Hanking Gold (03788.HK) Awards Dry and Wet Plant Contracts for the Mt Bundy Gold Project, Advancing Steadily Towards First Gold in Q1 2028

HONG KONG, August 12, 2026 - (ACN Newswire) - On August 10th 2026, the board of directors of Hanking Gold International Limited (03788.HK; “Hanking Gold” or the “Company”) is pleased to announce that, its wholly-owned subsidiary, Primary Gold Pty Ltd, has awarded two contracts for the construction of the 5.5 Mtpa processing plant of the Mt Bundy Gold Project to the two experienced Australian delivery contractors, Delonix Solutions and CPC Engineering.

Delonix Solutions will provide EPC services for the Dry Plant, covering the full design, engineering, procurement, construction, installation and commissioning of the Dry Plant. The EPC contract has a fixed price of AUD92.48 million. Critical commercial protections contain a fixed lump-sum price, liquidated damages and retention, insurance and professional indemnity requirements, and direct payment by Primary Gold of major equipment packages, with title to equipment and materials passing to Primary Gold on payment or delivery.

Under the EPC contract, the Dry Plant is designed for a maximum throughput of 7.0 Mtpa, providing headroom above the 5.5 Mtpa nameplate plant duty and built-in capacity for future expansion. Construction is targeted to be completed with the Dry Plant completion and commissioning in December 2027.

CPC Engineering will provide engineering, procurement and construction management (EPCM) services for the Wet Plant. It will also manage the Wet Plant procurement on behalf of Primary Gold and administer the interface with Delonix Solutions’ Dry Plant EPC contract. The EPCM budget is AUD28.50 million including a 15% contingency allowance. This comprises a fixed lump-sum price of AUD9,462,257 for the engineering and procurement(EP) component.

Under the EPCM contract, the works for the Wet Plant are to be completed with engineering completion before April 2027 and Wet Plant commissioning in early 2028 to supporting first gold pour in the first quarter of 2028.

The selected delivery model combines an EPC for the Dry Plant and an EPCM for the Wet Plant. This gives the Company direct visibility of, and control over major equipment procurement while retaining schedule flexibility. Total capital expenditure for the two Process Plants is estimated at AUD393.97 million. In addition to the two contract amounts above, this includes a capital estimate of AUD229.29 million for the Wet Plant and a contingency allowance of AUD43.50 million. As at August 10th 2026, the cash reserve for the gold business is approximately AUD220 million. Moreover, the Company is at an a advanced stage in its competitive debt finance tendering process with 14 Australian and international commercial banks participating in the process. The company has full confidence to secure sufficient funds for its gold development business.

Dr. Qiu Yumin, an Executive Director and the Chief Executive Officer and President of the Company, said: “The award of the EPC and the EPCM contracts for the processing plant construction is a major step in the development of the Mt Bundy Gold Project into a gold-producing mine. We appreciate the firm commitments made by these two experienced Australian contractors with strong track records in mineral processing delivery to deliver this exciting project on time and within budget. We are pleased that the EPC/EPCM contracts confirm our DFS with capital cost and schedule in line with our stated development and production plan, albeit under the challenging Australian labour market conditions. We thank all participating tenderers for their offers and comments, which helped us refine our design for a stronger and simpler processing plant with future throughput growth flexibility.

The Dry Plant is contracted on a lump sum fixed price with performance guarantees, and the Wet Plant engineering and procurement is fixed price, which gives the Company a high degree of cost certainty as we move into the construction phase. With the Ball Mill ordered, construction site cleared and earthworks underway, we remain firmly on track to commence gold production in the first quarter of 2028, which is set to deliver value for Shareholders and other stakeholders of the Company. The construction of the processing plant and the upcoming mining activities will create up to 400 jobs. We firmly commit, in collaboration with our EPC and EPCM contractors, to deliver the project in a safe and sustainable way.”

About Delonix Solutions

Delonix Solutions is a Perth-based mineral processing engineering company founded in 2011, delivering projects under the EPC, the EPCM, BOO and BOOT models across Australia and international markets. Delonix Solutions specialises in crushing, screening, comminution and conveying systems, integrating ROM walls, stockpiles and ore reclaims, and has developed a proprietary whole-of-system modular design methodology for high-throughput, low-head circuits. Its multi-disciplinary team spans structural, mechanical, civil, piping, electrical and instrumentation engineering, and it has delivered large-scale ore processing and materials handling infrastructure for major mining operations in Australia and Africa.

About CPC Engineering

CPC Engineering is a Western Australian engineering group with more than 50 years of operating history, providing engineering design, construction, commissioning and maintenance services to the mineral resources sector. CPC Engineering offers end-to-end delivery from metallurgical testwork and feasibility study through design, procurement, construction management and asset management, with particular depth in mineral concentration and hydrometallurgical processing. The group operates an integrated network of design offices and workshops across Western Australia, including Kalgoorlie, Esperance, Albany, Port Hedland and Karratha, and has delivered projects in Australia, Asia and Africa.