Saturn Metals Limited has announced a significant resource upgrade at its Apollo Hill Gold Project in Western Australia, marking the second update this year. The latest resource estimate now stands at 137.1 million tonnes at 0.51 g/t, amounting to approximately 2.239 million ounces of gold. Using a 0.20 g/t cut-off grade and an economic pit shell generated through Whittle optimisation at a gold price of AUD3,550 per ounce, these figures represent a 10% increase over the previous estimate and a notable 59% growth in the combined higher confidence Measured and Indicated categories, which now account for 82% of the total resource. The upgrade is underpinned by a 300-hole Reverse Circulation drilling program and additional diamond drilling (a total of 55,757 metres) completed since the February update. Data from the drilling indicates an impressive average conversion rate of 8.9 ounces of gold per metre drilled, and the resource model now incorporates refined block sizes and improved geological control. The near-surface location of the high-confidence material, classified as both Measured and Indicated, is seen as an ideal basis for the upcoming Pre-Feasibility Study and subsequent Ore Reserve estimation targeted for later in the year, with plans to further update the resource estimate and refine mining parameters by 2026. The company’s comprehensive technical work extends to metallurgical and geotechnical studies, with ongoing test work confirming the ore's amenability to conventional bulk open pit mining and heap leach processing. Detailed mapping, geostatistical modelling via ordinary kriging, and Whittle pit optimisation techniques have further enhanced the resource’s economic viability and scale potential. Saturn Metals’ strategic approach also includes infill drilling to convert additional inferred material into higher confidence categories and exploration across a 1,000 km² tenement package to look for new satellite discoveries. From a market sentiment perspective, bullish indicators include the consistent expansion of the Apollo Hill resource base, its improved resource classification, and the clear demonstration of economies of scale achievable through the open pit model. These factors point to a growing asset that is well-positioned for subsequent feasibility studies and potential mine development. On the bearish side, risks remain inherent in early-stage mining projects, including uncertainties in metallurgical recoveries, the need for further infill drilling to reduce resource uncertainty at the margins, and potential cost implications as mining scenarios are refined. Overall, the announcement reinforces Saturn Metals Limited’s commitment to advancing the Apollo Hill project towards production, while providing a robust technical foundation for future development.