TRX Gold sees FY25 gold production higher than FY24 levels

F2025 gold production is expected to be higher than F2024 levels, reflecting a full year of operations from the expanded 2,000 tpd processing plant. The Company updated its mine sequence for 2025 to include a waste stripping campaign which is scheduled to take place in H1 2025 in order to access high-grade ore blocks, not previously accessible. These high-grade ore blocks are expected to become accessible in the second half of F2025, benefiting production starting in Q3 and Q4 2025. As a result, gold production is expected to be lower in H1 2025 and higher production is expected in H2 2025. Cash cost per ounce3 is expected to remain in line with F2024 levels. Cash cost per ounce is expected to be slightly higher in H1 2025 and lower in H2 2025, as the mine sequence begins to access higher grade ore blocks in H2 2025. Operating cash flow will be predominantly reinvested in the Company with a focus on value enhancing activities, including: increased exploration and drilling with a focus on potential Mineral Resource expansion at Stamford Bridge, Buckreef Main, Buckreef West, Anfield, Eastern Porphyry extension; additional capital programs focused on plant optimizations, recovery improvements and production growth; and enhanced CSR/ESG programs.