Ekati LoM plan up to the years 2025-2040

 

Misery underground plan extended by the end of 2027  

Burgundy Diamond Mines Limited provides an updated Life of Mine (LoM) plan for the Ekati Diamond Mine for the years 2025-2040, including the updated Mineral Resource Estimate (MRE) for the Misery pipe, updated Mineral Resource and Ore Reserve Estimates for the Fox pipe, and results of a recent bulk sample trial from the Point Lake pipe.  

The updates are in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves, December 2012 (JORC Code) and the Australian Securities Exchange (ASX) Listing Rules, Chapter 5. Supporting information relating to the changes of Mineral Resources and Ore Reserves is set out in this release and its appendices.  

Other deposits part of the LoM have their Mineral Resource and/or Ore Reserve results, including supporting information, as part of the Company’s ASX market announcement released 13 May 2025. In the accordance with highlights; 1: Misery Main Development Update suggest after the successful drilling program of the high value deposit at Misery, the resource model was updated, and the underground mine plan has been extended by 2.5 years to the end of 2027.

2: Misery Underground is currently being mined on the 2000 level, 1975 level and 1950 level, at a LoM average mining rate of 3,300 wet metric tonnes per day (tpd). The updated mine plan extends down to the 1800 level. 3: In June 2025, the Misery Main pipe MRE was updated to include 28 diamond drill holes drilled between 28 August 2024 and 30 June 2025 and 1,380 kg of microdiamond samples.  

4: The update has resulted in an increase in Inferred Resources of 0.5 million tonnes (Mt) and 0.2 million carats (Mct), and a decrease in Indicated Resources, due to mining activities and updated grade data, of 0.2 Mt and 0.9 Mct. 4a:       The pipe remains open at depth, and delineation drilling will continue to investigate the potential to extend mining beyond 2027.  

5: Fox Underground Development Update-Updated prefeasibility study (PFS) for the Fox Underground Project demonstrates robust and positive economics, with a post-tax NPV (9%) of US$272M and an IRR of 30% for the Ore Reserves Case, and with a post-tax NPV (9%) of US$352M and an IRR of 32% for the Upside Case (mine plan includes additional 3.6 Mt Inferred Resources). Fox Underground development is expected to commence in mid-2026 and supports a mine life of 14 years.

6: An update to the 2018 PFS was completed, significantly lowering initial capital by using the sublevel retreat mining method successfully applied at Misery, and removing the need for underground crushing and conveying infrastructure via Railveyor system.  

7: The update on the Fox mine plan has resulted in the Ore Reserves increasing by 2.6 Mt and 0.3 Mct to Probable Reserves, (represented in no change in grade). 8: In June 2025, the Fox pipe MRE was updated to include data from a 2018 winter drilling campaign conducted by Dominion Diamond Corporation. 

9: The 2018 drilling reduced the overall size of the pipe within Mineral Resource categories by ~10%. The update has resulted in a decrease of 4.3 Mt and 2.6 Mct to Indicated (represented by a change in grade from 0.36 to 0.34 cpt) and a gain of 0.18 Mt and 0.04 Mct to the Inferred resources (represented by no change in grade).  

10: Point Lake Bulk Sample- 67,757 carats (cts) were recovered from 122,291 dry metric tonnes (dmt) processed, with an average value of $52/ct. Mining of the Point Lake pit is anticipated to resume by mid-2026 subject to diamond prices.