Onslow Iron Royalty

Red Hill Minerals owns a 0.75% FOB royalty over the Onslow Iron Project located in Western Australia that is operated by Mineral Resources Limited (ASX: MIN).

The project is cashflow positive with the project expected to reach nameplate capacity of 35 million tonnes per annum in Q1 FY26⁽¹⁾.

The royalty revenue stream on iron ore payable to Red Hill covers a combined Mineral Resource Estimate of over 1.1 billion tonnes of iron ore and will be sourced from:

1. all future production from the RHIOJV tenements that has a Mineral Resource⁽²⁾ of 744 Mt at a grade of 56.3% Fe;
2. for the first 10 years, all production from the Australian Premium Iron Joint Venture owned Upper Red Hill Creek tenement, if the Project expands into that tenement that has a Mineral Resource⁽³⁾ of 91.8 Mt at a grade of 57.1% Fe; and
3. all production from the Mineral Resources Limited owned Bungaroo South tenement if developed in association with the RHIOJV tenements that has a Mineral Resource⁽⁴⁾ of 283 Mt at a grade of 56.5% Fe.