AERIS RESOURCES LIMITED — Capital/Financing Update 2025

Dec 14, 2025

ASX/MEDIA RELEASE

15 DECEMBER 2025

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TRITTON OPERATION DRILLING UPDATE

AVOCA TANK

• High-grade copper intersections extend mineralisation both updip and down-dip beyond the current Mineral Resource[1]

• ATGC311 9.40m[2] @ 8.87% Cu, 1.15g/t Au, 38.1g/t Ag

• ATGC245 10.30m[2] @ 6.20% Cu, 1.39g/t Au, 19.4g/t Ag

• ATEL111 9.55m[2] @ 5.18% Cu, 0.50g/t Au, 10.0g/t Ag

• ATGC335 6.70m[2] @ 4.48% Cu, 0.71g/t Au, 12.3g/t Ag

• ATGC218 20.55m[2] @ 3.69% Cu, 1.30g/t Au, 16.9g/t Ag

• ATGC278 13.0m[2] @ 3.41% Cu, 0.94g/t Au, 13.8g/t Ag

• High-grade copper discovered outside the interpreted mineralised corridor and may represent a new mineralised trend

• ATEL128 22.2m[2] @ 3.23% Cu, 0.08g/t Au, 3.8g/t Ag

• o ATEL127 9.4m[2] @ 1.65% Cu, 0.63g/t Au, 8.0g/t Ag

BUDGERYGAR

• Budgerygar resource definition drilling intersected thicker than expected mineralisation within the current Inferred Mineral Resource

• BDGC155 22.80m[3] @ 2.40% Cu, 0.10g/t Au, 5.3g/t Ag

• o BDGC156 21.65m[3] @ 1.80% Cu, 0.03g/t Au, 2.8g/t Ag

1 Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22 July 2025 2 Estimated true thickness is between 35% to 100% of the reported thickness interval.

3 Estimated true thickness is between 50% to 100% of the reported thickness interval.

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Established Australian copper-gold producer and explorer , Aeris Resources Limited (ASX: AIS) (Aeris or the Company), is pleased to provide an update on underground drill programs at the Tritton Operation, located in central New South Wales.

Aeris’ Executive Chairman, Andre Labuschagne, said “these drill results are very exciting. The drilling demonstrates that high-grade mineralisation extends at Avoca Tank, potentially increasing the mineable inventory at the deposit. While early stage, the intersections along strike from Avoca Tank may represent a completely new mineralised trend that we will follow up with further drilling. At Budgerygar, resource definition drilling is returning thicker intersections than planned, potentially improving the mineable inventory at this deposit as well. Two drill rigs are now testing down dip extensions at Budgerygar, with the results expected in the coming quarter.”

– Tritton Operation Underground Drill Strategy

Aeris currently has four underground drill rigs operating at the Tritton Operation, targeting extensions to and repetitions of the known Avoca Tank and Budgerygar deposits, which represent important sources of ore in the short to medium term. Current mine plans do not account for exploration success from this drilling; however, any additional mineralisation identified would be located near existing underground infrastructure and could provide near-mine growth opportunities.

Avoca Tank Diamond Drill Program – Technical Discussion

Background

The Avoca Tank mineralised system is less predictable than other deposits at the Tritton Operation. Eight sulphide lenses have been discovered to date, all of which have undergone significant deformation. Sulphide lens geometries vary markedly, with irregular pinching and swelling and significant changes in strike orientations. These factors increase the complexity of defining mineralisation at Avoca Tank.

The primary focus of drilling at Avoca Tank during FY26 has been to define additional mineralisation down dip of the reported Mineral Resource[4] . Drilling has also targeted smaller extensions up dip above the Mineral Resource.

Drill Results Below Reported Mineral Resource

Drilling below the reported Mineral Resource is targeting high-grade copper extensions within the known mineralised corridor (refer to Figure 1). As reported previously[5] several exploration drill holes intersected copper mineralisation 250 to 450 metres down dip from the base of the reported Mineral Resource.

The current phase of drilling is centred on resource definition drilling targeting mineralisation within 100 metres below the reported Mineral Resource. Drilling is being completed on a nominal 40 m x 40 m spacing, appropriate for conversion to an Inferred Mineral Resource.

4 Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22 July 2025. 5 Refer to ASX announcement “Quarterly activities report – Sept 2025” dated 22 October 2025

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Drill results received to date are encouraging, with multiple high-grade copper assay results, including:

• ATGC245 10.30m[6] @ 6.20% Cu, 1.39g/t Au, 19.4g/t Ag (from 133.4m)

• ATGC242 3.10m[6] @ 6.13% Cu, 0.30g/t Au, 7.5g/t Ag (from 179.5m)

• ATEL111 9.55m[6] @ 5.18% Cu, 0.50g/t Au, 10.0g/t Ag (from 127.9m)

• ATGC355 6.70m[6] @ 4.48% Cu, 0.71g/t Au, 12.3g/t Ag (from 103.8m)

• ATGC218 20.55m[6] @ 3.69% Cu, 1.30g/t Au, 16.9g/t Ag (from 94.8m)

Geological interpretation is progressing in parallel, focused on resolving the number of high-grade copper lenses and assessing the extent and continuity of each lens. The interpretation will be refined as further drilling, geological information and assay results become available.

Potential New Mineralised Trend

The down dip drilling has also identified a promising new area of copper mineralisation 50 to 100 metres along strike outside the interpreted mineralised corridor (refer to Figure 1). Two drill holes have tested this target to date, both reporting high-grade copper intersections, including:

• ATEL128 22.2m[7] @ 3.23% Cu, 0.08g/t Au, 3.8g/t Ag (from 296.8m)

• ATEL127 9.4m[7] @ 1.65% Cu, 0.63g/t Au, 8.0g/t Ag (from 253.3m) including

• 2.7m[7] @ 2.57% Cu, 1.17g/t Au, 10.7g/t Ag (from 260.0m)

Follow-up drilling will commence in January to test the extent of this new sulphide lode and assess whether it represents a meaningful new mineralised trend at the Avoca Tank deposit.

Drill Results Above Reported Mineral Resource

Drilling above the reported Mineral Resource targeted extensions to the known sulphide lodes (refer to Figure 2). Numerous high-grade copper intersections have been returned, extending mineralisation by approximately 50 metres beyond the reported Mineral Resource. These drill results have been incorporated into an updated grade control model for economic assessment and consideration for inclusion in a future Ore Reserve update, as well as for operational planning to extend high-grade ore production from Avoca Tank.

• ATGC311 9.4m[7] @ 8.87% Cu, 1.15g/t Au, 38.1g/t Ag (from 63.5m)

• ATGC278 13.0m[7] @ 3.41% Cu, 0.94g/t Au, 13.8g/t Ag (from 49.2m)

• ATGC290 7.9m[7] @ 3.17% Cu, 0.45g/t Au, 15.4g/t Ag (from 95.8m)  ATGC315 8.3m[7] @ 2.68% Cu, 0.70g/t Au, 11.3g/t Ag (from 40.0m)

6 Estimated true thickness is between 35% to 100% of the reported thickness interval. 7 Estimated true thickness is between 35% to 100% of the reported thickness interval.

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Figure 1 – Long section view looking south east at the Avoca Tank deposit showing the FY26 drill coverage down dip beneath the current reported Mineral Resource.

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Figure 2 – Cross section view looking south west at the Avoca Tank deposit showing the FY26 drill coverage up dip above the current reported Mineral Resource.

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West
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Budgerygar Diamond Drill Program – Technical Discussion

At the Budgerygar deposit, drilling has focused on resource definition drilling with the aim of upgrading the current Inferred Mineral Resource to an Indicated classification. Assay results have been received from drill holes targeting mineralisation up to 60m below the base of the Indicated Mineral Resource (4,680mRL level). Mineralised intersections returned from the drill program have reported significantly thicker copper sulphide intersections (refer to Figure 3), including:

• BDEL089 24.0m[8] @ 1.76% Cu, 0.03g/t Au, 3.1g/t Ag (from 108.0m)

• BDGC155 22.80m[8] @ 2.40% Cu, 0.10g/t Au, 5.3g/t Ag (from 93.0m)

• BDGC156 21.65m[8] @ 1.80% Cu, 0.03g/t Au, 2.8g/t Ag (from 88.65m)  BDGC135 16.60m[8] @ 1.52% Cu, 0.04g/t Au, 3.1g/t Ag (from 107.2m)

Two underground drill rigs will continue operating at Budgerygar, drilling down dip, completing a combination of resource definition and exploration drilling targeting extensions below the base of Inferred (below the 4,700m RL level).

Figure 3 – Cross section view looking east at the Budgerygar deposit showing copper intersections reported from the current drill program compared to previously modelled sulphide lodes. Note the increased thickness below the base of Indicated.

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8 Estimated true thickness is between 50% to 100% of the reported thickness interval.

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Next Steps

A fourth underground rig was commissioned at the start of December, increasing drill capacity across the Tritton Operation.

At the Avoca Tank deposit, two drill rigs will prioritise follow-up drilling at the newly identified mineralised trend intersected in drill holes ATEL127 and ATEL128, while also advancing drilling directly below the current Mineral Resource.

At the Budgerygar deposit, two drill rigs will continue to focus on exploration and resource definition programs, targeting extensions to the known mineralisation and upgrading confidence in the current Mineral Resource.

Elsewhere across the operation, drilling is also scheduled at the Tritton and South Wing deposits, targeting Mineral Resource growth and upgrading Mineral Resource confidence.

This announcement is authorised for lodgement by:

Andre Labuschagne Executive Chairman

ENDS

For further information, please contact:

Andre Labuschagne Stefan Edelman Executive Chairman General Manager – Corporate Development Tel: +61 7 3034 6200 investorrelations@aerisresources.com.au

or visit our website at www.aerisresources.com.au

About Aeris

Aeris Resources is a mid-tier base and precious metals producer. Its copper dominant portfolio comprises two operating assets, a mine on care and maintenance, a long-life development project and a highly prospective exploration portfolio. Aeris has a strong pipeline of organic growth projects and an aggressive exploration program and continues to investigate strategic merger and acquisition opportunities. The Company’s experienced board and management team bring significant corporate and technical expertise to a lean operating model. Aeris is committed to building strong partnerships with its key community, investment and workforce stakeholders.

Previous Information

The information in this announcement that relates to previously reported exploration results for the Avoca Tank and Budgerygar deposits is extracted from ASX announcements all of which are referenced in the footnotes and available on the company’s website at www.aerisresources.com.au. The company confirms that it is not aware of any new information or data that materially affects the exploration results included in the relevant original market announcements. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the relevant original market announcements.

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Competent Persons Statement – Exploration Results

The information in this report that relates to Exploration Targets or Exploration Results at the Tritton Operation is based on information compiled by Osvaldo Gonzalez. Mr Gonzalez confirms that he is the Competent Person for all Exploration Results, summarised in this Report, and he has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Targets, Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Gonzalez is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style of mineralisation and type of deposit described in the Report and to the activity for which he is accepting responsibility. Mr Gonzalez has reviewed the Report to which this Consent Statement applies and consents to the inclusion in the Report of the matters based on his information in the form and context in which it appears. Mr Gonzalez is a full-time employee of Aeris Resources Limited.

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APPENDIX A:

Table 1 – Summary of drill hole collar and survey details for drill holes referenced in the body of this report as part of the Avoca Tank exploration and resource definition drill programs.

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Hole ID Easting [1 ] (m) Northing [1] (m) RL (m) Total Depth (m) Azimuth [2] Dip
ATEL021 17654.20 25652.39 4884.59 276.0 76.5 -22.7
ATEL022 17654.26 25652.24 4884.45 260.0 79.0 -26.2
ATEL081 17689.89 25704.88 4821.37 143.8 24.5 -47.0
ATEL083 17689.89 25704.88 4821.37 659.8 73.5 -66.5
ATEL084 17689.89 25704.88 4821.37 216.9 57.7 -48.7
ATEL085 17689.89 25704.88 4821.37 260.7 73.0 -57.6
ATEL087 17689.89 25704.88 4821.37 255.0 74.5 -32.4
ATEL088 17689.89 25704.88 4821.37 191.8 87.0 -43.8
ATEL089 17689.89 25704.88 4821.37 329.6 110.0 -51.1
ATEL090 17726.12 25546.18 4811.33 557.6 73.5 -67.3
ATEL091 17714.37 25546.01 4813.62 378.0 173.0 7.73
ATEL092 17747.97 25538.17 4812.42 433.6 33.5 -57.8
ATEL101 17644.94 25666.55 5083.33 74.8 272.8 17.0
ATEL102 17645.20 25666.52 5082.02 72.1 272.3 -10.9
ATEL103 17645.13 25666.20 5082.61 69.0 264.4 4.7
ATEL104 17645.34 25666.19 5081.72 132.1 263.6 -26.0
ATEL105 17645.04 25665.91 5083.47 80.2 257.3 20.0
ATEL106 17645.49 25665.97 5082.09 132.3 256.3 -11.0
ATEL107 17645.43 25665.65 5082.65 91.3 248.3 5.6
ATEL108 17645.56 25665.63 5081.61 132.1 246.0 -25.6
ATEL109 17645.47 25665.24 5081.99 130.1 238.2 -11.0
ATEL110 17645.90 25665.06 5081.69 90.2 227.6 -23.8
ATEL111 17777.31 25585.41 4771.61 245.6 24.7 -38.5
ATEL112 17777.52 25585.28 4771.48 242.6 30.3 -42.0
ATEL113 17774.61 25585.27 4772.39 225.0 31.5 -37.0
ATEL127 17747.97 25538.17 4812.42 350.6 60.0 -44.9
ATEL128 17747.97 25538.17 4812.42 351.6 70.0 -48.0
ATEL129 17747.97 25538.17 4812.42 273.0 61.0 -51.0
ATGC178A 17788.17 25607.62 4893.89 239.9 64.0 -56.1
ATGC180 17788.32 25608.00 4893.99 240.1 56.5 -60.6
ATGC197 17659.91 25671.62 5034.82 116.5 71.9 21.0
ATGC198 17659.92 25671.59 5034.15 104.3 71.7 7.1
ATGC201 17659.33 25672.60 5035.40 62.3 36.8 29.7
ATGC210 17658.96 25672.68 5034.07 59.8 26.6 5.9
ATGC214 17659.64 25672.01 5034.67 116.0 57.1 19.4
ATGC218 17690.71 25672.89 4818.83 188.9 85.8 -19.2
ATGC240 17701.20 25576.90 4811.9 201.1 56.6 -10.6
ATGC241 17701.20 25576.90 4811.9 210.1 60.3 -18.9
ATGC242 17701.20 25576.90 4811.9 207.1 51.5 -19.6
ATGC243 17701.20 25576.90 4811.9 225.1 53.4 -28.3
ATGC245 17700.73 25577.93 4811.78 185.7 32.0 -19.1
ATGC246 17700.73 25577.93 4811.78 180.0 32.0 -23.2
ATGC259 17726.66 25605.72 5048.24 107.6 33.6 16.9
ATGC264 17726.83 25605.15 5047.89 96.0 46.6 11.8
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Hole ID Easting [1 ] (m) Northing [1] (m) RL (m) Total Depth (m) Azimuth [2] Dip
ATGC269 17689.89 25704.88 4821.37 98.8 97.0 -37.9
ATGC271 17689.89 25704.88 4821.37 108.0 92.9 -26.0
ATGC278 17663.76 25671.74 5060.75 125.5 81.0 25.1
ATGC279 17663.71 25671.95 5059.97 129.0 75.6 11.8
ATGC290 17663.30 25672.42 5060.37 120.0 60.0 21.4
ATGC295 17662.92 25672.95 5060.34 114.6 42.5 20.4
ATGC296 17663.05 25672.70 5059.74 127.4 49.5 8.7
ATGC301 17663.11 25672.66 5060.60 121.1 51.0 25.6
ATGC303 17660.04 25669.30 5083.23 128.3 93.8 21.8
ATGC308 17659.99 25669.76 5083.69 119.7 82.0 29.7
ATGC311 17664.80 25677.57 5083.74 128.8 74.0 22.6
ATGC313 17664.60 25677.95 5084.02 125.3 66.5 32.9
ATGC315 17664.68 25678.19 5083.73 131.3 61.5 20.5
ATGC321 17664.35 25678.73 5084.17 125.2 44.5 29.1
ATGC323 17747.97 25538.17 4812.42 266.8 21.7 -47.4
ATGC333 17777.13 25585.42 4771.76 149.4 11.5 -34.9
ATGC335 17777.03 25585.35 4772.23 150.0 18.0 -21.2
ATGC348 17778.08 25585.19 4771.59 176.6 41.5 -32.9
ATGC349 17776.02 25585.47 4772.21 116.6 341.6 -21.8
ATGC352 17776.34 25585.48 4772.30 119.7 358.6 -13.9
ATGC354 17774.60 25585.28 4772.42 110.7 0.9 -27.9
ATGC355 17774.60 25585.28 4772.42 128.8 15.8 -6.7
ATGC362 17684.14 25587.31 5093.43 134.5 49.4 6.3
ATGC368 17684.31 25587.19 5093.20 152.5 55.1 0.8
NGTPA06 17744.40 25698.80 5205.65 86.0 270.0 -60.0
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1 Easting and northing coordinates are reported in mine grid.

2 Azimuth is recorded as a magnetic azimuth reading.

Table 2 – Summary of drill hole collar and survey details for drill holes referenced in the body of this report as part of the Budgerygar exploration and resource definition drill programs.

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Hole ID Easting [1 ] (m) Northing [1] (m) RL (m) Total Depth (m) Azimuth Dip
BDEL088 30679.18 20122.65 4937.63 251.8 358.7 -49.1
BDEL089 30678.26 20121.97 4937.51 275.0 322.8 -66.0
BDEL090 30677.94 20121.23 4937.65 276.0 298.4 -70.1
BDEL092 30670.14 20109.14 4938.72 165.0 266.9 -18.5
BDEL094 30671.35 20108.41 4937.69 192.0 246.3 -66.2
BDEL095 30671.05 20108.05 4937.93 255.0 238.6 -48.2
BDGC105 30676.62 20120.88 4938.89 212.8 290.9 -25.4
BDGC106 30676.77 20121.28 4938.79 218.9 300.8 -25.6
BDGC107 30676.83 20121.69 4938.94 203.5 309.6 -18.6
BDGC108 30676.86 20121.59 4938.77 206.4 306.9 -26.7
BDGC108A 30676.92 20121.68 4938.77 65.9 310.0 -25.8
BDGC109 30676.99 20122.01 4938.82 212.6 317.3 -19.3
BDGC110 30676.38 20120.53 4938.89 137.9 276.5 -20.2
BDGC111 30676.52 20121.01 4939.10 128.8 287.3 -12.8
BDGC112 30677.15 20122.62 4938.94 143.5 329.7 -12.9
BDGC113 30677.21 20122.48 4938.78 140.5 329.1 -17.9
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Hole ID Easting [1 ] (m) Northing [1] (m) RL (m) Total Depth (m) Azimuth Dip
BDGC114 30677.31 20122.64 4938.78 146.5 333.6 -19.0
BDGC115 30677.49 20123.09 4938.61 163.7 340.4 -17.3
BDGC116 30676.78 20121.47 4938.88 62.8 303.0 -20.7
BDGC116A 30676.83 20121.41 4938.76 218.6 303.6 -22.8
BDGC117 30677.81 20123.62 4938.39 179.0 346.5 -25.3
BDGC118 30677.46 20122.39 4938.44 137.4 332.0 -34.6
BDGC119 30677.39 20122.40 4938.56 137.5 329.9 -28.5
BDGC120 30677.12 20122.12 4938.78 218.3 323.1 -22.3
BDGC121 30677.07 20121.92 4938.65 209.2 318.5 -28.2
BDGC122 30676.96 20121.76 4938.77 206.5 312.0 -25.1
BDGC123 30676.96 20121.64 4938.65 203.7 309.0 -30.5
BDGC124 30676.75 20121.25 4938.69 218.7 297.9 -32.2
BDGC125 30676.69 20121.24 4938.88 212.6 297.5 -21.8
BDGC126 30676.56 20120.5 4938.70 137.2 276.0 -29.8
BDGC127 30676.62 20121.07 4938.93 227.7 291.0 -18.6
BDGC128 30676.67 20121.00 4938.72 215.4 287.0 -24.0
BDGC129 30676.54 20120.72 4939.20 119.7 282.0 -7.2
BDGC130 30677.27 20121.97 4938.22 203.6 326.0 -40.3
BDGC131 30677.21 20122.15 4938.43 206.5 324.2 -34.1
BDGC132 30677.30 20122.14 4938.21 149.1 339.0 -28.3
BDGC133 30676.94 20121.41 4938.45 128.7 312.0 -40.9
BDGC134 30677.38 20122.13 4937.78 152.0 336.0 -47.2
BDGC135 30677.53 20122.54 4937.75 143.4 329.0 -53.2
BDGC136 30676.68 20120.76 4938.56 215.2 284.5 -37.2
BDGC137 30676.73 20120.75 4938.48 212.6 283.0 -43.4
BDGC138 30676.83 20121.19 4938.47 119.8 297.1 -42.7
BDGC139 30676.68 20121.10 4938.82 212.7 291.0 -28.3
BDGC140 30676.34 20120.25 4938.76 140.9 268.5 -26.0
BDGC141 30676.50 20120.29 4938.45 127.0 268.4 -39.8
BDGC142 30676.10 20119.44 4938.51 224.5 250.5 -28.0
BDGC144 30676.13 20118.95 4938.17 242.6 240.5 -34.7
BDGC146 30676.26 20119.41 4938.27 221.7 248.0 -34.6
BDGC147 30676.23 20119.10 4938.11 224.6 242.0 -38.8
BDGC148 30676.34 20119.28 4938.12 202.1 251.5 -39.2
BDGC149 30676.36 20119.30 4937.91 173.6 245.0 -43.4
BDGC150 30676.49 20119.81 4938.16 140.6 256.0 -44.2
BDGC151 30676.42 20119.47 4937.85 152.5 248.0 -48.4
BDGC152 30676.57 20119.67 4937.77 131.7 270.0 -50.2
BDGC153 30676.66 20120.33 4938.23 149.5 253.0 -55.4
BDGC154 30676.85 20120.75 4938.34 122.4 284.0 -51.4
BDGC155 30676.80 20120.33 4937.97 149.6 270.0 -61.9
BDGC156 30677.19 20121.86 4938.06 131.6 317.9 -51.2
BDGC157 30677.56 20120.98 4937.67 140.5 294.5 -62.8
BDGC158 30677.24 20121.51 4937.94 134.5 314.5 -61.0
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1 Easting and northing coordinates are reported in mine grid.

2 Azimuth is recorded as a magnetic azimuth reading.

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Table 3 – Summary of significant copper intersections returned during the Avoca Tank exploration and resource definition drill programs.

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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
181.00 191.00 10.0 3.26 0.22 5.1
ATEL021
201.00 202.00 1.0 0.75 0.54 13.0
164.65 165.95 1.3 3.52 1.42 19.5
ATEL022 173.00 174.00 1.0 1.07 0.92 77.0
184.80 193.00 8.2 2.08 0.93 2.3
ATEL081 No significant assay result
66.80 68.00 1.2 0.83 0.16 6.2
206.00 210.00 4.0 0.82 0.58 2.1
335.80 363.00 27.2 1.29 0.6 11.5
372.00 375.00 3.0 0.98 0.26 6.5
ATEL083
395.00 396.70 1.7 0.94 0.32 9.1
414.70 422.00 7.3 0.91 0.25 4.0
428.00 433.40 5.4 0.85 0.47 6.2
604.80 608.20 3.4 3.32 0.60 8.5
ATEL084 No significant assay result
32.00 33.00 1.0 0.67 0.24 5.0
ATEL085
36.00 44.00 8.0 0.62 3.15 15.7
ATEL087 No significant assay result
ATEL088 No significant assay result
68.45 70.00 1.6 0.61 0.70 16.8
99.00 100.00 1.0 0.59 0.21 6.5
ATEL089 125.50 127.70 2.2 1.00 1.65 13.4
132.00 137.00 5.0 0.65 1.19 7.6
320.00 321.00 1.0 0.61 0.02 1.7
444.00 445.00 1.0 0.77 0.01 1.0
ATEL090
455.10 456.20 1.1 0.88 0.03 1.6
ATEL091 No significant assay result
341.20 342.90 1.7 1.65 0.61 15.7
ATEL092
357.00 385.00 28.0 1.18 0.75 10.2
ATEL101 No significant assay result
ATEL102 No significant assay result
ATEL103 No significant assay result
ATEL104 No significant assay result
ATEL105 No significant assay result
ATEL106 No significant assay result
78.00 79.00 1.0 0.70 0.01 0.5
ATEL107
82.00 83.00 1.0 0.72 0.01 0.5
ATEL108 No significant assay result
ATEL109 No significant assay result
56.00 59.00 3.0 1.76 0.06 1.3
ATEL110 73.00 75.00 2.0 0.65 0.01 1.0
82.00 83.00 1.0 0.65 0.03 1.0
77.70 80.60 2.9 1.51 0.63 11.0
ATEL111
102.50 109.90 7.4 3.45 0.81 12.8
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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
115.20 116.75 1.6 6.57 1.70 10.0
127.90 137.45 9.5 5.18 0.50 10.0
137.45 139.00 1.6 1.85 0.36 3.9
143.00 146.10 3.1 1.53 0.24 3.5
ATEL112 151.00 155.00 4.0 1.27 0.19 6.5
191.00 194.00 3.0 0.94 0.12 11.7
226.00 228.00 2.0 0.58 0.04 1.5
132.70 136.80 4.1 1.49 0.12 3.2
ATEL113
152.00 153.00 1.0 1.57 0.29 10.0
253.30 262.70 9.4 1.65 0.63 8.0
ATEL127
283.10 284.30 1.2 0.50 0.11 2.0
ATEL128 296.80 319.00 22.2 3.23 0.08 3.8
ATEL129 No significant assay result
ATGC178A No significant assay result
ATGC180 200.40 202.30 1.9 2.10 0.18 5.0
74.95 79.15 4.2 1.92 0.76 12.3
ATGC197 82.45 84.40 2.0 10.53 1.87 50.0
110.10 111.65 1.6 0.75 4.92 34.5
ATGC198 75.40 77.85 2.4 1.66 1.53 19.3
ATGC201 52.10 53.80 1.7 0.66 0.10 2.9
ATGC210 49.55 54.45 4.9 1.97 0.27 9.0
59.10 62.15 3.1 4.68 1.12 17.0
ATGC214
103.05 105.55 2.5 4.74 0.83 23.6
16.20 18.20 2.0 0.79 0.04 0.8
ATGC218 94.80 115.35 20.6 3.69 1.30 16.9
130.90 140.40 9.5 2.42 0.15 6.6
ATGC240 162.60 167.30 4.7 2.06 0.11 3.9
ATGC241 193.70 199.00 5.3 1.12 0.14 6.1
159.70 162.30 2.6 3.74 0.19 4.4
ATGC242 167.30 171.80 4.5 3.08 0.14 5.2
179.50 182.60 3.1 6.13 0.30 7.5
167.00 168.00 1.0 0.61 0.03 2.0
ATGC243
207.30 208.40 1.1 2.03 0.10 3.3
ATGC245 133.40 143.70 10.3 6.20 1.39 19.4
ATGC246 131.55 133.75 2.2 0.87 0.46 5.4
ATGC259 85.65 89.65 4.0 1.15 0.49 15.3
ATGC264 No significant assay result
47.10 55.30 8.2 1.43 2.65 13.9
ATGC269
65.00 72.00 7.0 0.84 0.52 7.3
76.45 77.65 1.2 0.92 0.30 5.0
ATGC271
81.60 85.80 4.2 1.41 0.75 6.6
49.20 62.20 13.0 3.41 0.94 13.8
65.90 73.00 7.1 2.27 0.63 10.4
ATGC278 74.00 75.00 1.0 3.60 0.23 11.0
93.00 96.00 3.0 0.95 2.68 18.3
100.40 101.60 1.2 2.12 1.47 25.0
ATGC279 62.60 64.00 1.4 2.16 0.83 11.5
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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
91.00 92.10 1.1 2.13 0.85 20.8
98.80 100.00 1.2 0.85 0.75 8.5
109.00 113.00 4.0 0.76 0.13 4.9
47.25 50.45 3.2 3.10 0.75 11.9
66.00 70.10 4.1 7.30 1.03 27.4
ATGC290 88.40 89.50 1.1 1.26 0.19 7.0
92.90 95.30 2.4 3.70 1.62 14.0
95.80 103.70 7.9 3.17 0.45 15.4
ATGC295 No significant assay result
ATGC296 38.55 49.50 11.0 2.50 0.53 10.5
40.40 51.00 10.6 1.48 1.14 11.7
ATGC301
75.90 77.40 1.5 6.47 0.48 22.2
ATGC303 No significant assay result
ATGC308 No significant assay result
49.70 56.30 6.6 0.69 0.38 4.2
ATGC311 63.50 72.90 9.4 8.87 1.15 38.1
76.00 81.00 5.0 3.48 0.58 15.9
51.40 52.70 1.3 2.53 0.80 9.6
ATGC313
62.50 70.00 7.5 5.00 0.60 18.5
40.00 48.30 8.3 2.68 0.70 11.3
ATGC315 59.20 61.00 1.8 2.69 0.34 10.0
100.00 105.00 5.0 0.65 0.37 6.4
ATGC321 38.00 40.00 2.0 1.12 0.36 7.9
ATGC323 No significant assay result
ATGC333 86.30 89.15 2.9 2.02 0.41 9.3
79.10 85.35 6.3 1.97 0.55 10.9
ATGC335
91.70 96.30 4.6 3.64 0.83 11.2
ATGC348 No significant assay result
91.00 92.00 1.0 0.59 0.33 2.0
ATGC349
98.00 99.00 1.0 0.94 0.19 5.0
ATGC352 87.60 93.40 5.8 1.45 0.91 6.6
ATGC354 87.90 91.10 3.2 2.50 0.73 15.5
103.80 110.50 6.7 4.48 0.71 12.3
ATGC355
119.10 120.20 1.1 1.29 0.39 2.5
ATGC362 122.80 125.20 2.4 1.37 0.79 15.8
ATGC368 No significant assay result
NGTPA06 64.00 74.00 10 1.43 - -
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1 Drill hole true width lengths are between 35% to 100% of reported interval lengths.

2 Assay intervals have been reported at a 0.5% Cu cut-off grade with a maximum internal dilution of 3.0m.

Page | 14

Table 4 – Summary of significant copper intersections returned during the Budgerygar resource definition drill program.

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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
BDEL088 No significant assay result
108.00 132.00 24.0 1.76 0.03 3.1
BDEL089 177.00 178.00 1.0 0.65 0.16 3.0
211.40 213.80 2.4 3.13 0.5 30.5
98.00 102.00 4.0 0.73 0.03 1.9
106.00 128.30 22.3 1.33 0.04 2.1
BDEL090
138.00 142.00 4.0 1.25 0.07 3.5
213.20 225.00 11.8 1.55 0.1 3.5
BDEL092 150.40 158.00 7.6 0.66 0.02 0.9
117.20 118.00 0.8 1.72 0.12 2.0
BDEL094 124.15 125.30 1.1 0.89 0.06 1.0
130.75 141.40 10.7 1.77 0.07 2.7
135.70 155.00 19.3 1.28 0.05 1.1
BDEL095 160.00 161.00 1.0 0.55 0.04 0.5
169.00 170.00 1.0 0.53 0.01 1.0
87.20 96.40 9.2 1.74 0.09 3.1
112.90 113.90 1.0 0.86 0.08 2.0
BDGC105
117.35 119.55 2.2 1.10 0.06 2.6
191.30 193.35 2.0 1.04 0.03 1.0
86.20 100.90 14.7 1.01 0.06 2.1
117.00 124.15 7.2 0.74 0.08 2.0
BDGC106
186.10 191.90 5.8 1.02 0.12 1.6
204.70 207.90 3.2 1.12 0.08 1.3
88.45 98.90 10.5 1.50 0.04 2.8
BDGC107
194.70 200.50 5.8 3.58 0.58 24.2
89.10 100.50 11.4 1.44 0.07 2.3
103.60 104.80 1.2 3.30 0.28 7.0
BDGC108
126.50 127.20 0.7 1.32 0.14 7.0
182.60 185.20 2.6 2.46 0.14 6.2
BDGC108A No significant assay result
92.60 106.00 13.4 1.58 0.04 2.3
BDGC109 109.20 115.20 6.0 1.84 0.7 14.4
197.20 202.60 5.4 2.20 0.4 28.0
BDGC110 119.90 122.00 2.1 1.08 0.07 3.0
90.40 95.80 5.4 3.65 0.22 8.4
BDGC111
105.20 108.90 3.7 2.16 0.11 2.7
BDGC112 120.50 132.10 11.6 0.64 0.04 1.3
119.00 122.00 3.0 0.61 0.02 1.5
BDGC113
126.00 128.00 2.0 0.55 0.05 1.0
BDGC114 129.00 135.00 6.0 0.63 0.03 1.0
BDGC115 No significant assay result
BDGC116 No significant assay result
86.60 101.20 14.6 0.98 0.06 2.2
BDGC116A 117.15 123.00 5.8 0.97 0.1 4.2
185.20 198.90 13.7 1.47 0.13 4.0
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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
BDGC117 No significant assay result
BDGC118 113.85 125.00 11.2 0.59 0.05 1.2
102.60 114.60 12.0 0.81 0.02 2.1
BDGC119
119.00 123.00 4.0 0.98 0.06 2.3
BDGC120 94.45 116.20 21.8 1.44 0.06 2.6
95.00 108.00 13.0 1.55 0.03 2.8
111.55 113.15 1.6 3.67 1.22 33.0
BDGC121
186.45 188.80 2.4 1.53 1.41 48.1
190.80 192.30 1.5 1.18 0.89 30.0
90.00 101.00 11.0 1.73 0.05 2.9
BDGC122 118.20 119.20 1.0 0.52 0.01 2.5
188.40 191.55 3.2 2.47 0.67 21.2
90.00 100.60 10.6 1.76 0.04 2.7
BDGC123 123.15 124.00 0.8 0.63 0.08 6.0
182.05 184.65 2.6 4.94 0.98 36.4
85.60 101.20 15.6 0.93 0.05 1.8
101.70 102.40 0.7 1.32 0.1 2.0
BDGC124 110.65 115.25 4.6 0.93 0.08 2.4
178.35 185.00 6.7 1.05 0.1 1.9
192.00 196.00 4.0 0.60 0.04 1.0
87.25 97.10 9.8 1.55 0.06 2.8
BDGC125 110.90 117.80 6.9 1.38 0.09 2.9
191.80 197.10 5.3 1.45 0.04 2.0
75.00 76.10 1.1 0.58 0.04 4.0
BDGC126 105.25 107.15 1.9 3.76 0.2 4.0
121.75 127.00 5.3 1.25 0.05 1.4
88.00 94.25 6.3 3.01 0.13 4.9
BDGC127 106.75 110.40 3.7 1.20 0.07 2.0
194.90 201.30 6.4 0.81 0.05 2.6
89.25 97.60 8.3 4.30 0.16 5.7
BDGC128
109.85 111.15 1.3 2.46 0.11 2.5
BDGC129 106.55 111.00 4.5 1.36 0.08 2.2
95.65 113.75 18.1 1.52 0.04 3.1
BDGC130
118.55 119.55 1.0 1.99 0.42 16.0
94.00 113.00 19.0 1.87 0.02 3.2
BDGC131
119.40 122.25 2.8 0.68 0.46 8.1
132.50 134.00 1.5 0.82 0.04 0.9
BDGC132
139.00 140.00 1.0 0.79 0.03 1.0
88.10 102.20 14.1 1.27 0.04 2.6
BDGC133
107.00 108.10 1.1 0.58 0.02 4.0
BDGC134 118.35 128.85 10.5 1.10 0.05 1.9
BDGC135 107.20 123.80 16.6 1.52 0.04 3.1
91.00 96.15 5.2 1.91 0.09 1.8
100.00 100.60 0.6 0.53 0.14 0.5
BDGC136
104.45 105.95 1.5 1.41 0.11 2.0
182.70 184.70 2.0 0.76 0.06 0.5
BDGC137 92.65 96.80 4.1 2.43 0.1 3.2
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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
105.70 107.20 1.5 1.66 0.1 2.5
179.30 182.40 3.1 0.60 0.06 0.7
86.00 97.75 11.8 0.64 0.04 1.0
BDGC138 102.80 103.60 0.8 0.81 0.11 3.0
109.10 110.10 1.0 1.21 0.14 7.0
87.10 96.40 9.3 3.49 0.12 6.4
BDGC139 107.20 114.30 7.1 1.26 0.09 2.0
191.10 192.60 1.5 1.38 0.07 0.5
BDGC140 126.70 127.25 0.5 0.68 0.03 0.5
BDGC141 116.70 120.00 3.3 1.12 0.06 2.2
171.00 176.00 5.0 0.55 0.04 0.6
183.00 185.00 2.0 0.72 0.04 1.3
BDGC142
189.00 190.00 1.0 1.27 0.01 1.0
199.00 200.00 1.0 0.54 0.01 1.0
172.90 188.00 15.1 0.54 0.02 0.7
BDGC144
215.00 216.00 1.0 0.98 0.03 1.0
143.00 144.00 1.0 1.31 0.21 2.0
148.00 155.00 7.0 1.25 0.05 1.4
157.20 161.00 3.8 0.86 0.04 1.2
BDGC146 175.00 176.00 1.0 0.85 0.01 1.0
193.00 194.00 1.0 0.83 0.03 1.0
201.00 202.00 1.0 1.02 0.02 2.0
212.00 213.00 1.0 1.55 0.05 3.0
131.70 140.00 8.3 1.59 0.06 2.0
BDGC147 145.00 160.00 15.0 1.04 0.03 1.0
195.00 196.00 1.0 0.69 0.03 1.0
130.90 132.60 1.7 1.87 0.07 1.1
133.10 136.15 3.1 1.38 0.05 1.3
BDGC148 146.15 155.10 8.9 0.92 0.04 1.4
172.65 177.65 5.0 0.86 0.03 1.5
187.65 188.65 1.0 0.82 0.03 1.0
129.65 134.05 4.4 3.04 0.1 3.9
139.80 140.80 1.0 0.61 0.01 1.0
BDGC149 144.80 149.80 5.0 0.59 0.01 1.0
160.80 161.80 1.0 0.56 0.03 1.0
163.80 164.80 1.0 0.72 0.02 1.0
108.50 113.50 5.0 2.40 0.15 3.0
BDGC150
120.45 128.05 7.6 1.14 0.05 1.6
109.60 110.30 0.7 0.83 0.05 1.0
BDGC151 114.00 115.40 1.4 2.82 0.14 2.5
126.00 128.70 2.7 0.77 0.05 0.9
90.25 102.00 11.8 2.47 0.12 2.9
106.10 107.20 1.1 0.77 0.34 2.0
BDGC152
110.20 111.20 1.0 0.69 0.27 0.5
119.80 123.00 3.2 0.70 0.26 4.1
104.10 113.30 9.2 0.77 0.06 1.4
BDGC153
119.00 120.05 1.1 1.10 0.05 0.5
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Hole ID From (m) To (m) Downhole Length (m) [1] Cu (%) [2] Au (g/t) Ag (g/t)
124.05 130.85 6.8 1.15 0.09 1.0
BDGC154 86.20 115.00 28.8 1.40 0.11 2.6
BDGC155 93.00 115.80 22.8 2.40 0.1 5.3
88.65 110.30 21.7 1.80 0.03 2.8
BDGC156
122.60 123.60 1.0 0.55 0.14 6.0
85.10 118.35 33.3 1.17 0.04 2.8
BDGC157
122.00 126.00 4.0 0.64 0.08 1.1
BDGC158 95.00 121.20 26.2 1.31 0.04 2.4
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1 Drill hole true width lengths are between 50% to 100% of reported interval lengths.

2 Assay intervals have been reported at a 0.5% Cu cut-off grade with a maximum internal dilution of 3.0m.

APPENDIX B:

JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data Avoca Tank deposit drill program

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Criteria Commentary
Sampling techniques  All Diamond core samples prior to 2023 were based on ½ core. Diamond drill cores
are now based on ½ core samples for Exploration and Resource definition
programs, and a combination of ½ and full core for grade control programs.
 All core is aligned, measured and metre marked.
 Diamond and RC pre-collars conducted by Aeris Resources (previously Straits
Resources) were completed to industry standards. Aeris has assumed that early
programs from the mid 1970’s were conducted at Industry standards at the time.
 Diamond samples are taken at geological boundaries to a maximum of 1.2m and
a minimum of 0.40m with the standard interval at 1m within mineralised zones to
approximately 5m before and past mineralisation.
 Diamond core was HQ2 in size from RC pre-collars. All zones sampled by Aeris
Resources for the Avoca Tank resource based on the TATD series drillholes in the
Avoca Tank’s estimation were primary sulphide and analysed by a 3-stage aqua
regia digestion with an ICP finish (suitable for Cu 0.01-40%) ALS method ME-ICP4.
 All Cu samples greater than or equal to 1 % using the ME-ICP4 method were re-
assayed using the ore digest ME-OG46 method.
 Additional Au analysis by fire assay fusion with an AAS finish, 30g charge (suitable
for Au 0.01-100ppm) ALS method Au-AA21.
Drilling techniques  All available drilling was used for the Avoca Tank resource interpretation and
estimation on 27 November 2024. A total of 792 drill holes were used in the MRE.
Additional drilling to November 2025 has been included in the Avoca Tank grade
control model dated 27 November 2025 and includes a total of 1,139 drill holes,
including face, sludge and wall samples. Drilling series and drill type are:
-
NGAT series, percussion and diamond core drilled in 1975-76
- TATD series, HQ2 diamond core drilled in 2011-22
- ATEL series, NQ2 diamond core drilled in 2022-25
- ATGC series, NQ2 diamond core drilled since 2023
- Other series, Diamond (15%) and RC (85%) drilled from 1994-2022
Drill sample recovery  All diamond cores have recoveries measured and recorded along with RQD. RC
pre-collar sample recoveries were not recorded nor required to be recorded, as all
material estimated for the Avoca Tank mineralisation is defined by core.
 No relationship appears to exist between recovery and grade.
Logging  All diamond core and RC chips are geologically logged by Company Geologists.
All cores are also geotechnically logged. Logging is at the level of detail to support
the Avoca Tank style of mineralisation.
 Logging of both RC and core samples record lithology, alteration, mineralisation,
degree of oxidation, fabric and colour. Core was photographed in both dry and
wet form. All RC intervals are stored in plastic chip trays, labelled with interval and
hole number, and the core is stored in core trays.
 All RC and core samples were logged in full.
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Page | 18

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Criteria Commentary
Sub-sampling  Diamond core samples are cut using an Almonte automatic core saw, with one half
techniques and dispatched for analysis and the other half retained, except where full core samples
sample preparation are taken
 Half core samples are sent to a certified sample preparation and assay laboratory.
 Upon arrival at the laboratory, each sample weight is recorded. Samples greater
than 3kg are crushed via a Boyd crusher (90% passing 2mm) and rotary split to a
sub-sample between 2 and 3kg.
 The sub-sample is pulverised via a LM5 to 80% passing 75 µm. A 300g sample was
taken from the pulverised material for assaying. Samples less than 3kg are crushed
via a jaw crusher to 70% passing 6 mm and the whole sub-sample is pulverised in a
LM5 with a 300g sub-sample taken for assaying.
 RC samples for waste sections are collected at 1m intervals and composited to 4
metre intervals and spear sampled. If RC composites return above background
copper or gold value, they are then riffle-split from the original 1m sample.
 Sample blanks and industry standards (CRMs) are routinely submitted. Pulps are
retained to be submitted to a different laboratory or resubmitted to the same
laboratory to test sampling repeatability and accuracy.
 No field sample duplicates are taken; however, all core samples are visually
examined against assay values and the logged mineralisation type.
 The sample sizes are considered appropriate to the grain size of the material being
sampled.
Quality of assay data  All assays post-1990 were conducted at accredited assay laboratories. Aeris does
and laboratory tests not have information for the pre-1990 assay methods, but these are assumed to
have been to industry standards at the time. Pre-1990 drill holes do not contribute
to the classification of the MRE.
 Samples for the TATD, ATEL and ATGC series drillholes are of primary sulphide, and
analysed by a 3-stage aqua regia digestion with an ICP finish (suitable for Cu 0.01-
40%) ALS method ME-ICP4.
 All Cu samples greater than or equal to 1 % using the ME-ICP4 method were re-
assayed using the ore digest ME-OG46 method.
 Additional Au analysis was performed by fire assay fusion with an AAS finish, 30g
charge (suitable for Au 0.01-100ppm) ALS method Au-AA21.
 Laboratory QA/QC samples include the use of blanks, duplicates and standards
(CRMs) as part of in-house procedures.
Verification of  Significant mineralised intersections are reviewed by the logging Geologist and
sampling and assaying Senior Geologist.
 No twinned holes were conducted.
 All Aeris Resources geological data is logged directly into Aeris Resources logging
computers following the Corporate Geology codes.
 Data is transferred to the AcQuire Corporate database and validated on entry.
 Down hole survey data is validated and checked for potential deviation from
magnetic mineralisation before data entry. If survey data is affected by
mineralisation, surveys are adjusted.
Location of data points  All surface holes completed have collar locations surveyed by using a handheld
GPS unit with an approximate horizontal accuracy of approximately +/- 5 m.
 Due to the uncertainty in the vertical reading from handheld GPS units, the collars
are projected onto the surveyed topographical surface.
 Underground collars are surveyed by standard survey methods by the site survey
team.
 Surveys are entered into the Aeris Corporate Acquire database. Historic drill hole
collar positions were surveyed by Theodolite. A 3D model of the topographic
surface was generated using the drill hole collars.
 Downhole surveys were completed by the drill contractor. Azimuth and dip
orientations are measured every 30 m, or at shorter intervals if required.
 Resource modelling is based on a local grid, the North East Mine Grid. Rotation of
the grid is 31.22 degrees to the west from AMG North.
 Quality and accuracy of the drill collars are considered suitable for input to an MRE.
Data spacing and  The Avoca Tank drill spacing is between 10m x 10m and 30m x 30m to a depth of
distribution 450m below the surface.
 The Avoca Tank mineralisation has sufficient drilling coverage to define both
geological and grade continuity for Mineral Resource estimation as reflected in the
resource classification.
Orientation of data in  Due to the complexity of the geometry of the mineralisation there is a potential for
relation to geological sample bias due to the variable strike and dip of mineralisation.
structure  This is mitigated to a large extent by structural measurements of oriented core
through the mineralisation and detailed underground mapping.
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Page | 19

• Criteria Commentary Sample security  The Chain of Custody is managed by the Company. Samples are stored on site generally in polyweave bags containing 5 samples.

• The bags are securely tied, loaded and wrapped onto a pallet for dispatch to the laboratory.

• The samples are freighted directly to the laboratory with appropriate documentation listing sample numbers and analytical methods requested.

• Samples are immediately receipted by a laboratory member on arrival, with a notification to Aeris Resources of the number of samples that have arrived.

• Audits or reviews  No external audits or reviews have been conducted.

JORC Code, 2012 Edition – Table 1 Section 2 Reporting of Exploration Results Avoca Tank deposit drill program

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Criteria Commentary
Mineral tenement and  The Tritton Regional Tenement package is located approximately 45km northwest
land tenure status of the township of Nyngan in central western New South Wales.
 The Tritton Regional Tenement package consists of 6 Exploration Licences and 3
Mining Leases. The mineral and mining rights are owned 100% by the company.
 The Avoca Tank deposit is located within ML1818, which is in good standing with no
known impediments.
Exploration done by  Regional exploration has been completed over the currently held tenement
other parties package by Utah Development Co in the early 1960’s to early 1970’s. Australian
Selection P/L completed exploration throughout the 1970’s to late 1980’s prior to
NORD Resources throughout the late 1980’s and 1990’s. This included soil sampling
and regional magnetics which covered the Avoca, Greater Hermidale, Belmore
and Thorndale project areas. Principally exploration efforts were focused on the
discovery of oxide copper mineralisation. NORD Resources also completed some
shallow reverse circulation (RC) drilling over the Avoca Tank Resource. Subsequent
exploration efforts have been completed by Tritton Resources Pty Ltd with the drilling
over a number of RC drill holes within the Greater Hermidale region in the late 1990’s
similarly focused on heap leachable oxide copper mineralisation, prior to the
acquisition of the Tritton Resources Pty Ltd by Straits Resources Limited in 2006.
Geology  Regionally, mineralisation is hosted within early to mid-Ordovician turbidite
sediments, forming part of the Girilambone Group. Mineralisation is hosted within
greenschist facies, ductile deformed pelitic to psammitic sediments, and sparse
zones of coarser sandstones.
 A total of nine sulphide lenses have been modelled to date. Of these, five have had
level development for stope production since mineralisation was first intersected in
December 2022. Mineralised lodes generally strike north north-west and steeply dip
to the east at 80 degrees, except where controlled by mafic volcanics. All
mineralised lodes are defined by a >0.5% copper grade shell, with diamond drill core
photos, structural and geological mapping, wall sampling and sludge/production
hole logging used to further define the geometry of the lodes, where assay data
was not available at time of interpretation. Interpreted mineralised lenses are all in
fresh rock below the base of weathering. The top of the currently defined
mineralisation is approximately 80 m below surface (5125 mRL). Potential economic
mineralisation occurs in the weathered zone, however, modelling in this zone has
yet to be completed.
Drillhole information  All relevant information pertaining to each drill hole has been provided in the tables
with this announcement.
Data aggregation  All assay results reported represent length weighted composited assays.
methods Compositing was applied to intervals which nominally exceeded 0.5% Cu with a
maximum of 3.0m internal dilution. No top cutting of assay results was applied.
Relationship between  Drill holes are designed to intersect the target horizon across strike at or near right
mineralisation widths angles. At times it is not possible to intersect the target horizon at or near right angle
and intercept lengths and is dependent on drill site availability.
 The true thickness of the mineralisation is provided as a range based on reviewing a
subset of mineralised intersections listed in the appendices.
Diagrams  Relevant diagrams are included in the body of the report.
Balanced reporting  The reporting is considered balanced and all material information and input data
has been disclosed.
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Criteria	Commentary
Other substantive exploration data	 There is no other relevant substantive exploration data to report.
Further work	 Two underground drill rigs will continue drilling at the Avoca Tank deposit, primarily targeting extensions to the mineralised system down dip from the current reported Mineral Resource.

JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data Budgerygar deposit drill program

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Criteria Commentary
Sampling techniques  All diamond core samples are based on ½ core. All diamond core is aligned,
measured and metre marked.
 During all drill programs at the Budgerygar deposit, Aeris Resources have ensured
drill contractors completing the works maintain a high industry standard.
 Diamond drill sample lengths are generally taken at 1.0m intervals. At geological
boundaries (based on mineralisation textural differences or material changes in
chalcopyrite content) the sample length can vary between a minimum of 0.4m and
maximum of 1.2m.
 Sampling is extended up to a nominal 5m beyond the mineralised system.
 Exploration and resource definition diamond core which intersected the mineralised
Budgerygar deposit are predominantly NQ2 in size.
 All Exploration holes sampled by Aeris Resources for the Budgerygar Mineral
Resource are analysed by a 35 element three stage Aqua Regia digestion with an
ICP finish (ME-ICP41) suitable for Cu concentrations between 1 ppm to 10,000 ppm.
 All Cu samples greater than or equal to 1.0% Cu were re-submitted for an ore digest
to determine Cu concentrations greater than 1.0% (ME-OG46).
 Au assays were completed via fire assay fusion with an AAS finish using a 30g charge
(Au-AA22) suitable for Au grade ranges between 0.01 g/t – 100 g/t. All
 Au samples greater than or equal to 1.0 g/t Au were re-submitted for an ore grade
30g fire assay charge to determine Au concentrations greater than 1.0 g/t Au (Au-
AA25).
 All resource definition diamond drill holes are assayed using the ore grade digest
method (ME-OG46) for Cu, Fe, Ag, Zn, Pb and S. Au assays are completed via Au-
AA25. Sample preparation and assaying are completed at the ALS laboratory in
Orange NSW.
Drilling techniques  All drilling data intersecting the modelled Budgerygar copper sulphide domains was
completed via diamond drilling. A total of 391 drillholes were used for resource
modelling and estimation.
Drill sample recovery  All diamond core recoveries are measured and recorded by Aeris Resources field
technicians or geologists. Initial drill holes completed by NORD targeting the
Budgerygar deposit did not have RQD routinely recorded. RC pre-collar sample
recoveries were not recorded nor required to be recorded as all material estimated
for the Budgerygar mineralisation is defined by diamond drill core. RQD
measurements are taken on all cores prior to all sampling. This procedure has been
part of the standard drill core processing procedure since 2005.
 Rock competency is very good through the Budgerygar mineralised system and
adjoining country rock. Faults intersected are generally sub metre in thickness and
contain minor amounts of clay which are susceptible to core loss. Industry standard
drilling practices are maintained to ensure sample recoveries and core presentation
remains at a high level.
 No significant relationship appears to exist between recovery and grade.
Logging  All diamond drill cores have been geologically logged by company geologists. All
drill holes have been geotechnically logged. All logging is to the level of detail to
support the Budgerygar style of mineralisation.
 Logging of diamond drill core records lithology, alteration, mineralisation, degree of
oxidation, structure, RQD and recovery. All drill core was photographed in both dry
and wet form. Core is stored in core trays and labelled similarly.
 All diamond drill core holes are logged in full.
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Criteria Commentary
Sub-sampling  Diamond core samples are cut using an Almonte automatic core saw. Half core
techniques and samples are collected on average at 1.0m intervals and can vary between 0.4m to
sample preparation 1.2m. Sample intervals not equal to 1.0m generally occur at mineralisation/geology
contacts.
 Samples taken are appropriate for the Budgerygar mineralisation style. Half core
drill core samples are sent to ALS laboratory in Orange NSW for sample preparation
and assaying. Upon arrival at the laboratory sample weights are recorded. Samples
greater than 3kg are crushed via a Boyd crusher (90% passing 2mm) and rotary split
to a sub sample between 2kg to 3kg. The sub sample is pulverised via a LM5 to 85%
passing 75µm. A 300g sample is taken from the pulverised material for assaying.
Samples less than 3kg are crushed via a jaw crusher to 70% passing 6mm and the
whole sample is pulverised in a LM5 with a 300g sub sample taken for assaying.
 Sample blanks and industry standards (CRMs) are routinely submitted at a
frequency of 1:20. Duplicates and pulps are retained and re-submitted periodically
to test assay reproducibility.
 The sample sizes are considered appropriate to the grain size of the material being
sampled.
Quality of assay data  Mineralisation at the Budgerygar deposit is associated with primary sulphides.
and laboratory tests Copper mineralisation is primarily associated with chalcopyrite. Copper
mineralisation is largely associated with banded to semi-massive and massive
mineralisation variably affected by small-scale faulting and alteration. The assay
methods described previously are considered appropriate for the style of
mineralisation. Sample preparation methods are also considered appropriate for
the style of mineralisation. Review of sample duplicates indicates the assay
repeatability is very good.
 Information regarding assay techniques used for samples taken pre 2005 cannot be
confirmed. However, drill holes completed up to this period are spatially distributed
amongst more recent drilling from which the assay methodology/techniques are
known. Aeris Resources are confident the assay methods used would meet industry
standards based on the geological protocols in place at the time.
 No other methods were used to derive assay values for resource estimation.
 Laboratory QA/QC samples included the use of blanks, duplicates, standards
(CRMs) and repeats.
Verification of  Significant mineralised intersections are reviewed by the logging geologist. QAQC
sampling and assaying results are reviewed on batch-by-batch and monthly basis. Deviations from
precision tolerances are investigated on a batch-by-batch basis. If grade bias is
observed, then follow up with the laboratory typically occurs monthly.
 No twinned holes were conducted.
 All Aeris Resources geological data is logged directly into Acquire at the core yard
using company laptops and logging codes.
 In built Acquire validation occurs at the time of data entry.
 Assay results are returned electronically on a batch-by-batch basis from the ALS
laboratory via the Webtrieve portal. Returned assay batches are reviewed prior to
uploading them to the Acquire database. If a batch fails QAQC procedures, then
follow up and potential re-assaying from the laboratory is conducted. Assay data
are not uploaded to the Acquire database until a batch passes all QAQC tests.
 No adjustments to assay data are made.
Location of data points  Surface drill holes completed from 2005 onwards have collar locations surveyed by
using either a DGPS or by handheld GPS. Handheld GPS measurements are
corrected to topographic survey. All pre 2005 drill holes were surveyed by either staff
surveyors or contractors using a theodolite.
 Surveyed collar co-ordinates are entered and stored within Aeris Resources Acquire
database.
 Geology interpretations and grade estimates are based on a local Tritton Mine Grid
(TMG). The TMG is rotated 8.423⁰ to the west from AGD 66 true north.
 Quality and accuracy of the drill collars are suitable for geological interpretation
and resource estimation.
Data spacing and  Drill spacing across the Budgerygar deposit varies from approximately 20m (N) x 20m
distribution (RL) to 100m (N) x 100m (RL).
 Indicated Mineral Resource is defined within 40m x 40m drill spacing. Inferred Mineral
Resource is defined with drill spacings up to 80m x 80m. Based on the observed
geological continuity the drill spacing is appropriate to classify as Indicated and
Inferred Mineral Resource.
 The Budgerygar mineralisation is sufficiently defined to model both geology and
grade continuity for an Indicated and Inferred Mineral Resource classification.
 Samples are composited to 1.0m intervals. The majority of the assay data are 1.0m
in length. Within an estimation domain composite lengths are created at 1.0m
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Criteria Commentary
intervals from HW to FW. In some instances, the FW sample may be less than 1.0m
in length. Samples greater than or equal to 0.5m are retained for estimation and
those less than 0.5m are not used for estimation.
Orientation of data in  Drillholes intersect the deposit at high angles to the mineralised system i.e.
relation to geological approaching a perpendicular angle.
structure  There is a negligible chance of potential grade bias based on drill
orientation/intersection angles.
 No material issues due to sampling bias have been identified.
Sample security  The Chain of Custody is managed by the Company. Samples post 2005 were stored
on site in polyweave bags containing approximately 5 samples. These bags are
securely tied, then loaded and wrapped onto a pallet for dispatch to the
laboratory.
 The samples are freighted directly to the laboratory with appropriate
documentation listing sample numbers and analytical methods requested.
 Samples are immediately receipted by a laboratory staff member on arrival, with a
notification to Aeris Resources of the number of samples that have arrived.
Audits or reviews  Data is validated when uploading into the Company’s AcQuire database.
 No formal audit has been conducted.
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JORC Code, 2012 Edition – Table 1 Section 2 Reporting of Exploration Results Budgerygar deposit drill program

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Criteria Commentary
Mineral tenement and  The Tritton Regional Tenement package is located approximately 45 kilometres
land tenure status north-west of the township of Nyngan in central western New South Wales.
 The Tritton Regional Tenement package consists of 8 Exploration Licences and 3
Mining Leases. The mineral and mining rights are owned 100% by the Company.
 The Budgerygar deposit is located within ML1544. ML1544 is in good standing and
no known impediments exist.
Exploration done by  Regional exploration has been completed over the currently held tenement
other parties package by Utah Development Co in the early 1960’s to early 1970’s. Australian
Selection P/L completed exploration throughout the 1970’s to late 1980’s prior to
NORD Resources throughout the late 1980’s and 1990’s. This included soil sampling
and regional magnetics which covered the Avoca, Greater Hermidale, Belmore
and Thorndale project areas. Principally exploration efforts were focused on the
discovery of oxide copper mineralisation. NORD Resources also completed some
shallow reverse circulation (RC) drilling over the Avoca Tank Resource. Subsequent
exploration efforts have been completed by Tritton Resources Pty Ltd with the drilling
over a number of RC drill holes within the Greater Hermidale region in the late 1990’s
similarly focused on heap leachable oxide copper mineralisation, prior to the
acquisition of the Tritton Resources Pty Ltd by Straits Resources Limited in 2006.
Geology  Regionally mineralisation is hosted within early to mid-Ordovician turbidite
sediments, forming part of the Girilambone group. Mineralisation is hosted within
greenschist facies, ductile deformed pelitic to psammitic sediments, and sparse
zones of courser sandstones.
 Sulphide mineralisation within the Tritton tenement package is dominated by
banded to stringer pyrite – chalcopyrite, with a massive pyrite-chalcopyrite unit
along the hanging wall contact. Alteration assemblages adjacent to mineralisation
is characterised by an ankerite footwall and silica sericite hanging wall.
Drill hole information  All relevant information pertaining to each drill hole has been provided.
Data aggregation  All assay results reported represent length weighted composited assays.
methods Compositing was applied to intervals which nominally exceeded 0.5% Cu with a
maximum of 3.0m internal dilution. No top cutting of assay results was applied.
Relationship between  Drill holes are designed to intersect the target horizon across strike at or near right
mineralisation widths angles. At times it is not possible to intersect the target horizon at or near right angle
and intercept lengths and is dependent on drill site availability.
 The true thickness of the mineralisation is provided as a range based on reviewing a
subset of mineralised intersections listed in the appendices.
Diagrams  Relevant diagrams are included in the body of the report.
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Criteria	Commentary
Balanced reporting	 The reporting is considered balanced, and all material information associated with the drill results has been disclosed.
Other substantive exploration data	 There is no other relevant substantive exploration data to report.
Further work	 Two underground drill rigs will focus on exploration and resource definition drilling at the Budgerygar deposit throughout the remainder of FY26.

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