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KILLI RESOURCES LIMITED Interim / Quarterly Report 2026
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Interim / Quarterly Report
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Q
killi
RESOURCES
QUARTERLY REPORT
MARCH 2026
ASX: KLI
29 April 2026
QUARTERLY HIGHLIGHTS
Copper and Gold Exploration in Australia
Mt Rawdon West Project
- The recently identified King Louie gold-copper-molybdenum breccia is established as a high-ranking drill target within the Mt Rawdon West Project.
- The 1,100m x 225m breccia hosted soil and rock-chip anomaly is associated with a large subvolcanic intrusive centre, with similarities to intrusion-related hydrothermal gold systems located elsewhere in Queensland.
- Priority drill targets have also been defined at the Baloo prospect, including -
- The Rawdon Fault copper-gold-molybdenum geochemical and geophysical anomaly located adjacent to the regionally significant Mt Rawdon Fault; and
- The Wonbah Shaft target situated along a highly irregular contact between the granodiorites, coincident with the intersection of second and third order structures.
- A Queensland Government Collaborative Exploration Initiative (CEI) grant has been approved for drilling of the primary area of interest within the Rawdon Fault target at the Baloo prospect
- Preparations for drilling at Mt Rawdon West have been hindered by the sever wet season in Queensland. Access protocols and site preparation works to recommence once field conditions improve.
West Tanami Gold Project
- Exploration by Gold Fields Limited as part of their earn-in on Killi's West Tanami Gold Project is progressing well. Results from a program of regional soil sampling (1,200m spaced sample points), completed in the 2025 field season, has resulted in the delineation of several areas of interest. The proposed program for the 2026 field season includes field validation of the identified targets, with more detailed (infill) soil sampling and/or drilling to be considered on the basis of merit.
Corporate
- Killi has strengthened its corporate team with Neville Power appointed to the Board as Chairperson and industry leaders Steve Parsons, Michael Naylor and Hamish Halliday engaged as consultants.
- Associated with these appointments, the Company received firm commitments for a $1.4m two tranche Placement. Tranche 1 was completed on 27 March 2026 raising $1m before costs.
- Killi remains well-funded to continue its exploration activities, closing the March Quarter with A$1.936m in cash (excluding second tranche Placement cash of $0.4m, which is subject to shareholder approval on the 12th May 2026) and investments of approximately A$465k.
KILLI Resources Limited | Quarterly Activities Report | www.killi.com.au | ASX:KLI
Figure 1: Location of Killi Resources' Projects in Australia.
Killi Resources Limited (ASX: KLI) ("Killi Resources" or "the Company") is pleased to provide its exploration and corporate activities report for the quarter ending 31 March 2026 ("Quarter").
EXPLORATION ACTIVITIES
Mt Rawdon West Project (100% Owned, Queensland)
The 100% owned Mt Rawdon West Project ("Mt Rawdon") is the focus of Killi's exploration, where it has identified significant copper and gold mineralisation defined by high-grade rock chips within large soil geochemical anomalies. The Company's ongoing discovery of new areas of mineralisation at Mt Rawdon highlight the prospectivity of the large project area.
Mt Rawdon is located 20 kilometres northwest of the Mt Rawdon Gold Mine (ASX: EVN) and 60 kilometres inland of Bundaberg in Queensland. The project consists of one granted 305km² tenement, covering the intersection of the highly prospective Mt Rawdon gold corridor with the Mt Perry copper-gold corridor (Figure 2).
Recent exploration at Mt Rawdon has highlighted large areas of geochemical anomalies at the Baloo and King Louie prospects (ASX announcement 28th October 2025). The remainder of the project area remains relatively unexplored.
Baloo
Baloo is a 4 kilometre x 1.5 kilometre copper-gold-molybdenum-bismuth soil geochemical anomaly occupying the junction of major intrusive bodies and regionally significant structures. During the Quarter, Killi provided an update on exploration activities at Mt Rawdon where recent exploration
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
identified two priority target areas, including the Mt Rawdon Fault and King Louie Breccia prospects (Figure 2 and 3) (ASX announcement 11 February 2026) (ASX announcement 26th March 2026).
Preferred drill targets for the more advanced Mt Rawdon Fault prospect have been defined and an application to the 'Round 10' of the Collaborative Exploration Initiative (CEI), offered by the Queensland Government, was submitted. This application for co-funding of the drilling has been successful.
Rawdon Fault Prospect
Historical exploration at Mt Rawdon West has focused on outcropping mineralisation in the form of Mt Perry style extensional quartz sulphide veins (bearing copper and gold). Killi has significantly advanced the understanding of high priority areas at Mt Rawdon West with the analysis and interrogation of extensive historic and new surface geochemical sampling. Early work identified geochemical signatures consistent with intrusive related mineralisation (ASX announcement 20th May 2024). Recent results have refined these anomalies for drilling (ASX announcement 11th February 2026).
Figure 2: Mt Rawdon West Project – Area of activity, including prospects, key interpreted structure and geochemical areas of interest over an aeromagnetic geophysical image.
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
Further analysis and interpretation of the detailed ground magnetic survey data suggest the contact of the Wonbah Granodiorite, Tenningering Granodiorite and Curtis Island Group Metasediments is associated with a circular magnetic high surrounded by a circular magnetic low, diagnostic of a hydrothermal porphyry system. The coincidence of these geophysical features with the Rawdon Fault geochemical anomaly is highly encouraging.
Proposed Drilling Program and CEI Grant
The proposed drilling for the CEI grant includes two holes for a total of 900 metres of core drilling, providing an initial test for the Mt Rawdon Fault prospect. An agreement between the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development (State of Queensland) and Access Australia Mining Pty Ltd (a wholly owned subsidiary of Killi Resources Limited), defines processes for exploration activities pertaining to the CEI grant. These proposed exploration activities must be completed and reported by 1st February 2027.
Additionally, drilling must commence by 1st October 2026 and be completed by 4th December 2026. Subject to completion of prescribed works and the reporting of results to the satisfaction of the Queensland Government, the co-funded value of the CEI grant is up to A$275,000 (incl GST).
Figure 3: Colour first vertical derivative (1VD) ground magnetic image successfully demarcating the contact between the Wonbah and Tenningering Granodiorites. The significant magnetic high and lows highlight the high degree of fluid flow along the contacts. Also the interpreted indicative characteristics of a porphyry system associated with the contacts of the Wonbah/Tenningering Granodiorites and the older Curtis Island Metasediments proximal to the Mt Rawdon Fault and geochemical target area - Rawdon Fault.
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
King Louie Gold-Copper-Molybdenum Prospect
During the Quarter, Killi completed a surface sampling program designed to test extensions of the large, unconstrained gold, copper and molybdenum soil and rock-chip anomaly associated with the recently identified King Louie Breccia – a priority drill target at Mt Rawdon (ASX announcement 31st March 2026). The associated soil geochemical anomaly is prominent, with peak assay values of 33 times background for gold, 15 times background for copper and 28 times background for molybdenum (ASX announcement 11 February 2026) (Figure 1 and 4).
New Interpretation Supports Targeted Mineral Deposit Model Types
Reconnaissance mapping and sampling completed during the Quarter indicates the King Louie Breccia is associated with a large volcanic or subvolcanic (shallow) intrusive centre, with similarities to known Triassic-aged intrusion-related hydrothermal gold systems located elsewhere in Queensland.
Figure 4: Overview diagram of recently completed exploration activities at the King Louie Breccia target area on 1VD aeromagnetic imagery.
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
The interpreted shallow-intrusive centre hosts lithologies including silicified felsic volcanics with disseminated pyrite (sulphide), chlorite-altered rhyolite with potassium feldspar phenocrysts and intense potassic alteration of rhyolite, as well as evidence of multi-phase silicification and brecciation. In association, these rock types are supportive of a geological setting favourable for intrusion-related gold deposits.
The King Louie Breccia is mapped over approximately 1,100 metres east-west, 225 metres north-south and is open to the west and south. To the east the breccia appears closed off by a north-northeast trending structure that links to the King Louie North geochemical anomalies (Figure 2). There is no evidence that this area has previously been prospected.
The breccia is distinctive, with coarse-grained, polymictic clasts within a very fine-grained iron-oxide matrix. Extreme weathering and leaching of this unit result in the breccia at surface manifesting as only quartz and clay-rich fragments. A high manganese to iron ratio from rock sampling supports assumptions of intense mineral leaching and depletion. Considering this mineral depletion, the level of gold, copper and molybdenum anomalism within the weathered breccia is highly encouraging.
Significantly, the King Louie Breccia delineates a focus of tectonic activity and gold-copper molybdenum rich hydrothermal fluid-flow. The identification of what could be a large source of hydrothermal activity associated with the breccia increases the prospectivity of the region.
Surface Sampling Program
Soil and rock chip sampling targeted an area southwest of the King Louie Breccia (Figure 4). A total of 116 soil samples tested an area of 2.4 kilometres x 2.7 kilometres. Samples were spaced 200 metres x 400 metres apart, with areas of interest sampled in more detail at 100 metres x 200 metres offset spacing (true distance ~140 metres apart). Ad-hoc rock chip sampling was completed where new rock types including rock types of interest were identified (25 samples in total). All samples are in transit to an independent commercial laboratory, with results expected in early May 2026. Further information regarding the sampling is provided in the Company's ASX announcement dated 31st March 2026.
Next Steps at Mt Rawdon West
Exploration at Mt Rawdon West is progressing towards drilling of priority targets.
King Louie Breccia – Gold Anomaly
- The King Louie Breccia presents a priority target for drilling. Identifying the best physical access routes for proposed drilling is required and is being undertaken in collaboration with land-use stakeholders. As a result of the extreme wet conditions currently being experienced, the most practical time for this drilling is expected to be this coming winter.
- Recently completed exploration programs are tailored to defining the extents of the King Louie Breccia system, an area of interest which has become larger due to recent exploration success. Mapping and sampling of these extensions are a priority and will continue.
Drilling at Wonbah Shaft and Rawdon Fault – Copper-Gold Targets
- Drilling approvals are to be acquired for the Mt Rawdon Fault and the Wonbah (Baloo) geochemical/ magnetic anomalies.
- A Collaborative Exploration Initiative (CEI) grant offered by the Queensland Government has been provided for drilling of the Mt Rawdon Fault geochemical/ geophysical anomaly (ASX announcement 26 March 2026).
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
WEST TANAMI GOLD PROJECT (100% owned, W.A. – Option and J.V. with Gold Fields Limited)
The West Tanami Project ("West Tanami") is in the Kimberley region of Western Australia, covering 1,600km² of the Tanami Geological Belt, on strike from major gold deposits.
Gold Fields Limited ("Gold Fields") (JSE: GFI) have the right to earn up to an 85% interest in the project by spending $13 million within seven years. The Joint Venture agreement between Killi and Gold Fields ensures West Tanami will be adequately and systematically explored in the coming years, leveraging the project to the financial market's sentiment for gold (ASX announcement 15 May 2024).
Gold Fields' exploration work commenced in November 2024 via an airborne gravity survey covering the 1,600km² project area (ASX announcement 27 November 2024), conducted on 200 metres spaced, east-west lines, over the entire West Tanami area. The survey provides a very detailed dataset, with early interpretations identifying several areas of interest, some supported by past exploration results.
This work defined the requirements for the next phase of exploration at West Tanami, including additional geophysical surveys and surface geochemical sampling. During the September Quarter, a TEMPEST airborne electromagnetic (AEM) survey was completed covering the entire project area, including 9,954 line-kms on a 200 metre east-west line-spacing. A regional soil sampling program covering the project was also competed during the December Quarter, 2025, including 958 samples on a 1,200 by 1,200 metre spacing.
The results and interpretations for both the AEM and soil sampling have been received and assessed. This work has resulted in the delineation of several areas of interest. The proposed program for the 2026 field season includes field validation of the identified targets, with more detailed (infill) soil sampling and/or drilling to be considered on the basis of merit.
CORPORATE
Killi Resources held cash reserves of $1.936 million as at 31 March 2026. This excludes $0.4m in Tranche 2 of a Placement, currently awaiting Shareholder approval at the General Meeting for 12th May 2026.
Investments held by the Company includes 1,290,860 Black Canyon Limited shares (ASX: BCA), valued at about $0.36/share (23 April 2026).
In accordance with Listing Rule 5.3.1, details of the Company's group exploration activities for the Quarter comprised exploration and evaluation costs associated with exploration activities detailed within this report at the Mt Rawdon West Project, as well as administrative overheads. The exploration expenditure for the Quarter was $160,000.
In accordance with ASX Listing Rule 5.3.2, the Company advise that no Mining, Development or Production activities were conducted during the Quarter.
Related Party Transactions
In accordance with ASX Listing Rules 4.7C.3 payments to related parties of the entity and their associates outlined in the Company's Appendix 5B for the Quarter relate to Directors fees of $42,000.
Neville Power Appointed Non-Executive Chair
On 23rd March 2026, the Company appointed former Fortescue Chief Executive Neville Power as Non-executive Chair effective 1st April 2026.
Highly regarded geologist Hamish Halliday was appointed Technical Consultant, along with successful resources executives Steve Parsons and Michael Naylor who have been appointed as consultants.
The Company advised that Phil Warren resigned as a director effective 1st April 2026. Richard Bevan remains on the Board as a Non-executive Director. The Board thanks Phil for his service and support as a founding director of the Company.
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
About Neville Power
Mr Power is an Australian engineer and corporate executive whose career spans more than four decades across mining, minerals processing, construction and steel making. Mr Power led the transformation of Fortescue into one of the world's major iron-ore producers, tripling its iron ore productions and dramatically reducing its production costs. Prior to joining Fortescue, Mr Power held Chief Executive positions at Thiess and the Smorgon Steel Group.
About Hamish Halliday
Mr Halliday is a geologist with 30 years of corporate and technical experience, who has been involved in the discovery and funding of multiple, large scale, mineral projects across five continents. Mr Halliday founded Adamus Resources Limited, which he grew from a A$3M IPO to a multi-million-ounce emerging gold producer. He also co-founded numerous other successful junior mining companies including Gryphon Minerals, Venture Minerals, Renaissance Minerals, Alicanto Minerals and most recently Blackstone Minerals.
Placement
Killi has received binding commitments for a placement of 37,473,683 new shares at an issue price of $0.038 per share ("New Shares") to raise ~$1.424 million before costs in a two-tranche placement to sophisticated, professional and other investors pursuant to section 708 of the Corporations Act 2001 (Cth) (ASX announcement 23rd March 2026).
Settlement and issue of 26,865,000 Placement Shares were issued under Tranche 1 which was finalised on 27th March 2026 (ASX announcement 27th March 2026).
A second tranche of 10,608,683 shares ("Tranche 2 Placement Shares") to be issued will be subject to shareholder approval at a general meeting schedules for the 12th May 2026.
Mr Power, Mr Parsons and Mr Naylor have cornerstoned the Placement, on the same terms as other participants, each providing firm commitments to subscribe for 8,955,000 New Shares (26,865,000 in total across Mr Power, Mr Parsons and Mr Naylor).
New Shares issued under the Placement will be fully paid ordinary shares in the Company and will rank equally with shares currently on issue.
Notice of General Meeting
Post-Quarter end, the Company advised it will hold a General Meeting on May 12th 2026 to seek shareholder approval for the issue of the Tranche 2 Placement Shares. Further details on the General Meeting time are available on the Company's website (ASX announcement 9th April 2026).
Performance Rights
As part of the appointment of Mr Power to Non-Executive Chair, the Company has agreed to issue him 7,000,000 performance rights ("Performance Rights") under the Company's employee securities incentive plan. The issue of the Performance Rights will not be subject to shareholder approval and will be made utilising the Company's 7.1 placement capacity (in reliance on Listing Rule 10.12 exception 12). The Performance Rights will vest upon the price of the Company's shares achieving a volume weighted average price of $0.10 or above, measured over a period of 20 consecutive trading days, following their date of issue. The Performance Rights will expire 3 years from the date of issue (ASX announcement 23rd March 2026).
Change of Registered Address
In accordance with ASX Listing Rule 3.14, Killi advises that its registered address and principal place of business changed, effective 1st April 2026 to: Level 2, 8 Richardson Street West Perth WA 6005. The Company's telephone number changed to: +61 8 6385 7960.
Change of Company Secretary
On 23rd March 2026, the Company advised that Mr Jamie Byrde has been appointed Company Secretary, effective 1 April 2026, replacing Ms Emma Wates.
Mr Byrde is an experienced finance and governance executive with extensive expertise in ASX-listed company compliance, corporate governance, financial reporting and capital markets, particularly within the resources sector. He is currently Executive Director and Company Secretary of Critica Limited, and a Non-Executive Director of Codrus Minerals Limited.
The Board thanks Ms Emma Wates for her service and support and welcomes Mr Byrde to the Company.
ABOUT KILLI RESOURCES
Killi Resources Ltd ('Killi' (ASX: KLI) is an Australia-based and focused explorer employing a methodical and disciplined approach to exploring for gold and copper in forgotten mineral provinces. Its 100% owned projects include the West Tanami Gold Project in Western Australia, and two gold-copper exploration projects in Queensland - the Mt Rawdon West Project near Bundaberg and the Ravenswood Project in the Charters Towers region (Figure 1) - both well-endowed mineral provinces that are significantly underexplored and amenable to new large-scale discoveries.
The Company also retains copper rights to the Balfour Project in the Pilbara of Western Australia (tenure held by Black Canyon (ASX: BCA)).
The Mt Rawdon West Project is Killi's flagship exploration asset, comprising of tenement EPM27828 which covers 309km² of prospective gold and copper ground between Evolutions Mt Rawdon Gold Mine and SolGold's Mt Perry Project, located inland 60 kilometres from Bundaberg in Queensland (Figure 1).
The project is an early-stage exploration play and hosts a large Cu-Au-Mo soil geochemical anomaly at the intersection of major structural breaks, extending from the Mt Perry and Mt Rawdon deposits. This geochemical anomaly is coincident with compelling geophysical features.
The Ravenswood North Project consists of five granted tenements totalling ~580km², mostly covering the prospective Ravenswood-Charter Towers gold corridor, host to Ravenswood Gold Mine, Charter Towers, Golden Valley, Kitty O'Shea, Mt Success and Piccadilly (Figure 5). The Company believes this project has the potential for an Intrusive-Related Gold System.
Figure 5: Location of Ravenswood North Gold and Copper Project in relation to existing Gold Mines in the Charter Towers Province, Queensland.
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
In Western Australia, the Company owns 100% of the West Tanami Project, including 1,634km² of granted tenure covering over 100 kilometre strike of the major gold corridor. The existing gold endowment of the
Figure 6: Location of West Tanami Gold and REE Project in relation to existing Gold and REE Mines in the Tanami Province.
Tanami
Gold Province is greater than 19M oz Au and includes the Callie, Tanami, Twin Bonanza, Coyote and Kookaburra mines (Figure 6).
Exploration at West Tanami is being undertaken by Gold Fields Limited (JSE: GFI), who have the right to earn up to an 85% interest in the project by spending $13 million within seven years. The Joint Venture agreement between Killi and Gold Fields ensures the project will be adequately and systematically explored in the coming years, leveraging it to the financial market's sentiment for gold.
This Announcement has been authorised by the Killi Resources Limited Board of Directors.
For enquiries contact:
Mr. Brett Smith
Chief Executive Officer
+61 8 6385 7960
[email protected]
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
Competent Person's Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Brett Smith. Mr Smith is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Smith has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking 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 Smith is a consultant to Killi Resources Limited and consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.
Compliance Statement
The information in this report that relates to Exploration Results are extracted from the ASX Announcements listed below which are available on the Company's website www.killi.com.au and the ASX website (ASX code: KLI):
Table 2: KLI ASX Announcements referenced in this report
| Date | Announcement title |
|---|---|
| 20th May 2024 | Mt Rawdon – Exploration recommences |
| 27th November 2024 | Gold Fields earn-in commences – West Tanami |
| 11th February 2026 | Mt Rawdon – New Areas of Mineralisation Identified |
| 23rd March 2026 | Nev Power Appointed Non-Executive Chair + $1.4m Placement |
| 23rd March 2026 | Proposed Issue of Securities - KLI |
| 26th March 2026 | Mt Rawdon West Project - Government Exploration Grant (Baloo) |
| 27th March 2026 | Application for Quotation of Securities – KLI |
| 27th March 2026 | Placement – Cleansing Statement |
| 27th March 2026 | Notification Regarding Unquoted Securities – KLI |
| 31st March 2026 | Becoming a Substantial Holder x 3 (N. Power; S. Parsons; S. Naylor) |
| 31st March 2026 | Mt Rawdon – King Louie Prospect Update |
| 9th April 2026 | Notice of General Meeting/ Proxy Form/ Notice of Access |
The Company 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 market announcements continue to apply and have not materially changed. The Company confirm that form and context in which the Competent Person's finding are presented have not been materially modified from the original market announcements.
This ASX announcement contains certain statements that may constitute "forward looking statement". Such statements are only predictions and are subject to inherent risks and uncertainties, which could cause actual values, results, performance achievements to differ materially from those expressed, implied or projected in any forward looking statements.
Forward looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.
These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
The Company believes that it has a reasonable basis for making the forward-looking Statements in the announcement based on the information contained in this and previous ASX announcements.
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
TENEMENT SCHEDULE
Table 3. Killi Resources Tenement Holding as at 31 March 2026
As required by listing rule 5.3.3
Iron Bull Bangemall Pty Ltd (a wholly owned subsidiary company of Killi Resources Limited)
Access Australia Mining Pty Ltd (a wholly owned subsidiary company of Killi Resources Limited)
| Project | Tenement Number | Holder | Killi Ownership (at end of quarter) | Change in Ownership |
|---|---|---|---|---|
| West Tanami – Gold Fields Joint Venture (Western Australia) | E80/5100 | Iron Bull Bangemall Pty Ltd | 100% | Nil |
| E80/5101 | Iron Bull Bangemall Pty Ltd | 100% | Nil | |
| E80/5102 | Iron Bull Bangemall Pty Ltd | 100% | Nil | |
| E80/5103 | Iron Bull Bangemall Pty Ltd | 100% | Nil | |
| Ravenswood Nth (Queensland) | EPM26889 | Access Australia Mining Pty Ltd | 100% | Nil |
| EPM26890 | Access Australia Mining Pty Ltd | 100% | Nil | |
| EPM26892 | Access Australia Mining Pty Ltd | 100% | Nil | |
| EPM26908 | Access Australia Mining Pty Ltd | 100% | Nil | |
| EPM26909 | Access Australia Mining Pty Ltd | 100% | Nil | |
| EPM28413 | Access Australia Mining Pty Ltd | 100% | Nil | |
| Mt Rawdon West (Queensland) | EPM27828 | Access Australia Mining Pty Ltd | 100% | Nil |
KILLI RESOURCES LIMITED | March 2026 Quarterly Report | ASX: KLI
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
Killi Resources Limited
ABN
74 647 332 790
Quarter ended ("current quarter")
31 March 2026
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | - | - |
| 1.2 | Payments for | ||
| (a) exploration & evaluation | (160) | (434) | |
| (b) development | - | - | |
| (c) production | - | - | |
| (d) staff costs | (105) | (374) | |
| (e) administration and corporate costs | (106) | (356) | |
| 1.3 | Dividends received | - | - |
| 1.4 | Interest received | 1 | 3 |
| 1.5 | Interest and other costs of finance paid | - | - |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Government grants and tax incentives | - | - |
| 1.8 | Other | - | - |
| 1.9 | Net cash from / (used in) operating activities | (370) | (1,161) |
| 2. | Cash flows from investing activities | ||
| --- | --- | --- | --- |
| 2.1 | Payments to acquire or for: | ||
| (a) entities | - | - | |
| (b) tenements | - | - | |
| (c) property, plant and equipment | - | (3) | |
| (d) exploration & evaluation | - | - | |
| (e) investments | - | - | |
| (f) other non-current assets | - | - |
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 2.2 | Proceeds from the disposal of: | ||
| (a) entities | - | - | |
| (b) tenements | - | - | |
| (c) property, plant and equipment | - | - | |
| (d) investments (Net of costs) | - | 569 | |
| (e) other non-current assets | - | - | |
| 2.3 | Cash flows from loans to other entities | - | - |
| 2.4 | Dividends received | - | - |
| 2.5 | Other (provide details if material) | - | - |
| 2.6 | Net cash from / (used in) investing activities | - | 566 |
| 3. | Cash flows from financing activities | ||
| --- | --- | --- | --- |
| 3.1 | Proceeds from issues of equity securities (excluding convertible debt securities) | 1,021 | 1,021 |
| 3.2 | Proceeds from issue of convertible debt securities | - | - |
| 3.3 | Proceeds from exercise of options | - | - |
| 3.4 | Transaction costs related to issues of equity securities or convertible debt securities | - | - |
| 3.5 | Proceeds from borrowings | - | - |
| 3.6 | Repayment of borrowings | - | - |
| 3.7 | Transaction costs related to loans and borrowings | - | - |
| 3.8 | Dividends paid | - | - |
| 3.9 | Other (provide details if material) | - | - |
| 3.10 | Net cash from / (used in) financing activities | 1,021 | 1,021 |
| 4. | Net increase / (decrease) in cash and cash equivalents for the period | ||
| --- | --- | --- | --- |
| 4.1 | Cash and cash equivalents at beginning of period | 1,285 | 1,510 |
| 4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (370) | (1,161) |
| 4.3 | Net cash from / (used in) investing activities (item 2.6 above) | - | 566 |
| 4.4 | Net cash from / (used in) financing activities (item 3.10 above) | 1,021 | 1,021 |
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 4.5 | Effect of movement in exchange rates on cash held | - | - |
| 4.6 | Cash and cash equivalents at end of period | 1,936^ | 1,936^ |
^Excludes Tranche 2 Placement of $0.4m subject to shareholder approval in May 2026.
| 5. | Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
|---|---|---|---|
| 5.1 | Bank balances | 1,936 | 1,285 |
| 5.2 | Call deposits | - | - |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other (provide details) | - | - |
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 1,936 | 1,285 |
| 6. | Payments to related parties of the entity and their associates | Current quarter $A'000 | |
| --- | --- | --- | |
| 6.1 | Aggregate amount of payments to related parties and their associates included in item 1 | 42 | |
| 6.2 | Aggregate amount of payments to related parties and their associates included in item 2 | - | |
| Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. |
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| 7. | Financing facilities
Note: the term “facility” includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end $A'000 | Amount drawn at quarter end $A'000 |
| --- | --- | --- | --- |
| 7.1 | Loan facilities | - | - |
| 7.2 | Credit standby arrangements | - | - |
| 7.3 | Other (please specify) | - | - |
| 7.4 | Total financing facilities | - | - |
| 7.5 | Unused financing facilities available at quarter end | | - |
| 7.6 | Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. | | |
| | N/A | | |
| 8. | Estimated cash available for future operating activities | $A'000 |
| --- | --- | --- |
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (370) |
| 8.2 | (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) | - |
| 8.3 | Total relevant outgoings (item 8.1 + item 8.2) | (370) |
| 8.4 | Cash and cash equivalents at quarter end (item 4.6) | 1,936 |
| 8.5 | Unused finance facilities available at quarter end (item 7.5) | - |
| 8.6 | Total available funding (item 8.4 + item 8.5) | 1,936 |
| 8.7 | Estimated quarters of funding available (item 8.6 divided by item 8.3) | 5.23 |
| | Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. | |
| 8.8 | If item 8.7 is less than 2 quarters, please provide answers to the following questions: | |
| | 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? | |
| | N/A | |
| | 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? | |
| | N/A | |
| | 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? | |
| | N/A | |
| | Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. | |
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Compliance statement
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- This statement gives a true and fair view of the matters disclosed.
Date: 29 April 2026
Authorised by: The Board of Killi Resources Limited
(Name of body or officer authorising release – see note 4)
Notes
- This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
- If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
- Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
- If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
- If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.