ALCHEMY RESOURCES LIMITED — Capital/Financing Update 2026

Mar 10, 2026

Forrestania Resources Ltd Phone +61 8 6555 2950 Suite 1, 295 Rokeby Road info@forrestaniaresources.com.au Subiaco WA 6008 ACN 647 899 698 ASX: FRS forrestaniaresources.com.au

11 March 2026

ASX RELEASE

Forrestania Expands Eastern Goldfields Hub

Highlights:

• Forrestania Resources has entered into a Binding Heads of Agreement to acquire E28/2575, E28/2576-I, E28/2667, E28/2668, E28/3008, E28/3035, E28/3039, E28/3048, E28/3053, E28/3058, E28/3059, E28/3063, E28/3064, E28/3098, E28/3207 and E28/3355 from Goldtribe Corporation Pty Ltd (Goldtribe), a subsidiary of Alchemy Resources Limited (Alchemy; ASX: ALY) which holds granted gold mining tenure within WA’s Eastern Goldfields gold district

• Acquisition consideration is to pay Alchemy a sum of $5,000,000 (Total Consideration); o Issue to Alchemy (or its nominee) a number of Shares equal to $5,000,000 divided by the 10-day volume weighted average price of Forrestania’s Shares over the 10 days immediately preceding the date of this Agreement

• Karonie Gold Project 111,100 oz Inferred Mineral Resource Estimate (“MRE”) at a 0.8g/t Au cut-off ([1] ASX announcement dated 31 August 2021 ‘Maiden 111,100oz JORC 2012 Resource at Karonie’)

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• Acquisition represents a strategic consolidation of prospective tenure near existing processing infrastructure and supports Forrestania regional growth strategy

Forrestania Resources’ Chairman David Geraghty commented:

“This acquisition is aligned with Forrestania’s disciplined strategy of consolidating prospective tenure, with significant tenure now in the FRS Eastern Goldfields Hub. Importantly, the transaction structure aligns consideration with preserving capital which can be assigned to advancing Forrestania’s near term production ambitions across our portfolio of Western Australian gold assets.”

Forrestania Resources Limited (ASX: FRS) (“FRS” or “the Company”) is pleased to announce that it has entered into a Binding Heads of Agreement to acquire E28/2575, E28/2576-I, E28/2667, E28/2668, E28/3008, E28/3035, E28/3039, E28/3048, E28/3053, E28/3058, E28/3059, E28/3063, E28/3064, E28/3098, E28/3207 and E28/3355 from Goldtribe Corporation Pty Ltd (Goldtribe), a subsidiary of Alchemy Resources Limited (Alchemy; ASX: ALY), for consideration comprising a sum of $5,000,000 of fully paid ordinary shares in the capital of the Forrestania Resources divided by the 10-day volume weighted average price of the Purchaser’s Shares over the 10 days immediately preceding the date of this Agreement.

About Karonie Project

The Karonie Project includes 16 exploration licences covering ~942km2 of highly prospective mineralised structures within Kurnalpi Terrain greenstones 100km east of Kalgoorlie. The Project is located adjacent to Vault Minerals’ (ASX: VAU, “Vault Minerals”) Aldiss Mining Centre (reserves/resources of over 595,000oz @ 2.0g/t Au[2] ), within 50km of VAU’s Randalls processing plant. The Project covers areas of the under-explored, Claypan Shear Zone commencing just 12km along strike to the south of Ramelius Resources’ (ASX: RMS, “Ramelius”) Bombora deposit (resource of 1.7Moz @ 1.6g/t Au[3] ) and extending up towards Northern Star Resources (ASX: NST) Carosue Dam Mine in the north. Alchemy announced a maiden Resource for the KZ5, Taupo and Parmelia prospects of 111koz in August 2021[1] (Table 1).

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Table 1: Karonie Gold Project Inferred Mineral Resource Estimate (“MRE”) (0.8g/t Au cut-off)[1]

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Table 2: Karonie Gold Project MRE cut-off grade comparison[1]

The Karonie Project tenement package, consisting of Exploration Licences E28/2575, E28/2576-I, E28/2667, E28/2668, E28/3008, E28/3035, E28/3039, E28/3048, E28/3053, E28/3058, E28/3059, E28/3063, E28/3064, E28/3098, E28/3207 and E28/3355.

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Figure 1. Eastern Goldfields Hub location

• 1Refer Alchemy Resources Limited (ASX: ALY) ASX announcement dated 31 August 2021 ‘Maiden 111,100oz JORC 2012 Resource at Karonie’

2Refer Silver Lake Resources Ltd (ASX: SLR) ASX announcement dated 15 September 2021 “Mineral Resource, Ore Reserve Statement & Outlook to FY24”

3Refer Breaker Resources NL (ASX: BRB) ASX announcement dated 20 December 2021 “Lake Roe Gold Project Mineral Resource Update”

Corporate Details

The Company has entered into a Binding Heads of Agreement to acquire E28/2575, E28/2576-I, E28/2667, E28/2668, E28/3008, E28/3035, E28/3039, E28/3048, E28/3053, E28/3058, E28/3059, E28/3063, E28/3064, E28/3098, E28/3207 and E28/3355 from Goldtribe Corporation Pty Ltd (Goldtribe), a subsidiary of Alchemy Resources Limited (Alchemy; ASX: ALY), in and around the Company’s Eastern Goldfields Hub.

Consideration

Under the Agreement:

• a) Acquisition consideration is to pay Alchemy a sum of $5,000,000 (total consideration);

• a. Issue to Alchemy (or its nominee) a number of fully paid ordinary shares in Forrestania equal to $5,000,000 divided by the 10-day volume weighted average price of the Purchaser’s Shares over the 10 days immediately preceding the date of this Agreement.

Royalty

• a. Subject to clause (b) below, following Settlement, Forrestania grants to the Vendor a 1% net smelter royalty (Royalty) on all minerals mined from the Tenements. The royalty shall be granted on terms of a formal royalty deed to be executed by the parties at Settlement (Royalty Deed). The Royalty Deed shall be drafted by the Purchaser’s legal counsel and be consistent with the Energy & Resources Law Association (previously AMPLA) standard form royalty deed for a net smelter return royalty.

No Royalty will be payable on the first 110,000 ounces of gold mined from the Parmelia, KZ5 and Taupo deposits on the Tenements. For the avoidance of doubt, the Royalty on any other minerals mined from the Tenements and any gold mined from the Tenements from outside of the Parmelia, KZ5 and Taupo deposits will be payable from Completion. Completion under the Agreement is conditional upon the satisfaction of the following conditions precedent:

• a. Due diligence : completion of financial, legal and technical due diligence by the Purchaser on the Tenements, to the absolute satisfaction of the Purchaser within a period of 30 days from the date of this Agreement;

• b. Shareholder approval : the shareholders of the Purchaser approving the transactions contemplated by this Agreement in a general meeting;

• c. Regulatory approvals : the Parties obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the Parties to lawfully complete the matters set out in this Agreement;

• d. Third party approvals : the Parties obtaining all third party approvals and consents, including the consent of the Minister responsible for the Mining Act (if required), necessary to lawfully complete the matters set out in this Agreement; and

• e. Deeds of assignment and assumption : the Vendor, the Purchaser and, if necessary, under the Third Party Agreements, the relevant third party, executing a deed of assignment and assumption in relation to each Third Party Agreement.

If the conditions precedent are not satisfied (or waived) on or before the date that is nine months from the date of the agreement (unless extended by the written agreement), then either Forrestania or the vendors may terminate this Agreement.

The Agreements are otherwise on standard terms and conditions for an agreement of this type.

This announcement has been authorised for release by Forrestania Resources’ Board. For further information please contact:

David Geraghty Chairman Phone +61 8 6555 2950 info@forrestaniaresources.com.au

Investor Relations Lucas Robinson Investor Relations Phone +61(0) 408 228 889 lucas@corporatestorytime.com

Paul Berson Investor Relations Phone +61(0) 421 647 445 paul@corporatestorytime.com

About Forrestania Resources Limited

Forrestania Resources Limited (ASX: FRS) is a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia’s premier mining districts.

Led by a refreshed and experienced board, Forrestania is strategically expanding its footprint across the Southern Cross, Eastern Goldfields and Forrestania regions through disciplined exploration, selective acquisitions and a commitment to unlocking the broader potential of these highly prospective belts.

In the Southern Cross district, the Company is advancing a strategy to define significant gold resources that can support long-term development opportunities.

The Forrestania Project, from which the Company takes its name, lies within a world-class mineral province adjacent to the historic Bounty gold mine (~1Moz historic production) and in proximity to major mining operations, underscoring the region’s exceptional prospectivity.

Further north, Forrestania’s projects near Coolgardie and Menzies provide additional exposure to gold within proven mineralised corridors of the Eastern Goldfields.

Forrestania Resources is dedicated to creating shareholder value through systematic exploration, strong technical execution and a focused approach to growing its gold asset base across Western Australia.

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Figure 2. Forrestania Regional Hub locations

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Mr James Wilson, who is the Chief Executive Officer of Alchemy Resources Limited and holds shares and options in the Company. Mr Wilson is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Wilson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Richard Maddocks is an employee of Auranmore Consulting. Richard Maddocks has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Richard Maddocks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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