CATALINA RESOURCES LTD — Capital/Financing Update 2026

Jan 20, 2026

ASX Announcement 21 January 2026

Second RC Drilling Rig Commences Operations at Evanston and Yerilgee

HIGHLIGHTS

• ➢ Second reverse circulation (“RC”) drilling rig has commenced operations at the Evanston and Yerilgee Projects as part of Catalina’s ~20,000m drilling program

• ➢ Additional rig enables accelerated drilling across multiple priority targets in parallel

• ➢ Assay results from ongoing drilling programs remain pending and will be integrated with geological modelling to guide follow-up drilling

Catalina Executive Director, Ross Cotton, commented:

“The commencement of a second RC rig materially increases our ability to progress priority targets across Evanston and Yerilgee in parallel. This additional capacity allows us to advance drilling efficiently while ensuring assay results are rapidly incorporated into geological models to inform follow-up drilling decisions.”

Catalina Resources Limited (“Catalina” or “the Company”) advises that a second reverse circulation (“RC”) drilling rig has now commenced operations as part of its Phase 1 drilling program across the Evanston and Yerilgee Gold Projects in the Central Yilgarn region of Western Australia.

The drilling is part of the Company’s Phase 1 exploration program, targeting a series of structurally and geochemically defined prospects across the Evanston and Yerilgee corridors (Figures 1 and 2).

Phase 1 comprises approximately 8,000 metres of planned reverse circulation (“RC”) and aircore (“AC”) drilling across a number of priority targets, including Leghorn, Viper South and T1B at Evanston, and T8, Chicken Little and Snowflake at Yerilgee.

The additional rig provides increased drilling capacity and allows Catalina to progress multiple priority targets concurrently across both project areas. This acceleration reflects the number and quality of targets identified through recent geological interpretation, in-field observations and target definition work.

Drilling continues across priority targets at Evanston and Yerilgee, with samples collected on a continuous metre-by-metre basis and submitted for laboratory analysis on a rolling basis. Assay results are pending and once received, will be integrated with geological modelling to support target refinement and guide subsequent drilling programs.

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Figure 1. Evanston Project Geology and Targets

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Figure 2. Yerilgee Target Location and Project Geology

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Contacts

Investors / Shareholders

Ross Cotton

Executive Director

T: +61 (0)8 6165 8858

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. ASX announcement dated 12 December 2024 - Acquisition of Central Yilgarn Greenstone Belts – Yerilgee and Evanston
• 1. Segue Resources ASX announcement, 30 January 2017 (historical result, not independently verified by Catalina and reported for context only)

The Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original reports.

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.

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.

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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.

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