DALAROO METALS LTD — Board/Management Information 2026

Apr 19, 2026

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ASX ANNOUNCEMENT:
ASX: DAL | OTCQB: DALMF 20 April 2026
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Dalaroo Appoints Exploration Manager and Provides Blue Lagoon Technical Update

Dalaroo Metals Limited ( ASX: DAL, OTCQB: DALMF ) ( “Dalaroo” or “the Company” ) is pleased to announce the appointment of Mr Trystan Hughes as Exploration Manager – Greenland and Western Australia, together with a technical update on its Blue Lagoon Project in Greenland.

Highlights:

• Appointment of experienced geologist Trystan Hughes as Exploration Manager – Greenland & Western Australia

• Prior Greenland experience at Nalunaq Gold Project strengthens in-country capability

• Geological model supports a interpretation consistent with a sediment-hosted critical minerals system at Blue Lagoon

• Results provide clear pathway for follow-up exploration and target definition

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Figure 1. Location Map of Blue Lagoon in Southern Greenland.

Click Here For more information about Dalaroo, please follow the link:

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Management & Technical Update

The Company is also pleased to advise that Trystan Hughes has commenced with Dalaroo Metals as . Exploration Manager – Greenland and Western Australia

Mr Hughes’ appointment positions the Company well as it transitions into its next phase of systematic exploration and target definition.

Mr Hughes is an experienced geologist with over a decade of industry experience spanning exploration, resource development and mining operations across a range of commodities including gold, nickel, lithium and iron ore. He brings a strong track record in the design and execution of both greenfields and brownfields exploration programs, with demonstrated success in target generation, geological modelling, resource estimation and the delivery of JORC-compliant datasets. Mr Hughes is a long-term member of the AusIMM and holds a BSc Geology (Hons) from Cardiff University, an MSc Mining Geology from Camborne School of Mines and a Graduate Diploma in Mining from the Western Australia School of Mines.

Importantly, Mr Hughes has prior international experience in Greenland, having worked on the high-grade Nalunaq gold project. During this time, he was involved in both production and exploration geology, including helicopter-supported regional mapping and sampling programs that contributed to the identification of new exploration targets. He also completed structural and geotechnical assessments to support underground mine development, providing him with valuable insight into operating in remote Arctic environments and the logistical and technical challenges associated with exploration in Greenland.

Mr Hughes has previously held Exploration Manager responsibilities, managing multi-commodity exploration programs across Western Australia, including soil geochemistry, auger drilling, geological mapping and drill program design. He has a strong focus on data quality, QA/QC processes and efficient program execution, and has contributed to resource growth through systematic exploration and re-evaluation of underexplored datasets.

In addition to his exploration expertise, Mr Hughes brings strong project management capability, including contractor management, program budgeting, tenement expenditure compliance and the delivery of exploration programs in remote and logistically complex environments. His technical skillset is complemented by proficiency in industry-standard geological software platforms and data systems, supporting robust geological interpretation and efficient workflow integration.

The appointment of Mr Hughes further enhances Dalaroo’s in-house technical capability at a critical time as the Company advances its Blue Lagoon Project in Greenland and continues exploration activities across its Western Australian portfolio. His combination of hands-on exploration experience, project management capability and direct Greenland exposure is expected to support the Company’s next phase of systematic exploration and target generation across its key assets.

Geological Interpretation – Sediment-Hosted System

Recent exploration work completed at the Blue Lagoon Project has provided important insights into the behaviour and distribution of heavy minerals within the lagoon and surrounding sedimentary environment.

Sediment sampling undertaken across multiple transects has identified elevated zirconium (ZrO₂) values within lagoon and nearshore sediments. Several anomalous samples occur along natural drainage pathways trending from the lagoon toward the coastal outlet. This distribution is consistent with hydraulic sorting processes, where dense heavy minerals are preferentially concentrated within lower-energy depositional environments.

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Importantly, assay results indicate that elevated zirconium and associated critical mineral values are preferentially concentrated within the finer grain size fractions of the sampled material. This enrichment in the fine fraction suggests that heavy mineral phases may be liberated through weathering of source rocks and subsequently mechanically sorted and concentrated during transport and deposition within the lagoon system. The observed relationship between grain size and grade provides an important vector for future sampling, program designs and may have positive implications for potential beneficiation characteristics.

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Figure 2. Erosional pathway from an Elevated Source through to a Lagoon setting. Conceptual illustration (AI-generated), not to scale.

The spatial relationship between anomalous samples, drainage pathways and local topography indicates that the lagoon system acts as a natural sediment trap. Heavy minerals derived from surrounding alkaline and granitic source rocks are interpreted to be liberated through weathering and subsequently transported into the lagoon system, where they accumulate within fine-grained sediment fractions.

This emerging geological model supports a interpretation consistent with a sediment-hosted critical minerals system associated with the Blue Lagoon drainage network. The model provides a strong technical basis for ongoing exploration programs aimed at defining the scale, continuity and grade distribution of mineralisation within the lagoon and associated sedimentary environments.

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Figure 3. Plan map of Blue Lagoon showing cross section lines.

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Figure 4. Cross section Line One Showing sample points and deposition towards Lagoon.

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Fi gure 5. Cross section Line Two Showing sample points and deposition towards Lagoon.

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Figure 6. Cross section Line Three Showing sample points and deposition towards Lagoon.

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Figure 7. Cross section Line Four Showing sample points and deposition towards Lagoon.

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Figure 8. Cross section Line Five Showing sample points and deposition towards Lagoon.

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Figure 9. Cross section Line Six Showing sample points and deposition towards Lagoon.

About the Blue Lagoon Project

The Blue Lagoon Project is a 100%-owned critical minerals exploration asset held by Dalaroo Metals Ltd in south-west Greenland , under exploration licence MEL 2022-07 . The Project is located within the Gardar Alkaline Province , a globally recognised geological belt prospective for critical minerals including zirconium (Zr), niobium (Nb) and rare earth elements (REE).

of Dalaroo completed the acquisition of the Project in January 2026, securing full ownership and operational control the licence. This ownership structure provides the Company with flexibility to advance exploration activities and prioritise technical programs in line with its broader exploration strategy and capital allocation framework.

The Project area hosts a coastal lagoon and nearshore sedimentary system interpreted to be derived from erosion of surrounding alkaline and granitic source rocks within the Gardar Province. These rocks are known to contain minerals capable of hosting rare earth elements, zirconium and niobium. Weathering and coastal transport processes are considered to have the potential to liberate and concentrate heavy minerals within lagoonal and shallow marine sediments. Early reconnaissance work by Dalaroo has identified geological features consistent with this model, supporting the potential for a sediment-hosted critical minerals system and providing a strong basis for ongoing exploration programs designed to evaluate the scale and distribution of mineralisation.

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Figure 10. Photo of Blue Lagoon Northern Beach.

Geological Setting

The Project lies within the Paleoproterozoic rift province of South Greenland, intruded by Mesoproterozoic Gardar-age alkaline complexes which are globally recognised for hosting critical mineral systems. The licence area is located within the Helene alkaline granite , forming the westernmost exposure of the Nunarsuit Complex – the largest and youngest Gardar intrusion in the region. The surrounding geology, including extensive alkalic syenite units, reinforces the strong prospectivity for REE, Zr and Nb mineralisation.

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Figure 11. Geological Map of Blue Lagoon Project.

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Jurisdictional Significance

The Blue Lagoon Project is closely aligned with Dalaroo Metals Ltd ’s strategy to build exposure to high-value critical minerals within stable, premier jurisdictions. Greenland has emerged as an increasingly important focus for governments and industry seeking secure, transparent and responsibly developed sources of critical minerals, including rare earth elements, niobium and zirconium. The region’s significant geological endowment, combined with a supportive regulatory framework and growing geopolitical relevance, positions Greenland as a potential future contributor to Western critical-minerals supply chains.

Recent public commentary from both the European Union and the United States Government has highlighted Greenland’s potential role in diversifying global critical-minerals supply. These initiatives emphasise the importance of establishing resilient supply chains capable of delivering responsibly sourced rare earth elements and other strategic metals, as Western economies seek to reduce reliance on concentrated supply sources and strengthen long-term industrial security.

Against this backdrop, Dalaroo’s exploration activities at Blue Lagoon provide exposure to a jurisdiction attracting increasing international interest. Early field programs have identified geological characteristics considered favourable for critical-minerals mineralisation. This positions the Company to advance exploration within a region that is expected to play an increasingly important role in the global supply of strategic minerals.

Management Commentary

Dalaroo’s CEO John Morgan commented:

“Recent sediment sampling results at Blue Lagoon are improving our understanding of heavy mineral distribution within the lagoon system.

Elevated zirconium values along drainage pathways support a coherent geological model and provides a clear basis for follow-up exploration.

We are also pleased to welcome Trystan Hughes, whose experience will strengthen our capability as we advance exploration across Greenland and Western Australia.”

Exploration Manager Greenland and Western Australia Trystan Hughes commented:

“I am very excited to be joining Dalaroo Metals as we look to grow, develop and unlock the potential of our portfolio of strategically positioned multi-commodity projects in established mining jurisdictions known for their wealth of critical minerals. The Blue Lagoon Project presents a compelling exploration opportunity, with early results highlighting the potential for sediment-hosted critical mineral accumulation. I look forward to advancing systematic exploration programs to better define the scale and distribution of mineralisation across the project.”

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This announcement has been authorised for release to the ASX by the Company's Board of Directors.

ENDS

For more information:

Dalaroo Metals Website Please visit our website for more information:

John Morgan Chief Executive Officer T: +61 410 774 319 E: info@dalaroometals.com.au

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About Dalaroo Metals

Dalaroo Metals Limited is an ASX-listed exploration company focused on the discovery and development of high-quality gold and critical minerals projects across Australia and international jurisdictions.

The Company’s portfolio includes the Blue Lagoon Project in southern Greenland , prospective for rare earth elements (REE), zirconium and niobium, a growing suite of gold exploration assets in Côte d’Ivoire located within the highly endowed Birimian Greenstone Belt of West Africa, and the Lyons River Project and Namban Project in Western Australia.

Dalaroo’s strategy is to systematically advance its projects through modern exploration techniques, resource definition and strategic partnerships, with a strong focus on value creation for shareholders. The Company is committed to responsible exploration, strong corporate governance and building long-term stakeholder relationships in the regions in which it operates.

Competent Persons Statement

The information in this report that relates to exploration results is based on information compiled by John Morgan, a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and the CEO of Dalaroo Metals Ltd. Mr Morgan has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity 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 Morgan consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Forward-Looking Statements

This announcement contains forward-looking statements which are based on current expectations, assumptions, estimates and projections. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These risks include, but are not limited to, exploration success, geological interpretation, commodity price fluctuations, regulatory approvals, permitting timelines, operational risks and market conditions.

Any statements regarding potential mineralisation, exploration targets, grades, scale or development concepts are conceptual in nature and based on early-stage surface sampling only. These statements do not constitute, and should not be construed as, a Mineral Resource or Ore Reserve estimate as defined under the JORC Code. References to peer projects, market pricing, strategic significance or potential future development pathways are provided for contextual purposes only and should not be interpreted as a forecast of future performance or valuation. Commodity pricing information is indicative only, subject to market volatility and should not be relied upon as a projection of future prices. Investors are cautioned not to place undue reliance on forward-looking statements. Dalaroo Metals Limited undertakes no obligation to update or revise any forward-looking statements, except as required by law.

The Company confirms it is not aware of any new information or data that materially affects the information included in this announcement.

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