DALAROO METALS LTD — Capital/Financing Update 2026

Jan 6, 2026

==> picture [560 x 52] intentionally omitted <==

==> picture [560 x 52] intentionally omitted <==

----- Start of picture text ----- ASX ANNOUNCEMENT ASX: DAL 07 Jan 2026----- End of picture text -----

Dalaroo Metals Completes Blue Lagoon Acquisition

---

Dalaroo Metals Limited (“ Dalaroo ”, or the “ Company ”, ASX:DAL ) is pleased to advise that it has completed the acquisition of a 100% interest in the Blue Lagoon Project, located in south-west Greenland.

The Blue Lagoon Project is held under exploration licence MEL 2022-07 and is situated within the Gardar Alkaline Province, a globally recognised geological belt prospective for zirconium ( Zr ), niobium (Nb) and rare earth element (REE) mineralisation ( Figure 1 ). The Project is interpreted to be prospective for near-surface, bulk-tonnage heavymineral style mineralisation, derived from the in-situ weathering of alkaline intrusive rocks and subsequent sedimentary concentration processes.

Completion of the acquisition follows satisfaction of all condition’s precedent under the previously announced transaction. With settlement now finalised, Dalaroo holds full ownership and operational control of the Project and its associated exploration rights, providing the Company with flexibility to advance exploration programs in line with its technical and capital allocation strategy.

Geological and Exploration Rationale

The Blue Lagoon Project is underpinned by historical regional geochemical work undertaken by the Geological Survey of Denmark and Greenland (GEUS) in 1979. This work identified elevated concentrations of zirconium, niobium and rare earth elements in stream-sediment samples collected across the Project area. These anomalous results were not subjected to systematic follow-up exploration and pre-date the application of modern exploration techniques, including contemporary geochemical analysis, mineralogical characterisation and geospatial interpretation.

Dalaroo considers the Project to be geologically compelling for several key reasons:

• The Project is located within a globally recognised alkaline intrusive province known to host significant zirconium, niobium and rare earth element occurrences;

• The interpreted near-surface mineralisation styles have the potential to offer advantages in terms of mining selectivity and processing simplicity when compared with deeper, hard-rock rare earth element systems; and

• The Project area remains largely under-explored, presenting an opportunity to apply modern exploration methodologies to reassess historical anomalies and systematically evaluate the scale, continuity and mineralogical characteristics of any mineralised horizons.

The presence of advantageous geological conditions, minimal prior exploration, and contemporary investigative methods establishes a robust technical foundation for systematic and disciplined exploration efforts.

Geological Setting

The Project lies within the Paleoproterozoic rift province of South Greenland, which comprises sedimentary sequences intruded by a variety of alkaline volcanic and plutonic igneous rocks. This rift setting was subsequently intruded by Mesoproterozoic Gardar-age alkaline intrusive complexes, which are recognised globally for their association with critical mineral systems.

==> picture [559 x 55] intentionally omitted <==

Exploration licence MEL 2022-07 is located within the Helene alkaline granite, forming the westernmost exposure of the Nunarsuit Complex. The Nunarsuit Complex is the largest, and among the youngest, of the Gardar-age intrusions in South Greenland and is comprised predominantly of alkaline syenitic and granitic units. The Project area is bounded to the east by extensive alkalic syenite, further reinforcing the prospectivity of the geological setting for zirconium, niobium and rare earth element enrichment.

==> picture [474 x 300] intentionally omitted <==

Figure 1. Location of the Blue Lagoon Project, South-West Greenland.

Recent Work and Forward Program

Dalaroo has recently completed a maiden reconnaissance field program over the southern portion of the Blue Lagoon Project. The program was designed to validate historical datasets and refine exploration targets and included:

• Reconnaissance geological mapping;

• Surface geochemical sampling; and

• Preliminary assessment of surficial material and weathering profiles.

A total of 33 samples from this program have been submitted for laboratory analysis. The results of this work will be used to calibrate historical geochemical anomalies and assist in prioritising areas for follow-up exploration.

Strategic Significance

The acquisition of the Blue Lagoon Project represents a strategic addition to Dalaroo’s growing portfolio of critical minerals assets. Zirconium, niobium and rare earth elements are increasingly important inputs for advanced manufacturing, electrification, renewable energy technologies and defence-related applications.

==> picture [565 x 33] intentionally omitted <==

The Project provides Dalaroo with exposure to these commodities in a jurisdiction that is attracting increasing international interest for critical minerals development, particularly from Western economies seeking to diversify supply chains.

Management Commentary

Dalaroo CEO John Morgan commented:

“The completion of the Blue Lagoon acquisition represents an important step in Dalaroo’s strategy to build a diversified portfolio of high-quality exploration assets with exposure to critical minerals.”

“Blue Lagoon presents a compelling geological opportunity in a proven alkaline province, with historical geochemical data indicating anomalous zirconium, niobium and rare earth element values that have never been systematically followed up using modern exploration techniques.”

“Our initial field program marks the first step in applying contemporary geological, geochemical and mineralogical approaches to the Project. While the Project remains at an early stage, the geological setting and near-surface exploration concept align well with our focus on assets that have the potential for scale and favourable development characteristics.”

“We look forward to receiving assay results from the maiden program and advancing exploration in a disciplined and technically rigorous manner as we work to unlock value for shareholders.”

ENDS

Authorised for release to the ASX by the Board of Dalaroo Metals Ltd.

For more information:

Please visit our website for more information: www.dalaroometals.com.au

John Morgan, T: +61 410 774 319 E: jmorgan@dalaroometals.com.au

CAUTIONARY NOTE

The information in this release regarding sampling results and geological observations is based on preliminary field data that have not yet been verified by independent laboratory assays. While the Company believes the information to be accurate, readers are cautioned that the results are indicative only and should not be interpreted as evidence of a mineral resource or reserve. Further analytical and validation work is required to confirm the presence, grade, and continuity of mineralisation.

COMPETENT PERSON 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

==> picture [565 x 33] intentionally omitted <==

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 may contain certain forward-looking statements and comments about future events, including expectations regarding the Blue Lagoon Project, timing of assay results, and planned exploration activities. Forward-looking statements are subject to risks, uncertainties, and assumptions that may cause actual outcomes to differ materially from those expressed or implied. Factors that could cause such differences include changes in economic and market conditions, exploration outcomes, permitting timelines, and other risks described in the Company’s public filings. Readers are cautioned not to place undue reliance on forwardlooking statements. Dalaroo Metals Ltd undertakes no obligation to update or revise these statements except as required by law.

==> picture [565 x 33] intentionally omitted <==