GBM RESOURCES LIMITED. — Capital/Financing Update 2026

Jan 14, 2026

Level 9, 28 The Esplanade, Perth, WA, 6000

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ASX ANNOUNCEMENT 15 January 2026

E reception@gbmex.com.au P (08) 9322 6322 gbmr.com.au ABN 91 124 752 745

SALE OF CLONCURRY PROJECT

GBM Resources Limited (ASX: GBM) (“GBM” or “the Company”) is pleased to advise that it has entered into an agreement with a subsidiary of Evolution Mining Limited (ASX: EVN) (“Evolution”) for the sale of the Company’s Cloncurry project (“Cloncurry”) in Queensland (“Divestment”).

Consideration comprises a cash payment of A$500,000 and a net smelter royalty of up to 2% on tenements at Cloncurry, allowing the Company to retain upside exposure to the project.

The Divestment is consistent with the Company’s strategy of unlocking value from its non-core asset portfolio, providing a non-dilutionary form of funding to advance its Drummond Basin gold assets in Queensland (~1.84Moz Mineral Resources).

For further information please contact:

Daniel Hastings Chief Executive Officer +61 (0) 408 036 534 dhastings@gbmex.com.au

Andrew Krelle Executive Director

andrew.krelle@gbmex.com.au

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Commercial Terms

The Company has entered into and completed a Share Sale and Purchase Agreement (“SSA”) with Evolution Mining (Connors Arc) Pty Ltd, whereby Evolution will acquire 100% of the issued capital of GBM’s wholly owned subsidiary, ISA Tenements Pty Ltd, the 100% beneficial and legal holder of Cloncurry for the following consideration:

• A$500,000 in cash; and

• A net smelter royalty:

• in respect of gold, (EPM 16398, EPM 16622, EPM 18172 and EPM 18207), 1%; and

• in respect of any other minerals from the tenements (included in the table below) which are not captured by the above, 2%.

The SSA includes standard representations and warranties. Evolution is an unrelated party to the Company.

Tenements comprising Cloncurry include:

No.	Name	Status	Reg. Holder
EPM 163981	Mt Malakoff Ext	Granted	ISA Tenements Pty Ltd
EPM 166221	Cotswold	Granted	ISA Tenements Pty Ltd
EPM 181721	Dry Creek	Granted	ISA Tenements Pty Ltd
EPM 18174	Dry Creek Ext	Granted	ISA Tenements Pty Ltd
EPM 19834	Mt Marge	Granted	ISA Tenements Pty Ltd
EPM 25544	Tommy Creek	Granted	ISA Tenements Pty Ltd
EPM 25545	Corella	Granted	ISA Tenements Pty Ltd
EPM 27128	Middle Creek	Granted	ISA Tenements Pty Ltd
EPM 27166	Sigma	Granted	ISA Tenements Pty Ltd
EPM 182071	Bungalien 2	Granted	ISA Tenements Pty Ltd
EPM 25213	The Brothers	Granted	ISA Tenements Pty Ltd

1 - subject to a 2% net smelter royalty payable to Alcrest Royalties Australia Pty Ltd, on all or part of the tenement area.

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About GBM Resources

GBM Resources Limited (ASX: GBM) is a Queensland based mineral exploration and development company focused on the discovery of world-class gold deposits in Queensland, Australia. The Company has a high calibre project portfolio, hosting district scale mineral systems located within the Drummond Basin (QLD). GBM’s flagship projects in the Drummond Basin (QLD) holds ~1.84 Moz of gold in JORC resources (Mt Coolon, Yandan and Twin Hills).

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Figure 1 – Drummond Basin Portfolio

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Appendix 1 - GBM Mineral Resource Estimate for the Drummond Basin Projects (Twin Hills, Yandan and Mt Coolon) along with other company interests

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The announcements containing the Table 1 Checklists of Assessment and Reporting Criteria relating to the 2012 JORC compliant Resources are:

• ➢ Koala/Glen Eva and Eugenia – GBM ASX Announcement, 4 December 2017, Mt Coolon Gold Project Scoping Study. ➢ Yandan – GBM ASX Announcement, 23 December 2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition, GBM ASX Announcement, 14 March 2023, Results of Yandan Mineral Resource Update

• ➢ Twin Hills – GBM ASX Announcements, 18 January 2019, Mt Coolon and Twin Hills Combined Resource Base Approaches 1 Million Ounces, 2 February 2022, Significant Resource Upgrade at Twin Hills Project and 5 December 2022, Twin Hills Gold Project Upgrades to ~1 Moz Mineral Resource

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Competent Person’s Statement

The information in this announcement that relates to the Company’s Mineral Resources is extracted from announcements named and dated in Appendix 1 of this announcement, is based on, and fairly represents information compiled by the relevant Competent Persons and can be viewed on the Company’s website. The Company confirms that: (a) it is not aware of any new information or data that materially affects the information included in the original announcements; (b) all material assumptions included in the original announcements continue to apply and have not materially changed; and (c) the form and context in which the relevant Competent Persons’ findings are presented in this announcement have not been materially changed from the original announcements.

No New Information

Except where explicitly stated, this announcement contains references to prior exploration results, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements.

The information in this announcement relating to the Mineral Resource estimates for the Twin Hills Gold Project (309 and Lone Sister) is extracted from the Company’s ASX announcement dated 5 December 2022. GBM confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply.

Forward Looking Statements

Certain information in this document refers to the intentions of GBM Resources Limited (ASX: GBM), however these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to GBM’s projects are forward looking statements and can generally be identified by the use of such words as ‘project’, ‘foresee’, ‘plan’, ‘planned’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’, or similar expressions. There can be no assurance that GBM’s plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause GBM’s actual results, performance or achievements to differ from those referred to in this announcement. While the information in this announcement has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in this announcement will occur as contemplated. Accordingly, to the maximum extent permitted by law, GBM and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy, reliability or completeness of the information in this announcement, or likelihood of fulfilment of any forward-looking statement; and do not make any representation of warranty, express or implied, as to the accuracy, reliability or completeness of the information in this announcement, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

This ASX Announcement has been authorised for release by the Company’s Board of Directors.

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