PRESS RELEASE: The Double Bottom Line

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Great Divide Mining Ltd (ASX:GDM) announced today that it had commenced as operator of the Challenger Gold Mine in Adelong, NSW.

GDM’s CEO, Justin Haines reported that it was able to deliver for shareholders on two fronts: completing a satisfactory due diligence and in parallel using the same time period to complete scheduled maintenance and repairs to plant and equipment, delivering it to operating condition.

“GDM has spent the last 4 months completing due diligence work and finalising definitive agreements, time which has been used to deliver a double bottom line for our shareholders. We didn’t just assess plant and equipment during the due diligence phase, we maintained and restarted it during this same period. As a result, the site is now in a fully maintained and operable state, pending a few modifications to the process flow sheet and some minor additional equipment,” said Haines.

“GDM’s focus is on rapidly moving the Challenger Gold Mine to a cash flow positive production status. Throughout the due diligence process GDM’s onsite team has checked, maintained, repaired and restarted the plant and equipment needed to restart the processing of gold ore,” he went on.

Commenting on several of the findings confirmed by GDM’s due diligence, Haines went on to say, “We know the mine is in the proven Adelong gold field having historically delivered over 800 kOz of Gold, we know ore grades have averaged over 150 g/t, we’ve run and tested the crushing and processing plants, and we can start processing almost immediately with stocks of ore already on surface.”

“GDM has all four legs of the classic ‘stable stool’ commercial analogy, the opportunities to process, continue mining activities, and implement in-fill and nearby exploratory drilling programs,” he said.

“Still … I just can’t wait to see that first gold pour!” he quipped.

Media Contacts:

Name: John KochanskiCompany: Great Divide MiningEmail: [email protected]Phone: 0411831122

Attachments:

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March 18, 2025/by Reland Pigte

About Great Divide Mining

Great Divide Mining (ASX:GDM) Great Divide Mining is a Gold, Antimony and critical metals miner, explorer and developer with five projects across 17 tenements (including two in application). GDM’s focus is on operating producing assets within areas of historical mining and past exploration with nearby infrastructure, thus enabling rapid development. Through a staged exploration and development programme, GDM intends to generate cash flow from its initial projects to support further exploration across its portfolio of highly prospective tenements. Its core values are to responsibly transition exploration projects to positive cash flow in efficient time frames. Adelong Gold Ltd (ASX:ADG) GDM announced on 11 November 2024 that it had signed a binding farm-in agreement with Adelong Gold Ltd (ASX:ADG) and its wholly owned subsidiary Challenger Mines Pty Ltd (CMPL) to recommence the operations of the historic Adelong Gold Mine. GDM has now completed the 90-day Due Diligence on the CMPL assets, acquired a 15% holding in CMPL and is now the operator of CMPL. GDM’s focus is to rapidly transition the Adelong Gold Mine back into production.

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