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ACTIVEX LIMITED Interim / Quarterly Report 2026
64348_rns_2026-04-28_156be9dd-b3e1-4cf1-9bc3-6dba90e561a6.pdf
Interim / Quarterly Report
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Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
ActivEX Limited
ABN
11 113 452 896
Quarter ended ("current quarter")
31 March 2026
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | - | - |
| 1.2 | Payments for | ||
| (a) exploration & evaluation | - | - | |
| (b) development | - | - | |
| (c) production | - | - | |
| (d) staff costs | (36) | (207) | |
| (e) administration and corporate costs | (120) | (290) | |
| 1.3 | Dividends received (see note 3) | - | - |
| 1.4 | Interest received | - | - |
| 1.5 | Interest and other costs of finance paid | - | (404) |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Government grants and tax incentives | - | - |
| 1.8 | Other (provide details if material) | - | - |
| 1.9 | Net cash from / (used in) operating activities | (156) | (901) |
| 2. Cash flows from investing activities | |||
| --- | --- | ||
| 2.1 Payments to acquire or for: | |||
| (a) entities | - | ||
| (b) tenements | - | ||
| (c) property, plant and equipment | - | ||
| (d) exploration & evaluation | (19) | ||
| (e) investments | - | ||
| (f) other non-current assets | - |
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 2.2 | Proceeds from the disposal of: | ||
| (a) entities | - | - | |
| (b) tenements | - | 54 | |
| (c) property, plant and equipment | - | - | |
| (d) investments | - | - | |
| (e) other non-current assets | - | - | |
| 2.3 | Cash flows from loans to other entities | - | - |
| 2.4 | Dividends received (see note 3) | - | - |
| 2.5 | Other - adjustment to opening balance as a result of disposal of a subsidiary | - | - |
| - refund of tenement deposits | - | 1 | |
| 2.6 | Net cash from / (used in) investing activities | (19) | (20) |
| 3. Cash flows from financing activities | |||
| --- | --- | --- | --- |
| 3.1 | Proceeds from issues of equity securities (excluding convertible debt securities) | 815 | 1,715 |
| 3.2 | Proceeds from issue of convertible debt securities | - | - |
| 3.3 | Proceeds from exercise of options | - | - |
| 3.4 | Transaction costs related to issues of equity securities or convertible debt securities | (49) | (49) |
| 3.5 | Proceeds from borrowings | 100 | 550 |
| 3.6 | Repayment of borrowings | - | (694) |
| 3.7 | Transaction costs related to loans and borrowings | - | - |
| 3.8 | Dividends paid | - | - |
| 3.9 | Other (Share Buy Back) | - | - |
| 3.10 | Net cash from / (used in) financing activities | 866 | 1,522 |
| 4. Net increase / (decrease) in cash and cash equivalents for the period | |||
| --- | --- | --- | --- |
| 4.1 | Cash and cash equivalents at beginning of period | 98 | 188 |
| 4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (156) | (901) |
| 4.3 | Net cash from / (used in) investing activities (item 2.6 above) | (19) | (20) |
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 4.4 | Net cash from / (used in) financing activities (item 3.10 above) | 866 | 1,522 |
| 4.5 | Effect of movement in exchange rates on cash held | - | - |
| 4.6 | Cash and cash equivalents at end of period | 789 | 789 |
| 5. | Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
| --- | --- | --- | --- |
| 5.1 | Bank balances | 789 | 98 |
| 5.2 | Call deposits | - | - |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other (provide details) | - | - |
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 789 | 98 |
| 6. | Payments to related parties of the entity and their associates | Current quarter $A'000 | |
| --- | --- | --- | |
| 6.1 | Aggregate amount of payments to related parties and their associates included in item 1 | 35* | |
| 6.2 | Aggregate amount of payments to related parties and their associates included in item 2 | - | |
| Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. |
- Fees for Executive Director and Non-Executive Director
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| 7. | Financing facilities Note: the term “facility” includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end $A'000 | Amount drawn at quarter end $A'000 |
|---|---|---|---|
| 7.1 | Loan facilities | ||
| 7.2 | Credit standby arrangements | ||
| 7.3 | Other (please specify) | ||
| 7.4 | Total financing facilities | ||
| 7.5 | Unused financing facilities available at quarter end | ||
| 7.6 | Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. | ||
| On 10 March 2026, the Company executed a Debt to Equity Conversion Deed with Star Diamond Developments Limited (“Star Diamond”) pursuant to which Star Diamond agreed to convert all outstanding loans including accrued interests due by the Company under a $5 million unsecured loan facility (“SD Facility”) into 100% equity of the Company's wholly owned subsidiary, East Coast Gold and Copper Pty Ltd (“ECGC”). Accordingly, all outstanding loan due to Star Diamond by the Company were fully discharged and the Loan Facilities were terminated forthwith. As of 31 March 2026, the Company had no outstanding debt as a result of the aforesaid loan. | |||
| 8. | Estimated cash available for future operating activities | $A'000 | |
| --- | --- | --- | |
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (156) | |
| 8.2 | (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) | (19) | |
| 8.3 | Total relevant outgoings (item 8.1 + item 8.2) | (175) | |
| 8.4 | Cash and cash equivalents at quarter end (item 4.6) | 789 | |
| 8.5 | Unused finance facilities available at quarter end (item 7.5) | - | |
| 8.6 | Total available funding (item 8.4 + item 8.5) | 789 | |
| 8.7 | Estimated quarters of funding available (item 8.6 divided by item 8.3) | 4.51 | |
| Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. | |||
| 8.8 | If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? | ||
| Answer: N/A | |||
| 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? | |||
| Answer: N/A |
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? |
|---|
| Answer: N/A |
| Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. |
Compliance statement
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- This statement gives a true and fair view of the matters disclosed.
Date: 29 April 2026
Authorised by: By the Board of ActivEX Limited
(Name of body or officer authorising release – see note 4)
Notes
- This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
- If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
- Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
- If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
- If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
ASX Code: AIV
Issued Capital
312,515,461 ordinary shares (AIV)
Market Capitalisation
$5.31M (28 April 2026, $0.017)
Directors
Min Yang (Chairman, NED)
Mark Derriman (Managing Director)
Geoff Baker (NED)
Dongmei Ye (NED)
About ActivEX
ActivEX Limited is at the forefront of mineral exploration, committed to uncovering high-value mineral resources.
With a steadfast dedication to sustainability and innovation, ActivEX aims to deliver enduring value for its shareholders and positively impact the communities in which it operates.
Suite 2, 3B Macquarie Street
Sydney, NSW 2000
[email protected]
www.activex.com.au
Phone +61 (02) 9251 9088
ABN 11 113 452 896
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Gold and critical minerals explorer ActivEX Limited (ASX: AIV) ("ActivEX" or "the Company") provides the following summary of activities undertaken during the quarter ended 31st March 2026. See Figure 1 for the location of the AIV's Queensland projects.
Summary and Highlights
Commercial Highlights
Full repayment of Star Diamond Loan
During the Quarter ended 31st of March 2026, the company completed a debt-to-equity Conversion with Star Diamond Development Ltd, converting all outstanding loans and accrued interest under the $5 million unsecured facility into 100% equity of its wholly owned subsidiary, East Coast Gold and Copper Pty Ltd.
Capital Raising Activities
During the Quarter ended 31st of March 2026, the Company successfully completed a $815,257.68 Placement to the investors. Funds raised by the Placements will be used for further development of the Company's existing exploration projects and for general working capital.
Exploration Highlights
Gilberton Gold Project
Gilberton Gold are currently working on an upgrade to the JORC Inferred Mineral Estimate reported to the market – ASX Announcement 24th November 2025 and planning for further Mt Hogan Resource Based Drilling later in 2026
Westgrove Rare Earth Elements (REE) Project
A Native Title Exploration Agreement with the Wardingarri Aboriginal Corporation RNTBC has been finalised and lodged with the Qld State Government and the National Native Title Tribunal with the Company now waiting on a meeting of the Gungarri Aboriginal Corporation RNTBC to finalise a Compensation and Access Agreement which will be the final hurdle for the grant of EPM 29159 (Doonkuna) and the commencement of REE exploration. The finalised agreements will then allow the short term grant of Warrong (EPM 29220) and, Maranoa (EPM 29221). Exploration will be targeting REE mineralisation within a fine-grained sandstone rock of the Westgrove Ironstone Member
Georgetown Gold and Critical Metals Project
An Information Memorandum outlining exploration targets and historical exploration has been finalised and distributed by AMETS to all their clients. The Company is currently seeking JV partners or sale of the asset so that available funds can be directed towards its key projects.
Aramac REE and Base Metal (Zn and Co) Project
Surficial geochemical sampling and geological mapping will commence over the next 6 month period to further advance the prospectivity of the project
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
FINANCIAL
As of 31st March 2026, the Company had $789,000 in cash. On 10 March 2026, the Company executed a Debt-to-Equity Conversion Deed with Star Diamond Developments Ltd pursuant to which Star Diamond agreed to convert all Outstanding loans including accrued interests due by the Company under a $5 million unsecured loan facility into 100% equity of the Company's wholly owned subsidiary, East Coast Gold and Copper Pty Ltd. Accordingly, all outstanding loan due to Star Diamond by the Company were fully discharged and the Loan Facilities were terminated forthwith. As of 31 March 2026, the Company is completely loan debt free considerably strengthening its Balance sheet and financial position.
On 12 March 2026, the Company completed its $421,752.16 placement and issued 21,087,628 fully paid ordinary shares at $0.02 per share to Investors named Xuan Dong and Ah Ching Wong.
On 25 March 2026, the Company completed its $393,505.12 placement and issued 19,675,256 fully paid ordinary shares at $0.02 per share to Investors named Xuan Dong and Xinwei Chen.
As required pursuant to section 6 of the Company's Appendix 5B, during the quarter, the Company paid $35,000 to related parties which represents director fees paid to Executive and Non-Executive Directors.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Figure 1. ActivEX Limited Queensland Projects and tenements.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
OPERATIONS
GILBERTON GOLD PROJECT – North Queensland
(EPMs 18615, 18623, 26232 and 26307 – JV with Gilberton Gold Pty Ltd)
Gilberton Gold are working on an upgrade to the Maiden Inferred JORC Inferred Mineral Resource Estimate announced in November 2025 and planning for further resource based drilling later in 2026.
Background Summary and Highlights
Resource definition drilling completed at Mt Hogan Gold Project: (ASX Announcement 24th November 2025)
Resource definition drilling completed on schedule and on budget
A total of 4,996 meters of Reverse Circulation (RC) drilling completed a four prospects with average depth of 94m.
The drilling program was designed to expand the existing JORC Inferred Mineral Resource Estimate (MRE) of 8.8Mt @ 1.13g/t Au for 310,000 ounces gold at a cutoff grade of 0.3g/t gold (ASX Announcement 21st July 2025 – Maiden JORC Inferred Gold Mineral Resource Estimate)
On behalf of Gilberton Gold Pty Ltd, WA based consulting firm Auspin completed a JORC Compliant Inferred Mineral Estimate comprising 8,500,000t @ 1.13g/t Au for 310,000oz Au at a 0.3g/t cutoff. Drilling has recommenced with a planned 5,000m RC drilling program), and will focus along the southern margin of the Mt Hogan Granite. Details refer to the ASX announcement “Maiden JORC Compliant Gold Inferred Mineral Resource Estimate” dated 21 July 2025.
The Gilberton Gold Project is situated in the Georgetown Province in northeast Queensland, approximately 300km west-northwest of Townsville (Figure 1). The Project consists of EPMs 18615, 18623, 26232 and 26307, which comprise a total of 143 sub-blocks and encompass an area of 370km².
The Project is located in an area which is prospective for a number of metals and a wide range of deposit styles. The world-class Kidston breccia hosted Au-Ag deposit occurs in similar geological terrain approximately 50km to the northeast.
The Mt Hogan gold deposit is the largest historical gold producer in the Gilberton district at 74,930oz. The deposit is located 18 km northeast of Gilberton Homestead and is hosted in the Devonian age Mt Hogan Granite (Figure 2). The granite pluton is an irregular horseshoe shape in outcrop, 7kms in diameter and has intruded Proterozoic metasediments and mafic intrusives of the Robertson River Subgroup. The granite is composed of green, grey (sericite chlorite altered) to pink (fresh), medium to coarse-grained, equigranular, sparsely porphyritic and biotite adamellite. Northern outcrops of the granite appear to comprise less fractionated (more mafic) phases within the intrusion compared to the southern margin of the intrusion. Permo-Carboniferous rhyolite and andesite dykes have been mapped immediately north of the Mt Hogan gold deposit Drilling at Mt Hogan suggests the southern contact between granite and the surrounding metasediment is near vertical. There has been no activity in the quarter.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Figure 2 ActivEX Limited Gilberton Gold Project.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Gold mineralisation is concentrated around the southeastern margin of the Mt Hogan Granite and consists of a set of stacked, shallow, southwest dipping (10-20') mesothermal quartz-sulphide veins. The veins are composed of medium-grained, euhedral buck quartz crystals that have been brecciated and recrystallised by later movement of the vein structures. The cores of the veins are often filled with sulphide. The lenticular veins are enveloped by an alteration halo of sericite (proximal), chlorite and epidote (distal) and appear to have developed in tensional openings produced by north-easterly thrusting. Continued movement along structures after vein formation has deformed and folded some veins Individual veins reach up to 60cm in thickness but are generally thinner (10 – 20cm). Face sampling within the Mt Hogan open pit returned assays to 40.5g/t Au and 138 g/t Ag.
The grade distribution is directly proportional to the sulphide (especially pyrite:5-20%) content of the vein. The presence of minor base metal sulphides is a good indicator of high-grade ore. The silver-to-gold ratio is generally 1.1:1. The depth or weathering is approximately 30m with no well-defined oxide, transition of sulphide zones.
There are four main types of gold mineralisation:
- Massive sulphide with quartz veining (footwall lode)
- Quartz veining with fresh to oxidized sulphides
- Quartz veining with sulphides and jasper
- Disseminated pyrite in granite
Figure 3 Thorium Radiometric Base Image detailing the proposed 2025 Exploration Plan for Mt Hogan Granite, specifically focusing on the 10km zone along the southern margin of the granite.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
2024 Drilling Highlights:
- AMHRC075: 5m @ 13 g/t Au, including 1m @ 50 g/t Au.
- AMHRC058: 1m @ 17.15 g/t Au.
- AMHRC062: 1m @ 11.85 g/t Au and 1m @ 7.35 g/t Au.
- AMHRC067: 1m @ 12.9 g/t Au and 1m @ 13.95 g/t Au.
Key Highlights:
- The Company successfully completed a 2,416m RC drilling program at the historic Mt Hogan Gold Mine, marking a significant milestone in its exploration journey (Figures 2 & 3).
- Exceptional high-grade gold intercepts were confirmed across multiple zones (Figure 4).
- Average drilling depth: 115m, with a maximum depth of 185m.
- HQ core drilling, set to commence in 2025, will provide metallurgical samples, structural insights, and specific gravity measurements.
- Auriferous lodes, dipping southwest (~20°), consist of stacked mesothermal quartz-sulphide veins with robust gold and silver grades.
Detailed assay results and geological interpretations are illustrated in Sections M3 and M4 (Figures 5 & 6).
Figure 4 Mt Hogan Drilling Plan View.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activev.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Figure 5. Mt Hogan Historic Gold Mine Cross Section M3
Figure 6. Mt Hogan Historic Gold Mine Cross Section M4
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
GEORGETOWN GOLD AND CRITICAL METAL PROJECT – North Queensland
(EPMs 27805, 27811, 27812, 28120, 28277 & 28417 – ActivEX 100%)
During the Quarter the Company continued to hold discussion with potential Joint Venture (JV) partners as well as planning for the next phase of exploration involving surficial geochemical exploration in 2H CY 2026
Background Summary and Highlights
During the September quarter, the Company completed the compilation all the historical data pertaining to the 6 exploration licences in conjunction with the merged geophysical open file data and has generated several high priority gold and base metal targets. An Information Memorandum (IM) has been completed and marketed with AMETS to their significant client base. Initial exploration will target surficial geochemical exploration across the high priority targets in Q1 2025.
The Georgetown Gold Project (Figure 1 & 7) is situated within the Proterozoic Etheridge Province in northeast Queensland, approximately 400km west-northwest of Townsville and 80km north of the Gilberton Gold Project. The project comprises six granted tenements for 504.29 km² with ActivEX Limited holding a 100% interest in all the tenements.
The Georgetown Project is in an area that is prospective for several metals, precious and base, in addition to critical metals (Cu, Ta, Nb, Co, Sn, W, Li and Mn) over a wide range of deposit styles. The initial evaluation of the Georgetown Project was focused on critical metals and gold potential Figure 8, as evident by the numerous historical gold and silver workings. As a follow-up program to previous exploration results, geological mapping of the Digger Creek Prospect and rock chip has been completed and announced (ASX announcement “2KM Gold and Critical Mineral Trend defined at Georgetown” dated 19 June 2023).
Figure 7. ActivEX Limited Georgetown Gold Project tenements
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Figure 8. ActivEX Limited Georgetown Gold Key Target Areas showing geology and structure, mineral occurrences, Au in rock samples and coloured metallogenic target,
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
ESK COPPER AND GOLD PROJECT – Southeast Queensland
(EPMs 14937, 14079, 14476 and 16265 – ActivEX 100%)
During the Quarter ended 31st of March 2026, the company completed a debt-to-equity Conversion with Star Diamond Development Ltd, converting all outstanding loans and accrued interest under the $5 million unsecured facility into 100% equity of its wholly owned subsidiary, East Coast Gold and Copper Pty Ltd. The new owner will be advancing exploration of the course of the year following familiarisation with the project.
Background Summary and Highlights
The ESK project has several high priority porphyry copper and epithermal gold targets spread across all the tenements however as a non-core asset there has not been any significant on ground exploration for a while The Company has been re visiting the ground geophysical data (principally Induced Polarisation (IP)) and have defined several high priority chargeability targets at Booubyjan. The Company is in advanced discussions with several gold and copper explorers who are too keen to increase their copper and gold footprint in the area.
The Esk Copper and Gold Project consists of four tenements EPM 14937 (Barambah), 14079 (Coalstoun), 14476 (Booubyjan) and 16265 (Blairmore), which comprise a total of 94 sub-blocks and encompass an area of 290.8 km² (Figures 1 & 9). ActivEX Limited holds 100% interest in all tenements. The Project is located in the New England Orogen in Southeast Queensland between the towns of Gayndah and Goomeri, 215 km due northwest of Brisbane (Figure 1). The prospects are situated at the intersection of the NNW trending Perry Fault zone (host to Mt Rawdon +2Moz gold deposit) and NE trending (Darling Lineament related) structures.
The Esk Copper and Gold project is host to mineralisation with similarities to many High-K Calcalkalic to Alkalic Porphyry copper-gold deposits, near-surface supergene copper deposits, as well as potential for breccia-pipe hosted gold-copper deposits.
Recent work by Rama has delineated four untested resistive/conductive porphyry targets within the Booubyjan from the Dipole-Dipole Induced Polarisation (DDIP) surveys with RC/Core drilling being considered to test these DDIP targets.
Re-processing of the 2001 and 2006 DDIP by Rama Geoscience at Booubyjan shows that the main Booubyjan porphyry complex is defined by a central resistive core with a strongly chargeable halo corresponding to the porphyry model of a silica-rich core and an alteration halo of clays and pyrite.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX LIMITED
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
Figure 9. Esk Project showing the major projects and tenure.
2/3B Macquarie Street
Sydney, NSW 2000
(ASX: AIV)
www.activex.com.au
ACTIVEX
ACTIVITIES REPORT QUARTER ENDED 31 MARCH 2026
ARAMAC RARE EARTH ELEMENT PROJECT – Central Queensland
(EPMs 28644 EPM28645) – ActivEX 100%
The Company has commenced exploration planning across the Aramac Project for the 2H CY2026. The work will comprise grid based soil and rock sampling across both the base metal and rare earth element (REE) targets in addition to geological mapping.
Background Summary and Highlights
The Company finalised Notices of Entry (NOE’s) with all landholders that will enable surface exploration to commence 1H CY2026. The project (EPM 28644 & EPM 28645) is located 880km northwest of Brisbane. The Company plans to explore for Rare Earth Elements (“REE”) contained within the fine clay fraction of strandlines (“ionic clay style of deposit”). Within the Aramac Project the Queensland Geological Survey has delineated the Cretaceous Wallumbilla Formation as containing “strandline accumulations” a subunit of the Cretaceous to Jurassic Eromanga Basin. The Aramac Project is located within the Eromanga Basin of Central Queensland (Figure 1, 10).
The Eromanga Basin is a large Mesozoic sedimentary basin in central and northern Australia. It covers parts of Queensland, the Northern Territory, South Australia, and New South Wales. The Eromanga Basin covers 1,000,000 km². The basin comprises sandstone, siltstone, mudstone, coal and shale(clay). Within the Aramac Project, the Wallumbilla Formation (Figure 10) comprises marine grey mudstone (clay) and siltstone with minor interbeds of fine-grained glauconitic and calcareous sandstone, local thin limestone beds and heavy mineral strandline accumulations with the strandline accumulations.
During this quarter, the company received a petrological report from Mintex Petrological Solutions (MPS) relating to a sample collected from the Aramac Project. The sample is of a dark brown to black metasediment? which was considered to be locally gossanous and had elevated iron, manganese and base metal assays (ASX announcements 20 June 2024 and 21 November 2024). MPS confirmed that the sample is a “goethitic gossan with gossan clasts containing relic fine-grained quartz and chlorite”.
Petrology Result: MPS carried out a thin-section analysis of the submitted sample:
“This sample is a goethitic gossan with possible extensional tension veins filled with black massive “psilomelane” (manganese mineral). Earthy goethite clasts contain relict fine grains of quartz and chlorite and are rimmed and brecciated by paragenetically later hematite” Dr Rownea Duckworth MPS (Company Internal Report). A gossan is potentially the surface expression of deeper sulphide mineralisation as evidenced by elevate zinc and cobalt assays.
Queensland Government Round 9 Cooperative Exploration Initiative (CEI):
ActivEX has submitted a proposal for a 100m-spaced aeromagnetic and radiometric survey across the Aramac Project. If successful, the Qld government will fully fund the fixed-wing survey, with successful applicants to be notified in March 2025. This survey aims to enhance our understanding of the tectonostratigraphic framework of the project area, providing critical insights to guide future exploration (Figures 11 to 14).
Project Overview: The Aramac Project has two primary targets:
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White to Light Grey Fine-grained sediments of the Wallumbulla Formation with REE Potential: Recent field work has delineated a 15km strike of light grey to white fine-grained sediments (siltstone/shale) exposed as part of a series of roughly N-S scarps up to 12m in height that form a prominent landscape feature. A total of 67 rock samples (including 3 soil samples) were scanned along the length of the scarp where access was permitted. The sediments were near flat lying with thin vertical limonite filled fractures limonite coating. A maximum TREO analysis of 2,794ppm was obtained with 14 samples being >100ppm TREO. (ASX Announcement 21 November 2024)
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Fine-grained iron-rich sediments of the underlying Ronlow Beds with Base Metal Potential: A dark grey to black foliated (vertical) metasediment situated below the scarp is enriched in several elements especially iron (limonite) and
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locally has a structural fabric. A total of 5 rock samples were scanned with results shown below. (ASX Announcement 21 November 2024)
Zn – 424ppm to 1,000ppm
Co – 264ppm and 1,112ppm
Ba – 177ppm to 713ppm
Fe – 39.01% to 49.57%
Mn – 676ppm to 1,624ppm
Nd – 263ppm
2025/ 2026 Exploration Plans:
- Finalisation of Notices of Entry (NOEs): Preparation and submission of NOEs to enable exploration activities to commence in 2025.
- Fixed-Wing Aeromagnetic and Radiometric Survey: A comprehensive survey covering 100% of the Aramac Project area, with 100m-spaced flight lines to enhance subsurface understanding.
- Phase 1 Exploration Activities: Initial exploration to include detailed geological and regolith mapping, as well as soil sampling, aimed at refining drilling targets.
- Broad-Spaced Aircore Drilling (2026): Planned drilling traverses across the Wallumbilla Formation/Ronlow Beds contact to test for rare earth element (REE) and base metal mineralisation.
Results from the reconnaissance exploration programme are shown in Figures 9 to 13.
Figure 10. Aramac Project – Topographic base showing historic seismic lines and drillholes
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Figure 11. Aramac Project – Broad geological framework of REE and Base Metals targets
Figure 12. Aramac Project – Dunns Road surface sampling of the Base Metal and REE targets
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Figure 13. REE Target - pXRF sampling of white weathered kaolinitic fine-grained sediments adjacent to the prominent scarp as shown in Figure 12
Figure 14. Base Metal Target - Outcropping fine-grained sedimentary rock of the Ronlow Beds with cleavage steeply dipping toward NE - strike NW-SE - yellow-ochre, black & brown limonite possibly derived oxidation of sulphides at depth. The petrology sample collected at this location (GDA2020 343440mE and 7483340mN Zone 55) and shown in Figure 11.
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WESTGROVE RARE EARTH ELEMENT PROJECT – Central
Queensland
(EPM Applications 29159, 29220 and 29221 ActivEX 100 %)
Background Summary and Highlights
Following discussions with the Queensland Department of Natural Resources Mines Manufacturing and Regional Rural Development (DNMMRRD) the approval process for EPM 29159 is well advanced and we expect the grant of the licence in Q1 CY 2026. EPMs 29220 and 29221 have still to go through the Native Title advisement period however the Native Title Agreements are well advanced ahead of the advertisement period. Once granted the initial exploration program will involve geological mapping followed by shallow (<20m) vertical Aircore Drilling across the potential REE stratigraphy.
Native Title Exploration Agreements with the Wardingarri and Gungarri Aboriginal Corporations RNTBC are in the final stages of execution relating to the Warrong (EPM 29220), Maranoa (EPM 29221) and Doonkuna (29159) tenement applications bringing the total area to 820km2. Once the tenements are granted surficial exploration will commence. The project is located at the northern margin of the Cretaceous Eromanga and Surat Sedimentary Basins. (Figures 15 to 17)
Exploration Permits: In 2024, ActivEX lodged an application for an Exploration Permit for Minerals in Central Queensland.
The application has since been accepted, and the tenement has been officially named Doonkuna (EPMA 29159, Figure 15).
Project Overview: The Doonkuna Project comprises a high-priority geological target: the Westgrove Ironstone Member. This Early Triassic ferruginous sedimentary rock unit exhibits substantial potential for rare earth element (REE) mineralisation. The project's strategic emphasis on this formation highlights its significance as a key exploration opportunity within the broader context of REE resource development.
The Westgrove Ironstone Member predominantly consists of:
- Ferruginous sandstones and siltstones with high iron content, resulting from chemical precipitation and weathering processes.
- Laminated iron-rich horizons, often interbedded with claystones or mudstones.
- Hematite, goethite, and other iron oxides commonly form the primary matrix.
The Westgrove Ironstone Member, with its ferruginous nature, may have concentrated REEs through:
- Secondary enrichment during lateritic weathering in tropical to subtropical climates.
- Hydrothermal processes introducing REE-bearing fluids along fractures and faults.
- Potential REE-hosting minerals in the unit:
- Monazite (rich in light REEs such as cerium and lanthanum).
- Xenotime (rich in heavy REEs such as yttrium, dysprosium, and terbium).
- Bastnäsite or other carbonate REE minerals.
2025 Exploration Plans:
- Desktop study involving review of all historical exploration and geological/regolith studies of satellite imagery to define the target stratigraphy.
- Submission of all required documents to the relevant stakeholders regarding our proposed exploration plans.
- Field-based geological traverses across the Westgrove Ironstone Member using the Company's Niton pXRF backed up with selected samples being sent to ALS for the full REE suite of elements.
- The initial phase of exploration will be followed by detailed geological/regolith mapping and soil sampling to define drilling targets.
- Broad-spaced aircore drilling traverses across the Westgrove Ironstone Member REE targets.
- Expand our exploration footprint across the Westgrove Ironstone Member
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Figure 15 Location of the Westgrove Ironstone Member across the northern margin of the Surat and Eromanga Sedimentary Basins along with the Westgrove Project tenure
Figure 16. ActivEX Maranoa Local Geological Setting – Note the tenement application is targeting the Westgrove Ironstone Member
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Figure 17. ActivEX Maranoa Local Geological Setting – Note the tenement application is targeting the Westgrove Ironstone Member
This announcement is authorised by the Board of ActivEX Limited
For further information contact:
Mr Mark Derriman, Managing Director
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Appendix 1
Declarations under 2012 JORC Code
The information in this report which relates to Exploration Results is based on information reviewed by Mr. Mark Derriman, who is a fellow of The Australian Institute of Geoscientists (1566).
The information in this report which relates to the Mineral Resource Estimate on Gilberton Gold Project is based on a report by Mr Bob Lidbury who is a member of The Australian Institute of Geoscientists (3014).
Mr. Mark Derriman and Mr Bob Lidbury have sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activities which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
Mr. Mark Derriman and Mr Bob Lidbury consents to the inclusion of their name in this report and to the issue of this report in the form and context in which it appears.
Previous Disclosure - 2012 JORC Code
Information relating to Mineral Resources, Exploration Targets and Exploration Data associated with previous disclosures relating to ActivEX Limited’s Projects in this report has been extracted from the following ASX Announcements.
- ASX announcement titled “ActivEX secures further REE tenement in Central Queensland” 13 May 2025
- ASX announcement titled “Maiden Gold Mineral Resource Estimate” 21 July 2025
Copies of reports are available to view on the ActivEX Limited website: ‘www.activex.com.au.’ These reports were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed. The Company further confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.
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Appendix 2 LICENCES STATUS
Pursuant to ASX Listing Rule 5.4.3 the Company reports as follows in relation to minerals tenements held at the end of the 31 March 2026 quarter with the sale of the East Coast Gold Copper tenements EPMs 14937, 14476, 16265 and 14079
| List of Exploration/Mining Tenements held by ActivEX Limited at 31 March 2026 ACTIVEX LIMITED | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project Name | Tenement Name | EPM(a) | Status | Granted | Expires | Holder | Details | Interest at start of quarter | Interest at end of quarter | Sub-blocks at start of quarter | Sub-blocks at end of quarter | Area_km2 | |
| Southeast Queensland | |||||||||||||
| E&K Gold and Copper | Barambah | 14937 | Granted | 14-Mar-05 | 13-Mar-27 | East Coast Copper & Gold | East Coast Copper Gold 100% (to 10 March 26) | 100% | 100% | 9 | 9 | 27.84 | |
| Booubyjan | 14476 | Granted | 08-Jun-04 | 07-Jun-27 | East Coast Copper & Gold | 100% | 100% | 15 | 15 | 46.34 | |||
| Blairmore | 16265 | Granted | 04-Sep-07 | 03-Sep-27 | East Coast Copper & Gold | 100% | 100% | 24 | 24 | 74.23 | |||
| Coalstoun | 14079 | Granted | 23-Oct-03 | 22-Oct-26 | East Coast Copper & Gold | 100% | 100% | 46 | 23 | 72.27 | |||
| North Queensland | |||||||||||||
| Gilberton Gold | Mt Hogan | 18615 | Granted | 19-Jun-13 | 18-Jun-28 | Gilberton Gold P/L | JV with Gilberton Gold 24.5% | 35% | 24.5% | 54 | 54 | 175.30 | |
| Gilberton | 18623 | Granted | 08-Apr-14 | 07-Apr-29 | Gilberton Gold P/L | 35% | 24.5% | 29 | 29 | 94.02 | |||
| Gum Flat | 26232 | Granted | 02-Feb-17 | 01-Feb-27 | Gilberton Gold P/L | 35% | 24.5% | 17 | 17 | 55.17 | |||
| Split Rock | 26307 | Granted | 06-Mar-17 | 05-Mar-27 | Gilberton Gold P/L | 35% | 24.5% | 14 | 14 | 45.41 | |||
| Georgetown Gold and Critical Metals | Cleanskin Creek | 27805 | Granted | 26-Aug-21 | 25-Aug-26 | Au Sino Gold | Au Sino Gold 100% | 100% | 100% | 31 | 31 | 101.00 | |
| Leichardt Creek | 27811 | Granted | 30-Sep-21 | 29-Sep-26 | Au Sino Gold | 100% | 100% | 10 | 10 | 32.60 | |||
| Forsayth | 27812 | Granted | 26-Aug-21 | 25-Aug-26 | Au Sino Gold | 100% | 100% | 5 | 5 | 16.28 | |||
| Nelson | 28120 | Granted | 09-May-23 | 08-May-28 | Au Sino Gold | 100% | 100% | 2 | 2 | 6.51 | |||
| Stockman | 28277 | Granted | 05-May-23 | 04-May-28 | Au Sino Gold | 100% | 100% | 7 | 7 | 22.80 | |||
| Bridle Track | 28417 | Granted | 24-Aug-23 | 23-Aug-28 | Au Sino Gold | 100% | 100% | 100 | 100 | 325.10 | |||
| Central Queensland | |||||||||||||
| Aramac REE | Fortuna | 28644 | Granted | 23-May-24 | 22-May-29 | ActivEX Limited | 100% | 100% | 100 | 100 | 314.20 | ||
| Ivy Leaf | 28645 | Granted | 08-Oct-24 | 7-Oct-29 | ActivEX Limited | 100% | 100% | 100 | 100 | 314.20 | |||
| Westgrove REE | Doonkuna | 29159 | Application | N/A | N/A | ActivEX Limited | 100% | 100% | 0 | 0 | 0.00 | ||
| Warrong | 29220 | Application | N/A | N/A | ActivEX Limited | 100% | 100% | 0 | 0 | 0.00 | |||
| Maranoa | 29221 | Application | N/A | N/A | ActivEX Limited | 100% | 100% | 0 | 0 | 0.00 | |||
| Total | 563 | 540 | 1723.27 |
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