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CATALYST METALS LIMITED Capital/Financing Update 2026

Apr 15, 2026

64743_rns_2026-04-15_6fa36ab1-6c89-45ac-90e0-0c31e8243ec4.pdf

Capital/Financing Update

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ASX Announcement
16 April 2026
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Catalyst Metals’ flagship asset is the 40km long Plutonic Gold Belt in Western Australia. This belt currently produces ~100koz pa at an AISC of ±A$2,300/oz from three mines at Plutonic, Plutonic East and Trident open pit. Catalyst is currently bringing three new mines into production – Trident UG, Old Highway and Cinnamon. Each will be processed through the existing, underutilised and centrally located 2Mtpa CIL processing plant.

Exploration is targeting down dip extensions of each of these deposits.

With the development and exploration of these five deposits, Catalyst aims to increase Reserves and production from 1.5Moz to ±2Moz and ±100koz to ±200koz annually.

In so doing, Catalyst is aiming for Plutonic to have a 10 year mine life - a unique and rare proposition for an underground Western Australian gold mine.

Catalyst also controls a processing plant and +75km of strike length immediately north of the historic +22Moz Bendigo goldfield. Here, Catalyst has delineated a high-grade, greenfield resource at 26 g/t Au. Further discoveries along strike are expected.

Plutonic Gold Belt, Western Australia

Trident underground gold production nears with grade control results

The soon to be completed open pit at the Trident gold deposit brings closer the step change in Plutonic’s annual gold production from ±100 to ±200koz

  • Trident is an underground deposit located 30km north-east of the underutilised 2Mtpa Plutonic processing plant

  • It is one of five mines to be developed as part of Catalyst’s plan to increase annual gold production at Plutonic from ±100koz to ±200koz

  • Mining of a small open pit, from which the underground decline will be established, commenced at Trident in July 2025 and is expected to be completed in the coming weeks

  • In preparation for underground mining, Catalyst has completed grade control drilling for the first 15 months of underground production

  • Underground gold production from Trident is currently forecast to commence in CY2027

  • Some of the results of this grade control drilling program are below:

  • 17m at 42.7g/t Au o 9m at 17.0g/t Au o 23m at 3.7g/t Au

  • o 15m at 22.9g/t Au o 12m at 10.3g/t Au o 8m at 11.5g/t Au o 13m at 23.7g/t Au o 18m at 5.8g/t Au o 11m at 7.4g/t Au o 6m at 11.2g/t Au o 9m at 6.6g/t Au o 18m at 8.5g/t Au

  • The results are as expected and support the high-grade, consistent and wide nature of the Trident deposit

  • Catalyst has now developed three mines on the Plutonic Belt – Plutonic East, Trident open pit and K2. Trident underground will be the fourth.

  • In all these developments, Catalyst has deliberately brought forward grade control investment. In Catalyst’s view, this is key to de-risking early mining operations in the project’s ramp up phase

  • Trident Underground Reserves stand at 397koz at 5.0g/t Au and Resources stand at 795koz at 5.3g/t with an anticipated annual production rate of ±60koz for ±10 years[3]

Capital Structure

Shares o/s: 261m Options: 0.5m Rights: 12.2m Cash & Bullion: A$238m Debt: Nil

Reserve and Resource[1,2] MRE: 4.2Moz at 3.2g/t Au ORE: 1.5Moz at 2.6g/t Au

Corporate Details

ASX: CYL E:investors@catalystmetals .com.au W:catalystmetals.com.au

Catalyst Metals Limited ( Catalyst or the Company ) (ASX:CYL) is pleased to report grade control drilling results at the Trident underground deposit, located on the Plutonic Gold Belt.

Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:

“Catalyst’s project team has now brought online three mines in 18 months. The Trident underground will be the fourth. These numerous projects have given us a repeatable formula for project development allowing the team to get better each time. This lowers risk giving us a greater chance of delivering on time and on budget.

Numerous drill results demonstrating extensions to the Trident Resource and Reserve are yet to be reported. We look forward to reporting these as they become available.”

shareholders. Note 3: Refer to ASX announcement 4 August 2025 “Tridents Indicated Resource doubles” and 10 September 2025 1

ASX:CYL

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Figure 1: Trident long section grade control drilling intercepts

Grade control drilling program

Over the past few months, Catalyst has undertaken a grade control drilling program aimed at de-risking the first 15 months of production from the Trident underground mine.

Trident underground will be the fourth mine to be developed by Catalyst on the Plutonic Gold Belt – the first three being Plutonic East, Trident open pit and K2. In all of these developments, Catalyst has invested in 12-15 months of forward grade control drilling, ahead of the mines’ development.

Catalyst considers that this forward grade control drilling is an important step in de-risking future operations. It allows drill stocks to be developed ahead of the mine plan, providing flexibility during the higher risk ramp up phase.

The results of this program support the existing high-grade Resource. Results of the grade control program are noted below:

  • 17m at 42.7g/t Au • 18m at 5.8g/t Au

  • • 15m at 22.9g/t Au • 8m at 11.5g/t Au • 13m at 23.7g/t Au • 23m at 3.7g/t Au • 18m at 8.5g/t Au • 2m at 42.0g/t Au

  • 9m at 17.0g/t Au

  • • 12m at 10.3g/t Au

  • 11m at 7.4g/t Au

  • 3m at 24.5g/t Au

  • 6m at 11.2g/t Au

  • 9m at 6.6g/t Au

  • • 18m at 3.1g/t Au

  • 23m at 2.4g/t Au

  • 30m at 1.8g/t Au

  • 18m at 2.7g/t Au

Trident Gold Project

Trident is an underground gold deposit located 30km north-east of the underutilised Plutonic processing plant. Mining of a small open pit at Trident commenced in July 2025 and is expected to be completed in

ASX:CYL

2

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the coming weeks. At completion of open pit mining, an underground portal will be established at the base of this open pit.

Trident underground comprises a probable Reserve of 2.5Mt at 5.0g/t Au for 397koz of gold and a Resource of 4.7Mt at 5.3g/t Au for 795koz Au (including indicated of 2.6Mt at 6.4g/t Au for 527koz Au)[3] .

Trident is currently the second largest deposit on the Plutonic Gold Belt. The underground mine is expected to operate at a run rate of around ±60koz per annum and will form the second base load ore source feeding the Plutonic processing plant.

Catalyst’s 10-year production plan

In September 2025, Catalyst released a 10-year production plan showing growth in gold production at the Plutonic Gold Belt from ±100koz pa to ±200koz pa (refer to Figure 2). This production is planned to be sourced from five underground mines - Plutonic Main, Plutonic East, Trident, K2 and Old Highway.

Drilling being undertaken at Trident is designed to convert Resources to Reserves and exploration targets to Resources. Trident, K2 and Old Highway underground mines are three higher-grade ore sources to be brought on-line. Higher grade ore sources will lift the overall blended grade to be processed at the Plutonic processing plant. This in turn is expected to lower unit costs (refer to Figure 2).

The nearby Cinnamon deposit is not included in this production plan, however due to recent exploration results, Catalyst is reconsidering this position and how it might be included.

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Figure 2: Catalyst’s 10-year production target[4,5]

  • 4 ASX announcement 8 May 2025 “Catalyst to acquire Old Highway Gold Project”.

5 ASX announcement 10 September 2025 “Plutonic Belt Reserves double, supporting long term growth plans” and “Investor Presentation”

ASX:CYL

3

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This announcement has been approved for release by the Board of Directors of Catalyst Metals Limited.

Investors and Media:

Craig Dingley Catalyst Metals T: +61 (8) 6324 0900 [email protected]

Competent Person’s Statement

The information in this announcement that relates to exploration results is based on information compiled by Mr Andrew Finch, BSc, a Competent Person who is a current Member of Australian Institute of Geoscientists (MAIG 3827). Mr Finch, Head of Exploration and Geology, at Catalyst Metals Ltd has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities 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. Mr Finch consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

JORC 2012 Mineral Resources, Ore Reserves

The information in this announcement that relates to a Catalyst estimates of ore reserves and mineral resources are extracted from ASX announcements referenced and available on the Company website www.catalystmetals.com.au and the ASX website (ASX code: CYL).

Catalyst confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market 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 market announcement.

Catalyst confirms that all material assumptions underpinning the production target, or the forecast financial information derived from a production target, in the initial announcement continue to apply and have not materially changed.

ASX:CYL

4

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Figure 3: Plutonic Gold Belt showing location of Trident relative to the Plutonic processing facility

5

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Appendix 1: TRIDENT DRILLHOLE DATA

SIGNIFICANT INTERCEPTS ABOVE 10 GRAM METRES

End Gram Estimated
Dip Azimuth From To Downhole Au
Project Hole ID Easting Northing RL of metres True Width
(°) (°) (m) (m) Length (m) (g/t)
Hole (m) (g*m) (m)
Trident TRR1229 765341.2
7213598.9
585.0
-90.0
15.3
84.0		 NSI
Trident TRR1230 765368.8
7213593.3
585.1
-89.4
83.8
114.0
60.0
74.0
14.0
2.5
35.4
8.4
Trident TRR1231 765383.9
7213604.9
585.1
-90.0
0.0
120.0		 NSI
Trident TRR1232 765374.4
7213629.6
585.1
-89.2
341.3
114.0		 NSI
Trident TRR1233 765406.6
7213610.7
585.3
-62.8
15.3
108.0
77.0
78.0
1.0
28.4
28.4
0.6
Trident TRR1234 765393.0
7213635.0
585.0
-89.8
219.9
123.0		 NSI
Trident TRR1235 765331.3
7213739.4
598.9
-59.7
150.4
159.0
128.0
138.0
10.0
1.0
10.1
10.0
Trident TRR1236 765318.1
7213762.4
597.9
-59.8
147.9
167.0
124.0
133.0
9.0
1.3
12.0
9.0
Trident TRR1237 765407.3
7213629.5
585.0
-89.1
166.2
116.0		 NSI
Trident TRR1238 765395.4
7213649.5
585.1
-89.3
183.6
132.0		 NSI
Trident TRR1239 765419.9
7213615.1
585.1
-54.9
127.5
73.0		 NSI
Trident TRR1240 765402.9
7213628.4
585.0
-60.0
130.5
102.0
70.0
75.0
5.0
6.4
32.1
3.8
Trident TRR1241 765389.1
7213643.1
585.1
-61.7
128.6
134.0
109.0
114.0
5.0
3.6
17.8
3.7
Trident TRR1242 765409.6
7213643.3
585.0
-89.5
251.7
123.0		 NSI
Trident TRR1243 765359.1
7213730.5
598.2
-58.3
150.4
152.0
116.0
127.0
11.0
2.2
23.8
11.0
Trident TRR1244 765341.9
7213762.2
598.4
-60.1
150.0
159.0
124.0
132.0
8.0
1.4
11.1
8.0
Trident TRR1244 765341.9
7213762.2
598.4
-60.1
150.0
159.0
138.0
150.0
12.0
2.1
25.7
12.0
Trident TRR1245 765418.9
7213630.6
585.1
-58.0
130.1
82.0		 NSI
Trident TRR1246 765417.4
7213640.0
585.2
-59.9
130.6
106.0		 NSI
Trident TRR1247 765396.2
7213701.5
598.8
-53.2
148.0
170.0		 NSI
Trident TRR1248 765378.9
7213735.6
599.3
-59.3
150.8
151.0		 NSI
Trident TRR1249 765360.2
7213770.1
599.5
-58.7
149.4
163.0
126.0
149.0
23.0
3.7
85.6
22.8
TRR1249
Includes		 137
138
1
25.9
25.9
Trident TRR1250 765434.4
7213692.6
599.6
-56.6
156.1
139.0
90.0
97.0
7.0
5.2
36.5
4.5
TRR1250
Includes		 94
95
1
29.7
29.7
Trident TRR1251 765430.9
7213701.1
599.2
-55.9
156.2
156.0
116.0
119.0
3.0
24.5
73.4
2.3
TRR1251
Includes		 116
118
2
35.8
71.5
Trident TRR1252 765418.5
7213705.6
599.1
-60.5
149.8
167.0		 NSI
Trident TRR1253 765410.9
7213716.9
599.1
-60.5
148.7
190.0		 NSI
Trident TRR1254 765393.5
7213750.9
599.5
-56.3
149.8
160.0		 NSI
Trident TRR1255 765422.3
7213717.5
598.9
-58.4
151.6
168.0
91.0
95.0
4.0
3.1
12.3
2.0
Trident TRR1256 765410.3
7213736.0
599.2
-59.9
149.4
197.0
128.0
133.0
5.0
2.3
11.7
5.0
Trident TRR1257 765453.8
7213685.4
599.9
-59.0
152.2
123.0		 NSI
Trident TRR1258 765444.7
7213700.8
599.7
-60.3
150.2
146.0
104.0
112.0
8.0
2.9
23.0
6.0
Trident TRR1259 765432.3
7213722.0
599.3
-60.0
148.1
168.0
92.0
110.0
18.0
8.5
153.4
8.5
TRR1259
Includes
TRR1259
Includes		 97
98
1
45.8
45.8
100
101
1
59.4
59.4
Trident TRR1259 765432.3
7213722.0
599.3
-60.0
148.1
168.0
135.0
139.0
4.0
6.7
26.7
3.0
Trident TRR1260 765422.5
7213748.8
599.3
-56.1
154.5
193.0
93.0
96.0
3.0
5.7
17.2
3.0
Trident TRR1260 765422.5
7213748.8
599.3
-56.1
154.5
193.0
124.0
130.0
6.0
11.2
67.4
6.0
TRR1260
Includes		 127
128
1
29.9
29.9
Trident TRR1260 765422.5
7213748.8
599.3
-56.1
154.5
193.0
137.0
143.0
6.0
4.8
28.7
3.3
Trident TRR1261 765399.6
7213778.9
599.9
-60.0
149.8
186.0
120.0
128.0
8.0
1.9
14.8
8.0
Trident TRR1261 765399.6
7213778.9
599.9
-60.0
149.8
186.0
147.0
158.0
11.0
2.2
24.4
10.9
Trident TRR1262 765443.3
7213724.1
599.5
-60.3
149.4
158.0
126.0
129.0
3.0
3.6
10.8
2.3
Trident TRR1263 765439.6
7213730.5
599.4
-60.1
148.3
169.0
120.0
138.0
18.0
5.8
103.7
13.0
Trident TRR1264 765469.8
7213701.9
600.0
-59.7
151.2
113.0		 NSI
Trident TRR1265 765458.4
7213721.4
599.6
-60.1
148.7
145.0
110.0
119.0
9.0
17.0
153.3
6.7
TRR1265
Includes		 112
114
2
70.2
140.4

6

==> picture [578 x 89] intentionally omitted <==

End Gram Estimated
Dip Azimuth From To Downhole Au
Project Hole ID Easting Northing RL of metres True Width
(°) (°) (m) (m) Length (m) (g/t)
Hole (m) (g*m) (m)
Trident TRR1266 765446.7
7213740.2
599.4
-60.7
151.0
169.0
85.0
94.0
9.0
2.1
18.6
9.0
Trident TRR1266 765446.7
7213740.2
599.4
-60.7
151.0
169.0
98.0
116.0
18.0
2.3
41.2
17.9
Trident TRR1266 765446.7
7213740.2
599.4
-60.7
151.0
169.0
138.0
141.0
3.0
6.3
18.9
2.2
Trident TRR1267 765437.0
7213755.0
599.0
-60.4
151.5
69.0		 NSI
Trident TRR1267A 765437.0
7213755.0
599.0
-60.2
152.8
69.0
115.0
146.0
31.0
1.2
37.8
31.0
Trident TRR1267A 765437.0
7213755.0
599.0
-60.2
152.8
69.0
153.0
158.0
5.0
6.2
31.0
3.6
Trident TRR1268 765475.7
7213724.7
599.8
-60.0
151.9
132.0
72.0
79.0
7.0
1.6
11.3
7.0
Trident TRR1269 765465.0
7213741.9
599.7
-59.0
145.6
153.0
65.0
67.0
2.0
5.9
11.7
2.0
Trident TRR1270 765452.5
7213767.4
599.8
-57.0
150.0
42.0		 NSI
Trident TRR1270A 765452.5
7213767.4
599.8
-57.1
149.5
42.0
102.0
114.0
12.0
0.9
10.7
11.9
Trident TRR1270A 765452.5
7213767.4
599.8
-57.1
149.5
42.0
137.0
139.0
2.0
6.2
12.5
Trident TRR1271 765492.0
7213720.5
600.4
-60.3
150.8
120.0
80.0
83.0
3.0
8.8
26.3
2.3
Trident TRR1272 765469.0
7213781.0
600.0
-57.3
151.4
161.0
118.0
136.0
18.0
1.8
31.9
18.0
Trident TRR1273 765454.3
7213799.2
600.4
-56.0
145.9
180.0
133.0
156.0
23.0
2.4
55.0
22.9
Trident TRR1274 765438.0
7213832.0
601.0
-59.3
149.6
193.0
157.0
169.0
12.0
10.3
123.0
11.9
TRR1274 Includes 162
164
2
41.2
82.3
Trident TRR1275 765505.0
7213769.0
600.0
-59.0
156.2
143.0		 NSI
Trident TRR1276 765493.0
7213782.0
600.0
-57.1
151.9
163.0
122.0
126.0
4.0
3.5
14.1
3.1
Trident TRR1277 765485.0
7213792.0
601.0
-59.7
151.4
169.0
143.0
149.0
6.0
1.8
10.6
4.7
Trident TRR1278 765481.0
7213799.0
601.0
-58.8
149.0
187.0
123.0
140.0
17.0
1.5
25.5
17.0
Trident TRR1279 765511.0
7213773.0
600.0
-57.5
154.6
140.0
93.0
111.0
18.0
3.1
56.0
13.8
Trident TRR1280 765510.0
7213787.0
600.0
-64.5
151.0
161.0
125.0
133.0
8.0
2.8
22.3
5.7
Trident TRR1281 765494.0
7213816.0
601.0
-59.8
149.9
187.0
142.0
172.0
30.0
1.8
54.0
21.6
Trident TRR1282 765480.0
7213840.0
601.0
-59.5
151.5
234.0
148.0
165.0
17.0
42.7
725.4
16.9
TRR1282 Includes 153
155
2
333
665.3
Trident TRR1282 765480.0
7213840.0
601.0
-59.5
151.5
234.0
194.0
209.0
15.0
1.2
17.6
11.9
Trident TRR1283 765495.0
7213855.0
601.0
-68.2
153.8
234.0
153.0
161.0
8.0
11.5
92.0
8.0
TRR1283 Includes 154
155
1
65.5
65.5
Trident TRR1284 765532.0
7213831.0
601.0
-59.7
148.6
170.0
112.0
114.0
2.0
42.0
84.0
2.0
TRR1284 Includes 112
113
1
72.5
72.5
Trident TRR1284 765532.0
7213831.0
601.0
-59.7
148.6
170.0
126.0
139.0
13.0
23.7
308.4
9.3
TRR1284 Includes 129
131
2
131
262
Trident TRR1285 765516.0
7213868.0
602.0
-61.9
154.1
233.0
145.0
163.0
18.0
2.7
47.9
17.9
Trident TRR1286 765548.0
7213842.0
602.0
-60.7
152.0
169.0
129.0
135.0
6.0
2.2
13.4
4.6
Trident TRR1287 765542.0
7213854.0
602.0
-61.8
151.5
193.0
138.0
147.0
9.0
6.6
59.0
7.1
Trident TRR1288 765532.0
7213869.0
602.0
-61.2
150.6
214.0
139.0
152.0
13.0
1.8
23.5
13.0
Trident TRR1288 765532.0
7213869.0
602.0
-61.2
150.6
214.0
161.0
166.0
5.0
3.7
18.5
5.0
Trident TRR1289 765530.0
7213883.0
602.0
-61.6
154.3
234.0
156.0
161.0
5.0
2.6
12.8
5.0
Trident TRR1290 765568.0
7213827.0
602.0
-61.5
149.8
137.0
65.0
77.0
12.0
2.8
33.4
7.5
Trident TRR1290 765568.0
7213827.0
602.0
-61.5
149.8
137.0
123.0
129.0
6.0
7.0
41.8
3.0
Trident TRR1291 765574.0
7213838.0
602.0
-60.7
150.1
146.0		 NSI
Trident TRR1292 765565.0
7213853.0
602.0
-61.2
152.5
168.0
128.0
129.0
1.0
10.6
10.6
0.8
Trident TRR1292 765565.0
7213853.0
602.0
-61.2
152.5
168.0
134.0
136.0
2.0
6.9
13.8
1.5
Trident TRR1293 765551.0
7213877.0
602.0
-60.5
151.3
214.0
157.0
166.0
9.0
2.4
21.3
9.0
Trident TRR1293 765551.0
7213877.0
602.0
-60.5
151.3
214.0
177.0
183.0
6.0
4.5
26.9
4.5
Trident TRR1294 765578.0
7213880.0
602.0
-55.6
152.8
177.0
130.0
145.0
15.0
0.9
13.5
11.7
Trident TRR1295 765566.0
7213892.0
602.0
-60.8
147.8
217.0
177.0
188.0
11.0
7.4
81.6
8.5
TRR1295 Includes 186
187
1
28.5
28.5
Trident TRR1296 765558.0
7213926.0
602.0
-60.3
150.3
180.0		 NSI
Trident TRR1297 765606.0
7213941.0
602.0
-59.6
150.0
214.0
171.0
186.0
15.0
22.9
342.8
11.6
TRR1297 Includes 177
179
2
151
301.7
Trident TRR1298 765506.4
7213730.3
600.6
-66.9
154.0
122.0		 NSI

7

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Section 1 Sampling Techniques and Data Trident Underground Deposit (Criteria in this section apply to all succeeding sections)

Criteria Commentary
Sampling
techniques		 •
This release relates to results from grade control Reverse-circulation drilling (RC) completed from
surface drill platforms at the Trident Underground Deposit.
•
A total of 72 holes were drilled for 11,221m for which all assays have been received, and form the
basis of this Exploration Results announcement.
•
The holes were sampled at a 1m interval from the rig mounted cyclone.
•
The Trident deposit has historically been sampled using numerous drilling and sampling techniques
by both Catalyst Plutonic and previous operators. Drilling and sampling techniques by previous
operators are assumed to have been to industrystandards at that time.
Drilling techniques •
Reverse Circulation drilling was conducted utilizing a 5.75 inch face sampling bit.
Drill sample
recovery		 •
RC drilling was bagged on 1 metre intervals and an estimate of sample recovery has been made on
the size of each sample.
•
There is no known relationshipbetween sample recoveryandgrade at the Trident deposit.
Logging •
All holes were logged on site by a qualified geologist.
•
All holes were logged on 1 m intervals.
•
Samples have been logged to a level of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
•
Logging is both qualitative and quantitative and is based on geological boundaries.
•
Logging records include: depth from, depth to, lithology, texture, colour, alteration style, alteration
intensity, alteration mineralogy, sulphide (percentage and type), quartz (percentage), veining, and
general comments.
•
A small sample of rock chips for each metre is kept in a chip tray and stored on site.
•
All RC chiptrays are digitally photographed.
Sub-sampling
techniques and
sample
preparation		 •
For each metre 2 calicos bags of rock chips were collected from the rig mounted cyclone. One with
the sample number and one with the recorded depth to be kept for re-sample purpose and stored
in bulka bag at the on-site core farm.
•
Duplicate samples are collected every 20 samples.
•
All samples were dispatched to the ALS laboratory in Perth for gold fire assay analysis.
•
Sample preparation procedures for RC chip samples includes:
o
1-4 hours drying at 105°C depending on moisture content
o
samples are generally between 1.3kg and 2.4kg. The few ones higher than 3kg are split prior
to pulverising using a 50:50 riffle splitter.
o
Pulverise to 90% passing 75μm
o
Scoop 250-300g
o
Ore grade Au by lead collection fire assay with AAS (Au-AA26), 50g nominal sample weight.
•
Sample preparation protocols and sample sizes are considered appropriate for the style of
mineralisation encountered and shouldprovide representative results.
Quality of assay
data and
laboratory tests		 •
CRM samples are inserted every 20 samples and Blank samples every 100 samples.
•
Certified Reference Material (CRM’s) are of similar grade tenor to those expected grades in the
sampling and were selected based on their grade range and mineralogical properties with an
emphasis on sulphide ores.
•
Coarse blank material ranges from 0.5kg up to 1 kg.
•
Field duplicates were inserted every 40 samples.
•
Crush sizing analysis is conducted randomly by the Laboratory as part of their QC process. This data
is monitored by the Laboratory Supervisor. Grind times can be lengthened accordingly.
•
Current procedures dictate a process of validation and checking of laboratory results when data is
returned by the laboratory as it is loaded into the Quest database. A standard set of plots and checks
are undertaken, and if results fall outside of the expected limits, then re-assaying is requested. QAQC
reports are automatically generated via a PowerBi interface created by the database administrator
and available for checking as required. Any CRM or blank failures in a batch generates an email alert
that is distributed to all relevant Catalystpersonnel for investigation and action if required.

8

==> picture [578 x 89] intentionally omitted <==

Criteria Commentary
Verification of
sampling and
assaying		 •
Drilling data was verified by the geologist first and then the Database Administrator before
importing into the main Quest database (proprietary database system).
•
Logging is completed electronically on laptops. Database protocols and rules are applied upon data
entry.
•
All drill data within site databases are regularly validated using both internal database systems and
external validation tools.
•
There is no requirement for twinned holes in aproduction setting.
Location of data
points		 •
UG hole collar locations are picked up regularly by site surveyors.
•
Downhole surveys are completed using a DeviGyro survey instrument every 3 metres.
•
Downhole surveys are visually inspected for anomalous changes in drill trace, (i.e does the drill hole
apparentlybend inordinately).
Data spacing and
distribution		 •
Grade control spacing typically required for underground stope definition is at a nominal spacing of
7.5m by7.5m.
Orientation of data
in relation to
geological
structure		 •
Drilling is orientated as close to perpendicular to mineralisation where possible. However,
orientation to the lodes may be compromised by access to suitable drill platforms.
•
Mineralised zones can have multiple orientations ranging from shallow dipping (30 degrees) to sub-
vertical.
•
The variable drill orientation relative to mineralisation is not thought to make a material difference
in the resource estimation.
Sample security •
The chain of custody is managed by Catalyst employees and contractors.
•
The Project Geologist and Senior Geologist complete quality control checks on the GC drilling data
daily.
•
Field Staff are primarily responsible for collecting sample bags, generating the sample numbers and
the sample submission sheet, adding blanks, selecting and recording the CRM’s to be sent to the
laboratory and the transportation of the samples to the laboratory.
•
Coarse reject samples are stored on site.
•
Once a hole has been sampled, the sample intervals and checked geology documents are uploaded
into the Quest database system managed by EarthSQL.
•
The independent Database Administrator (DBA) merges the validated drilling data with the certified
laboratory assay files where validation routines for QAQC are completed before database exports
and reports are issued.
•
Drill logs are kept in hard copyand electronically.
Audits or reviews •
CRMs, blanks and duplicates are reviewed continuously and indicate that sampling and analysis
has been completed appropriately with no significant issues discovered.
•
No external audit or reviews of sampling techniques have been undertaken however the data is
managed bycompany geologist who has internal checks/protocols inplace for allQA/QC.

Section 2 Reporting of Exploration Results Trident Underground Deposit

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

Criteria Commentary
Mineral
tenement and
land tenure
status		 •
Located in the Marymia - Plutonic Greenstone Belt ~218 km northeast of Meekatharra in the
Midwest mining district in WA
•
Trident is located in M52/217 – a granted tenement in good standing.
•
The tenement predates Native title interests, but is covered by the Gingirana Native Title claim.
•
The tenement is 100% owned by Catalyst Metals Limited.
•
Goldproduction will be subject to a 2.5%government royalty.
Exploration done
by other parties		 •
Comprehensive drilling of the deposit was first undertaken by Resolute Limited from 1995 to 1998
completing approximately 263 RC and 37 DD holes.
•
From 1999 Homestake and then later Barrick Gold (2002) completed numerous drilling campaigns at
Trident.
•
Dampier Gold completed RC and DD programs at Trident from 2012 until 2014 when Vango Mining
took over the project completing 6 Diamond holes for 946 metres plus three RC holes for 747
metres.

9

==> picture [578 x 89] intentionally omitted <==

Criteria Commentary
•
Catalyst consolidated the belt in 2023 following the successful acquisition of Vango Mining and the
merger with Superior Gold Inc.
•
Since then Catalyst has completed several drill programs at Trident for various purposes including
resource definition,infill,extensional and openpit/undergroundgrade control drilling.
Geology •
Gold mineralisation at Trident is orogenic, hosted within a sheared contact zone in ultramafic rocks.
Shallow plunging high grade ‘shoots’ of mineralisation are associated with flexures in the mineralised
host shear zones combined with steeply dipping intersecting structures.
•
The mineralisation consists of multiple stacked zones, with the main mineralised domain extending
along a northeast/southwest strike for 1100m. The system dips at 30 degrees towards 330 degrees
and extends down dip for at least 1000m and remains open at depth. Mineralised zones can vary in
width from 0.6m up to 15m with an average thickness of 4.5m.
•
The higher grade zones are focussed along north-south structures and multiple north-east trending
shoots and at the interaction points of these two dominant trends.
•
The orientation of mineralisation can be variable particularly where cross-cutting structures are
intersected. These inflexion points are likely dilation zones which can host thicker and higher grade
mineralisation intersection.
•
An overthrust granite package forms the barren hanging wall to mineralisation hosted within the
sheared ultramafic host rock package.
•
The mineralised zones are characterised by biotite-phlogopite alteration with a sulphide assemblage
ofpyrite-pyrrhotite-chalcopyrite-arsenopyrite.
Drill hole
Information		 •
A table of drill hole data pertaining to this release is attached.
Data aggregation
methods		 •
Reported drill results are uncut and reported above a nominal 10 gram-metre intercept.
•
All relevant intervals to the reported mineralised intercept are length weighted to determine the
average grade for the reported intercept.
•
All significant intersections were compiled using a lower cut-off grade of 0.5 g/t Au including a
maximum of 3m of internal dilution. Where individual intervals are below this cut off and have a gold
grade of less than 10 gram-metres they are reported as being a Not Significant Intercept (NSI).
•
High-grade results greater than 25 g/t Au were aggregated using length weighting and reported as
separate intervals.
•
No top cuts were used in reporting the drill results
•
No metal equivalents are reported.
Relationship
between
mineralisation
widths and
intercept lengths		 •
Drilling is orientated as close to perpendicular to mineralisation where possible. However, orientation
to the lodes may be compromised by access to suitable drill platforms.
•
Mineralised zones can have multiple orientations ranging from shallow dipping (30 degrees) to sub-
vertical.
•
Downhole lengths are reported for this phase of drilling.
•
Estimated true widths for each drill intercept are also included in the tabulation of drill results.
Diagrams •
Appropriate diagrams are included in the report.
Balanced
reporting		 •
All holes being reported are included in the tables.
•
Diagrams show the location and tenor of both high and lowgrade samples.
Other substantive
exploration data		 •
No additional exploration data is included in this release.
Further work •
Underground Grade Control and surface Infill and extensional drilling programs will continue in line
with mine development andproduction requirements.

10

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Figure 4: Trident plan view with representative cross section location

11

==> picture [580 x 91] intentionally omitted <==

==> picture [676 x 378] intentionally omitted <==

  • Figure 5: Trident cross section

12

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