TRX Gold Corporation Reports on Buckreef Gold Project Advancements

TRX Gold Corporation has announced significant updates regarding the Buckreef Gold Project, including robust recovery rates from recent metallurgical studies and an expanded scope for the plant expansion. The company achieved recovery rates between 89%-92%, exceeding the 88% assumed in the Preliminary Economic Assessment (PEA). Consequently, TRX Gold is planning a larger processing plant with a 3,500+ tonnes per day (tpd) capacity, utilizing a SAG/Ball mill combination, which is an increase from the 3,000 tpd in the PEA. Tendering for the SAG mill has begun, with expected orders in Q3 2026 and completion in Q2 2027. Upgrades to the existing 2,000 tpd plant are also underway, expected to be completed by Q4 2026. The company is revising its life-of-mine plan due to increased processing capacity and higher gold prices, with preliminary analysis suggesting potential for expanded open-pit operations and an earlier start to underground mining. The estimated capital costs for the total plant expansion and upgrades are now projected at $45-50 million, an increase from the initial PEA estimates. This expansion is expected to increase average annual gold production beyond the 62,000 ounces initially anticipated.