Mt Carbine Operations Mt Carbine Project Timeline Development Timeline – On schedule & On budget 6 Phased approach for early cash flow, with continuous Resource development Processing of Historic Mineralised Stockpile – increasing with plant capacitiy UG Resources Drill Out Secure Funding Facility 1 MTPA Plant Ordering & Construction 2023 2024 Q1 Q2 Q1 Q2 Q3 Q4 Q3 Q4 OC Mining – Stage 2 Jan-26 UG Mining Starts UG GeoTech & Refurbishment Q3 2025 Wolfram Camp Exploration Permit Granted Acquisition of Saloro, Spain ✓ $20M QIC Funding Facility ✓ Approval – Extraction Open Pit Mining Q2 Q4 Q1 2026 May 23 BFS Update Western Extension Reserve Update Saloro MRE Update Restart - OC Mining – Stage 1 Open Cut Infill Drilling ✓ ✓ Application - Wolfram Camp Exploration Permit UG ReOpening 2nd Egress Developt. Trial Mining UG BFS LGSP Mining 2 MTPA Plant Ordering & Construction Open Cut Mining Restart BFS Update Mt Carbine Tungsten Mine and Quarrying Operations, QLD, Australia, July 2024 1 Gravity Plant, Procurement, Geo Lab & Core Shed 2 Tailings Dam 3 Quarry & OOSR Stock-pile 4 XRT Sorters 5 LG Ore Stockpile 6 Open Pit 1 2 3 4 5 7 8 Pit Operations Offices 8 9 EQR Offices 9 6 7 Exploration Targets Operating and Financial Review continued 20 EQ Resources Limited Annual Report 2024
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