ASTRAL RESOURCES NL — Capital/Financing Update 2025

Sep 7, 2025

ASX Announcement ASX: AAR 8 SEPTEMBER 2025

WIDE BEDROCK GOLD INTERSECTED BENEATH THE 8500N PALAEOCHANNEL DEPOSIT AT SPARGOVILLE

Broad gold intercepts including 26m at 2.0g/t, 20m at 1.37g/t, 10m at 1.43g/t and 10m at 1.14g/t, demonstrate a consistent core of gold mineralisation over a 300m strike length

HIGHLIGHTS

Spargoville Project

• 76-hole (11,744-metre) reverse circulation ( RC ) drill program completed at Spargoville Gold Project, the first drill program undertaken by Astral since its acquisition of Maximus Resources in May 2025.

• Spargoville, which abuts Astral’s flagship Mandilla Project, south of Kalgoorlie, supports Astral’s multi-project gold strategy.

• A central zone of thick, high-grade bedrock mineralisation over 300m strike in felsic volcaniclastic rocks below 8500N Palaeochannel mineralisation suggests potential to expand the current Mineral Resource beyond the 0.5Mt at 1.3g/t Au for 19koz of contained gold[1]

• Drilling has also been undertaken along the Trapdoor-Lindsay’s Reward gold trend and Eagles Nest Deposit, with assay results pending.

• Assay results received for the first 23 holes (3,420 metres) with best results including: 8500N Deposit

• 18 metres at 0.80g/t Au from 73m, 11 metres at 1.19g/t Au from 95m and 26 metres at 2.00g/t Au from 111m in hole SGRC006;

• 20 metres at 1.37g/t Au from 43m and 13 metres at 1.24g/t Au from 111m in hole SGRC004;

• 10 metres at 1.43g/t Au from 54m and 7 metres at 0.86g/t Au from 178m in hole SGRC007;

• 10 metres at 1.42g/t Au from 77m in hole SGRC012;

• 9 metres at 0.98g/t Au from 77m and 12 metres at 0.67g/t Au from 112m in hole SGRC005;

• 11 metres at 0.83g/t Au from 138m in hole SGRC002; and

• 3 metres at 2.32g/t Au from 105m in hole SGRC011;

Karramindie Prospect

• 1 metre at 8.66g/t Au from 50m in hole AMRC020;

• 9 metres at 0.91g/t Au from 60m in hole AMRC014;

1 - Spargoville JORC 2012 Mineral Resource Estimate: 0.1Mt at 1.1g/t Au for 4koz Indicated Mineral Resources and 0.3Mt at 1.4g/t Au for 15koz Inferred Mineral Resources at 8500N as part of the Wattle Dam Project MRE: 1.4Mt at 1.2g/t Au for 54koz Indicated Mineral Resources and 0.8Mt at 1.5g/t Au for 37koz Inferred Mineral Resources (refer to Astral ASX announcement dated 7 May 2025)

Astral Resources

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• 8 metres at 0.87g/t Au from 35m in hole AMRC018;

• 7 metres at 0.86g/t Au from 91m in hole AMRC017; and

• 6 metres at 0.86g/t Au from 59m in hole AMRC021.

Mandilla Project

• In-fill drilling is continuing at the cornerstone Theia Deposit, with the 99-hole/10,000-metre program now 25% complete.

• In addition to the Theia in-fill program, exploratory RC drilling is planned to bridge the current known extents of mineralisation south of Theia and north of Iris.

• Diamond drilling targeting high-grade shear-hosted gold mineralisation within and immediately adjacent to the Theia Deposit remains on track to commence early in the December Quarter.

KOMIR Joint Venture

• A 21-hole (2,500-metre) RC program has commenced on behalf of the joint venture with KOMIR ( KOMIR JV ) to investigate lithium-pegmatite targets identified from a previously completed geochemical survey across the tenure.

Astral Resources’ Managing Director Marc Ducler said :

“Since acquiring Maximus Resources in May, we are pleased to have completed Astral’s inaugural drilling program at Spargoville comprising 76 holes for 11,744 metres.

“As a first pass program on a substantial portfolio of deposits and targets, these new assay results provide real encouragement.

“It should be remembered that the Wattle Dam Gold Mine, which produced 266,000 ounces of gold at 10.6g/t, was approximately 10 metres wide by only 50 metres in strike length, indicating that very valuable deposits can be found in this area with very small mineralisation signatures.

“This initial program was designed as an initial test of several targets identified from previous work.

“The results from the fresh rock drill tests at 8500N are very encouraging and highlight the potential to add significantly to the existing shallow Mineral Resources currently estimated.

“Assay results are still pending for 53 holes for 8,324 metres at the Trapdoor – Lindsay’s Reward gold trend and the Eagles Nest deposit, and following the positive news received so far, we are eagerly awaiting these.

“With the gold-focused exploration program at Spargoville completed on 1 September, the RC rig commenced a 21-hole/2,500-metre drill program focused on lithium-pegmatite targets identified from a previously completed geochemical survey across the tenure encompassing the KOMIR JV.

“Meanwhile, at Mandilla, in-fill drilling at Theia is continuing with 25 holes for 2,732 metres completed, approximately 25% of the 10,000-metre program, with assays pending.”

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Astral Resources NL (ASX: AAR) ( Astral or the Company ) is pleased to report assay results for a 23hole (3,420-metre) RC drill program, part of a broader 76-hole (11,744-metre) program, at the 100%owned Spargoville Gold Project ( Spargoville ), located approximately 70km south of Kalgoorlie in Western Australia (Figure 1).

Drilling at Spargoville by Astral commenced in June 2025, targeting multiple high-priority areas including the Karramindie and Trapdoor–Lindsays Reward prospects, as well as follow-up drilling at the Eagles Nest and 8500N deposits.

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Figure 1 – Map illustrating the location of the Mandilla, Spargoville and Feysville Gold Projects.

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SPARGOVILLE GOLD PROJECT

The Spargoville Gold Project is located in the Coolgardie Domain within the Kalgoorlie Terrane, adjacent to Mandilla and approximately 25 km south-west of Kambalda and approximately 20km west of Gold Fields Limited +20-million-ounce St Ives gold camp.

The greenstone stratigraphy of the Kalgoorlie Terrane can be divided into three main units:

1. Predominantly mafic to ultramafic units of the Kambalda Sequence, with these units including the Lunnon Basalt, Kambalda Komatiite, Devon Consols Basalt, and Paringa Basalt;

2. Intermediate to felsic volcaniclastic sequences of the Kalgoorlie Sequence, represented by the Black Flag Group; and

3. Siliciclastic packages of the late basin sequence known as the Merougil Beds.

The Paringa Basalt, or Upper Basalt, is less developed within the Coolgardie Domain, but similar mafic volcanic rocks with comparable chemistry are found in the Wattle Dam area. Slices of the Kambalda Sequence referred to as the Burbanks and Hampton Formations, are believed to represent thrust slices within the Kalgoorlie Sequence.

Multiple deformational events have affected the Kalgoorlie Terrane, with at least five major regional deformational events identified. Granitoid intrusions associated with syntectonic domains are found in the Wattle Dam area, including the Depot Granite and the Widgiemooltha Dome.

Domed structures associated with granitoid emplacement are observed in the St Ives camp, with deposition of the Merougil Beds and emplacement of porphyry intrusions occurring during extensional deformation. Gold occurrences associated with the Zuleika and Spargoville shears are representative of deposits that formed during sinistral transpression on north-west to north-north-west trending structures.

The Spargoville Gold Project comprises several advanced gold prospects and deposits, including Wattle Dam, Eagles Nest, Larkinville, Hilditch and 5B.

As of May 2025, the combined Mineral Resource Estimate ( MRE ) for Spargoville is 3Mt at 1.4g/t Au for 139koz of contained gold[2] .

The Wattle Dam Gold Project, which accounts for 2.1Mt at 1.3g/t Au for 91koz of the total MRE, includes the Redback, Golden Orb, Trapdoor, Huntsman, Wattle Dam Stockwork, S5, and 8500N deposits.

In June 2025, Astral announced the results of a Preliminary Feasibility Study for Mandilla ( Mandilla PFS ) which – based on a standalone project comprising seven open pit mines (four from Mandilla and three from Feysville) feeding a 2.75Mtpa processing facility, producing 95koz per year for the first 12 years, and incorporating a gold price of A$4,250/oz – has a Net Present Value (8% discount rate) of $1.4 billion[3] .

Having only been acquired just prior to completion of the Mandilla PFS, the Spargoville Gold Project was not included as part of the Study.

2 - Spargoville JORC 2012 Mineral Resource Estimate: 1.9Mt at 1.3g/t Au for 81koz Indicated Mineral Resources and 1.1Mt at 1.6g/t Au for 58koz Inferred Mineral Resources. See ASX announcement 7 May 2025.

3 - Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025)

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A map of Spargoville illustrating both the local area geology and gold deposits is set out in Figure 2.

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Figure 2 – Map of Spargoville Gold Project identifying gold deposits on local area geology.

8500N RC DRILL RESULTS

The 8500N Deposit, which is located approximately 600 metres north of the historic Wattle Dam Gold Mine, hosts an MRE of 0.5Mt at 1.3g/t Au for 19koz of contained gold[1] .

The deposit is hosted within north-south striking felsic volcaniclastics, flanked to the east and west by ultramafic-mafic volcanic sequences. Gold mineralisation occurs within both the felsic and ultramafic units, with an additional modelled paleochannel resource situated approximately 10 metres below surface.

The recent drilling campaign, which consisted of 12 holes for 2,186 metres, targeted the primary bedrock mineralisation beneath the shallow paleochannel and supergene profile. Drilling tested an 800-

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metre strike length across the 8500N deposit, aiming to improve geological confidence and assess the continuity of primary mineralisation along strike to the north.

A map showing the drill-hole collar locations on local area geology is presented in Figure 3.

==> picture [491 x 492] intentionally omitted <==

Figure 3 – Map of the 8500N Deposit illustrating drill collar locations of recent and historical drilling on local area geology.

Best assay results include:

• 18 metres at 0.80g/t Au from 73m, 11 metres at 1.19g/t Au from 95m and 26 metres at 2.00g/t Au from 111m in hole SGRC006;

• 20 metres at 1.37g/t Au from 43m and 13 metres at 1.24g/t Au from 111m in hole SGRC004;

• 10 metres at 1.43g/t Au from 54m and 7 metres at 0.86g/t Au from 178m in hole SGRC007;

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• 10 metres at 1.42g/t Au from 77m in hole SGRC012;

• 9 metres at 0.98g/t Au from 77m and 12 metres at 0.67g/t Au from 112m in hole SGRC005;

• 11 metres at 0.83g/t Au from 138m in hole SGRC002; and

• 3 metres at 2.32g/t Au from 105m in hole SGRC011;

Primary mineralisation at 8500N occurs along the eastern ultramafic-felsic volcaniclastic contact, with a separate lode hosted entirely within the felsic volcaniclastic sequence. Where mineralisation is present, gold is associated with minor quartz veining.

A cross-section illustrating drill-hole SGRC006 is set out in Figure 4 (see Figure 3 for section location).

==> picture [496 x 387] intentionally omitted <==

Figure 4 – Cross-section through 8500N illustrating drill trace, assay results and geological interpretation (see Figure 3 for section location).

As illustrated, drilling has confirmed a thick, high-grade core of mineralisation within the felsic volcaniclastics, centred around SGRC006. Additionally, mineralisation has been shown to continue northwards along strike of the ultramafic–felsic volcaniclastic contact, as demonstrated by hole SGRC012.

The drill program has the potential to significantly increase the Mineral Resources at the 8500N deposit.

Further infill and extensional drilling is currently being planned at the 8500N deposit.

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KARRAMINDIE RC DRILL RESULTS

The Karramindie Prospect is located adjacent to a north-south striking ultramafic-sediment contact on the border of mining tenements M15/96 (Mandilla Gold Project) and M15/395 (Spargoville Gold Project).

Historical RC drilling beneath shallow costeans returned high-grade intercepts, including 4 metres at 7.10g/t Au from 52m . Despite the encouraging results, no follow-up drilling had been undertaken, potentially doe to the Prospect’s location.

With the adjacent tenements now under Astral’s ownership, this presented the opportunity to undertake a follow-up drill program to assess the continuity of mineralisation across the tenement boundary.

A total of 11 RC holes for 1,234 metres were drilled along a strike length of approximately 350 metres. Seven holes were drilled with the primary aim being to test beneath historical drill-holes to better understand the geometry and style of mineralisation.

Four holes were drilled along strike to the north to evaluate the potential for mineralised extensions.

A map showing the drill-hole collar locations on local area geology is presented in Figure 5.

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==> picture [497 x 496] intentionally omitted <==

Figure 5 – Map of the Karramindie Prospect illustrating drill collar locations of recent and historical drilling on local area geology.

Best assay results include:

• 1 metre at 8.66g/t Au from 50m in hole AMRC020;

• 9 metres at 0.91g/t Au from 60m in hole AMRC014;

• 8 metres at 0.87g/t Au from 35m in hole AMRC018;

• 7 metres at 0.86g/t Au from 91m in hole AMRC017; and

• 6 metres at 0.86g/t Au from 59m in hole AMRC021.

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Gold mineralisation is hosted within quartz veins that are sub-parallel with sediment stratigraphy, dipping 60° towards 270°. Mineralisation is reasonably consistent along strike, interpreted as structurally controlled within the same mineralising corridor as Astral’s Hestia Deposit.

Further assessment of Karramindie will be made once all assays are received from the broader Spargoville programme.

EXPLORATION UPDATE

RC drilling has commenced as part of a 21-hole (2,500-metre) lithium exploration program on behalf of the KOMIR JV.

At Theia, a second RC rig is continuing a program of in-fill drilling, with a 99-hole (10,000-metre) drill currently underway.

The program is designed to achieve a 12-metre by 12-metre drill spacing over an 80-metre by 120metre area, drilling to a maximum hole depth of 150 metres within a portion of the Stage 1 pit as proposed in the recently completed PFS.

This close-spaced pattern was chosen to mimic a potential grade control pattern and provide similar data density to allow grade modelling simulation exercises that can assist future mine planning work.

To date, 25 of the 99 holes have been completed. Assay results are pending.

Following completion of the RC programmes at Mandilla and Spargoville, the RC rig will return to Feysville to complete a 17-hole (3,000-metre) program at Kamperman and a 30-hole (4,000-metre) regional program.

A diamond drill rig is also planned to commence a 3,000-metre program targeting high-grade structures within the Theia deposit.

This program is expected to commence early in the December Quarter, 2025.

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CONSOLIDATED MINERAL RESOURCE & ORE RESERVE ESTIMATES

Group Ore Reserve Estimates

The Group’s consolidated JORC 2012 Ore Reserve Estimate as at the date of this report is detailed in Table 1 below.

Table 1 – Group Ore Reserves

Project	Probable	Probable	Probable	Total Ore Reserve	Total Ore Reserve	Total Ore Reserve
	Tonnes	Grade	Metal	Tonnes	Grade	Metal
	(Mt)	(Au g/t)	(oz Au)	(Mt)	(Au g/t)	(oz Au)
Mandilla4	34.3	0.9	1,000,000	34.3	0.9	1,000,000
Feysville4	2.3	1.2	88,000	2.3	1.2	88,000
Total	36.6	0.9	1,082,000	36.6	0.9	1,082,000
Ore Reserves are	a subset of Mineral Resources.
Ore Reserves are	estimated using a gold price of AUD $3,000 per ounce.
The preceding statement of Ore Reserves conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures.
The Ore Reserves for Mandilla are reported at a cut-off grade of 0.30 g/t Au lower cut-off and Feysville are reported at a cut-off grade of 0.40 g/t Au lower cut-off.

Group Mineral Resource Estimates

The Group’s consolidated JORC 2012 Mineral Resource Estimate as at the date of this report is detailed in Table 2 below.

Table 2 – Group Mineral Resources

Project	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total Mineral Resource	Total Mineral Resource	Total Mineral Resource
	Tonnes	Grade	Metal	Tonnes	Grade	Metal	Tonnes	Grade	Metal
	(Mt)	(Au g/t)	(oz Au)	(Mt)	(Au g/t)	(oz Au)	(Mt)	(Au g/t)	(oz Au)
Mandilla5	31	1.1	1,034,000	11	1.1	392,000	42	1.1	1,426,000
Feysville6	4	1.3	144,000	1	1.1	53,000	5	1.2	196,000
Spargoville7	2	1.3	81,000	1	1.6	58,000	3	1.4	139,000
Total	36	1.1	1,259,000	14	1.2	502,000	50	1.1	1,761,000
The preceding statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures
The Mineral Resources for Mandilla, Feysville and Spargoville are reported at a cut-off grade of 0.39 g/t Au lower cut-off and is constrained within pit shells derived using a gold price of AUD $3,500 per ounce for Mandilla and Spargoville and AUD$2,500 per ounce for Feysville.

4 - Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025)

5 - Mandilla JORC 2012 Mineral Resource Estimate: 31Mt at 1.1g/t Au for 1,034koz Indicated Mineral Resources and 11Mt at 1.1g/t Au for 392koz Inferred mineral Resources (refer to Astral ASX announcement dated 3 April 2025)

6 - Feysville JORC 2012 Mineral Resource Estimate: 4Mt at 1.3g/t Au for 144koz Indicated Mineral Resources and 1Mt at 1.1g/t Au for 53koz Inferred Mineral Resources (refer to Astral ASX announcement dated 1 November 2024).

7 - Spargoville JORC 2012 Mineral Resource Estimate: 2Mt at 1.3g/t Au for 81koz Indicated Mineral Resources and 1Mt at 1.6g/t Au for 58koz Inferred Mineral Resources (refer to Astral ASX announcement dated 7 May 2025).

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APPROVED FOR RELEASE

This announcement has been authorised for release by the Managing Director.

For further information:

Investors Media Marc Ducler Managing Director Astral Resources +61 8 9382 8822

Nicholas Read Read Corporate +61 419 929 046

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Competent Person’s Statements

Mandilla

The information in this announcement that relates to exploration targets and exploration results for the Mandilla Gold Project is based on, and fairly represents, information and supporting documentation compiled by Ms Julie ‐ Reid, who is a full time employee of Astral Resources NL. Ms Reid is a Competent Person and a Member of The Australasian Institute of Mining and Metallurgy. Ms Reid 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’. Ms Reid consents to the inclusion in this report of the material based on this information, in the form and context in which it appears.

The information in this announcement that relates to the Ore Reserves for the Mandilla Gold Project were announced in the Company’s ASX announcement dated 25 June 2025 titled “Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 25 June 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

The information in this announcement that relates to the Mineral Resources for the Mandilla Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 3 April 2025 titled "Group Mineral Resource Increases to 1.62 million ounces with Indicated Resources at the Mandilla Gold Project Exceeding One Million Ounces". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 3 April 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

The information in this announcement that relates to metallurgical test work for the Mandilla Gold Project reported in this announcement were announced in the Company’s ASX announcements dated 28 January 2021, 6 June 2022, 17 September 2024 and 5 March 2025. The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcements dated 28 January 2021, 6 June 2022, 17 September 2024 and 5 March 2025 and all material assumptions and technical parameters in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

Feysville

The information in this announcement that relates to exploration targets and exploration results for the Feysville Gold Project is based on, and fairly represents, information and supporting documentation compiled by Ms Julie ‐ Reid, who is a full time employee of Astral Resources NL. Ms Reid is a Competent Person and a Member of The Australasian Institute of Mining and Metallurgy. Ms Reid 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’. Ms Reid consents to the inclusion in this report of the material based on this information, in the form and context in which it appears.

The information in this announcement that relates to the Ore Reserves for the Feysville Gold Project were announced in the Company’s ASX announcement dated 25 June 2025 titled “Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 25 June 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

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The information in this announcement that relates to the Mineral Resources for the Feysville Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 1 November 2024 titled "Astral's Group Gold Mineral Resource Increases to 1.46Moz with Updated Feysville MRE". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 1 November 2024 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

The information in this announcement that relates to metallurgical test work for the Feysville Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 22 May 2025. The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 22 May 2025 and all material assumptions and technical parameters in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

Spargoville

The information in this announcement that relates to exploration targets and exploration results for the Spargoville Gold Project is based on, and fairly represents, information and supporting documentation compiled by Ms Julie ‐ Reid, who is a full time employee of Astral Resources NL. Ms Reid is a Competent Person and a Member of The Australasian Institute of Mining and Metallurgy. Ms Reid 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’. Ms Reid consents to the inclusion in this report of the material based on this information, in the form and context in which it appears.

The information in this announcement that relates to the Mineral Resources for the Spargoville Gold Project were announced in the Company’s ASX announcement dated 7 May 2025 titled "Astral's Group Gold Mineral Resource Increases to 1.76Moz with the inclusion of Spargoville Gold Project". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 7 May 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au.

Previously Reported Results

Exploration Results

The information in this announcement that relates to Exploration Results is extracted from the ASX Announcements (Original Announcements), which have been previously announced on the Company’s ASX Announcements Platform and the Company’s website at www.astralresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Original Announcements and that all material assumptions and technical parameters underpinning the estimates in the Original 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 announcement.

Pre-Feasibility Study

The information in this announcement that relates to the production target for the Mandilla Gold Project was reported by Astral in accordance with ASX Listing Rules and the JORC Code (2012 edition) in the announcement “Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve" released to the ASX on 25 June 2025. A copy of that announcement is available at www.asx.com.au. Astral confirms it is not aware of any new information or data that materially affects the information included in that market announcement and that all material assumptions and technical parameters underpinning the production target, and the related forecast financial information

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derived from the production target in that market announcement continue to apply and have not materially changed. Astral confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.

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 a reasonable basis.

However, forward looking statements are subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward looking statements. Such risks include, but are not limited to exploration risk, resource risk, metal 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 we operate, and government regulation and judicial outcomes.

For more detailed discussion of such risks and other factors, see the Company’s other filings. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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Appendix 1 – Drill Hole Details

Spargoville Gold Project

Table 3 – Drill hole data

Hole ID	Type	Hole Depth (m)	GDA (North)	GDA (East)	GDA RL	Dip	MGA Azmith
AMRC012	RC	84.0	6,530,875	357,943	352.2	-60	90
AMRC013	RC	80.0	6,530,875	357,903	352.2	-60	90
AMRC014	RC	146.0	6,530,815	357,912	352.2	-60	90
AMRC015	RC	152	6,530,775	357,912	352.2	-60	90
AMRC016	RC	146	6,530,735	357,911	352.2	-60	90
AMRC017	RC	146	6,530,695	357,913	352.2	-60	90
AMRC018	RC	126	6,530,655	357,919	352.2	-60	90
AMRC019	RC	84	6,530,590	357,985	352.2	-60	90
AMRC020	RC	108	6,530,590	357,945	352.2	-60	90
AMRC021	RC	84	6,530,915	357,943	352.2	-60	90
AMRC022	RC	78	6,530,915	357,903	352.2	-60	90
SGRC001	RC	108	6,528,248	356,481	336.0	-60	90
SGRC002	RC	180	6,528,249	356,339	338.4	-60	90
SGRC003	RC	156	6,528,268	356,341	338.4	-60	90
SGRC004	RC	168	6,528,539	356,369	337.5	-60	90
SGRC005	RC	180	6,528,539	356,335	338.2	-60	90
SGRC006	RC	210	6,528,580	356,336	338.1	-60	90
SGRC007	RC	200	6,528,619	356,301	338.6	-60	90
SGRC008	RC	240	6,528,701	356,248	339.3	-60	90
SGRC009	RC	198	6,528,779	356,269	338.7	-60	90
SGRC010	RC	186	6,528,857	356,262	338.8	-60	90
SGRC011	RC	186	6,528,934	356,260	338.9	-60	90
SGRC012	RC	174	6,529,018	356,223	339.6	-60	90

Table 4 – Drilling Intersections

Hole ID	Location	From (m)	To (m)	Length (m)	Grade g/t Au
AMRC012	Karramindie	53	55	2	0.37
		61	64	3	0.43
AMRC013	Karramindie	56	60	4	0.53
		62	66	4	0.33
		77	78	1	0.39
AMRC014	Karramindie	21	22	1	0.46
		46	47	1	1.69
		60	69	9	0.91
		75	78	3	1.43
		89	90	1	0.47

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AMRC015	Karramindie	28	29	1	0.62
		37	39	2	0.34
		45	47	2	1.31
		78	79	1	0.87
		88	89	1	1.09
AMRC016	Karramindie	38	39	1	0.35
		69	71	2	0.34
		87	91	4	0.69
		106	108	2	0.84
		114	116	2	0.49
AMRC017	Karramindie	34	36	2	0.63
		47	51	4	0.44
		53	56	3	0.64
		65	66	1	1.00
		91	98	7	0.86
		103	104	1	1.72
AMRC018	Karramindie	8	9	1	0.49
		23	30	7	0.28
		35	43	8	0.87
		48	50	2	2.06
		56	59	3	0.45
		87	95	8	0.42
		107	108	1	0.55
AMRC019	Karramindie	0	1	1	0.22
		4	6	2	0.34
		20	21	1	0.44
		52	54	2	0.64
AMRC020	Karramindie	18	21	3	0.47
		43	47	4	0.34
		50	51	1	8.66
		81	84	3	0.42
AMRC021	Karramindie	0	3	3	0.27
		59	65	6	0.86
AMRC022	Karramindie	49	50	1	0.38
SGRC001	8500N	50	54	4	0.44
SGRC002	8500N	138	149	11	0.83
		177	179	2	0.52
SGRC003	8500N	109	113	4	0.32
		127	130	3	0.43
		147	151	4	0.31
SGRC004	8500N	0	1	1	0.71

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		43	63	20	1.37
		78	86	8	0.52
		111	124	13	1.24
		154	159	5	0.42
SGRC005	8500N	41	42	1	0.57
		67	72	5	0.67
		77	86	9	0.98
		96	100	4	0.62
		112	124	12	0.67
		129	139	10	0.42
		145	146	1	1.51
SGRC006	8500N	73	91	18	0.80
		95	106	11	1.19
		111	137	26	2.00
		145	150	5	0.52
SGRC007	8500N	54	64	10	1.43
		125	130	5	0.37
		178	185	7	0.86
SGRC008	8500N	80	87	7	0.65
		105	110	5	0.45
		135	138	3	0.74
		159	160	1	0.83
		184	185	1	0.86
SGRC009	8500N	39	41	2	0.43
		65	66	1.0	0.40
		78	79	1.0	0.69
		94	96	2.0	1.05
		134	135	1.0	1.61
		152	154	2.0	0.46
SGRC010	8500N	31	35	4.0	0.75
		41	43	2.0	0.89
		84	86	2.0	0.68
		119	126	7.0	0.63
		132	133	1.0	1.05
		174	176	2.0	0.66
SGRC011	8500N	37	38	1.0	0.81
		105	108	3.0	2.32
SGRC012	8500N	77	87	10.0	1.42

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Appendix 2 – JORC 2012 Table 1

Spargoville Gold Project

Section 1 – Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	The project has been sampled using industry standard drilling techniques including diamond drilling (DD), and reverse circulation (RC) drilling and air-core (AC) drilling. The sampling described in this release has been carried out on the 2025 RC drilling. The RC holes were drilled and sampled. The samples are collected at 1m intervals via a cyclone and splitter system and logged geologically. A four-and-a-half-inch RC hammer bit was used ensuring plus 20kg of sample collected per metre. All RC samples were collected in bulka bags in the AAR compound and trucked weekly to ALS in Kalgoorlie via Hannans Transport. All samples transported were submitted for analysis. Transported material of varying thickness throughout the project was generally selectively sampled only where a paleochannel was evident. All samples were assayed by ALS with company standards blanks and duplicates inserted at 25 metre intervals. Historical - The historic data has been gathered by a number of owners since the 1990s. There is a lack of detailed information available pertaining to the equipment used, sample techniques, sample sizes, sample preparation and assaying methods used to generate these data sets. Down hole surveying of the drilling where documented has been undertaken using and magnetic multi-shot tools and gyroscopic instrumentation. All Reverse Circulation (RC) drill samples were collected through a cyclone and cone splitter. Average weight 2.5 – 3 kg sample. All Aircore samples were laid out in 1 metre increments and a representative 500 – 700 gram spear sample was collected from each pile and composited into a single sample every 4 metres. Average weight 2.5 – 3 kg sample.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	All RC holes were drilled using face sampling hammer reverse circulation technique with a four-and-a-half inch bit.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Definitive studies on RC recovery at Spargoville have not been undertaken systematically, however the combined weight of the sample reject and the sample collected indicated recoveries in the high nineties percentage range. Poor recoveries are recorded in the relevant sample sheet. No assessment has been made of the relationship between recovery and grade. Except for the top of the hole, while collaring there is no evidence of excessive loss of material and at this stage no information is available regarding possible bias due to sample loss. RC: RC face-sample bits and dust suppression were used to minimise sample loss. Drilling airlifted the water column above the bottom of the hole to ensure dry sampling. RC samples are collected through a cyclone and cone splitter, the rejects deposited on the ground, and the samples for the lab collected to a total mass optimised for photon assay (2.5 to 4 kg). Poor recoveries are recorded in the relevant sample sheet.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level	All chips and drill core were geologically logged by company geologists, using theircurrent companylogging scheme. Themajority

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	of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	of holes (80%+) within the mineralised intervals have lithology information which has provided sufficient detail to enable reliable interpretation of wireframe. The logging is qualitative in nature, describing oxidation state, grain size, an assignment of lithology code and stratigraphy code by geological interval. RC: Logging of RC chips records lithology, mineralogy, mineralisation, weathering, colour and other features of the samples. All samples are wet-sieved and stored in a chip tray.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	RC holes were drilled and sampled. The samples are collected at 1m intervals via a cyclone and splitter system and logged geologically. A four-and-a-half inch RC hammer bit was used ensuring plus 20kg of sample collected per metre. Wet samples are noted on logs and sample sheets. Recent RC drilling collects 1 metre RC drill samples that are channelled through a rotary cone-splitter, installed directly below a rig mounted cyclone, and an average 2-3 kg sample is collected in pre-numbered calico bags, and positioned on top of the rejects cone. Wet samples are noted on logs and sample sheets. Standard Western Australian sampling techniques applied. There has been no statistical work carried out at this stage. ALS assay standards, blanks and checks were inserted at regular intervals. Standards, company blanks and duplicates were inserted at 25 metre intervals. RC: 1 metre RC samples are split on the rig using a cone-splitter, mounted directly under the cyclone. Samples are collected to 2.5 to 4kg which is optimised for photon assay. Sample sizes are appropriate to the grain size of the material being sampled. Unable to comment on the appropriateness of sample sizes to grain size on historical data as no petrographic studies have been undertaken. Sample sizes are considered appropriate to give an indication of mineralisation given the particle size and the preference to keep the sample weight below a targeted 4kg mass which is the optimal weight to ensure representative sample for photon assay. There has been no statistical work carried out at this stage.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Photon Assay technique at MinAnalytical Laboratory Services/ALS, Kalgoorlie and Intertek, Maddington. Samples submitted for analysis via Photon assay technique were dried, crushed to nominal 85% passing 2mm, linear split and a nominal 500g sub sample taken (method code PAP3512R) The 500g sample is assayed for gold by PhotonAssay (method code PAAU2) along with quality control samples including certified reference materials, blanks and sample duplicates. The MinAnalytical/ALS PhotonAssay Analysis Technique: - Developed by CSIRO and the Chrysos Corporation, This Photon Assay technique is a fast and chemical free alternative to the traditional fire assay process and utilizes high energy x-rays. The process is non-destructive on and utilises a significantly larger sample than the conventional 50g fire assay. MinAnalytical/ALS has thoroughly tested and validated the PhotonAssay process with results benchmarked against conventional fire assay. The National Association of Testing Authorities (NATA), Australia's national accreditation body for laboratories, has issued Min Analytical with accreditation for the technique in compliance with TSO/TEC 17025:2018-Testing. Certified Reference Material from Geostats Pty Ltd submitted at 75 metre intervals approximately. Blanks and duplicates also submitted at 75m intervals giving a 1:25 sample ratio. Referee sampling has not yet been carried out.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel.	Geology Manager or Senior Geologist verified hole position on site. Standard data entry used on site, backed up in South Perth WA.

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	• The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	No adjustments have been carried out. However, work is ongoing as samples can be assayed to extinction via the PhotonAssay Analysis Technique
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	Drill holes have been picked up by Topcon HiPer Ga Model RTK GPS. Southern Cross Surveys were contracted to pick up all latest RC drilling collars. Historical RC AC drill holes were recorded with a handheld GPS in MGA Zone 51S. RL was initially estimated then holes, once drilled were translated onto the surveyed topography wire frame using mining software. These updated RL’s were then loaded into the database. Grid: GDA94 Datum UTM Zone 51
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	RC Drill hole spacing varies from 40x20m to 40x80m spacings. NO Sample compositing was undertaken for RC samples.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	RC drill holes have been drilled normal to the interpreted geological strike or interpreted mineralised structure. The drill orientation will be contingent on the prospect mineralisation location and style. RC drilling was oriented 60 degrees toward MGA east (090) and is based on local geology and alignment of the drilling targets.
Sample security	• The measures taken to ensure sample security.	All samples taken daily to AAR yard in Kambalda West, then transported to the Laboratory in batches of up to 10 submissions
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	No audits have been carried out at this stage.

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Section 2 - Reporting of Exploration Results

Criteria	JORC Code Explanation				Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.		Tenement	Status	Location	Interest Held (%)
			M15/1771	Granted	Western Australia	100
			M15/96	Granted	Western Australia	100
			M15/395	Granted	Western Australia	100
			M15/1101	Granted	Western Australia	100
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.		The database is comprised of drilling carried out when the project was under the ownership of several companies including: • Ramelius (2005 to 2011) • Tychean Resources (2013 – 2015) • Maximus Resources Limited (2015 – 2025) • Astral Resources Limited (2025–Present)
Geology	• Deposit type, geological setting and style of mineralisation.		TheSpargoville Projectis located in the Coolgardie Domain within the Kalgoorlie Terrane of the Archaean Yilgarn Craton. Regional Geology The greenstone stratigraphy of the Kalgoorlie Terrane can be divided into three main units: (1) predominantly mafic to ultramafic units of the Kambalda Sequence, these units include the Lunnon Basalt, Kambalda Komatiite, Devon Consols Basalt, and Paringa Basalt; (2) intermediate to felsic volcaniclastic sequences of the Kalgoorlie Sequence, represented by the Black Flag Group and (3) siliciclastic packages of the late basin sequence known as the Merougil Beds. The Paringa Basalt, or Upper Basalt, is less developed within the Coolgardie Domain, but similar mafic volcanic rocks with comparable chemistry are found in the Wattle Dam area. Slices of the Kambalda Sequence referred to as the Burbanks and Hampton Formations, are believed to represent thrust slices within the Kalgoorlie Sequence. Multiple deformational events have affected the Kalgoorlie Terrane, with at least five major regional deformational events identified. Granitoid intrusions associated with syntectonic domains are found in the Wattle Dam area, including the Depot Granite and the Widgiemooltha Dome. Domed structures associated with granitoid emplacement are observed in the St Ives camp, with deposition of the Merougil Beds and emplacement of porphyry intrusions occurring during extensional deformation. Gold occurrences associated with the Zuleika and Spargoville shears are representative of deposits that formed during sinistral transpression on northwest to north- northwest trending structures. Local Geology The local geology consists of a steep west-dipping sequence of metamorphosed mafic and ultramafic volcanic rocks, interflow metasedimentary rocks and felsic porphyry intrusions. The dominant structural style consists of steep north-plunging isoclinal folds with sheared and attenuated fold limbs. The Wattle Dam Gold Project consists of several gold deposits, namely, Wattle Dam, Redback, Golden Orb and S5. The deposits exhibit a prominent northwards plunge of high-grade shoots and mineralised zones related to regional north-plunging isoclinal folds. The 8500N Paleochannel is a shallow subsurface feature located 5 to 20 metres below surface, with a strike length of approximately 450 metres. The paleochannel lies within the Lefroy Paleodrainage System, a significant ancient drainage network hosting gold deposits such as Neptune, Africa, and Mandilla. Mineralisation, ranging from 1 to 4 metres in thickness, is interpreted to be the result of secondary gold accumulation through alluvial processes within the paleochannel sediments.

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		Primary mineralisation at 8500N is hosted within two distinct lodes, one dipping steeply to the East, the other dipping steeply to West. Gold mineralisation correlates with an increase of quartz veining and sulphides (mainly pyrite).
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	This Information has been summarised in Table 1 and 2 of this ASX announcement.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	No data aggregation methods have been used. A 100ppb Au lower cut off has been used to calculate grades for AC drilling A 0.3g/t Au lower cut off has been used to calculate grades for RC drilling, with maximum internal dilution of 5m. A cutoff grade of >0.5g*m has been applied for reporting purposes in the tables of results. This has not been applied.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	The overall mineralisation trends have been intersected at an appropriate angle to form the closest intercept length to true width. The results are reported as downhole depths.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Please refer to the maps and cross sections in the body of this announcement.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Balanced reporting has been applied.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density,	No other substantive exploration data.

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• groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

• Further work • The nature and scale of planned further work Follow up, Reverse Circulation & Diamond Drilling is planned. (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).

• • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

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