CLASSIC MINERALS LTD — Capital/Financing Update 2026

Mar 4, 2026

C LASSIC MINERALS LIMITED 71 Furniss Rd, Landsdale Western Australia 6065 ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

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05 March 2026

ASX Announcement

Market Update

Classic Minerals Appoints Corporate Adviser to Review Strategic Opportunities.

Classic Minerals Limited (ASX: CLZ) (“Classic” or “Company”) advises that it has appointed Australian Finance & Development Corporation Pty Ltd (“AFDC”) as corporate adviser under a 90-day exclusive mandate to undertake a strategic review of selected Company assets.

The mandate will support the Company in evaluating and pursuing potential funding, partnership, acquisition or divestment opportunities relating to its asset portfolio. The review forms part of Classic’s ongoing strategy to optimise asset value and advance development across its Forrestania Gold Project tenements in Western Australia .

Through this engagement, AFDC will work with the Company to identify and assess strategic transactions capable of unlocking value and supporting the progression of Classic’s exploration and development initiatives within the Forrestania district .

The appointment is entirely success-based , with no advisory fees payable unless a transaction is completed.

There is no certainty that any transaction will result from this process , and the Company will continue to keep the market informed in accordance with its continuous disclosure obligations should any material outcome arise.

This announcement has been authorised for release by the Board of Classic Minerals Limited.

ENDS:

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C LASSIC MINERALS LIMITED 71 Furniss Rd, Landsdale Western Australia 6065 ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

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ABOUT THE FORRESTANIA GOLD PROJECT

Classic has inferred and indicated mineral resources of 6.95 Mt at 2.05 g/t for 297,579 ounces of gold , classified and reported in accordance with the JORC Code (2012). The current post mining Mineral Resource for Lady Ada and Lady Magdalene is tabulated below. Additional technical detail on the Mineral Resource estimation is provided, further in the text below and in the JORC Table 1 as attached to ASX announcements dated 18 December 2019 and 21 January 2020.

	Indicated	Indicated		Inferred	Inferred			Total
		Grade			Grade			Grade	Oz Au
Prospect	Tonnes	(Au g/t)	Oz Au	Tonnes	(Au g/t)	Oz Au	Tonnes	(Au g/t)
Lady Ada	540,339	1.62	28,143	809,642	1.23	32,018	1,349,981	1.39	60,161
Lady Magdalene	956,494	1.36	41,823	4,644,033	1.31	195,595	5,600,527	1.32	237,418
Total	1,496,833	2.3	69,966	5,453,675	1.885	227,613	6,950,508	2.05	297,579

Notes:

1. The Mineral Resource is classified in accordance with JORC, 2012 edition

2. The effective date of the mineral resource estimate is 12 June 2024.

3. The mineral resource is contained within FGP tenements

4. Estimates are rounded to reflect the level of confidence in these resources at the present time.

5. Mineral resources for Lady Ada and Lady Magdalene (Ladies) are reported at 0.5 g/t Au cut-off grade.

6. Depletion of the resource from historic open pit mining has been considered for the Ladies deposits.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this market announcement and, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Forward Looking Statements - Disclaimer

This ASX announcement (Announcement) has been prepared by Classic Minerals Limited (“Classic” or “the Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement.

This Announcement contains summary information about Classic, its subsidiaries and their activities which is current as at the date of this Announcement. The information in this Announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Classic.

By its very nature exploration for minerals is a high-risk business and is not suitable for certain investors. Classic’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Classic and of a general nature which may affect the future operating and financial performance of Classic and the value of an investment in Classic including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel.

Certain statements contained in this announcement, including information as to the future financial or operating performance of Classic and its ‐ projects, are forward looking statements that:

• may include, among other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions;

• are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Classic, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and,

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated ‐ events or results reflected in such forward looking statements.

‐ Classic disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‐ ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward looking statements.

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C LASSIC MINERALS LIMITED 71 Furniss Rd, Landsdale Western Australia 6065 ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that ‐ ‐ forward looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein. No verification: Although all reasonable care has been undertaken to ensure that the facts and opinions given in this Announcement are accurate, the information provided in this Announcement has not been independently verified.

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