LCL RESOURCES LIMITED — Capital/Financing Update 2025

Jun 24, 2025

ASX RELEASE 25 June 2025 ASX:LCL

REGISTERED OFFICE: Suite 6, Level 1, 389 Oxford Street, Mount Hawthorn WA 6016 PH: + 61 (8) 6245 9879 EMAIL: info@lclresources.au lclresources.au ABN 43 119 759 349

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Field Work commences at Ubei

LCL Resources Limited (ASX: LCL) ( LCL or the Company ) is pleased to announce the commencement of exploration field work at the Puma prospect at Ubei in Papua New Guinea ( PNG ).

Highlights:

• Maiden field work program for LCL at Ubei has commenced

• Previous rock chips have returned grades up to 4.29% copper and 367.7g/t gold[1]

• Reprocessed IP geophysics confirms robust target below high-grade rock chips

The Ubei area comprises one half of the Company’s EL-2432 tenement in PNG; the other half is Liamu, the site of the Dada porphyry discovery[2] ( Figure 1 ).

The Ubei area was previously explored by GoldMinex (formerly ASX: GMX) between 2004 and 2013 who collected an airborne VTEM survey and completed a Pole-Dipole Induced Polarization ( IP ) survey. The Company recently engaged Terra Resources to review the historical IP survey data to validate a historical target outlined below the high-grade rock chip samples collected on the Puma vein. These surface geochemical samples included outcrop rock chips of 4.29% copper and 367.7g/t gold[1] within zones of silicification and chalcopyrite breccia coincident with the IP anomaly ( Figure 2 ). This Puma vein mineralisation, which is undrilled, is considered a similar mineralisation style to veins mined by K92 Mining (TSX: KNT) at the Kainantu gold-copper mine in PNG.

Local vein exposures suggest a dip of approximately 60 degrees to the SE which projects down dip to a large, modelled chargeability (IP) high at a depth of ~200m ( Figure 2 ). Surface geochemistry suggests the mineralised corridor could potentially be up to ~60m wide[3] .

As well as geochemical assays, the current work program is aimed at providing surface data such as vein orientations and thicknesses in anticipation of the first drilling campaign at Puma.

Executive Chairman Chris van Wijk commented:

“We are very excited to explore the Ubei license. The Puma target has demonstrated the potential for some very high grades at surface and the historical IP which we have reprocessed demonstrates a very strong conductor, suggestive of sulphides at depth. There is a good analogue system in the veins of the Kainantu deposit, with which our geologists are very familiar, so we feel positive that we have a robust target at Puma that is worthy of further work. The directive from our major shareholders has been very clear: test the portfolio for world class systems. This work program is the first step towards a definitive test of this target.”

1 ASX Announcement 25 November 2022

2 ASX Announcement 11 November 2024

3 ASX Announcement 23 February 2023

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Figure 1: Location Map of the Company's PNG Cu-Au projects at Liamu and Ubei

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Figure 2: Ubei IP Chargeability anomaly 200m depth slice with surface rock chip geochemistry gold assays

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This announcement has been authorised by the Board of LCL Resources Limited.

For further enquiries contact:

Chris van Wijk

Executive Chair info@lclresources.au

FORWARD LOOKING STATEMENTS

This report contains forward-looking statements that involve several risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

COMPLIANCE STATEMENT

With reference to previously reported Exploration Results, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement.