CATALINA RESOURCES LTD — Capital/Financing Update 2026

Feb 16, 2026

ASX Announcement 17 February 2026

Updated Announcement - Breakaway Dam: Core Drilling Appointed; Follow-Up VMS Drilling to Commence

Catalina Resources Ltd (ASX: CTN ) (‘ Catalina ’ or the ‘ Company ’) attaches an updated version of its announcement dated 9 February 2026, titled “Breakaway Dam: Core Drilling Appointed; Follow-Up VMS Drilling to Commence”.

The update incorporates supplementary information relating to the historical drilling data and associated disclosures, including:

1. Insertion of a drill results table disclosing the relevant historical assay results for figure 2 which was previously disclosed by Forrestania Resources Limited (AXS: FRS).

2. Insertion of drillhole specifications (Appendix 1) for the holes from which the core photograph shown in Figure 2 was derived.

3. Inclusion of a relevant JORC Table (Appendix 2) and Competent Persons Statement in relation to the drilling and assay results.

The historical results referenced in the amended announcement were publicly released by FRS prior to Catalina’s acquisition of the project. At the time of acquisition, the individual intersections related to figure 2 were not considered material in isolation given their tenor and widths, however subsequent geological review (since acquisition) has highlighted that the presence of sulphide mineralisation provides useful technical context supporting the interpreted VMS system.

The additional disclosure has been included to provide full technical context in accordance with JORC reporting requirements. The inclusion of this information does not change the Company’s previously stated exploration strategy or investment view.

The release of this document to the market has been authorised by the Board of Catalina Resources Ltd.

Contacts

Investors / Shareholders

Johnathon Busing Company Secretary T: +61 (0)8 6165 8858

ABOUT CATALINA RESOURCES LIMITED

Catalina Resources Limited is an Australian diversified mineral exploration and mine development company whose vision is to create shareholder value through the successful exploration of prospective gold, base metal, lithium and iron ore projects and the development of these projects into production.

Page 1

ASX Announcement 17 February 2026

Breakaway Dam: Core Drilling Appointed; Follow-Up VMS Drilling to Commence

HIGHLIGHTS

• ➢ Core Drilling Pty Ltd appointed to undertake an upcoming drilling program at the Breakaway Dam Copper VMS Project in Western Australia

• ➢ An initial drilling program of approximately 3,000m of RC drilling has been finalised with mobilisation occurring imminently

• ➢ Recent drilling and downhole EM surveys have confirmed a copper-bearing sulphide system consistent with a VMS setting, providing a robust technical foundation for follow-up drilling

• ➢ Multiple strong electromagnetic conductors have been identified, with previous drilling interpreted to have intersected the margins rather than centres of conductive sulphide bodies

• ➢ The upcoming program will systematically test priority EM plates and alongstrike/down-plunge extensions, representing the next phase of focused evaluation of the Breakaway Dam mineralised system

Catalina Resources Limited (“Catalina” or “the Company”) is pleased announce that it has appointed Core Drilling to support its upcoming drill program at Breakaway Dam Copper VMS Project, located in Western Australia (figure 1).

The initial program is expected to comprise approximately 3,000 metres of RC drilling, with scope to expand subject to specialist geological advice and results as drilling progresses. The program is designed to provide systematic follow-up to recent drilling and geophysical work that confirmed the presence of a copper-rich volcanogenic massive sulphide (VMS) system at Breakaway Dam[1] .

Executive Director, Ross Cotton, commented:

“Breakaway Dam is entering a focused phase of exploration aimed at advancing a copper-rich VMS system with clear potential for further growth. This drilling program is designed to test the continuity and extent of mineralisation and to assess whether the system remains open along strike and at depth.

The program builds directly on recent drilling and geophysical results and targets the most compelling areas identified to date, as the Company moves to the next stage of evaluating the scale and development potential of the system”

Page 1

==> picture [322 x 322] intentionally omitted <==

Figure 1. Breakaway Dam Regional Location

SUMMARY OF RECENT DRILLING RESULTS[1]

• ➢ Previous drilling at the Breakaway Dam Project has confirmed the presence of a copper-bearing sulphide system consistent with a VMS setting.

• ➢ Mineralisation occurs within a defined stratigraphic position in mafic volcanic rocks and is interpreted to be distributed across multiple sulphide layers, reflecting both primary deposition and subsequent structural modification.

• ➢ An initial drilling program comprising four diamond drill holes, supported by downhole electromagnetic (DHEM) surveys on three holes, intersected sulphide mineralisation within the target stratigraphic position and identified multiple strong electromagnetic conductors.

• ➢ Interpretation of the DHEM data indicates that several drill holes intersected the margins of conductive sulphide bodies, rather than their centres. Subsequent drilling intersected sulphiderich intervals dominated by pyrrhotite with minor chalcopyrite, providing important geological and geophysical constraints on the geometry and distribution of the mineralised system.

• ➢ Drilling intersected copper- and zinc-bearing sulphide mineralisation across multiple holes, with intervals ranging from narrow high-grade lenses to broader zones of moderate-grade mineralisation (figure 3).

Purpose of the Upcoming Drilling Program

Following confirmation of a copper-rich volcanogenic massive sulphide (VMS) system and identification of multiple strong electromagnetic conductors, the Company is advancing to the next phase of exploration at the Breakaway Dam Project.

Page 2

A preliminary drilling plan has been prepared to test priority electromagnetic plates interpreted from modelling around BDCDD2503, together with systematic step-out drilling along strike to assess continuity of the target horizon.

The upcoming drilling program is focused on testing the centres of high-conductance plates that were either untested or only partially tested by earlier drilling. These conductors are considered priority targets and represent the most compelling opportunities identified to date to further evaluate the extent, geometry and sulphide tenor distribution of mineralisation within the system.

==> picture [461 x 315] intentionally omitted <==

Figure 2. Sulphide rich zones in BDCDD2503 at 170.5m-172.5m downhole and 194.9m-195.9m downhole (for results refer appendix 1)

In addition, drilling will extend testing along strike and down-plunge from existing intersections, with the objective of assessing whether sulphide mineralisation continues beyond the approximately 700 m strike length defined to date. Follow-up downhole electromagnetic (DHEM) surveying is planned as part of the program to further refine targeting as drilling progresses.

This approach reflects a transition from system confirmation toward systematic evaluation of the most prospective parts of the mineralised horizon. The Company views this drilling phase as an important and high-impact step in advancing the Breakaway Dam Project, providing a clear opportunity to build on the strong geological and geophysical foundations established during the 2025 exploration campaign.

Next Steps

Drill targets are currently being finalised, incorporating existing drilling, downhole electromagnetic data and geological interpretation.

Page 3

The Company has engaged Core Drilling Pty Ltd to undertake the program, with drilling expected to commence prior to the end of February.

==> picture [379 x 381] intentionally omitted <==

Figure 3. Plan view of BDC Central Zone target drill area including BDCDD2503 previous drill holes and associated results[1] .

Contacts

Investors / Shareholders

Ross Cotton

Executive Director

T: +61 (0)8 6165 8858

Page 4

REFERENCES (ASX)

This Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“2012 JORC Code”). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this announcement can be found in the following announcements lodged on the ASX:

1. Refer CTN ASX announcement 20 January 2026 Drilling-Confirms-Breakaway-Dam-as-aCopperRich-VMS-System.pdf

2. Refer FRS ASX announcement 30 October 2025 Diamond Drilling Completed at Breakaway Dam VMS Project

3. Refer FRS ASX announcement 18 November 2025 Drilling Completed at Breakaway Dam VMS Prospect

Where the Company refers to the Mineral Resources in this report (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed.

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to Exploration Results is based on and fairly represents information compiled by Mr Ricky Gordon, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM).

Mr Gordon is a consultant to Catalina Resources Limited and 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 (JORC Code).

Mr Gordon consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements that are subject to a range of risks and uncertainties. These statements relate to the Company’s expectations, intentions, or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same. These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the acquisition and divestment of projects (including risks associated with completing due diligence and, if favourable results are obtained, proceeding with the acquisition of the Beasley Creek Project), joint venture and other contractual risks, metal prices, exploration, development and operating risks, competition, production risks, sovereign risks, regulatory risks including environmental regulation and liability and potential title disputes, availability and terms of capital and general economic and business conditions.

Page 5

Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company, or any of its affiliates or persons acting on its behalf. Subject to any continuing obligations under applicable law the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.

ABOUT CATALINA RESOURCES LIMITED

Catalina Resources Limited is an Australian diversified mineral exploration and mine development company whose vision is to create shareholder value through the successful exploration of prospective gold, base metal, lithium and iron ore projects and the development of these projects into production.

APPENDIX 1:

RESULTS ASSOCIATED WITH CORE SAMPLE DEPICTED IN A FIGURE 2.

BHID	SampleID	FROM	TO	Sample Type	Pb pm	Cu ppm	As ppm	Sb ppm	Zn ppm	CuUse
BDCDD2503	FRSDD2500074	170.5	171.5	QuarterCore	58	4025	22	-0.5	885	4025
BDCDD2503	FRSDD2500076	171.5	172.5	QuarterCore	41	1050	27	-0.5	545	1050
BDCDD2503	FRSDD2500077	172.5	173.2	QuarterCore	6	150	15	-0.5	275	150
BDCDD2503	FRSDD2500102	194.9	195.9	QuarterCore	20	630	17	-0.5	470	630
BDCDD2503	FRSDD2500104	195.9	197	QuarterCore	15	195	17	-0.5	425	195

PREVIOUSLY DISCLOSED RESULTS[1]

Drillhole	From (m)	Interval (m)	Est True Width(m)	Cu (%)	Zn (%)
BDCDD2501	181.4	9.2	8.7	0.48	0.02
incl.	181.4	0.95	0.9	1.18	–
incl.	188.9	1.7	1.6	1.05	–
BDCDD2502	227.0	1.45	1.4	0.16	1.44
BDCDD2502	236.35	1.47	1.4	1.97	0.24
BDCDD2503	170.5	1.0	0.9	0.40	0.09
BDCDD2503	191.0	2.9	2.8	0.04	0.29
BDCDD2504	178.4	4.2	4.1	0.32	0.29

DRILLHOLE SPECIFICATIONS

Hole ID	Easting (MGA2020 Z51)	Northing (MGA2020 Z51)	AHD RL	Planned Dip	Planned Azimuth	Target Zone (Actual)	EOH
BDCDD2501	330012	6713094	440	-65	55	181.4 – 190.6	297.0
BDCDD2502	329946	6713025	440	-60	45	226.0 – 237.82	332.9
BDCDD2503	329548	6713384	440	-55	45	170.5 – 195.9	254.8
BDCDD2504	330013	6713095	440	-59	44	174.05-188.75	221.0

Page 6

APPENDIX 2: JORC CODE, 2012 EDITION - TABLE 1

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
	• Nature and quality of sampling (eg cut
Sampling	channels, random chips, or specific	Reported assay results relate to ¼ HQ core
techniques	specialised industry standard	assays which were sent for ICP-OES analysis
	measurement tools appropriate to the	from a four-acid digest.
	minerals under investigation, such as down
	hole gamma sondes, or handheld XRF	Sampling involves longitudinally sawing HQ
	instruments, etc). These examples should	diamond drill core and submission to a
	not be taken as limiting the broad meaning	laboratory for two-stage crushing down to
	of sampling.	2mm then pulverisation to 75 micron.
	• 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
	mineralization 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 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 mineralization types (eg
	submarine nodules) may warrant
	disclosure of detailed information.
	• Drill type (eg core, reverse circulation,	Drilling involved HQ diameter coring with
Drilling	open-hole hammer, rotary air blast, auger,	electronic backend core orientation for all
techniques	Bangka, sonic, etc) and details (eg core	runs in competent fresh rock.
	diametre, 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).
	• Method of recording and assessing core	Core recovery is logged as part of the
Drill	and chip sample recoveries and results	geological logging process. Zones of partial
sample	assessed.	recovery are logged as such, zones of no
recovery	• Measures taken to maximise sample	recovery are logged as intervals of core loss.
	recovery and ensure representative nature	Diamond drillers use short runs to maximise
	of the samples.	recovery in poor ground conditions.
	• Whether a relationship exists between	Competent core is considered representative.
	sample recovery and grade and whether	The only risks to the representivity of diamond
	sample bias may have occurred due to	core relate to selective recoveries in highly

Page 7

Criteria	JORC Code explanation	Commentary
	preferential loss/gain of fine/coarse	broken ground or hole cave in. No relationship
	material.	exists between recovery and grade.
	• Whether core and chip samples have been	All drill core is geologically logged into a digital
Logging	geologically and geotechnically logged to a	database on a metre-by-metre basis with 5cm
	level of detail to support appropriate	precision on interval boundaries.
	Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean,	Core logging is qualitative. Core photos are taken tray-by-tray for all drilled core. All core is logged in entirety.
	channel, etc) photography.
	• The total length and percentage of the
	relevant intersections logged.
	• If core, whether cut or sawn and whether	Core sampling for assay involves:
Sub-	quarter, half or all core taken.	Longitudinally cutting the core in half with an
sampling	• If non-core, whether riffled, tube sampled,	automated core saw which is appropriate for
techniques	rotary split, etc and whether sampled wet	this style of mineralisation.
and	or dry.
sample	• For all sample types, the nature, quality	Half core is subject to two-stage crushing
preparation	and appropriateness of the sample	down to 2mm then pulverisation to 75 micron
	preparation technique.	to produce the final assay subsample.
	• Quality control procedures adopted for all
	sub-sampling stages to maximise	Lab duplicate samples are inserted every 50
	representivity of samples.	samples by taking a second 75 micron pulp
	• Measures taken to ensure that the	from the duplicate interval.
	sampling is representative of the in situ
	material collected, including for instance	Blank samples are inserted every 50 samples
	results for field duplicate/second-half	to monitor for contamination in the crushing
	sampling.	and pulverisation stages.
	• Whether sample sizes are appropriate to the grain size of the material being sampled.	Second half core sampling is not used in the exploration stage, however the core is archived should this be required in the future.
		Quarter HQ core is appropriate for percent-
		level base metal targets.
		The sub sampling and crush/pulverisation
		sizes are appropriate for the material being
		sampled.
	• The nature, quality and appropriateness of
Quality of	the assaying and laboratory procedures	Core sampling will involves: Assay with a four
assay data	used and whether the technique is	acid digest and ICP-OES finish which is
and	considered partial or total.	appropriate for copper ore-grade base metal
laboratory	• For geophysical tools, spectrometers,	analysis.
tests	handheld XRF instruments, etc, the
	parameters used in determining the	Four acid digests are considered a near total
	analysis including instrument make and	digest and appropriate for copper
	model, reading times, calibrations factors	mineralisation when low level and over limit
	applied and their derivation, etc.	methods are applied appropriately.
	• Nature of quality control procedures
	adopted (eg standards, blanks, duplicates,	No geophysical tools were used.
	external laboratory checks) and whether
	acceptable levels of accuracy (ie lack of	Certified Reference Materials (CRMs) are

Page 8

Criteria	JORC Code explanation	Commentary
	bias) and precision have been established.	inserted every 25 samples throughout assay
		batches.
		Blank samples are inserted every 50 samples.
		Laboratory duplicate pulps were inserted
		every 50 samples.
		Duplicate core (another quarter) samples are
		not routinely used for exploration-stage
		samples, but retained core makes this
		possible at any stage in the future.
		External laboratory checks (umpire assays)
		are not routinely used for exploration-stage
		samples.
	• The verification of significant intersections
Verification	by either independent or alternative	Visual estimates only have been reported.
of sampling	company personnel.	Visual estimates of an experienced and
and	• The use of twinned holes.	suitably qualified geologist were then verified
assaying	• Documentation of primary data, data entry	by a second experienced and suitably
	procedures, data verification, data storage	qualified geologist. There are no twin holes in
	(physical and electronic) protocols.	this early-stage exploration project. Data is
	• Discuss any adjustment to assay data.	digitally entered into a database with internal
		validation checks. No adjustment is made to
		assay data.
	• Accuracy and quality of surveys used to
Location of	locate drill holes (collar and down-hole	Collar locations are collected by hand held
data points	surveys), trenches, mine workings and	GPS after drilling is complete which has an
	other locations used in Mineral Resource	accuracy of ±4m. GPS data is reported and
	estimation.	stored in the MGA2020 Zone51 UTM grid
	• Specification of the grid system used.	system. Topographic control is achieved by
	• Quality and adequacy of topographic	normalisation against the regional DEM
	control.	available from Geoscience Australia.
	• Data spacing for reporting of Exploration	The drilling was planned to produce intercepts
Data	Results.	70m apart and roughly that same distance
spacing	• Whether the data spacing and distribution	away from the nearest historical drilling.
and distribution	is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve	No mineral resource estimate is planned at this stage; much more drilling is required first.
	estimation procedure(s) and classifications	No sample compositing has been applied.
	applied.
	• Whether sample compositing has been
	applied.
	• Whether the orientation of sampling	The designed intercept angles are at a high
Orientation	achieves unbiased sampling of possible	angle to the target and therefore produce no
of data in	structures and the extent to which this is	bias in sampling.
relation to	known, considering the deposit type.
geological	• If the relationship between the drilling
structure	orientation and the orientation of key
	mineralised structures is considered to
	have introduced a sampling bias, this

Page 9

Criteria	JORC Code explanation	Commentary
	should be assessed and reported if
	material.
	• The measures taken to ensure sample	Samples were transported from a secure yard
Sample	security.	in Kalgoorlie to the laboratory in Perth via a
security		reputable courier with industry standard
		security measures.
	• The results of any audits or reviews of	No audits or reviews have been conducted at
Audits or	sampling techniques and data.	this stage.
reviews

Section 3 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
	• Type, reference name/number, location	The Breakaway Dam Copper Prospect is
Mineral	and ownership including agreements or	located on E29/1037. The Company has
tenement and	material issues with third parties such as	entered into a binding agreement to acquire
land tenure	joint ventures, partnerships, overriding	the tenement from Forrestania Resources
status	royalties, native title interests, historical	Ltd
	sites, wilderness or national park and
	environmental settings.	The project is on Nyalpa Pirniku determined
	• The security of the tenure held at the time	native title land. There are no private
	of reporting along with any known	royalties or encumbrances on E29/1037.
	impediments to obtaining a licence to
	operate in the area.	The tenement is in good standing with all
		obligations and minimum expenditure
		commitments met.
	• Acknowledgment and appraisal of	Historical prospecting pits of an unknown
Exploration	exploration by other parties.	vintage tested surface copper expressions at
done by other		Breakaway Dam. Modern exploration of the
parties		area for copper began with soil sampling
		from 1997 by Delta Gold and subsequent
		soils and RAB drilling by Pelican Resources
		up to 2004.
		Amex Resources worked the prospect from
		2007 to 2010 with surface moving loop
		electromagnetics (MLEM) and RC drilling of
		modelled conductors. Diamond drilling
		returned percent level copper intercepts
		over narrow widths and follow-up downhole
		electromagnetics (DHEM) refined the
		electromagnetic model with modelled
		offhole conductors, one of which is large
		and highly conductive.
		In 2025 Forrestania Resources undertook
		surface samplingand ageneral

Page 10

Criteria	JORC Code explanation	Commentary
		geochemistry review through Camp Oven
		Exploration. That review concludes that the
		project is highly anomalous in copper
		pathfinder elements consistent with
		volcanogenic massive sulphide (VMS)
		mineralisation.
	• Deposit type, geological setting and style	The Breakaway Dam Prospect is within the
Geology	of mineralization.	Alexandra Bore Greenstone Belt, an isolated
		sliver of monzogranite–bound greenstone that
		hosts multiple copper-bearing gossanous
		outcrops and pegmatites.
		The target stratigraphy is a package of
		metasedimentary rocks layered between two
		granitoid bodies, both of which are dominated
		by coarse variably foliated granite with
		common aplitic and pegmatitic secondary
		phases.
		The metasedimentary package includes
		quartzites, metapsammites and
		metasedimentary schists. Where bedding is
		apparent it is very tightly folded. An
		amphibolite package abuts the western
		granitoid margin and varies in thickness from
		50m or more to completely absent. The
		amphibolite usually appears massive
		however highly strained zones overprinting
		some inherent texture were also observed.
		The entire target corridor is highly strained.
		The structural grain of the area is subvertical.
		Surface structural measurements of the
		orientation of the main foliation are
		universally very steeply dipping.
		The target style of mineralisation is
		Volcanogenic Massive Sulphide (VMS) and
		surface geochemistry, particularly elevated
		base metals, is consistent with this style of
		mineralisation.
	• A summary of all information material to	All holes designed for this drill program are
Drill hole	the understanding of the exploration	listed in appendix 1 of this report
Information	results including a tabulation of the
	following information for all Material drill
	holes:
	o easting and northing of the drill hole
	collar
	o elevation or RL (Reduced Level –
	elevation above sea level in metres) of
	the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception
	depth
	o hole length.

Page 11

Criteria	JORC Code explanation	Commentary
	• 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.
	• In reporting Exploration Results, weighting	Assay grades reported in this project are
Data	averaging techniques, maximum and/or	length weighted only. Base metal sulphide
aggregation	minimum grade truncations (eg cutting of	mineralisation is most precisely reported
methods	high grades) and cut-off grades are	when composited samples are both length
	usually Material and should be stated.	and density, but that data is not yet available
	• Where aggregate intercepts incorporate	for these intercepts.
	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.
	• These relationships are particularly	All drilling is at a high angle to the target. True
Relationship	important in the reporting of Exploration	widths are estimated based on the
between	Results.	orientation defined by the plane connecting
mineralization	• If the geometry of the mineralization with	recent mineralisation intercepts. These true
widths and	respect to the drill hole angle is known, its	widths are estimates only and more data may
intercept	nature should be reported.	refine the geometry of mineralisation
lengths	• If it is not known and only the down hole	allowing for better estimates of true width.
	lengths are reported, there should be a
	clear statement to this effect (eg ‘down
	hole length, true width not known’).
	• Appropriate maps and sections (with	Appropriate maps displaying all the data
Diagrams	scales) and tabulations of intercepts	points and anomalous values are provided in
	should be included for any significant	the body of the report.
	discovery being reported These should
	include, but not be limited to a plan view
	of drill hole collar locations and
	appropriate sectional views.
	• Where comprehensive reporting of all	All four holes drilled are discussed in this
Balanced	Exploration Results is not practicable,	announcement
reporting	representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Historical drilling is shown for reference in the main body of this report which was reported according to JORC 2004, but can not be independently verified by Catalina
		Resources.
	• Other exploration data, if meaningful and	The targeting of this program is based on
Other	material, should be reported including	electromagnetic surveys acquired and
substantive	(but not limited to): geological	modelled between 2007 and 2010. These
exploration	observations; geophysical survey results;	surveys provided the basis for the drillhole
data	geochemical survey results; bulk samples	design. No metallurgical geotechnical or
	– size and method of treatment;	other work has been completed at this stage.

Page 12

Criteria	JORC Code explanation	Commentary
	metallurgical test results; bulk density,
	groundwater, geotechnical and rock
	characteristics; potential deleterious or
	contaminating substances.
	• The nature and scale of planned further	See the body of this report for extension and
Further work	work (eg tests for lateral extensions or	infill possibilities.
	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.

Page 13