Atlas Advancing New Iron Ore Mine

RE:GROUP has executed a binding Heads of Agreement (HOA) with Boab Metals Limited (ASX: BML) for the provision of mining services at the Sorby Hills Silver-Lead Project in the East Kimberley region of Western Australia. Site establishment works are scheduled to commence 15 January 2027, with full mining operations to begin no later than 1 March 2027. The binding HOA locks in the key commercial, scope, mine planning, and production requirements for the engagement. The definitive Mining Services Contract is substantially complete, with both parties targeting execution within weeks. A significant project in Australia's mining landscape The project is targeting first silver-lead concentrate production in the second half of 2027, with concentrate transported 150 kilometres to the Port of Wyndham for export. RE:GROUP will mobilise a 300-tonne fleet to site to deliver open pit mining services across the project, operating in close coordination with Boab Metals' mine planning and production teams to support the project's development schedule. RE:GROUP extends its Kimberley footprint The Sorby Hills HOA marks a significant milestone in RE:GROUP's national growth strategy. Having established a strong project footprint in the West Kimberley — most recently through operations at the Thunderbird Mineral Sands Mine — RE:GROUP now extends its presence into the East Kimberley, reinforcing its position as a contractor of choice for major projects across the region and across Australia. RE:GROUP looks forward to establishing a long-term presence in the East Kimberley — building meaningful relationships with local communities and creating lasting partnerships in the region as the business grows its footprint across Australia. RE:GROUP Managing Director Michael Still said the HOA reflects the business's growing capability and its ambition to be part of the nation's most significant mining projects. "Sorby Hills is exactly the kind of project RE:GROUP wants to be part of. It is a significant development for the East Kimberley region and for Western Australian mining more broadly, and we are proud to have executed this Heads of Agreement with Boab Metals. This milestone is a reflection of the capability, fleet, and operational experience RE:GROUP has built — and it marks an exciting step as we extend our footprint into the East Kimberley." — Michael Still, Managing Director, RE:GROUP "Execution of the binding Heads of Agreement for mining services represents another important milestone in the development of Sorby Hills, and we are pleased to be formalising this agreement with RE:GROUP. From the outset, RE:GROUP demonstrated the capability and operational depth we were looking for in a mining services partner for a project of this scale. We look forward to working closely with the RE:GROUP team as we progress Sorby Hills toward operations." — Simon Noon, Managing Director & CEO, Boab Metals Limited About Sorby Hills The Sorby Hills Silver-Lead Project is operated by Boab Metals Limited (ASX: BML) and is Australia's largest undeveloped, near-surface silver-lead deposit. Following a Final Investment Decision in Q4 2025 and the raising of more than A$350 million in debt and equity, the project is advancing toward first production in the second half of 2027. All requisite approvals to commence mining and construction have been received.

Western Australian mining contractor RE:GROUP has been awarded a 3 + 2 year ore mining contract at the Thunderbird Mineral Sands Mine, located in The Kimberley’s, and is now fully operational at the site with an 89-strong team on the ground. RE:GROUP has deployed a fleet of five D11 dozers, three excavators, and a 988K wheel loader to conduct all ore mining operations at Thunderbird. The scope covers direct-feed dozer push operations, a specialised methodology in which ore is pushed directly into the Dry Mining Unit (DMU), in close integration with Kimberley Mineral Sands' technical services team. The contract marks RE:GROUP's entry into direct-feed dozer push mineral sands mining, adding a new capability to the business's established portfolio of contract mining, bulk haulage, and civil services across Australia. From waste mining to ore mining — a partnership built on performance RE:GROUP's appointment to the ore mining scope at Thunderbird is the direct result of the performance demonstrated through its earlier waste mining contract at the site. Having integrated closely with the Kimberley Mineral Sands team on the ground, RE:GROUP earned the confidence of its client to take on the expanded ore mining scope, deploying its new fleet of D11 dozers to deliver the next phase of operations. RE:GROUP Managing Director Michael Still said the Thunderbird contract is a reflection of how the business builds long-term client relationships. "Our relationship with Kimberley Mineral Sands at Thunderbird is a great example of what genuine partnership looks like in practice. We came onto this project through the waste mining contract, and the way our team performed and integrated with the Kimberley Mineral Sands operation opened the door to this next phase — bringing our new fleet of D11 dozers to deliver the ore mining scope. That's how RE:GROUP builds long-term client relationships. We show up, we deliver, and we grow together." — Michael Still, Managing Director, RE:GROUP Contract signing The contract was formalised at a signing ceremony held at RE:GROUP's Perth offices, bringing together the RE:GROUP and Kimberley Mineral Sands teams.