ASX: ARI

ASX RELEASE: 17 December 2025

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Yundamindra Gold Project, WA – Exploration Update

THICK, HIGH-GRADE GOLD MINERALISATION INTERSECTED 100m BELOW PREVIOUS DRILLING AT PENNYWEIGHT POINT

Initial step-out drilling hits 10m @ 9.02g/t Au including 6m @ 13.87g/t, significantly expanding the high-grade Pennyweight Point system at depth

KEY HIGHLIGHTS

Deep expansional drilling confirms continuity of gold mineralisation down-dip and downplunge along the Pennyweight Point structure. Initial assay results include:
10m @ 9.02g/t Au from 252m (25AYRC148, EOH), including:
- 6m @ 13.87g/t Au from 253m, and,
- 3m @ 19.39g/t Au from 258m
- Importantly, this hole ended in high-grade mineralisation and the full extent of the mineralised zone at this location is currently unconstrained.
25AYRC148 sits 100m vertically below the previous standout intercept in hole 25YMD002:
23.97m @ 2.54g/t Au from 162.03m down-hole (25YMD002), including:
- 5.38m @ 10.62g/t Au from 170.52m
This confirms the presence of mineralization to a vertical depth of 250 metres and still open , with the latest results continuing to build on other previously reported assays, including:
35.76m @ 2.14g/t Au from 104.27m down-hole (25YMD001), including:
- 13.46m @ 5.28g/t Au from 111.40m
14m @ 15.48g/t Au from 46m (YMRC077)
30m @ 3.86g/t Au from 64m (YMRC069)
The results continue to reinforce the importance of Pennyweight Point as a priority focus for further exploration and near-term resource delineation drilling .
The final holes of this program at Pennyweight Point testing for strike and depth extensions to a series of exceptional intersections achieved from previous RC and diamond drilling and several deeper holes at the intersection of Landed at Last and F1 Structures will be completed before wrapping up for the year. Drilling will recommence around the week of 5 January 2026.
~23,000 metres drilled to date as part of the latest program at Yundamindra, with assays awaited for 30 holes totalling 5,500m.

Arika Resources Limited (ASX: ARI) (“Arika” or “Company”) is pleased to report initial assay results from ongoing drilling at the Pennyweight Point prospect within the Yundamindra Gold JV Project , located 65km south-west of Laverton in the world-class Northeastern Goldfields mining district of WA (see Figure 6).

This release provides a summary of results received from the first Reverse Circulation (RC) drill-holes completed (25AYRC136-25AYRC148) as part of a new phase of drilling at the Pennyweight Point prospect, located towards the northern end of the Red Brick Road (RBR) within the Eastern Corridor at Yundamindra (see Figures 1 and 6).

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ABN: 92 086 839 992 www.arika.com.au

Phone: 08 6500 0202 [email protected]

The initial drilling has been designed to test for western extensions to near-surface oxide/supergene gold mineralisation as well as strike, depth and plunge extensions within fresh rock to the Pennyweight Point gold-hosting structure.

The results confirm the continuity of gold mineralisation with each of the holes returning broad zones of low-medium-high grade gold mineralisation with narrower, internal higher-grade intervals at each of the predicted target positions.

Importantly, these new results include exceptional high-grade results from the deepest hole completed to date at the project. Hole 25AYRC148 intersected significant gold mineralisation 100m vertically below previously reported diamond drillhole 25YMD002 (23.97m @ 2.54g/t Au from 162.03m including 5.38m @ 10.62g/t Au from 170.52m). confirming the continuity of mineralisation to at least 300m down-dip or 250m vertical depth below surface. Refer to Figures 1 and 2.

The zone remains open to the north and south along strike as well as at depth, down-dip and down-plunge.

The results include 1m individual assays and 4m composite assays. Anomalous results reported from 4 metre composite samples will be re-split and re-submitted on a 1m basis to refine the distribution of gold mineralisation within each of these samples.

Arika’s Managing Director, Justin Barton, said: “This is a major breakthrough in our ongoing exploration campaign at Yundamindra and a fitting way to wrap up what has been a fantastic year for Arika and a massive effort by our exploration team.

“Hole 25AYRC148 was designed to test for depth extensions to the diamond holes we completed earlier in the year. It is the deepest hole drilled at Pennyweight Point to date and it has confirmed that continuous high- grade mineralisation extends for at least another 100m below the previous limit of drill testing. That’s a staggering outcome and demonstrates the potential size of the emerging system at Pennyweight.

“In addition, this exceptional intercept was reached at the end of the hole, with drilling stopping in highgrade mineralisation due to technical issues. We will be attempting to re-enter and extend the hole however targeted follow-up at these depths and beyond will be undertaken with controlled diamond drilling, The result is a real breakthrough moment in our assessment of the project, highlighting the potential for consistent, thick gold mineralisation of high-grade and tenor to continue to considerable depths. We now know that the Pennyweight Point mineralisation extends to a vertical depth of at least 250 metres, and remains open. The scale is growing and there is very real potential now for Pennyweight Point to offer both open pit and underground mining opportunities.

“Importantly, each of the other holes completed to date have intersected the mineralised position exactly where our modelling predicted, which gives us great confidence moving forward – confirming that our targeting model is working. This means that the mineralised structure is consistent and predictable and, importantly, it remains completely open.

“Drilling is continuing at Pennyweight Point and Landed at Last with recent drill-holes targeting extensions of the spectacular high-grade results reported late last year and earlier this year. With each drill hole, we increase our confidence levels in the geology that hosts the mineralisation at this exciting project, and we are looking forward to reporting further results over the coming weeks.

“We have now drilled over 23,000 metres at Yundamindra as part of our ongoing, systematic exploration campaign with assays for 30 holes totalling 5,500m currently in the laboratory.”

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Figure 1: Schematic Cross-Section 1200mN (local grid) showing latest drilling results in relation to previously reported RC and diamond drill-holes. Note hole 25AYRC148 ended in high-grade gold mineralisation. The full thickness of the mineralised zone at this location is currently unconstrained.

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ASX: ARI

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Figure 2: Vertical Longitudinal Projection showing recent drilling in relation to previously reported intercepts. Note hole 25AYRC148 was terminated in high grade gold mineralisation due to technical drilling issues.

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ABN: 92 086 839 992 www.arika.com.au

Phone: 08 6500 0202 [email protected]

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Figure 3 : 25AYRC148: 10m @ 9.02g/t Au from 252m.

Chip-tray showing high grade gold mineralisation extending from 252m downhole to the end of hole (EOH) at 262m.

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ABN: 92 086 839 992 www.arika.com.au

Phone: 08 6500 0202 [email protected]

ASX: ARI

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Overview

Arika launched an extensive step-out drilling campaign at Yundamindra in June, with over 23,000m drilled to date. The aim of the program is to test the depth and strike extents of multiple known gold occurrences and newly defined targets throughout the Yundamindra area, demonstrating the scale of the opportunity at the project.

Drilling has continued to systematically test multiple gold targets, including:

The ‘Yellow Brick Road’ – Landed at Last Trend within the Western Corridor
The ‘Emerald City Trend’ – South-Central Complex; and
Most recently, along the ‘Red Brick Road’ – Pennyweight Point Trend within the Eastern Corridor.

To date, a total of 178 holes for ~23,000 metres have been completed as part of the program, with assays awaited for 30 holes or approximately 5,500 metres. A summary of drill-hole collar locations and preliminary results for all holes are presented in Appendix 1, Tables 1

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Figure 4 : Red Brick Road, Eastern Corridor at the Yundamindra Gold Project showing key prospect locations, previous intersection summaries,2025 RC and diamond drill-holes, 2024 RC holes and historical drilling, gold-in-soil geochemical anomalies and geophysics structural targets. Please refer to Figure 2 enlargement for recent results.

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ABN: 92 086 839 992 www.arika.com.au

Phone: 08 6500 0202 [email protected]

Figures 1 to 6 present Prospect Location Plans, Drill-hole Collar Plans, Long Section (Vertical Longitudinal Projection), Cross-Sections and Regional Project Location plans respectively.

Background

Yundamindra is dominated by the Danjo Granite Dome in the central-north of the project area and the Bulla Rocks Granite Dome to the west. The domes are flanked to the east and west by attenuated greenstone belts comprising mafic/ultramafic - felsic volcanic complexes occupying NE and NW striking shear zones displaying multiple ~NE-SW striking second and third order linking structures. The eastern and western shear zones converge south of the Danjo dome in the Southern Complex which is characterised by a widespread array of N-S striking, possible axial-planar shears, and major E-W trending cross-cutting faults.

These major structural trends are described as the Yellow Brick Road - Western Corridor, Red Brick Road – Eastern Corridor and Emerald City - South Complex respectively.

Arika’s current drilling along the Red Brick Road, the subject of this release, is focused on testing:

Strike and depth extensions : to confirm the continuity of mineralisation and of key ore-hosting structures well beyond previous intercepts, and:
New targets : First-pass drill testing of newly identified geochemical/geophysical/geological targets.

Drilling Results Summary

Drillhole 25AYRC148 was drilled to test for a depth extension of the PWP ore-hosting structure approximately 80m down-dip from diamond drillhole 25YMD002. Due to hole steepening, the target was reached 20m further down-dip than originally planned to result in a separation down-dip of more than 100m from diamond hole 25YMD002. Technical drilling issues dictated that the hole be terminated prior to penetrating the full width of the mineralised zone which as a consequence currently remains unconstrained at this position. Ground conditions were good for the entirety of the hole beyond the base of complete oxidation.

Hole 25AYRC148 is by far the deepest hole completed at Pennyweight Point and reported a spectacular result of:

10m @ 9.02g/t Au from 252m, including,
6m @ 13.87g/t Au from 255m, and
3m @ 19.39g/t Au from 258m.

The hole will be re-entered and extended however further drilling at similar depths and beyond will be undertaken using controlled diamond drilling techniques.

Drill-holes 25AYRC136/138 and 139 were designed to test for strike and depth extensions and continuity down-dip/plunge of the main PWP ore-hosting structure at shallower depths within the central-north portion of the known zone of mineralisation.

Each of the initial 13 holes successfully encountered broad gold mineralisation within the targeted PWP shear zone, confirming the continuity of gold mineralisation and of the predictive modelling used to identify targets. Additional key intercepts included:

39m @ 0.52g/t Au from 142m (25AYRC136), including:
3m @ 1.79g/t Au from 144m; and
8m @ 1.17g/t Au from 152m
21m @ 0.66g/t Au from 89m (25AYRC138), including:
4m @ 2.37g/t Au from 99m; and

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 1m @ 1.03g/t Au from 106m

o 34m @ 0.42g/t Au from 156m (25AYRC139), including:

8m @ 1.26g/t Au from 160m

Drill-holes 25AYRC137 and 25AYRC140-147 were all drilled to test for western extensions to the nearsurface oxide/supergene zone up-dip of previously reported intercepts.

These holes have successfully extended the zone to the west and provide greater control to the interpretation of the oxide portion of the deposit.

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Figure 5 : Enlargement of the Pennyweight Point area showing recent results in relation to previously reported RC and diamond drilling.over TMI. Latest results are highlighted in red call-out boxes.

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Refer to figures 1-5 which provide a schematic cross-section through hole 25AYRC148, a vertical longitudinal projection (Long Section and drill-hole collar location plans respectively.

Hole orientation information and a summary of significant intersections are presented in Table 1.

Red Brick Road – Eastern Corridor

Discussion

Gold mineralisation along the Red Brick Road has been identified within both granite and mafic rocks, close to the regional contact between the Danjo Granite and a wide sequence of mafic/ultramafic volcanic rocks to the east.

The bedrock geology of interest within the target corridor is largely obscured beneath a blanket of surficial cover, of variable but generally shallow depth including soil and an extensively developed cemented laterite-calcrete hardpan. The depth of weathering is variable but typically in the order of 50m above the mineralised zone.

Recent work by Arika using detailed aeromagnetic imagery, ground gravity and surface IP geophysical surveys has enabled mapping of the ore-hosting structures beyond the known gold occurrences where they are obscured beneath the cover sequence.

At Pennyweight Point, gold occurs within a NE-SW trending, shallow-moderately south-east dipping shear zone developed at the contact between granite (tonalite) and basalt. Gold is typically associated with pyrite, chalcopyrite and pyrrhotite as fine disseminations, stringers and rare coarser blebs.

The ore zone displays chloritization, potassic alteration and minor quartz-carbonate stringers. The sequence is intruded by a series of generally thin, feldspar-phyric dykes which don’t appear to disrupt the mineralised zone.

Next Steps

Yundamindra

Testing of new targets along ‘The Red Brick Road Trend’ – Eastern Corridor identified from the recently completed geophysical surveys over the Pennyweight Point is currently in progress.
Testing of several deeper targets identified at the confluence of the Landed at Last and F1 structures will follow.
Results will be released continuously once data is received and interpreted.

Yundamindra Gold Project

The Yundamindra Gold JV Project is located 65km south-west of Laverton, 250km north of Kalgoorlie, Western Australia (Figure 8). The Project is a Joint Venture between Arika Resources Ltd (ASX: ARI) and Nex Metals (ASX: NME), where Arika holds 80% and NME holds 20% with Arika acting as Project manager.

Regionally, it is situated toward the westernmost margin of the Laverton Greenstone Belt (LGB) in the Yilgarn Craton of Western Australia.

The Laverton Greenstone Belt is one of the best endowed gold regions in Australia. It hosts two world-class producing mines, namely Sunrise Dam at 8 million oz contained Gold and Wallaby at 7 million oz contained gold (Standing 2008; Austin, 2022)[1] , which are located just ~20-30km east of Arika’s Yundamindra Gold

2 Standing, Jonathon G, Terrane Amalgamation in the Eastern Goldfields Superterrane, Yilgarn Craton: Evidence from tectonostratigraphic studies of the Laverton Greenstone Belt. Precambrian Research, V161, Issues 1-2, 15 February 2008, pages 114-134.. Austin, Joseph Martin, Testing the ‘terrane-boundary’ concept and geodynamics in the NeoArchean: A cse study of the stratigraphy from the West and East Laverton Greenstone Belts. Queensland University of Technology 2022. 134.. Austin, Joseph Martin, Testing the ‘terrane-boundary’ concept and geodynamics in the NeoArchean: A cse study of the stratigraphy from the West and East Laverton Greenstone Belts. Queensland University of Technology 2022.

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Project. Total gold production from the belt is estimated to be in excess of 28 million ounces.

The Laverton Greenstone Belt is one of several greenstone belts that collectively define the Kurnalpi tectonostratigraphic terrane of the Northeastern Goldfields ‘Superterrane’.

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Figure 6 : Yundamindra Gold Project showing key target areas and prospects over regional and local TMI. The Kurnalpi Terrane is bounded by the regionally recognisable Hootanui Shear Zone to the east and the

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Ockerburry Shear Zone to the west – long-lived, deep crustal/mantle penetrating structures which, along with their related second order faults, are considered responsible for the development of many of the region’s most significant gold deposits.

At the local scale, the Yundamindra Project covers both the south-western and south-eastern flanks and the southern nose of the Danjo Granite Dome, a hornblende-granodiorite batholith which intruded mafic/ultramafic-felsic and lesser sedimentary lithologies.

This style of structural setting is commonly associated with the development of many of the region’s most significant gold deposits. Although the area has had a long history of prospect-scale mining, it has not been subjected to systematic modern exploration and remains under-explored, particularly at depth.

This presents ARI with a unique opportunity to discover significant mineralisation near several processing facilities.

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Figure 7: Regional Location Plan showing proximity of Projects to Major Deposits, Mines and Processing Facilities.

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This announcement is approved by the Board of Arika Resources Limited.

ENQUIRIES

Investors Media Justin Barton Nicholas Read Managing Director Managing Director Arika Resources Ltd Read Corporate +61 8 6500 0202 +61 8 9388 1474 [email protected] [email protected]

Competent Person Statement

The information that relates to Exploration Results is based upon information compiled by Mr Steve Vallance, who is a full-time employee of Arika Resources Ltd in the role of General Manager Exploration and Executive Technical Director. Mr Vallance is a Member of The Australian Institute of Geoscientists (AIG). Mr Vallance has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is 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” (the JORC Code 2012). Mr Vallance consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statements

This announcement may contain certain “forward-looking statements” which may not have been based solely on historical facts but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have reasonable basis. However, forward-looking statements: (a) are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies.

(b) involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such risks include, without limitation, resource risk, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which the Company operates or supplies or sells product to, and governmental regulation and judicial outcomes; and

(c) may include, among other things, statements regarding estimates and assumptions in respect of prices, costs, results and capital expenditure, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements.

All forward-looking statements contained in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward-looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

The Company disclaims any intent or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise.

No New Information

To the extent that this announcement contains references to prior exploration results which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.

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About Arika Resources Limited

We are focused on delivering value to shareholders through the development and discovery of high-quality gold assets, including the Kookynie and Yundamindra Gold Projects, in Western Australia.

Arika Resources Limited is continuing to build on the potential large-scale gold footprints at the Yundamindra and Kookynie Gold Projects by expanding on known mineralisation and targeting new discoveries through a pipeline of high priority brownfield and greenfield targets.

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Appendix One – Significant Intercepts and Collars

Significant intercepts in the table below were calculated on a length weighted average basis.

Each RC hole drilled by Arika was sampled in its entirety from start to finish using a combination of 2m or 4m composites and1m individual samples. For diamond drillholes the diamond cored section of each hole was sampled in its entirety from the start of each cored section to end of hole with sampling guided by geological observations and maximum sample lengths generally not exceeding 1m.

For the low-grade envelope this was based on a 1m sample returning an assay value of greater than 0.1 g/t Au and for the high-grade zone, based on internal intervals reporting assays greater than 0.5 g/t Au, 5.0g/t Au and 10.0 g/t Au respectively. The maximum width of internal waste was generally 4m however the mineralised intervals are based on geological observations and current interpretation. Consequently, in some instances a broader interval of internal waste, interpreted as a ‘horse’ of limited dip and strike extent may be carried in order to honour the true nature of the ore hosting structure as defined by adjacent drillholes at that location.

No top cut-off was applied due to the early nature of the assessment.