Horizon Minerals Limited (HRZ.AX) Paddington Ore Sale Extension to Satisfy CP's

Horizon Minerals Limited (ASX:HRZ) wishes to update the market on progress for the achievement of Conditions Precedent (CP's) pursuant to the Binding Term Sheet - Ore Sale Agreement (Term Sheet) between Paddington Gold Pty Ltd (PGPL) and Horizon Minerals Limited (Horizon) dated 3 May 2024 to treat 1.4Mt of Horizon ore from the Boorara Gold Project.

The Company and AMC Consultants have been working hard to complete the CP's pursuant to the Term Sheet during the past 45 business days, as there has been numerous iterations of mine plan optimisations, mine designs, and schedules leading to the final Ore Reserve Statement.

Discussions with Paddington representatives continue to be open and conducive to the completion of CP's and a long term relationship. As a result, Paddington Gold Pty Ltd (a wholly owned subsidiary of Norton Gold Fields Ltd) have provided an extension to the initial 45 business days, for a further 15 business days.

A second round of mining and haulage tenders based on a revised mine schedule went out last week, with submissions due on Friday 5 July 2024, most of the tender submissions have been received.

Grant Haywood
Chief Executive Officer
T: +61 8 9386 9534
E: grant.haywood@horizonminerals.com.au

Michael Vaughan 
Media Relations - Fivemark Partners 
T: +61 422 602 720 
E: michael.vaughan@fivemark.com.au

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