Northern Zone Clears Path to Final Mining Permit

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that an agreement has been reached for the removal of the remaining objections to the haul road Miscellaneous Licences for the Northern Zone Gold Project (“Northern Zone” or “the Project”), L25/75 and L25/77, so that the licences will now be able to proceed to grant. The Company remains on track to lodge its Mine Development and Closure Proposal (MDCP) for the Project with the Department of Mines, Petroleum and Exploration (DMPE) later this month. Once granted, the licences will provide site access and ore haulage road links to gazetted roads and highways. The Company’s Northern Zone Gold Project is located approximately 25 km east of Kalgoorlie in Western Australia (refer to Figure 1 for location).

Naheed Memon, CEO of Oracle, commented:

“The removal of the Project’s last objections is an extremely important and key outcome, as it creates an ore haulage corridor to main roads that lead to third-party processing facilities in the area. Removal of the final objections to the Project will allow us to submit our MDCP to the Department of Mines, Petroleum and Exploration (“DMPE”) later this month, and we are working very closely with our funding partners MEGA Resources on finalising mine planning and scheduling.”

Significance of L25/75 and L25/77 Moving to Grant

Miscellaneous Licences are the tenure created under the Mining Act 1978 (WA) (the “Act”) to authorise infrastructure that falls outside the boundary of an exploration or mining tenement, including roads, pipelines and other access corridors, and can be granted for terms of up to 21 years[1]. They are the only form of tenure under WA mining legislation that permits the construction and use of a haul road. Mining Lease M25/389 covers the Northern Zone pit itself but does not on its own authorise the movement of ore beyond the lease boundary — L25/75 and L25/77 are the licences that create that legal haulage corridor, connecting Northern Zone to the main road network and, in turn, to third-party processing facilities.

Applications for Miscellaneous Licences are subject to a statutory objection period. Objections are heard by the Warden's Court, constituted under the Act, unless an objection is resolved between the parties. As all objections to L25/75 and L25/77 have been resolved, both applications are clear to proceed to a Warden's recommendation and formal grant, removing what has been the last regulatory impediment to physically hauling ore from Northern Zone and, alongside the MDCP, clearing the path to the start of mining.

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The Company recently submitted its Native Vegetation Clearing Permit (“NVCP”)[2] to the Department of Water and Environmental Regulation (“DWER”). The MDCP - the actual operating approval needed to start mining - is the last permit needed to commence mining operations. The MDCP is still on schedule for submission to WA's DMPE this month, and we continue working closely with Resources WA and our development and funding partners, Mega Resources, on finalising the MDCP.

Northern Zone is a planned open pit project, 80% owned by Riversgold and 20% by Oracle Power Plc, which will be fully funded by Mega Resources[3] under a 50/50 Mining and Co-operation Agreement as announced in September 2025. Riversgold recently secured the all-important Mining Lease (M25/389) over the site in July[4], with the mining lease being granted for a 21-year term to July 2047 and is renewable.

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Oracle Power PLC

Naheed Memon - CEO +44 (0) 203 580 4314

Strand Hanson Limited (Nominated Adviser & Broker)

Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494

St Brides Partners Limited (Financial PR)

Susie Geliher, Isabel de Salis +44 (0) 20 7236 1177

[1] Mining Act 1978 (WA), s 91; Mining Regulations 1981 (WA), reg 42B.

[2] Announcement dated 28 August 2026 - "Key Permit Application Submitted for Kalgoorlie Gold Project"

[3] Announcement dated 30 September 2025 - " Northern Zone Gold Project Co-Operation Agreement"

[4] Announcement dated 2 July 2026 - "Mining Lease Granted - - Northern Zone Gold Project"