AUKING MINING LIMITED — Capital/Financing Update 2025

Oct 21, 2025

ASX:AKN ABN 29 070 859 522 Phone 07 3535 1208 www.aukingmining.com

Auking Mining Limited Suite 34, Level 10 320 Adelaide Street Brisbane Queensland 4000

22 October 2025

ASX RELEASE

Final survey results confirm potential extensions of carbonatite mineralisation at Myoff Creek Niobium/Rare Earths Project, British Columbia

HIGHLIGHTS

• Airborne survey : A helicopter-borne high resolution aeromagnetic and radiometric survey covering 70-line kms was recently flown across the Myoff Creek tenure area. Preliminary survey results were announced to ASX on 23 September 2025. Final survey data has now been received and assessed by AuKing.

• Carbonatite mineralization confirmed : Final survey results are consistent with previously interpreted and drilled near-surface carbonatite mineralization in the northern area of the project area which contained notable intercepts of niobium and total rare earth oxides. ( See ASX release by AuKing dated 22 July 2024).

• Potential carbonatite extension: The survey has also highlighted previously untested anomalous areas of additional carbonatite mineralization in the central and southern areas of the Myoff Creek project area, providing potential extensions of carbonatite mineralisation and creating fresh exploration targets for follow-up.

• Cloncurry Gold Project acquisition progressing: As per AuKing’s 18 September 2025 ASX announcement, the Company has entered into a binding agreement to acquire 100% of Orion Resources. This transaction will deliver full ownership of the Cloncurry Gold Project, removing previous joint venture complexity.

AuKing’s Managing Director, Mr Paul Williams, said “ The strong levels of market interest in the exploration and development of rare earth elements (REEs) in North America provide a solid backdrop for the Company releasing final survey results from the recently-completed aeromagnetic and radiometric survey at Myoff Creek in south-eastern British Columbia. The survey results are consistent with historical drilling that outlined a 1.4km by 0.4km nearsurface Nb-REE bearing carbonatite zone, while also highlighting the potential for significant extensions of mineralisation across the broader tenure. AuKing will now assess the extent of future exploration activities based on these potentially exciting results”.

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Myoff Creek Project

Strategically located in south-eastern British Columbia, Canada, the Myoff Creek project is situated in the South Central Mining Region, well known for mineral extraction and processing. This region is host to some major mining operations including; Teck Resources Limited’s Highland Valley Copper Mine, and Hudbay Minerals Inc’s Copper Mountain Mine.

The nearest township of Seymour Arm, which is accessible by road from the claims, has accommodation and logistical support. Kamloops (population 108,000), the major commercial centre for the region, has numerous resources such as equipment and professional services for mining and exploration activities.

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Figure 1 – Myoff Creek Project location

Airborne Survey Results

On 23 September 2025, AuKing announced preliminary survey results at Myoff Creek derived from the conduct of a helicopter-borne high resolution aeromagnetic and radiometric survey. Precision GeoSurveys Inc. provided these survey services.

The survey comprised 70-line kms flown in a systematic low-level grid pattern across the entire Myoff Creek tenure area. With that survey having been completed, AuKing has now received the final results that are set out below.

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The presence of uranium and thorium is often associated with carbonatite-hosted rare earth mineralization. Figure 2 on the left below illustrates the surveyed uranium-equivalent mineralisation across the Myoff Creek project area and the location of historic drilling holes where the Nb-REE mineralisation was detected (See AuKing release to ASX on 24 July 2024). It should be noted that the drill holes appear to be situated on a contact zone where the previously-interpreted carbonatite mineralisation had been identified. Figure 3 on the right below, illustrates the surveyed thorium-equivalent mineralisation across the Myoff Creek project area. There are surveyed areas of anomalous uranium and thorium that have not been previously identified in historical exploration and provide significant potential for extensions of the historically-interpreted carbonatite mineralisation to the north.

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Figure 2 – Uranium equivalent concentration across the Myoff Creek project showing correlation of historic drill holes with radiometric survey

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Figure 3 – Thorium equivalent concentration across the Myoff Creek project showing correlation of historic drill holes with radiometric survey

Next steps

The high-resolution airborne radiometric survey has provided critical data for identifying and prioritising drill targets across the Myoff project area, with a specific focus on features associated with rare earth mineralisation.

By analyzing the patterns and ratios from the radiometric survey, AuKing can begin to delineate the geometry and strike extension of the key rare earth-hosted carbonatite unit. This integrated approach allows AuKing to focus its initial proposed drill program with

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maximum precision, testing the strongest radiometric anomalies that represent the highest potential for significant rare earth discovery and expansion of the known mineralisation.

Cautionary note re historical exploration results

In relation to the historical exploration results mentioned in this release, AuKing notes the following:

• Historical results have not been reported in accordance with the JORC Code 2012;

• A Competent Person has not done sufficient work to disclose the exploration results in accordance with the JORC Code 2012;

• It is possible that following further evaluation and/or exploration work that the confidence in the prior reported exploration results may be reduced when reported under the JORC Code 2012;

• Nothing has come to the attention of AuKing that causes it to question the accuracy or reliability of the former owners’ exploration results; and

• AuKing has not independently validated the former owners’ exploration results and therefore is not to be regarded as reporting, adopting or endorsing those results.

For more information, please contact:

Paul Williams

Managing Director Mobile +61 419 762 487 p.williams@aukingmining.com

About AuKing Mining

AuKing Mining Limited (ASX: AKN) is an Australian resource company focused on the exploration and development of gold and critical minerals projects. The Company’s portfolio includes the Cloncurry Gold Project in north-west Queensland, anchored by the Lorena processing plant and cornerstone deposits at Mt Freda and Golden Mile, and the Myoff Creek niobium-REE Project in British Columbia, Canada. AuKing’s strategy is to create shareholder value through advancing near-term development opportunities while systematically exploring for longer-term discovery upside.

Competent Person’s Statement

The information in this Report that relates to the preliminary airborne survey and historical exploration results at the Myoff Creek Project is based on information reviewed by Mr Chris Bittar who is a member of the Australasian Institute of Mining and Metallurgy. Mr Bittar is an employee of AuKing Mining Limited and has 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 Bittar consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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JORC Code, 2012 Edition – Final survey results show potential carbonatite mineralisation extension at Myoff Creek Niobium/Rare Earths Project, British Columbia, Canada

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg 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 (eg ‘reverse circulation drilling was used to obtain 0.5 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 (eg submarine nodules) may warrant disclosure of detailed information.	• Not applicable
Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).	• Not applicable
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.	• Not applicable
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level 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. _	• Not applicable
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.	• Not applicable

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Criteria	JORC Code explanation	Commentary
	• 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.
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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• No sampling data reported • Final Radiometric maps have been provided. • Radiometric data have been corrected for effective height, aircraft, cosmic, radon, stripped ratios, and attenuations and then converted to apparent radiometric concentrations. • The survey was flown using an Airbus AS350 survey helicopter. • Scintrex CS-3 cesium vapor airborne magnetometer sensor; sensitivity better than 0.01 nT and sampling rate of 20 Hz providing sample spacings of 1-2 meters, in a nose- mounted stinger configuration with 3-axis real-time compensation. • 12.6 litres of self-calibrating NaI(Tl) gamma radiation detection crystals with 512 channel output at 1 Hz sampling rate. • Line spacing (090°/270°) of 150 m at 40 m height (40 Lines). • Tie line (000°/180°) 1500 m spacing at 40 m height.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • 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.	• Not applicable
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.	• Not applicable
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. _	• Not applicable
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.	• Not applicable

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Criteria	JORC Code explanation	Commentary
Sample security	• The measures taken to ensure sample security.	• Not applicable
Audits or reviews	• The results of any audits or reviews of _sampling techniques and data. _	• Not applicable

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 license to operate in the area.	• The Myoff Creek project is located in British Columbia, Canada on eight (8) Minerals Claims numbered 1048172, 1048173, 1048179, 1048187, 1052092, 1089285, 1098734 and 1100756 and all of the tenements are in good standing. • There are no known third-party interests affecting these Mineral Claims.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Cross Lake Minerals Ltd conducted a 346m trenching program in 2001; • International Bethlehem Mining Corp carried out an 8 hole 1,134m drilling program in 2011; and • MXG Minerals Inc, carried out a 14 hole 1,249m in 2018.
Geology	• Deposit type, geological setting and style of mineralisation.	• Myoff Creek lies within the Proterozoic (Aphebian) age metamorphic carbonatite belt of the Shuswap Metamorphic Complex, a belt of high-grade and intensely deformed metamorphic and intrusive rocks in the core of the Columbian Orogen in south-eastern British Columbia. This is a known area for Nb-REE-P-Ti bearing carbonatites. The Shuswap Complex, along its eastern margin, is characterized by a series of fault-bounded domal culminations that expose mixed paragneiss, granitic gneiss and migmatite of Paleoproterozoic age. • There are two types of carbonatite recognized in the area. Type I, the intrusive phase (the REN carbonatite) and Type II, the extrusive phase (the Mount Grace carbonatite – MGC). These carbonatites are generally rich in rare earths and other critical minerals with low impurities, while remaining close to the surface. Myoff Creek is a Nephelinitic and ultramafic carbonatite- hosted deposit type up to 200m thick. This is similar to the Aley and Wicheeda carbonatites – both situated in northern British Columbia.
Drill hole information	• A summary of all information material to the under-standing 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 • _Ifthe exclusion of this information is justified on _	• Not applicable

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Criteria	JORC Code explanation	Commentary
	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. _
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.	• Not applicable
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’).	• Not applicable
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. _	• Diagrams have been included within the main body of text and are considered preliminary only. Final corrections and processing are still to be completed.
Balanced Reporting	• 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. • 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.	• Not applicable
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, groundwater, geotechnical and rock characteristics; potential deleterious or _contaminating substances. _	• As per body of the release.
Further work	• The nature and scale of planned further work (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.	• Further work is expected to include mapping and sampling over the target areas identified in the radiometric surveys.

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