2,500/oz USD 3,000/oz USD 3,500/oz USD 4,000/oz USD 4,500/oz* USD 5,000/oz Gold Price AUD / oz4 AUD/oz 4,365 3,784 4,541 5,298 6,055 6,812 7,568 NPV @ 10% (real) Pre-tax AUDm 991 758 1,070 1,382 1,695 2,008 2,321 NPV @ 10% (real) Post-tax AUDm 689 526 742 954 1,166 1,379 1,591 IRR (%) Pre-tax % 84% 69% 86% 102% 117% 131% 146% IRR (%) Post-tax % 77% 63% 78% 92% 105% 118% 130% AISC AUD/oz 1,787 1,750 1,800 1,848 1,896 1,943 1,990 EBITDA annual average AUDm 163 131 175 219 263 307 351 EBIT annual average AUDm 148 116 160 204 248 292 336 Free Cash Flow (Post-tax) AUDm 1,413 1,102 1,525 1,941 2,358 2,775 3,193 Development Capital – Peak Funding AUDm 116 131 116 116 116 116 116 Capital Sustaining AUDm 65 65 65 65 65 65 65 Payback post-tax Months 29 34 30 27 25 24 23 Capital Efficiency (Pre-Tax NPV/Dev Capital % 855% 580% 924% 1,194% 1,463% 1,734% 2,004% Capital Efficiency (Post-Tax NPV/Dev Capital % 595% 403% 641% 824% 1,007% 1,190% 1,374% * Note: at the time of release of this study, Spot Gold Price was trading in excess of US$4,000 / oz. The Base Case Production Target and forecast financial information shown above and disclosed in this study are based on Mineral Resources that include a proportion of Inferred Mineral Resources and the realisation of the full potential of the Base Case as presented cannot be guaranteed. Inferred Mineral Resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be classified as Ore Reserves. There is no certainty that further exploration work or evaluation studies will result in the conversion of Inferred Mineral Resources to Indicated or Measured Mineral Resources or Ore Reserves. Key FS Economic Results Under average gold prices of US$2,884 / oz (A$4,3655 / oz), the Base Case scenario of FS demonstrates strong financial returns6 (based on LOM plan), including: 3 Exchange rate USD:AUD applied in relation to revised DFS was 0.6606. 4 Exchange rate USD:AUD applied throughout this document relating to the revised feasibility study is 0.6606. 5 Exchange rate USD:AUD applied throughout this document in relation to the revised DFS is 0.6606. 6 Financial returns applying the ‘Base Case’ scenario statistics. 13 o Undiscounted free cash flows of US$0.9 billion (A$1.4 billion), pre-tax US$1.3 billion (A$2.0 billion); o NPV (at a 10% discount rate) of US$455 million (A$689 million), pre-tax US$654 million (A$991 million); o Capital payback period of 29 months; o Post-tax IRR of 77%; pre-tax IRR of 84% o Combined Underground Projects have an AISC of US$1,181/oz (A$1,787/oz); and o Peak Capital requirement is US$77 million (A$116 million), total initial capital US$102 million (A$154 million)7 . Table 2: Key Project Metrics Description Units Base Case Reserve Plan Project Start Date1 Qtr/Year Q4 2025 Q4 2025 Commercial Production Date Qtr/Year Q1 2027 Q1 2027 Life of mine years 13.1 8.8 Underground ore mined (LOM) Mt 4.69 2.71 Surface ore remined (LoM) Mt 1.65 1.19 Mined Grade g/t 4.96 4.82 Gold Mined (LOM) Moz 1.01 0.60 Production Rate Kt/a 540 540 Production Rate Kt/m 45 45 Gold recovered (average LOM) % 86.2 85.2 Gold recovered (LOM) Moz 0.87 0.51 Table 3: Comparison of Base Case Financial Metrics – Feasibility Studies 2022 vs 2026 Project Economics at Gold Price US$ (Base Case) Unit FS - Jul’ 228 FS - *Feb’ 26 % or Absolute Life of Mine years 12.9 13.1 flat Revenue USDbn 1.75 2.49 42% Gold Price USD/oz 1,642 2,884 +1,242/oz NPV @ 10% (real) Pre-tax USDm 324 654 102% NPV @ 10% (real) Post-tax USDm 219 455 108% IRR (%) Pre-tax % 65% 84% 29% IRR (%) Post-tax % 57% 77% 35% All In Sustaining Cost (AISC) USD/oz 834 1,181 42% EBITDA (LoM) USDm 891 1,508 69% EBITDA annual average USDm 69 115 67% Free Cash Flow (Post-tax) USDm 508 933 84% Development Capital – Peak Funding USDm 77 77 flat Capital Sustaining USDm 37 44 7 Payback Post-tax Months 31 28 flat 7 The FS demonstrates that post to Peak Funding, the balance of Total Capital requirement will be self-funded from project cashflow. The board may however, consider external funding solutions such as via equity, debt, gold pre-sales, gold-streaming or a mixture of these methods. 8 Ref to ASX Release dated 27 July 2022 titled, “Theta Gold’s TGME Project DFS confirms NPV of AUD432 Million”. 14 Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. * - Mine Plan revised Cost Control/Value Focus: TGM continues to advance the TGME Project with a strong focus on execution and capital discipline. The updated FS delivers a post-tax NPV10 of US$455 million, an increase of US$236 million over the 2022 FS. Higher gold-price assumptions are a key driver of this increased value, while also expanding the economic potential of the resource by enabling lower-grade material to be incorporated into the mine plan. Project Summary: The TGME Gold project, located in the Mpumalanga province of South Africa, is shown below. Figure 19: TGME Gold Project Location Map Key Assumptions: Long term average spot gold price of US$2,884 applied in Base Case scenario over LOM / AISC estimation of US$1,181/oz at +/- 15% level of accuracy. 15 Two mine scheduling strategies have been investigated, namely: • Base Case: LOM Plan includes a Production Target of 1.01 Moz targeting Measured, Indicated and Inferred Mineral Resources; and • Ore Reserve Plan: LOM Plan includes a Production Target of 604 koz targeting Measured and Indicated Mineral Resources only. Strong Upside options: • Phase 2 unlocks scale: 7 mines, 90 ktpm processing, and up to 160 koz/year gold output within five years. • Growth runway secured: 40 nearby historical mines and defined exploration targets offer substantial resource upside. • Low-cost mining advantage: All current reserves and LOM material hosted in shallow orebodies (<400m). • Cost discipline embedded: Competitive pricing achieved through active tendering of mine services across South Africa. • Built for sustainability: ESG-focused design reduces energy use, broadens workforce diversity, and attracts green-aligned suppliers. Project Execution Strategy and Plan: The project will ramp up in phases, targeting an initial Phase 1 Run-Of-Mine (RoM) output of 45 ktpm from multiple underground mines. This staged approach is underpinned by the FS Base Case, leveraging Measured, Indicated, and Inferred Resources to maximise early production and flexibility. In order to achieve this, mining operations are planned to commence as follows: • Beta Mine - Beta Mine will kick off with 18 months of pre-development, followed by stoping from month 19. In the Base Case, the mine is expected to deliver around 30 ktpm of stoping ore for 8.5 years, within a total Life of Mine of 10.1 years. • Rietfontein Mine - Rietfontein Mine will start mining in 18 months after Beta, stoping after eight months of pre-development. Stoping begins in month 27, with plans to produce 15 ktpm of ore. • Frankfort and CDM Mines - Frankfort and CDM Mines will begin mining in months 104 and 90, with 16 and 19 months of pre-development planned, respectively. Frankfort is set to produce 15 ktpm, feeding a DMS plant that delivers 9.5 ktpm. CDM will also produce 15 ktpm at steady state. Mining of the historic rock dumps and TGM Plant TSF will begin in months 7 and 16, respectively, following the start of operations. The Waste Rock Dump will be mined over 10 months at 45 ktpm, enabling a smooth ramp-up of Beta’s operations. TSF material will feed the plant for 4 months during ramp-up and continue as needed, with a total retreatment life of 79 months. 16 Figure 20: Annual and Cumulative Cash Flow (Post-Tax) – Base Case (AUD) NOTES: 1. Forecast Prices averaging US$2,884/oz over LOM. 2. Converted to AUD from USD at exchange rate of 1.514 AUD:USD. Figure 21: Gold Production profile [ENDS] 17 This announcement was approved for release by Theta Gold Mines Limited’s Board. For more information, please visit www.thetagoldmines.com or contact: Bill Guy, Chairman Theta Gold Mines Limited T: +61 2 8046 7584 E: billg@thetagoldmines.com Investor Relations and Media Communications We’re committed to keeping you informed and involved. Sign up for the Engage IR App and Investor Hub today and join the conversation. Webpage: www.thetagoldmines.com https://twitter.com/ThetaGoldMines https://www.linkedin.com/company/thetagoldmines/ 18 Figure 22: TGME Plant construction progress including on-site batch plant 19 Competent Persons Statement MINERAL RESOURCES Mr. Uwe Engelmann confirms that he is the Competent Person for the TGM Mineral Resources as reported on TGM’s Mineral Resources which is extracted from TGM’s ASX announcement dated 8 April 2021 (Initial Maiden Underground Mining Reserve) available to view at www.asx.com.au and was prepared in accordance with the guidelines of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012). Mr. Engelmann has read and understood the requirements of the JORC Code (2012). Mr. Engelmann is a Competent Person as defined by the JORC Code, 2012, having more than five years’ experience that is relevant to the style of mineralisation and type of deposit described in this report and to the activity for which he is accepting responsibility. Mr. Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, FGSSA), is a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions. Mr. Engelmann is a full-time employee of Minxcon (Pty) Ltd and has reviewed this report and consents to the inclusion of the matters based on his supporting information in the form and context in which it appears. METALLURGICAL RESULTS Mr. Rogan Roulstone confirms that he is the Competent Person in terms of Mineral Resources and Ore Reserves (JORC Code, 2012). Mr. Roulstone has read and understood the requirements of the JORC Code (2012). Mr. Roulstone is a Competent Person as defined by the JORC Code, 2012, having more than five years’ experience that is relevant to gold extraction and in particular gold extraction from a refractory ore body. Mr Roulstone holds a National Higher Diploma in Chemical Engineering and graduated in 1993 and is member of the SAIMM (705817). Mr Roulstone is the managing director of RM Process and has over nine years’ experience on the TGME process plant design. The information in this announcement that relates to TGM’s Mineral Resources is extracted from TGM’s ASX announcement dated 8 April 2021 (Initial Maiden Underground Mining Reserve) available to view at www.asx.com.au and was prepared in accordance with the guidelines of the JORC Code (2012). TGM confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resources estimates in the relevant market announcement continue to apply and have not materially changed other than as disclosed in TGM’s ASX announcement dated 25 October 2021 regarding the TGME Project Permitting Update. TGM confirms that the form and content in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. ORE RESERVES The information in this report relating to Ore Reserves is based on, and fairly reflects, the information and supporting documentation compiled by Mr. Daniel van Heerden (B.Eng (Mining), M.Com (Business Management), member of Engineering Council of South Africa (Pr.Eng. Reg. No. 20050318)), a director of Minxcon (Pty) Ltd and a fellow of the South African Institute of Mining and Metallurgy (FSAIMM Reg. No. 37309). Mr Van Heerden has sufficient experience that is relevant to the style of mineralisation under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code (2012). Mr van Heerden consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this announcement that relates to TGM’s Ore Reserves is extracted from TGM’s ASX announcement dated 8 April 2021 (Initial Maiden Underground Mining Reserve) available to view at www.asx.com.au and was prepared in accordance with the guidelines of the JORC Code (2012). TGM confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical 20 parameters underpinning the Ore Reserve estimates in the relevant market announcement continue to apply and have not materially changed other than as disclosed in TGM’s ASX announcement dated 25 October 2021 regarding the TGME Project Permitting Update. TGM confirms that the form and content in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. About Theta Gold Mines Limited Theta Gold Mines Limited (ASX: TGM) is an advanced gold development company focused on unlocking value from its extensive suite of projects in South Africa’s renowned Eastern Transvaal goldfields. The Company’s flagship TGME Gold Project offers near-surface and shallow underground orebodies with compelling cost advantages, with 6.1 Moz of gold resources. TGM’s core project is located next to the historical gold mining town of Pilgrim’s Rest, in Mpumalanga Province, some 370 km northeast of Johannesburg by road or 95 km north of Nelspruit (Capital City of Mpumalanga Province). Following small-scale production from 2011 – 2015, the Company is currently focusing on the construction and financing of a new gold processing plant. TGM holds 100% of Theta Gold SA (Pty) Ltd, which in turn owns 74% of TGME and Sabie Mines, meeting Black Economic Empowerment (BEE) ownership standards as per South African Mining Charter requirements. Disclaimers This announcement has been prepared by and issued by Theta Gold Mines Limited to assist in informing interested parties about the Company and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this announcement. This announcement may contain forward-looking statements. Whilst Theta Gold has no reason to believe that any such statements and projections are either false, misleading or incorrect, it does not warrant or guarantee such statements. Nothing contained in this announcement constitutes investment, legal, tax or other advice. This overview of Theta Gold does not purport to be all-inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. Before making an investment decision, you should consult your professional adviser, and perform your own analysis prior to making any investment decision. To the maximum extent permitted by law, the Company makes no representation and gives no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the au