Coolabah Metals

Rasp Ag-Pb-Zn Mine Agreement: Acquisition of the Rasp Mine in Broken Hill, NSW from CBH Resources Limited (wholly owned subsidiary of Toho Zinc Ltd)
Pinnacles Ag-Pb-Zn JV Agreement: Option over a 70% profit sharing interest in the development and operation of the Pinnacles Mine, located 15km from the Rasp Mine

Rasp MRE: 10.1Mt at 9.4% ZnEq (5.7% Zn, 3.2% Pb and 49g/t Ag)
Pinnacles MRE: 6.0Mt at 10.9% ZnEq (4.7% Zn, 3.3% Pb, 133g/t Ag & 0.5g/t Au) - Inc. Perseverance Deposit: 3.5Mt at 12.3% ZnEq (4.5% Zn, 4.1% Pb, 166g/t Ag & 0.5g/t Au)
Pinnacles Exploration Target : 6.0 - 15.0Mt at 2.0 - 4.0% Zn, 3.0 - 6.0% Pb & 40 - 125g/t Ag

Strategy to consolidate operational Rasp infrastructure with Pinnacles mineral resource base
Rasp Mine net cashflow from current operations 1H CY2024 A$8.3 million
Rasp current throughput ~ 400,000tpa, with plant design capacity 750,000tpa
Rasp has been a consistent producer of low impurity zinc and lead-silver concentrates since 2012, with established concentrate logistics supply chain to domestic and international smelters
Concentrate Offtakes: BHM has secured new offtake agreements for zinc inc. US$5.3 million (~A$8.0 million) financing (committed) & lead inc. US$10 million (~A$15 million) financing (conditional)

New Team: Coolabah Board & management changes, adding significant operational and commercial experience in base metals operations, inc: Patrick Walta (proposed Executive Chairman), Mark Hine (proposed NED), Brent Walsh (proposed NED), Steve Woodham (current Chair transitioning to NED)
Strong Cash Position: Coolabah to hold cash and committed undrawn financing estimated between A$16.5 million to A$17.5 million (excludes ~A$15 million in conditional lead offtake financing)
Environmental Bonding: Coolabah to also hold A$16.9 million in restricted cash via fully cash backed environmental bonds in place for Rasp
Proposed Coolabah name change to ‘Broken Hill Mines Limited’ & ASX Chapters 1 & 2 re-compliance

Coolabah to Acquire the Rasp Ag-Pb-Zn Mine & 70% JV Interest in the Pinnacles Ag-Pb-Zn Mine