BHL – Black Horse Mining Limited

Black Horse Mining Limited currently holds 51% of the historical Mt Egerton gold mines near Ballarat in Victoria, Australia and is earning up to 80% by spending $4 million over five years on exploration and development.

Mt Egerton is one of only eight gold mines in Victoria to produce over 1 million ounces of gold from primary rock (not alluvial), it lies within the Bendigo-Ballarat zone; one of the most prolific gold producing zones in the world with over 80 million ounces produced to date.

Early records of production, which started in 1853, were either not kept or no longer exist. Recorded production up to 1903 stands at approximately 1.29 million ounces at between 5.5 and 19.3 grams/tonne; operations ceased in 1906 due to water ingress and failure of pumping equipment.

Some shallow drilling during the 80s and 90s shows evidence for unmined shoots within 200m of surface and stoping of high-grade shoots continuing to depth in the deeper part of the mine (c.550m) was stopped by water ingress. The Company plans to undertake drilling and other investigatory work to define resources and reserves capable of supporting a high-grade gold operation at the Mt Egerton project.

Proceeds from the IPO will enable Black Horse to accelerate resource definition drilling, undertake geophysics and geochemistry programs, advance land access and environmental initiatives, while also positioning the Company to engage with potential strategic partners to support future development.

It is anticipated that BHL will list on the ASX during November 2025.