September 2025 Quarterly Activities Report

QUEBEC CITY, Oct. 31, 2025 (GLOBE NEWSWIRE) -- West African gold producer and developer Robex Resources Inc. (“Robex” or the “Company”) (TSX-V: RBX | ASX: RXR | OTC: RSRBF | Börse Frankfurt: RB4) is pleased to report on its activities for the September 2025 Quarter. Robex owns the Nampala Gold Mine in Mali and continues to make strong progress on the construction of the Kiniero Gold Project in Guinea, which remains on schedule for first gold pour in Q4 CY25.

Highlights:

• Robex and Predictive Discovery (ASX: PDI) announced a merger of equals, aiming to create a strengthened mid-tier West African gold producer. The merger, announced on 6 October 2025, is expected to close by early 2026, subject to satisfaction of closing conditions and shareholder approval.
• Robex accelerated the expiry of its 2024 warrants from 27 June 2026 to 18 October 2025 after the share price exceeded C$3.50 for 10 consecutive trading days. The Company raised C$148.2M, strengthening its balance sheet and highlighting strong investor confidence.
• Robex amended its US$130 million senior facility with Sprott, unlocking up to US$90 million to support Kiniero Gold Project development.
• Mining commenced on day and night shift at Kiniero, with delivery of ore to the run-of-mine (ROM) pad.
• Kiniero construction remains on schedule and on budget for first gold pour in Q4 2025. Mining is underway and more than 4.8 million LTI-free hours have been recorded. Major milestones have been achieved including near-complete mills, 45% electrical progress at the power station, 76% completion of the TSF, and full delivery of structural and electrical materials.
• Initiated 20,000m RC drilling at Sabali South (Kiniero) to expand resources, with diamond drilling planned at SGA and NEGD, while near-mine exploration continued at Nampala to extend mine life.
• Strategic planning advanced 2026 exploration programs, budgeting and target generation across Guinea and Mali.
• Nampala operation remains Lost Time Injury (LTI) free, with more than 2.04 million hours worked. Kiniéro project has recorded 4.86 million LTI-free hours.
• Nampala produced 9,774 ounces and sold 9,529 ounces of gold during the September 2025 quarter.
• Year-to-date gold production from Nampala totalled 34,401oz at an All-in Sustaining (AISC) of C$2,555/oz.
  
   

Robex’s Managing Director and CEO Matt Wilcox commented:

“We advanced the Kiniero Gold Project strongly throughout the September quarter, with mining now underway and delivery of ore to the ROM pad, with drilling and blasting to commence shortly. Construction is progressing across all major areas, with no lost-time injuries reported during the quarter.

“Key milestones included major progress on the process plant, completion of critical concrete works, advancement of CIL tank installation, and continued work on the SAG mill and tailings storage facility. Site infrastructure, including power generation and fuel facilities, also progressed in line with schedule.

We remain committed to delivering Kiniero safely, efficiently, and responsibly, while maintaining strong engagement with host communities and stakeholders. Meanwhile, operations at the Nampala Gold Mine in Mali continued to perform despite challenging operating conditions.”

Kiniéro Gold Project, Guinea

Construction Overview

The Kiniero Project remains on track for first gold pour in Q4 2025, with construction and mine development advancing in line with schedule milestones.

Mining

• Mining operations commenced during the quarter on both day and night shifts, with 82,590 tonnes of material mined, including 20,625 tonnes of ore and 10,000 tonnes of ore rehandled from historical stockpile to the main ROM pad.
• Initial mining activities have commenced with free-digging operations, and the first production blast being completed mid-October.
• Mining & ROM Pad management contracts services, Grade control contract services, Drill & Blast contract services and secondary haulage contract services all executed, and contractors have mobilised to site.
  
   

Figure 1: Aerial view of the Kiniéro site showing construction progress and ore stockpile on the ROM Pad

Process Plant and Infrastructure

• Concrete work for the process plant and power station completed during the quarter, marking a major construction milestone.
• All platework, structural steel, piping, and electrical materials delivered to site.
• Structural, Mechanical & Piping (SMP) works are advancing, with structural steel erected or preassembled.
• SAG mill assembly is complete, with the mill floating on its bearing and the right gear installed; alignment and drivetrain installation are scheduled for early Q4 2025.
• Ball mill assembly is nearing completion, with ring gear installation to follow.
• Primary crushing and reclaim areas are well advanced, with steelwork and platework installation currently underway.
• Leaching circuit construction is ahead of schedule, with all intertank screens and agitators near complete on train A.
• Steelwork for the elution, gold room and reagent areas is progressing strongly.
• The onsite pipe fabrication workshop is fully operational, supporting accelerated progress in piping installation.
  
   

Power Generation and Electrical Works

• The power station construction remains on schedule, with low voltage motor control centres (MCCs) delivered and installed.
• Four engines (4MW) delivered to site, with based frame preparation underway and installation expected in October.
• Electrical work is advancing, with nearly 30,000m of cabling installed and the power station 45% electrically complete.
• Engine haul building structural steel completed, with cladding and ancillary works progressing.
• Fuel storage facility tankage erection progressed according to plan during the quarter.
  
   

Tailing Storage Facility (TSF)

• Construction of tailings storage facilities (TSF) is progressing on schedule.
• The eastern embankment is progressing strongly, with +500,000m3 of fill placed.
• Lining crew remobilized during last September, installing 78,650m2 of HDPE Liner.
• Earthworks for the tailing pipeline containment channel and process water pond completed and prepared for lining.
  
   

Other Infrastructure

• Overland HDPE piping, including the tailings and freshwater pipelines, advanced well with over 15km welded by quarter-end.
• Field-erected tankage reached 99% complete, with painting outstanding.
• Concrete contracting works completed, with contractor demobilization commencing in early October.
• ROM Haul roads and site access roads progressed, maintaining efficient material movement to the processing area.
  
   

Construction Next Steps – Q4 2025

In the quarter ahead, Robex expects to:

• Continue with SMP works for the process plant and power station.
• Complete mill installation.
• Continue with electrical and instrumentation installation in a staged approach to allow energization of switch rooms for commissioning in November.
• Complete the installation of four engines and commence commissioning and run on diesel by mid-November.
• Continue with tailings storage facility earthworks and lining.
• Complete mobilisation of operations, operation readiness and commissioning teams. Complete recruitment of operators and commence training programs.
• Continue with mining development works and ramp up mining with more ore delivered to the ROM pad.
• Continue grade control drilling at Sabali pit.
  
   

Community Relations
During the quarter, Robex’s Kiniero project maintained strong engagement with host communities through the delivery of key social and community initiatives under the Company’s Corporate Social Responsibility (CSR) program:

• Construction of four community centres in Ballan, Fara-Ballan, Mansounia, and Kiniero Centre were completed during the September quarter, with work having commenced in prior periods. Upgrades to the Ballan Primary School, including new facilities, were also finalised during the quarter.
• Improved local healthcare services through ambulance repairs at the Kiniero Health centre, donation of anti-venoms and installation of solar-powered equipment for vaccine storage.
• Supported education and community development, including the distribution of school kits to first-year students in nearby villages, and financial assistance for local cultural, religious, and sporting events.
• Maintained regular community engagement, with ongoing consultations held across projected-affected areas.
  
   

Environmental and Safety Performance
At the in-development Kiniéro Project, Robex maintained strong environmental and health & safety practices during the quarter, reinforcing its commitment to responsible mining and early-stage community engagement. This proactive approach included:

• Safety performance remained strong, with no lost time injuries (LTIs) recorded during the quarter.
• A new on-site ambulance was delivered, equipped with upgraded medical and emergency equipment to enhance first-response capability.
• The medical services contractor (AMS) mobilized in mid-September, including an expatriate emergency doctor and establishment of a dedicated emergency room.
• Construction of the new site clinic progressed and is expected to be completed by the end of October.
• The tree nursery program continued during the quarter, with extensive seeding underway to support future site rehabilitation and biodiversity enhancement.
• Contract for septic waste removal was finalised and waste management activities continued with the company’s waste removal contractor.
• Water samples were collected and sent for analysis at Sabali camp treatment plant to ensure continued compliance with environmental and health standards.
  
   

Pre-Production Grade Control Completed at Sabali South

Robex has completed its pre-production grade control drilling campaign at Sabali South, ahead of planned mining activities at the deposit in Q4 2025. This follows the completion of the Mansounia grade control drilling program in Q2. The program comprised 2,843 inclined grade control drill holes, totalling 66,105 metres, aimed at refining subsurface grade definition in preparation for the commencement of mining. Grade control drilling results at Sabali south closely tracked the Mineral Reverse model. Results confirm the robustness of the geological model and support short-term mine planning.

September Quarter Progress at Kiniéro Gold Project, Guinea

Figure 2: Reclaim Chamber

Figure 3: Primary Crusher 

Figure 4: Milling & CIL Tank Train

Figure 5: CIL Tank Train A & B

Figure 6: Areial view of Kiniero site

Figure 7: Power Station

Nampala Gold Operation, Mali

• Material Mined: During the September 2025 quarter, total material mined amounted to 1,941,442 tonnes, comprising 1,587,604 tonnes of waste and 353,818 tonnes of ore. The strip ratio increased to 4.48, a 64.7% rise from 2.72 in the June 2025 quarter. This increase reflects a strategic focus on waste removal to facilitate access to deeper ore zones, which are expected to enhance both grade quality and ore availability in future periods.
   
• Ore Processed: A total of 501,300 tonnes of ore were processed during the quarter, representing an 8.5% decrease from 547,749 tonnes in the June 2025 quarter. The reduced throughput was primarily due to limited ore availability, stemming from chute blockages, ore clogging caused by heavy rainfall, and electrical issues affecting instrumentation. Additional downtime for maintenance and crusher teeth replacement also contributed to the lower processing volumes.
   
• Head Grade: The average head grade for the quarter was 0.69 g/t, down 10.2% (or 0.07 g/t) from 0.76 g/t in the previous quarter. This decline reflects the processing of an average-grade ore blend during the period. Despite the reduction, the grade remains aligned with the mine plan and grade control parameters.
• Recovery rate: Recovery improved to 88.4%, up 1.1% from 87.3% in the June quarter. This improvement was driven by enhanced control of high-grade rejects, which averaged 0.075 g/t compared to 0.092 g/t in the prior quarter. The improvement also reflects a lower proportion of transitional ore processed during the period.
• Gold Production: Gold production for the September 2025 quarter declined by 1,962 ounces to 9,774 ounces compared to the June quarter. The decrease was primarily due to lower mill throughput and a reduction in feed grade, which averaged 0.69 g/t versus 0.76 g/t in the June quarter.
  
   

Environmental and Safety Performance

• Safety performance remained strong, with no lost time injuries (LTIs) recorded during the quarter.
• No reportable environmental incidents or breaches recorded.
• Environmental monitoring programs continue for noise management, water and air quality
  
   

Community and Social Responsibility
Robex continued to support local communities at the Nampala Mine during Q3 2025, reinforcing its commitment to sustainable development and community engagement. This included:

• Contribution of ~C$353k to the local mining development fund.
• Support for education and training, including vocational programs for 32 young Malians and distribution of school supplies to students in nearby villages.
• Local partnerships and employment initiatives, including market garden purchases from women’s associations and engagement of community service providers through GIE Balimaya.
• Infrastructure improvements, including rehabilitation of the 36km N’Tjikouna-Nampala-Finkolo-Tiola road.
• Financial support for cultural, religious, and community events, including festivals and artistic biennials.
• Skills development and hydraulic training for 12 community members, plus provision of pump repair kits to local town halls.
• Extensive local procurement, supporting regional suppliers and strengthening economic opportunities in the Sikasso region.
  
   

Exploration and Development
During the quarter, Robex made significant progress across its West African exploration portfolio, with key developments including:

Appointments

• Exploration Leadership Appointments: A new Chief Exploration Officer, Mr. Justin Rivers commenced during the quarter, bringing extensive leadership and exploration expertise to the executive team. A Chief Exploration Geologist for Kiniero was also appointed, further strengthening in-country technical leadership.
• Structural Geology Specialist Engaged: consultant engaged to undertake comprehensive desktop and field-based structural mapping and interpretation of the Kiniero Gold Project in Guinea. The study aims to improve ore body understanding, specifically the structural controls on gold mineralisation, to guide planned exploration drilling and enhance deposit (Resource) Modelling.

Kiniero Gold Project, Guinea

• Reverse Circulation (RC) Drilling Program – Sabali South Deposit: A three-month RC drilling program commenced targeting depth extensions and infill opportunities in the central and northern portions of the Sabali South Deposit. The program comprises approximately 115 RC holes for ~20,000 metres, aiming to delineate an extensional indicated/inferred resource to support follow-up infill and conversion drilling activities planned for 2026.
• Diamond drilling program – SGA and NEGD Deposits: Final planning was completed for a diamond drilling campaign schedule to commence in October. The program will consist of 8 diamond holes for ~3,151 metres, targeting improve structural and lithological understanding at depth. The key objective is to define a potential maiden fresh rock inferred resource to support a conceptual underground mine planning study.

Nampala Near-Mine Exploration, Mali

• Near-mine exploration activities continued around the Nampala plant to evaluate sustaining, replacement and growth options, aiming to extend the mine’s life and enhance operational flexibility.
  
   

CORPORATE

Sprott Facility

Robex maintains a US$130 million (C$177.9 million) senior secured facility with Sprott Resource Lending (US Manager) Corp. (“Sprott”) as agent and lead arranger, supporting construction of the Kiniero Gold Project and working capital requirements. The first drawdown of US$25 million (C$34 million) was completed in March 2025.

On 4 September 2025, Robex announced amendments to the Facility Agreement, providing enhanced funding flexibility. Under the revised terms, Robex now has access to US$90 million of the remaining facility without requiring the Mansounia Exploitation Permits or Mining Convention. This included an immediate US$30 million drawdown and US$60 million held in a Debt Proceeds Account, subject to standard release conditions. The remaining US$15m remains subject to receipt of the Mansounia mining permit and mining convention.

Capital Structure Update

The Company’s issued capital increase from 218,202,805 shares at 30 June 2025 to 244,079,269 at 30 September 2025. There shares are dual listed on the ASX (as CDIs) and the TSXV (as common shares).

Robex completed the acceleration of the expiry date for its listed common share purchase warrants issued on 27 June 2024, following ten consecutive trading days where the Company’s share price exceeded C$3.50 per share. As a result, the expiry date was advanced from 27 June 2026 to 18 October 2025:

• During Q3, 25,876,464 warrants were exercised, generating gross proceeds of C$66.0 million.
• Between quarter-end and 18 October 2025, an additional 32,249,534 warrants were exercised, raising C$82.2 million.
• In total, from Q2 through to the end of the warrant exercise period, 58,125,998 warrants were exercised, resulting in gross proceeds of C$148.2 million.
• The remaining 130,006 warrants were not exercised and expired on 18 October 2025.
  
   

ASIC guidance has increased, driven by higher royalty payments resulting from elevated gold prices. Robex achieved a realised selling price of C$4,518/oz, significantly above the budgeted C$3,197/oz.

The Nampala mine remains on track to meet its full-year FY25 production guidance of 46,000 to 48,000 ounces, subject to the operational situation in Mali, including reliable access to fuel.

For FY25, sustaining capital expenditure is forecast to range between C$30–34 million, while stripping costs are estimated at C$26–30 million.

The following assumptions were used in preparing the 2025 forecast:

• Average realized selling price for gold: C$3,197 per ounce
• Fuel price: C$1.85 per litre
• $USD/$CAD exchange rate: 1.39
  
   

This announcement was approved and authorised for release by the Company’s Board of Directors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Robex Resources Inc.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
Email: investor@robexgold.com
www.robexgold.com

Investors and Media:
Nathan Ryan
NWR Communications
+61 420 582 887
nathan.ryan@nwrcommunications.com.au

 

Competent Person's Statement

Information in this Announcement that relates to exploration results is based on, and fairly represents, information and supporting documentation prepared by Mr. Amir Adeli, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy. Mr Adeli has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Adeli is an employee of Robex Resources Management Limited and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.