Savannah Goldfields Targets 13 July Agate Creek Environmental Approval

Savannah Goldfields Moves Closer to Agate Creek Restart with Environmental Approval Decision Expected by 13 July

Savannah Goldfields Limited (ASX: SVG) has provided investors with a significant operational update, confirming that a decision on the Environmental Authority required to resume mining at its Agate Creek Gold Project is now expected by 13 July 2026. The Savannah Goldfields Agate Creek environmental approval decision date represents the primary near-term catalyst for the company, with early site works already underway and gold production continuing at its Georgetown Gold Processing Plant (GGPP).

What's Happening and Why It Matters

The core of this update centres on Savannah's progress toward unlocking 36,800 ounces of gold within its 100% owned Agate Creek Gold Project in Far North Queensland. The project sits approximately 100 km south of the Georgetown Gold Processing Plant.

Key highlights from the announcement include:

• A change application to the Environmental Authority was submitted in November 2025, following a six-month preparation process, to cover updated pit designs and waste rock management schedules
• The Company received a preliminary draft Environmental Authority from DETSI (Department of Environment, Tourism, Science and Innovation) on 29 May 2026, including draft conditions
• A 30 business day extension to the decision period was advised on 1 June 2026, pushing the expected decision date to 13 July 2026
• Early site works have commenced under existing authorisations, including haul road stabilisation, erosion and sediment control, water management infrastructure, and camp refurbishment
• The Georgetown Gold Processing Plant continues to operate at approximately 550 tonnes per day, with approximately 70 days of combined feed stocks currently secured or in transit

CEO Brad Sampson commented: "We continue to recognise the constructive manner in which DETSI has engaged with us over the last 9 months and look forward to working with DETSI to finalise the Environmental Authority conditions during the updated decision period. We are pleased to now have clarity on the timing for the decision on the changes to the Agate Creek Environmental Authority."

Understanding Environmental Authorities: A Key Concept for Investors

For investors less familiar with Australian mining regulations, an Environmental Authority (EA) is a government-issued licence outlining the conditions under which a mining company can legally carry out activities that may impact the environment. It covers elements such as pit design, waste rock management, water management, and rehabilitation obligations.

In Queensland, DETSI is the issuing body. A change application to an existing EA is required when planned operations differ materially from those covered by the original authority, such as expanded or redesigned pits.

Why Does This Matter to Investors?

Without an updated EA, mining at Agate Creek legally cannot proceed under the new pit configurations. The EA is therefore the single most critical regulatory milestone standing between Savannah and the commencement of ore production.

The receipt of a preliminary draft EA and a defined decision timeline signals that the process is in its final stages, materially reducing regulatory uncertainty for investors.

Glossary of Key Terms

The Agate Creek Ore Reserves: What's in the Ground?

The Agate Creek Ore Reserves represent a well-defined, JORC-compliant resource base underpinning the Company's near-term production strategy. The total reserve stands at 460,000 tonnes at 2.5 g/t Au, containing 36,800 ounces of gold across multiple pits within the Sherwood deposit area.

The breakdown by pit and confidence category is as follows:

Of particular note is Pit 6, which carries the highest grade at 3.0 g/t Au on a total basis and represents the single largest contributor at 18,000 ounces — nearly half the total reserve.

The Company's initial mining plan targets 375,000 tonnes at 2.65 g/t Au, containing 31,900 ounces of gold, to be mined and trucked to the Georgetown Gold Processing Plant for processing through the remainder of 2026, 2027, and into 2028.

Keeping the Plant Fed: Georgetown Gold Processing Plant Update

A critical strength of Savannah's operational setup is that the Georgetown Gold Processing Plant is already running and generating gold production. Furthermore, the Company has secured feed from multiple sources to maintain continuous operations through the near-term gap.

Current GGPP Feed Position

The plant is operating at approximately 550 tonnes per day. In addition, the Company is actively investigating additional feed opportunities from Big Reef's open pit and the Big Ben rock piles, as well as other external sources, to bridge the period ahead of first Agate Creek ore deliveries.

Timeline to Production: What Comes Next?

The pathway from here to Agate Creek ore flowing through the Georgetown plant is well-defined. Investors can track progress against the following schedule:

In the interim, early site works are actively progressing under existing authorisations, including:

1. Haul road stabilisation
2. Erosion and sediment control infrastructure
3. Water management feature installation
4. Refurbishment of camp and site facilities

This preparatory activity means that once the EA is issued, Savannah can move directly to mining without delay — a deliberate operational strategy to minimise time between approval and first ore delivery.

The Investment Case: Why This Update Moves the Needle

Savannah Goldfields presents a straightforward operational investment proposition built around several compounding strengths.

Existing Infrastructure Removes a Major Capital Hurdle

The Georgetown Gold Processing Plant is already operational. Agate Creek ore simply needs to be mined and trucked — there is no requirement to build or commission new processing facilities to convert the reserve into gold production.

Regulatory Risk Is Materially Reduced

The receipt of a preliminary draft Environmental Authority, including draft conditions, signals that the substantive regulatory review is substantially complete. The Savannah Goldfields Agate Creek environmental approval decision date of 13 July 2026 provides investors with a defined and near-term catalyst.

Production Continuity Is Being Actively Managed

Rather than idling the plant during the approval period, management is securing alternative feed sources to maintain gold output. This demonstrates operational discipline and protects near-term cash generation.

A Defined, JORC-Compliant Reserve Underpins the Plan

The 36,800 oz total reserve — with an initial 31,900 oz scheduled for processing through to 2028 — provides a clear, independently verified production base. Pit 6 alone contributes 18,000 oz at 3.0 g/t Au, representing a high-grade anchor to the schedule.

Furthermore, 100% ownership means all production economics accrue entirely to the Company and its shareholders, providing full exposure to the upside.

Key Industry Context: Gold Processing in Regional Queensland

Queensland's mining regulatory framework operates under a well-established process where Environmental Authorities must be secured before mining operations can legally commence. DETSI oversees this process, ensuring mining activities meet environmental protection standards whilst facilitating resource development.

For gold projects like Agate Creek, the ability to truck ore to an existing processing facility represents a significant operational and capital advantage. Most exploration companies must invest tens of millions of dollars in processing infrastructure before generating revenue — Savannah's Georgetown facility eliminates this hurdle entirely.

The toll treating model — where ore is processed at an existing facility — has become increasingly common across Australia's gold sector. This approach reduces capital intensity, accelerates time to production, and allows companies to focus resources on mining operations rather than plant construction.

Why Investors Should Keep a Close Eye on Savannah Goldfields

Savannah Goldfields sits at an inflection point. The Georgetown Gold Processing Plant is producing, early site works at Agate Creek are underway, and the single remaining gating item — the Environmental Authority — has a confirmed decision timeline in the Savannah Goldfields Agate Creek environmental approval decision date of 13 July 2026.

With feed stocks secured to maintain plant operations into mid-August, the Company has effectively removed near-term production risk whilst awaiting the regulatory green light. A favourable outcome would trigger an immediate transition to active mining and set the Company on a defined production trajectory through 2028.

Savannah Goldfields has positioned itself to move swiftly toward resuming mining at Agate Creek, with a JORC-compliant reserve of 36,800 oz Au, early site works already underway, and a regulatory decision expected by 13 July 2026. With the Georgetown Gold Processing Plant actively operating and feed stocks secured into mid-August, the Company is executing a disciplined bridging strategy whilst the final approval milestone approaches. Investors watching for a near-term production catalyst have a clear date to track.

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