LAKEWOOD MILL

The Lakewood Gold Mill was acquired in by Karora in July 2022. The mill, located just outside Kalgoorlie, Western Australia and ~60 kilometres from the Beta Hunt Mine, has a processing capacity 1.0 Mtpa. Prior the acquisition of Lakewood, Karora processed two toll milling campaigns of Beta Hunt material achieving 94% gold recovery. The addition of the Lakewood mill increases Karora’s nominal processing capacity to approximately 2.6 Mtpa (1.6 Mtpa at Higginsville and 1.0 Mtpa at Lakewood) and significantly de-risks the growth plan to increase gold production to between 170,000 and 195,000 ounces by 2024.