New Simberi Gold has officially signed the revised 2013 National Executive Council (NEC) Endorsed Community Development Agreement (CDA), securing a transparent benefit-sharing framework and a K15 million State infrastructure commitment for the landowners of the Tabar Islands.

The landmark agreement was executed on Friday, October 9, 2026, at the Mineral Resources Authority (MRA) Head Office in Port Moresby by New Simberi Gold's umbrella entity, Tabar Island Holdings Pty Ltd (TIHPL).

The signing marks the final piece of a negotiation process spanning nearly three decades, following a prior execution ceremony on August 28, 2026, by other state and landowner stakeholders. New Simberi Gold temporarily deferred its signing to allow joint-venture partners—including St Barbara, Lingbao Gold Group, and Kumul Minerals Holdings Ltd—to finalize internal board approvals.

The revised CDA resolves historical grievances by establishing a direct, transparent pipeline that routes mining royalties straight to their intended local beneficiaries. Alongside improved royalty management, the agreement locks in a three-year, K15 million state funding package to build critical socioeconomic infrastructure across Simberi and the wider New Ireland Province.

"Following concerns raised over royalty distribution in the past, this agreement establishes a more transparent process that directs royalties straight to beneficiaries," said TIHPL Country Manager Randy McMahon. "That is one of the most significant achievements of this CDA. It creates opportunities for government and industry to work together on community priorities."

The strategic agreement looks past the active lifespan of the mining project, setting up a long-term development blueprint designed to support landowners, safeguard their families, and maintain local economic stability well beyond the eventual closure of the mine.

MRA Project Coordination Manager Pelis Vatnabar highly commended the milestone, noting that intense stakeholder discussions resumed in 2025 before successfully concluding this year. Vatnabar stated that the breakthrough structurally unites the State, provincial governments, landowners, and the developer to protect the collective socioeconomic future of the Tabar Islands.

Mr. Vatnabar said the milestone strengthened the partnership between the company, the State and the various levels of government,

creating an opportunity to work collectively towards the broader development interests of Simberi stakeholders.

For New Simberi Gold and its partners, the signing marks an important achievement in establishing an updated framework for

community development and stakeholder cooperation. The focus now shifts to working with the participating parties to progress the

agreement’s commitments and support practical, lasting benefits for communities throughout the Tabar Islands and New Ireland Province.