JUNO MINERALS in Australia Sells Mount Mason DSO Hematite Project to Gold Valley

Juno Minerals Limited (Juno) has sold its fully permitted Mount Mason DSO hematite project to established regional producer Gold Valley Yilgarn Pty Ltd (GVY) for AUD 6 million in cash plus a 2% FOB royalty. GVY plans to commence production by mid-2026, leveraging its existing supply chain. The transaction provides Juno with immediate cash, future revenue streams, and the ability to focus on developing its flagship asset, the Mount Ida magnetite project. As part of the deal, Juno granted GVY the necessary road access rights and staff village leasehold rights.
Mount Mason DSO is a hematite project located in the Yilgarn region of Western Australia. Resources: Total (Measured + Indicated): 5.9 million mt (Measured + Indicated) with an average grade of 60.1% Fe; Measured resources: 4.8 million mt @ 60.3% Fe; Indicated resources: 1.08 million mt @ 59.4% Fe; Inferred resources: 320,000 mt.

The project has received full development approval.

1. GVY's Development Plan: GVY has informed Juno that it plans to mobilize to the site by mid-2026 to establish DSO mining operations. GVY will leverage its existing supply chain (extending from production at Wiluna) to export ore through the Port of Esperance.

Benefits to Juno:

1. Cash Injection: AUD 6 million in cash (AUD 3 million received, AUD 3 million pending), increasing the company's cash reserves.

2. Ongoing Revenue Stream: The 2% FOB royalty provides a potential long-term revenue source.

3. Strategic Focus: The sale enables Juno to concentrate its efforts and resources on its core strategic asset, the Mount Ida magnetite project.

4. Use of Funds: Juno plans to allocate the proceeds from the sale to:

   • Maintain the Mount Ida magnetite project;

   • Explore new opportunities;

   • General working capital requirements.

5. Asset Realization: The sale of a small project that would have been challenging to develop independently (due to required capital expenditure) to an established producer (GVY) with a low-cost base and existing supply chain allows for near-term development and returns for Juno.

Related Agreements (Concluded Simultaneously with the Sale):

1. Access Deed (Road Access Rights):

   • Juno granted GVY a non-exclusive license to construct and use an approved 27-kilometer haul road on Juno's Mt Ida project tenements (not part of this sale), connecting the Mount Mason mine site to the Menzies North-West Road.

   • Term: 8 years.

   • Purpose: To enable GVY to transport Mount Mason DSO ore by road to Kalgoorlie and then by rail to the Port of Esperance.

2. Staff Village Lease: Juno agreed to lease its Cassini Village to GVY at a nominal monthly rental for GVY's workforce deployment in project development and mining.

Strategic Context - Mount Ida Project: Unaffected: The sale of Mount Mason does not impact the Mount Ida magnetite project. Mount Ida remains Juno's core strategic asset.

Resource Scale: Current resources stand at 1.85 billion tonnes (grading 29.48% Fe), located on granted mining leases, representing the largest magnetite resource in the Yilgarn region.

Location Advantage: Adjacent to the Mt Bevan magnetite project joint venture between Hancock Prospecting and Legacy Iron Ore (currently undergoing a feasibility study), which is a positive signal for magnetite project development in the region.

Announcement Compliance:

1. Resource Reporting: The mineral resource estimation information was prepared and reviewed by "Competent Persons" (Dr Michael Cunningham and Mr Rodney Brown, SRK Consulting) in compliance with the JORC Code. The company confirms that the resource information in the announcement is sourced from its 2021 prospectus and that no new information has caused a material change.

2. Forward-Looking Statements: The announcement contains forward-looking statements regarding project development plans, among others, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on these statements.

3. Approval for Release: This announcement has been approved for release by the Juno board of directors.

Magnetite Advantages:

1. Higher concentrate grades and more stable product specifications and quality.
2. Enables the production of higher-quality steel, making it the preferred raw material for smelters.
3. Aligns with the "green steel" theme.

Announcement Compliance:

1. Resource Reporting: The mineral resource estimation information was prepared and reviewed by "Competent Persons" (Dr Michael Cunningham and Mr Rodney Brown, SRK Consulting) in compliance with the JORC Code. The company confirms that the resource information in the announcement is sourced from its 2021 prospectus and that no new information has caused a material change.

2. Forward-Looking Statements: The announcement contains forward-looking statements regarding project development plans, among others, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on these statements.

3. Approval for Release: This announcement has been approved for release by the Juno board of directors.