Central Iron Ore Limited - Project Update

Central Iron Ore Limited issued a comprehensive operational and regulatory update regarding its South Darlot Gold Project, with a specific focus on the British King and Endeavour areas. The company completed the British King Mineral Resource Re-estimate and finished the Preliminary Geotechnical Assessment. Additionally, the Endeavour Resource Estimate has been reviewed and is currently being utilized for re-optimization studies, which are scheduled to commence shortly.

On the regulatory front, a new Operating Licence (L8891/2015/2) was issued on July 3, 2026. Furthermore, the "negotiation in good faith period" for the Mining Lease M37/30 renewal began on July 1, 2026. Environmental and closure planning is also advancing, with follow-up studies for fauna, flora, surface water, and groundwater currently underway. A draft Mining Development and Closure Proposal is being prepared for submission to the Department of Mines, Petroleum and Exploration (DMPE).

The British King Mine Area is 100% owned by Central Iron Ore Limited, while the South Darlot Project, including the Endeavour area, operates as a 70% joint venture with a subsidiary of Vault Minerals. The British King Mine remains in care and maintenance.

Central Iron Ore Limited (CIO) released an update on July 21, 2026, marking incremental progress in its pre-feasibility study and regulatory pathway. The announcement confirms that technical studies, including a Mineral Resource Estimate (MRE) re-estimate and geotechnical assessment, are proceeding as planned. Additionally, regulatory milestones such as the operating license and lease renewal negotiations are advancing according to schedule.

The update does not include unexpected commercial breakthroughs, new financing, or changes to project economics. It serves as a procedural validation of the company's development timeline rather than a catalyst for immediate market movement. While the news slightly reduces regulatory uncertainty, it does not alter the fundamental risk profile or capital requirements associated with the project.

Central Iron Ore Limited (TSX-V: CIO) is a Western Australia-based junior explorer focused on the South Darlot Gold Project. Its flagship asset is the British King Mine, which is currently in care and maintenance. A 2025 NI 43-101 resource estimate for the site identified 311,800 tonnes at 6.20 g/t Au (62,200 oz Au), comprising 227,300t Indicated and 84,500t Inferred. The Endeavour area is held in a 70% joint venture with a subsidiary of Vault Minerals. The company is in the pre-revenue exploration and development stage, focusing on resource definition, geotechnical studies, and regulatory approvals to advance toward a mining proposal.