Deccan Gold Mines has appointed Ms. Jade Gemma Devenish as a Non-Executive Non-Independent Director, effective August 07, 2026. The appointment was approved by the Board of Directors during a meeting held on Friday, August 07, 2026, which commenced at 4:30 p.m. and concluded at 07:35 p.m. This addition to the Board strengthens the company’s leadership team with an executive who has been instrumental in developing India’s first operational gold mine since Independence. The appointment is liable to retire by rotation and requires subsequent regularization through shareholder approval.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in its filing with the BSE Limited. Subramaniam Sundaram, Company Secretary & Compliance Officer, signed the disclosure on behalf of the company.

Ms. Devenish brings significant industry experience to the Board. Having relocated from Australia to India in 2009, she has dedicated her career to the group’s mining ambitions. She served as Managing Director of Geomysore Services India Pvt Ltd (GMSI) from 2014 to 2023, having joined as a Director in 2009. Her tenure included leading the completion of the NI 43-101 Technical Report for the Jonnagiri Gold Project, overseeing fundraising, land leasing, statutory approvals, and feasibility studies that moved the project from concept to construction.

Appointment Details

Regulatory Compliance

The filing confirms that Ms. Devenish is not related to any existing Directors of the company. Furthermore, she is not debarred from holding the office of Director by virtue of any SEBI order or other authority, as required under Circular No. LIST/COMP/14/2018-19 dated June 20, 2018, issued by the BSE. The appointment will be regularized with the approval of shareholders at a subsequent meeting.

Deccan Gold Mines has successfully produced its first gold doré at the Altyn Tor Project in Kyrgyzstan, marking a definitive step in its transition from an explorer to a producer. The achievement, disclosed on August 05, 2026, validates the company's processing technology under live operating conditions and significantly de-risks the path to full-scale commercialisation. This milestone confirms the metallurgical leachability of the material, translating high laboratory recovery rates into actual production output and reinforcing confidence in the project's commercial potential.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. For the proof-of-concept run, a batch of gravity circuit concentrate was processed through newly installed Intensive Leach System (ILS) tanks. Gold was recovered from the pregnant leach solution via the Merrill-Crowe process and subsequently smelted to produce doré. The primary objective was to evaluate the integrated process design and validate parameters in active field conditions.

Project Background and Resources

Altyn Tor is located in the Naryn region of central Kyrgyzstan, approximately six hours by road from Bishkek. Deccan Gold holds a 60% stake in Avelum Partners LLC, the developer and operator of the project. This investment represents the first entry by an Indian mining and exploration company into Kyrgyzstan. The deposit is part of the Soltan Sary mineralization zone within the Tien Shen Shear Zone, known for hosting world-class gold deposits.

The following table summarises the key project parameters at Altyn Tor:

Current mineral resources at Altyn Tor are estimated to contain 180 koz (5.6t) of gold. The site has historical significance, having been mined by State-owned Kyrgyzaltyn OJSC starting in 1993. Kyrgyzaltyn produced approximately 2,200 kg of gold before temporarily closing the mine in 2022. Avelum entered into an agreement with Kyrgyzaltyn in 2022 to develop and operate the mine, following a 2023 feasibility study that demonstrated the viability of increasing recovery through a new leaching circuit.

Operational Expansion and Future Outlook

Avelum is currently upgrading and expanding the processing plant capacity to include gravity and leaching circuits. Concurrently, recent drilling programmes have indicated that current mineral resources significantly understate the true size of the deposit. Drilling has shown extensions to the west and below the current pit design, with high-grade intersections potentially supporting future underground mining. Further drilling is planned from 2026 onwards to assess these extensions.

Deccan Gold intends to update the mineral resources and develop a revised life-of-mine plan. These results will be presented to the Kyrgyzstan Committee of State Reserves for authorisation to increase the operation's life. Managing Director Dr. Hanuma Prasad Modali stated that validating the complete processing flowsheet provides confidence in the project's commercial potential and reinforces the strategy of building a globally diversified portfolio.

Technical Validation and Significance

The production of the first doré serves as a critical technical validation rather than a volume metric. The success of the proof-of-concept run demonstrates that the engineered solution—combining gravity concentration with intensive leaching—works as designed in real-world conditions. This reduces execution risk for the upcoming capital expenditure required for full-scale plant upgrades. With resources understated due to limited drilling, the potential for resource growth remains a key value driver alongside operational validation.