ARDEA RESOURCES LIMITED — Capital/Financing Update 2026

Apr 8, 2026

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ASX Announcement
9 April 2026
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Kalgoorlie Nickel Project Beneficiary of Federal Government Investor Front Door Program

Ardea Resources Limited ( ASX: ARL ) (Ardea or the Company) is pleased to announce that the Kalgoorlie Nickel Project ( KNP ) has been selected to participate in the Australian Government’s prestigious and competitively sought Investor Front Door ( IFD ) program.

Highlights

• KNP selected for Australian Government Investor Front Door (IFD) pilot[1] , recognising KNP’s national significance and strategic global importance, as Australia’s largest nickel-cobalt Mineral Resource and one of the largest in the Western developed world[2]

• IFD support provides dedicated Federal Government engagement to streamline multi ‑ agency approvals and improve regulatory certainty, over and above that already granted through the Major Project Status[3]

• Facilitates access to government financing pathways, complementing strong interest from Ardea’s local and international partners, including Export Finance Australia and the Export-Import Bank of the United States[4]

• Enhances coordination between Federal and State regulators supporting timely progression of key KNP approvals

• Supports advancement of the Goongarrie Hub, a strategically important component of Australia’s largest nickel ‑ cobalt Mineral Resource

About the Investor Front Door

The IFD pilot is a whole of government initiative designed to streamline regulatory approvals and improve access to government financing pathways for nationally significant projects. Under the pilot, selected projects receive support from a dedicated engagement manager to navigate regulatory processes, coordinate agency interactions and identify relevant government financing opportunities.

Ardea’s participation follows the Company being invited to submit a formal Expression of Interest submission, prepared collaboratively across the executive team. Ardea’s application met all eligibility requirements, and the team engaged actively with Federal Treasury’s IFD unit throughout 2025 and into early 2026. This involved provision of detailed supporting documentation relating to approvals pathways, financing requirements and project development timing.

Participation in the IFD pilot aligns strongly with the advancement of the KNP – Goongarrie Hub, providing:

• Dedicated support in navigating multi-agency approvals, improving certainty and reducing administrative delays.

• Facilitation of government financing discussions, complementing strong interest from Ardea’s international partners.

1 https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/investor-front-door-officially-open and https://www.minister.industry.gov.au/ministers/king/media-releases/building-our-economic-resilience-through-investor-front-door

2 Ardea ASX announcement 30 June 2023 and GSWA rankings 20 June 2024 Flyer

3 Ardea ASX announcement 20 October 2025

4 Ardea ASX announcement 5 February 2026

Ardea Resources Limited (ABN 30 614 289 342) Suite 2 / 45 Ord Street West Perth, WA 6005 Tel: (+61) 8 6244 5136 Email: ardea@ardearesources.com.au

ASX Code ARL Shares on Issue: 219.7M Performance Rights: 4.5M Options: 3.0M

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Kalgoorlie Nickel Project included in Federal Government Investor Front Door

• Enhanced regulatory coordination, proactively engaging Federal and State agencies central to the project’s approvals program to expedite project commissioning.

Ardea Managing Director and CEO, Andrew Penkethman said:

“Inclusion of the Kalgoorlie Nickel Project in the Australian Government’s Investor Front Door (IFD) program is an important recognition of the project’s national significance and strategic value to Australia’s Critical Minerals supply chain. The IFD support provides enhanced regulatory coordination and access to government financing pathways, strengthening certainty as we progress the Goongarrie Hub through key approvals and development milestones.

On behalf of Ardea, I would like to thank the Australian Government and all Stakeholders for their support as we continue to advance Australia’s largest nickel-cobalt resource, commencing with the Goongarrie Hub, toward production as a long life nickel-cobalt asset that provides essential supply chain diversity and security.”

Next Steps

Ardea expects direct engagement with the IFD team to accelerate and assist with expediting the progression of the KNP – Goongarrie Hub through the approvals and funding processes.

This announcement is authorised for release by the Board of Ardea Resources Limited.

For further information regarding Ardea, please visit https://ardearesources.com.au/ or contact:

Andrew Penkethman,

Managing Director and Chief Executive Officer

Tel +61 8 6244 5136

Email: ardea@ardearesources.com.au

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Kalgoorlie Nickel Project included in Federal Government Investor Front Door

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About Ardea Resources

Ardea (ASX:ARL) is an ASX-listed nickel development company in joint venture with Sumitomo Metal Mining and Mitsubishi Corporation to build, commission and operate a plus 30,000tpa multi-decade nickel operation)[5] :

• Development of the Kalgoorlie Nickel Project ( KNP ) and its sub-set the Goongarrie Hub, a globally significant series of nickel-cobalt and Critical Mineral deposits which host the largest nickel-cobalt resource in Australia and one of the largest in the developed World at 854Mt at 0.71% nickel and 0.045% cobalt for 6.1Mt of contained nickel and 386kt of contained cobalt . Within the KNP, the Goongarrie Hub has 584Mt for 4.0Mt of contained nickel (Consortium right to earn 50%) and Kalpini Hub has 270Mt for 2.1Mt of contained nickel (Ardea 100% unencumbered interest)[6] , located in a jurisdiction with exemplary Environmental Social and Governance ( ESG ) credentials.

• Scoping Study initial programs being planned for the Kalpini Hub nickel-cobalt resources.

• Advanced-stage exploration at compelling nickel sulphide targets, such as Kalpini, and Critical Minerals targets including scandium and Rare Earth Elements throughout the KNP Eastern Goldfields world-class nickel-gold province, with all exploration targets complementing the KNP nickel development strategy.

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Follow Ardea on social media

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5 Ardea Pre-feasibility Study ASX announcement 5 July 2023

6 Ardea ASX release 30 June 2023

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Kalgoorlie Nickel Project included in Federal Government Investor Front Door

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable Australian securities laws, which are based on expectations, estimates and projections as of the date of this news release.

This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management’s expectations with respect to, among other things, the timing and amount of funding required to execute the Company’s exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company’s properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company’s ability to raise funding privately or on a public market in the future, the Company’s future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may” and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time.

Forward-looking information involves significant risks, uncertainties, assumptions, and other factors that could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, the ability to create and spinout a gold focussed Company, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Australia or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information.

Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forwardlooking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

Competent Persons statement

The Resource Estimation, exploration and industry benchmarking summaries are based on information reviewed or compiled by Mr. Ian Buchhorn, and Mr Andrew Penkethman. Mr Buchhorn is a Member of the Australasian Institute of Mining and Metallurgy and Mr Penkethman is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Both Mr Buchhorn and Mr Penkethman are full-time employees of Ardea Resources Limited and have sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking 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’. Mr Buchhorn and Mr Penkethman have reviewed this press release and consent to the inclusion in this report of the information in the form and context in which it appears. Mr Buchhorn and Mr Penkethman own Ardea shares.

Ardea wishes to clarify that its current Kalgoorlie Nickel Project (KNP) Mineral Resource Estimate (MRE) following JORC Code (2012) guidelines is:

	Resource Size Ni Co Contained Metal
Camp Prospect
	Category (Mt) (%) (%) Ni(kt) Co(kt)
KNP TOTAL	Measured 22 0.94 0.079 207 17
	Indicated 361 0.73 0.047 2,622 169
	Inferred 471 0.70 0.043 3,272 200
GRAND TOTAL	Combined 854 0.71 0.045 6,101 386

Note: 0.5% nickel cutoff grade used to report resources. Minor discrepancies may occur due to rounding of appropriate significant figures.

The Mineral Resource Estimate information shown in this ASX announcement has been previously released on the ASX platform by Ardea in ASX release 30 June 2023, in accordance with Listing Rule 5.8.

The Ore Reserve information shown in this ASX announcement has been previously released on the ASX platform by Ardea in ASX release 5 July 2023, in accordance with Listing Rule 5.9.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcements noted above and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate and Ore Reserve in the previous market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

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Kalgoorlie Nickel Project included in Federal Government Investor Front Door

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KNP nickel and cobalt Mineral Resource Estimate based on a greater than 0.5% Ni cut-off grade, as at 30 June 2023.

		Resource Size Ni Co Contained Metal Estimation Details
Camp	Prospect
		Category (Mt) (%) (%) Ni(kt) Co(kt) Method Source Year
Goongarrie	Goongarrie South	Measured 18 0.94 0.085 171 15 LUC Ardea 2021 Indicated 82 0.71 0.049 584 40 LUC Ardea 2021 Inferred 10 0.64 0.033 61 3 LUC Ardea 2021
	Highway	Indicated 71 0.69 0.038 487 27 LUC Ardea 2023 Inferred 21 0.67 0.040 141 8 LUC Ardea 2023
	Ghost Rocks	Inferred 47 0.66 0.042 312 20 OK Snowden 2004
	Goongarrie Hill	Indicated 40 0.65 0.037 259 15 LUC Ardea 2021 Inferred 29 0.60 0.025 176 7 LUC Ardea 2021
	Big Four	Indicated 49 0.71 0.047 346 23 LUC Ardea 2021 Inferred 14 0.68 0.043 96 6 LUC Ardea 2021
	Scotia Dam	Indicated 12 0.71 0.065 82 7 LUC Ardea 2021 Inferred 5 0.72 0.043 37 2 LUC Ardea 2021
	Goongarrie Subtotal	Measured 18 0.94 0.085 171 15 Indicated 253 0.69 0.044 1,758 112 Inferred 127 0.65 0.037 823 47 Combined 398 0.69 0.044 2,753 175
Siberia	Siberia South	Inferred 81 0.65 0.033 525 27 OK Snowden 2004
	Siberia North	Indicated 14 0.72 0.042 102 6 Ni(UC) Co(OK) Snowden 2009 Inferred 72 0.74 0.034 534 25 Ni(UC)Co(OK)Snowden 2009
	Black Range	Indicated 9 0.67 0.090 62 8 OK HGMC 2017 Inferred 10 0.69 0.100 68 10 OK HGMC 2017
	Siberia Subtotal	Indicated 24 0.70 0.061 165 14 Inferred 163 0.69 0.038 1,127 61 Combined 186 0.69 0.040 1,292 75 Measured 18 0.94 0.085 171 15 Indicated 277 0.70 0.046 1,923 127 Inferred 289 0.67 0.037 1,951 108 Combined 584 0.69 0.043 4,044 250
KNP Goongarrie	TOTAL
Hub
Bulong	Taurus	Inferred 14 0.84 0.051 119 7 OK Snowden 2007 Indicated 16 1.06 0.055 169 9 OK Snowden 2004 Inferred 24 0.79 0.053 190 13 OK Snowden 2004
	Bulong East
	Bulong Subtotal	Indicated 16 1.06 0.055 169 9 Inferred 38 0.81 0.052 309 20 Combined 54 0.88 0.053 477 29
Hampton	Kalpini	Inferred 75 0.73 0.044 550 33 OK Snowden 2004
	Hampton Subtotal	Inferred 75 0.73 0.044 550 33 Indicated 16 1.06 0.055 169 9 Inferred 114 0.76 0.047 859 53 Combined 130 0.79 0.048 1,028 62
KNP Kalpini Hub	TOTAL
Kalpini Yerilla	Jump Up Dam	Measured 4 0.94 0.048 36 2 OK Snowden 2008 Indicated 42 0.78 0.043 324 18 OK Snowden 2008 Inferred 18 0.63 0.034 116 6 OK Snowden 2008
	Boyce Creek	Indicated 27 0.77 0.058 206 16 OK Snowden 2009
	Aubils	Inferred 49 0.70 0.066 346 33 OK Heron 2008
Kalpini Yerilla Hub TOTAL		Measured 4 0.94 0.048 36 2 Indicated 68 0.78 0.049 531 33 Inferred 68 0.68 0.057 462 39 Combined 140 0.73 0.053 1,028 74
KNP
KNP TOTAL		Measured 22 0.94 0.079 207 17 Indicated 361 0.73 0.047 2,622 169 Inferred 471 0.70 0.043 3,272 200 Combined 854 0.71 0.045 6,101 386
GRAND TOTAL

Legend: LUC – Local Uniform Conditioning; UC – Uniform Conditioning; OK – Ordinary Kriging.

Ardea retains 65% of the Goongarrie Hub (ASX announcement 31 March 2026) and 100% of the Kalpini Yerilla Hub.

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