Quarterly Activities/Appendix 5B Cash Flow Report

Variscan Mines has released its Quarterly Activities Report for the period ending 30 June 2025, showcasing significant progress at the Novales-Udias Zinc Project in Northern Spain.

Highlights include high-grade zinc and lead intercepts in underground drilling at Udias Mine, two new exploration licenses granted, and progress with the Mine Re-Start Study, with metallurgical test work and geotechnical assessments enhancing the understanding of the project's viability. The Company's Managing Director & CEO, Stewart Dickson, emphasized the strategic expansion of the Novales-Udias Project through new licenses and exploration activities. With a focus on leveraging the project's de-risked, former producing mine status, Variscan aims to generate early cash flow through recommencing production at the San Jose and Udias Mines. Investors are encouraged to ask questions and engage with the Company for further insights into the latest developments and the future outlook of Variscan Mines.

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