Geotechnical Drilling Starts at Central Gawler Mill

Rhea-AI Summary

Barton Gold Holdings (OTCQB:BGDFF) has started geotechnical drilling to support a Definitive Feasibility Study for Stage 1 at the Challenger Gold Project.

The program comprises 5 sonic holes for TSF1 materials, 24 CPTu holes, and 3 push tube density holes, and is expected to take three weeks. Results will inform dry recovery of TSF1 tailings, detailed mine design, mining schedule and mining cost estimates for the Stage 1 DFS.

Following a $15m placement led by Franklin Templeton, the company reports approximately $20m cash on hand and says credit financing discussions are underway.

Positive

• Geotechnical program: 5 sonic, 24 CPTu, 3 push tube holes
• Program timeline: expected to take three weeks
• Stage 1 DFS underway to inform TSF1 mine design and costs
• $15m placement led by Franklin Templeton
• Approximately $20m cash on hand

Negative

• None.

Results to inform detailed TSF1 mine design, schedule and costs

ADELAIDE, AU / ACCESS Newswire / October 22, 2025 / Barton Gold Holdings Limited (ASX:BGD)(OTCQB:BGDFF)(FRA:BGD3) (Barton or the Company) is pleased to confirm that geotechnical drilling has started in support of a recently launched Definitive Feasibility Study for 'Stage 1' production (Stage 1 DFS) at the Company's South Australian Challenger Gold Project (Challenger).¹

The planned program includes 5 sonic drilling holes to recover TSF1 materials for laboratory testing, 24 holes for Cone Penetration Testing (CPTu) and further laboratory testing, and 3 holes for push tube density testing.

The program is expected to take three weeks to complete, with the results to inform the dry recovery of TSF1 tailings materials, detailed mine design, a mining schedule and estimate of mining costs for the Stage 1 DFS.

Figure 1 - Cross section showing higher-grade peripheral TSF1 materials & 0.7g/t Au grade shell¹

Commenting on the start of geotechnical drilling, Barton Managing Director Alexander Scanlon said:

"With the Stage 1 DFS now underway, we are excited to kick off the first of several production-related work programs that will inform key elements of mine design, scheduling, equipment selection and operating costs for tailings recovery.

"Following a $15m placement led by Franklin Templeton, Barton is well funded to advance the restart of operations at its Central Gawler Mill, with approximately $20m cash in the bank and credit financing discussions underway.

"We are now on the road to production, leveraging our fully permitted Central Gawler Mill to operations and growth. This is an invaluable stepping stone for our vision to become South Australia's largest independent gold producer."

Authorised by the Managing Director of Barton Gold Holdings Limited.

For further information, please contact:

Alexander Scanlon Managing Director a.scanlon@bartongold.com.au +61 425 226 649

Jade Cook Company Secretary cosec@bartongold.com.au +61 8 9322 1587

About Barton Gold
Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000ozpa with 2.2Moz Au & 3.1Moz Ag JORC Mineral Resources (79.9Mt @ 0.87g/t Au), brownfield mines, and 100% ownership of the region's only gold mill in the renowned Gawler Craton of South Australia.^*

Challenger Gold Project 313koz Au + fully permitted Central Gawler Mill (CGM) Tarcoola Gold Project 20koz Au in fully permitted open pit mine near CGM Tolmer discovery grades up to 84g/t Au & 17,600g/t Ag Tunkillia Gold Project 1.6Moz Au & 3.1Moz Ag JORC Mineral Resources Competitive 120kozpa gold & 250kozpa silver project Wudinna Gold Project 279koz Au project located southeast of Tunkillia Significant optionality, adjacent to main highway

Competent Persons Statement & Previously Reported Information

The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG) or a Recognised Professional Organisation (RPO). Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to quality as a Competent Person as defined in the JORC Code 2012 (JORC).

Activity	Competent Person	Membership	Status
Tarcoola Mineral Resource (Stockpiles)	Dr Andrew Fowler (Consultant)	AusIMM	Member
Tarcoola Mineral Resource (Perseverance Mine)	Mr Ian Taylor (Consultant)	AusIMM	Fellow
Tarcoola Exploration Results (until 15 Nov 2021)	Mr Colin Skidmore (Consultant)	AIG	Member
Tarcoola Exploration Results (after 15 Nov 2021)	Mr Marc Twining (Employee)	AusIMM	Member
Tunkillia Exploration Results (until 15 Nov 2021)	Mr Colin Skidmore (Consultant)	AIG	Member
Tunkillia Exploration Results (after 15 Nov 2021)	Mr Marc Twining (Employee)	AusIMM	Member
Tunkillia Mineral Resource	Mr Ian Taylor (Consultant)	AusIMM	Fellow
Challenger Mineral Resource (above 215mRL)	Mr Ian Taylor (Consultant)	AusIMM	Fellow
Challenger Mineral Resource (below 90mRL)	Mr Dale Sims	AusIMM / AIG	Fellow / Member
Wudinna Mineral Resource (Clarke Deposit)	Ms Justine Tracey	AusIMM	Member
Wudinna Mineral Resource (all other Deposits)	Mrs Christine Standing	AusIMM / AIG	Member / Member

The information relating to historic Exploration Results and Mineral Resources in this announcement is extracted from the Company's Prospectus dated 14 May 2021 or as otherwise noted in this announcement, available from the Company's website at www.bartongold.com.au or on the ASX website www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results and Mineral Resource information included in previous announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates, and any production targets and forecast financial information derived from the production targets, continue to apply and have not materially changed. The Company confirms that the form and context in which the applicable Competent Persons' findings are presented have not been materially modified from the previous announcements.

Cautionary Statement Regarding Forward-Looking Information

This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "expect", "target" and "intend" and statements than an event or result "may", "will", "should", "would", "could", or "might" occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Barton undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Barton from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.

¹Refer to ASX announcement dated 29 September 2025

^* Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 8 September 2025. Total Barton JORC (2012) Mineral Resources include 1,049koz Au (39.7Mt @ 0.82 g/t Au) in Indicated category and 1,186koz Au (40.2Mt @ 0.92 g/t Au) in Inferred category, and 3,070koz Ag (34.5Mt @ 2.80 g/t Ag) in Inferred category as a subset of Tunkillia gold JORC (2012) Mineral Resources.

SOURCE: Barton Gold Holdings Limited

View the original press release on ACCESS Newswire

FAQ

What geotechnical drilling did Barton Gold (BGDFF) start on October 22, 2025?

A program of 5 sonic holes, 24 CPTu holes and 3 push tube density holes targeting TSF1 materials.

How long will Barton Gold's geotechnical program for TSF1 take?

The company expects the program to take three weeks to complete.

What will Barton Gold use the geotechnical results for in the Stage 1 DFS?

To inform dry tailings recovery, detailed mine design, the mining schedule and estimate of mining costs.

How is Barton Gold funded to advance the Central Gawler Mill restart (BGDFF)?

After a $15m placement led by Franklin Templeton, Barton reports approximately $20m cash and credit financing talks underway.

Will the geotechnical drilling affect the Stage 1 DFS timeline for BGDFF?

The drilling is part of the Stage 1 DFS workstreams and its three-week program is intended to provide inputs for DFS design and cost estimates.

What specific TSF1 data is Barton collecting with the drilling program?

Sonic samples for laboratory testing, CPTu data for ground properties, and push tube density tests for tailings density.