Polaris Appointed to Deliver Lake Johnston CIL Plant

Forrestania Resources has signed a Head of Agreement with Polaris Engineering Services for the construction of a new CIL circuit at Lake Johnston, marking a major step towards production readiness and long-term gold processing capability.

<ul><li>Entered into a Head of Agreement with Polaris Engineering Services, involving lead design partner Mincore, to expand refurbishment and construct a new CIL processing circuit at Lake Johnston.</li><li>Total potential contract value of up to A$58.5 million, with flexible payment structure using FRS shares at a 12% premium to VWAP and optional cash substitution.</li><li>CIL commissioning targeted to commence in November 2026, supporting Forrestania’s transition to gold production.</li><li>Refurbished facility expected to deliver approximately 3.2Mtpa throughput, establishing Forrestania as a future gold processing hub.</li><li>Agreement builds on existing crushing circuit works and aligns with the company’s strategy of phased, capital-efficient project development.</li></ul>

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Polaris Appointed to Deliver Lake Johnston CIL Plant