MAMBA EXPLORATION LIMITED — Capital/Financing Update 2026

Feb 1, 2026

ASX Announcement

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2 February 2025

Strategic Acquisition of a 70% Interest in Meeka East Gold Project & $2.0m Placement

Highlights

• Mamba has entered into a binding, conditional agreement to acquire a 70% interest in Meekatharra Minerals East Pty Ltd

• Meekatharra Minerals East Pty Ltd has the right to acquire the Meeka East Gold Project in the Murchison Goldfield, southeast of Meekatharra, which adds further optionality to the Company’s prospective gold tenure in WA

• The consolidated package of tenements includes tenure contiguous with Great Boulder Resource Limited’s (ASX: GBR) Side Well Project on the Mulga Bill trend extension. Mamba plans to target the continuation of this extension

• Mamba’s initial focus will be to conduct additional soil sampling to the full extent of the stratigraphy and structure across the Mulga Bill trend extension which demonstrates the potential for strike length over 6km, and subject to exploration results and heritage agreements, drilling priority targets

• Firm commitments received from new key supporters/investors and existing shareholders to raise $2 million before costs through an unbrokered share placement

• Resources industry executive Matt Freedman appointed Executive Director in conjunction with the proposed acquisition

• Experienced company Director and geologist Peter Schwann (previous Non-Executive Director of Westgold Resources ASX: WGX and Managing Director of Aruma Resources ASX: AAJ) joining as Technical Advisor

Mamba Exploration Limited (ACN 644 571 826) (‘Mamba’, ‘M24’ or the ‘Company’) is pleased to announce it has entered into a binding conditional share subscription deed agreement (‘Share Subscription Deed’) with Meekatharra Minerals Pty Ltd (‘MMPL’) to acquire a 70% interest in Meekatharra Minerals East Pty Ltd (‘MMEPL’) (‘Acquisition’). MMEPL has the rights to acquire the Meeka East Gold Project, comprising tenements located in the Murchison Goldfield southeast of Meekatharra.

Meeka East Gold Project

The Meeka East Gold Project (the ‘Project’) is located in the Murchison Goldfields, a region known for significant gold production. At completion the Project will contain thirty-nine exploration and prospecting licenses and will cover approximately 152 km[2] of prospective stratigraphy in a world class gold mining district. MMEPL has consolidated the rights to acquire 100% of the exploration and prospecting licenses except for E51/1832 which is the subject of an 80/20 joint venture arrangement with Taruga Minerals Limited.

Prior to its consolidation, the tenements comprising the Project were historically explored for various commodities. There has been limited exploration to date over the identified high-priority target areas. The Project has two initial prospects, the 140 Foot Well Gold Prospect in the northern portion of the Project and the Bella Gold Prospect in the south.

Historical exploration has been completed on the Project area by previous operators. Mamba has reviewed available historical information as part of its due diligence; however, only recent and relevant historical information is included in this announcement as the majority of the previous exploration (i) targeted areas that were not proximate to the high priority areas and/or (ii) primarily targeted commodity mineralisation other than gold mineralisation, and the limits of detection for gold geochemistry was too high to generate anomalies under cover

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 1 of 19

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and are therefore not material to Mamba’s strategy for the Project.

The initial areas of focus within the Project are covered by hardpan which has resulted in limited exploration of its gold prospectivity in the past. MMEPL has utilised modern exploration techniques under a new geological theory to reassess this ground, integrating geophysics with the available data.

Initial evaluation has identified a target at the northern area at the 140 Foot Well prospect, which will be evaluated in conjunction with the Geochemical Surveys at the Southern Extension of the Mulga Bill trend. The evaluation will also include the Bella Prospect within Gaba East Prospect area.

The stratigraphic unit and structure at Great Boulder Resources Limited’s (ASX: GBR) (GBR’) Mulga Bill Project continues into the underexplored northern area of the Project at the 140 Foot Well Prospect.[1]

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Figure 1 - Project Location of regional geology showing project Leases and prospects and Figure 2 (red square)

The northern 3km of strike within the Project was recently sampled using <80 mesh (180 micron) fine soil sampling at 50m spacing across the strike. The samples were assayed for gold by Intertek using a 0.1ppb Au

1 The Yaloginda Formation, as defined in the Geological Survey of Western Australia (‘GSWA]) 1:100,000 interpreted bedrock geology.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 2 of 19

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detection limit (AR10E MS). This defined the low-level (>2ppb Au) gold anomaly in all 5 sampling lines over a 3km strike length and coincided with the structure defined by GBR and the GSWA map. This stratigraphy and structure continues for approximately 3km into the Project’s focus area at the Mulga Bill trend extension. This creates potential for approximately 6km, or more, of total strike length (as shown in Figure 2).

Planned Exploration Activity

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Figure 2 - 140 Foot Well Prospect on Geology showing the Mulga Bill Trend and previous exploration

Meek East Gold Project

Mamba’s initial focus will be to complete additional soil sampling across the full extent of the stratigraphy and structure along the Mulga Bill trend extension. This area demonstrates potential for a strike length of more than 6km. Additional samples will be taken to infill the recent soil sampling that was undertaken within the areas at the northern end of the Project within the Mulga Bill trend extension, as well as to complete two close off line samples to the south.

The Project requires Heritage Agreements with the Yugunga Nya PBC, with who the Company has initiated engagement and intends to negotiate in a timely manner, followed by a program of works and heritage survey to be completed in line with areas defined by soil sampling.

Upon execution of Heritage Agreements, Mamba is planning a drilling program in the second quarter of 2026 that

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 3 of 19

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is currently envisioned to provide overlapping coverage across 200m of anomalies identified through recent soil sampling.

Ashburton Project

Mamba also intends to undertake field reconnaissance work at the Ashburton Project which covers approximately 580km² across two tenements (E08/2913 and E08/3343), located approximately 190km south of Onslow and 220km northeast of Carnarvon in Western Australia.

The region is dominated by major northwest-trending structures, including the Minga Bar Fault and Thirty Bob Bore Fault, which are recognised as key structural controls for gold mineralisation. The Minga Bar Fault represents one of the key mineralised corridors within this part of the orogen. Dreadnought Resources Limited (ASX: DRE) has reported promising gold anomalies along this same structural trend - including Midnight Star, Midday Moon, and Cullen’s Find, which have been a focus for recent drilling. This exploration success underscores the strong potential for further gold discoveries within Mamba’s Ashburton Project area.

During the September quarter, the Company undertook geological interpretation and desktop work to refine targets ahead of planning on-ground exploration. An updated review of historical datasets was completed, with mapping and sampling results to prioritise areas considered prospective for gold and base-metal mineralisation.

As outlined in the Company’s announcement dated 30 October 2025, the Company is preparing for an initial wide-spaced Ultra-Fine Fraction (“UFF”) soil sampling program at the Ashburton Project. The planned program will focus on a 34 km strike length of the Minga Bar Fault, targeting multiple structural corridors interpreted to be favourable pathways for mineralisation. Subject to initial results, a follow-up program is intended to include further detailed work along the Thirty Bob Bore Fault, which also demonstrates strong potential for gold mineralisation.

The planned Ashburton exploration activities will be supported by reconnaissance field work, geological mapping and further desktop interpretation to refine drilling targets. Mamba will provide further updates as exploration progresses.

Commenting on the proposed acquisition, Mamba’s Non-Executive Chairman, Simon Andrew said:

"Securing the Meeka East Gold Project represents a significant opportunity for Mamba. The project is located in the highly prospective Murchison Goldfield and with strong shareholder support through our $2 million placement, we are well positioned to advance exploration. This transaction strengthens our portfolio, brings regional geological experience and provides shareholders with exposure to a gold exploration opportunity in one of Western Australia’s prolific gold provinces."

Placement & Use of Funds

Mamba Exploration has received firm commitments from professional and sophisticated investors, including new key supporters/investors,to raise approximately $2 million (before costs) through an unbrokered Placement of 133,333,333 new fully paid ordinary shares in Mamba (‘Placement Shares’) at an issue price of $0.015 per share (‘Issue Price’) as follows:

• Tranche 1 of the Placement comprises 44,000,000 Placement Shares (~$0.66 million) which will be issued through the Company’s available placement capacity under ASX Listing Rule 7.1 (‘Tranche 1 Placement’); and

• Tranche 2 of the Placement comprises 89,333,333 Placement Shares (~$1.34 million) which will be issued subject to shareholder approval at an extraordinary general meeting (‘General Meeting’) proposed to be held on or around March 2026 (‘Tranche 2 Placement’).

The Placement Shares will rank equally with existing fully paid ordinary shares.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 4 of 19

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The issue price of $0.015 per New Share represents a discount of 35% to the 30-day volume weighted average price of $0.023 per share.

Proceeds of Tranche 1 of the Placement will be used for the exploration and development of the Meeka East Gold Project, as well as to further investigate the potential of the existing project portfolio, including reconnaissance field work at the Ashburton Project in the east of the Gascoyne Mining District of Western Australia, in addition to working capital requirements.

Settlement of Tranche 1 of the Placement is expected to be completed on Monday 9 February 2026. Settlement of Tranche 2 Placement is expected to be completed in March 2026, subject to prior Shareholder Approval at the General Meeting. A notice of meeting is expected to be circulated to shareholders in February 2026. Further details are set out in the transaction timetable at the end of this announcement.

The Directors will be participating in Tranche 2 of the Placement for a combined $90,000, subject to shareholder approval. The Company will pay a 6% selling fee to third party brokers who receive a firm allocation in the Placement.

Board & Management Transition

Mamba advises that, in conjunction with the proposed acquisition of the Project, the Company has made the following changes to its Board effective from the date of this announcement:

• Appointment of Mr Matt Freedman as Executive Director. Matt brings executive experience in the Resources industry and was previously Managing Director of diversified drilling group, Dynamic Group Holdings Ltd (ASX: DGH), he has also held non-executive board positions with ASX listed exploration companies. A summary of the Key Terms of Mr Freedman’s Employment is outlined within Annexure A.

• Transition of Mr Simon Andrew from Executive Director to Non-Executive Chair, ensuring continuity and governance oversight.

• Resignation of Ms Felicity Repacholi from Non-Executive Chair. The Board thanks Felicity for her valuable contribution and guidance during her time with Mamba and wishes her well in their future endeavors.

Mamba has agreed, subject to obtaining shareholder approval at the upcoming General Meeting, to issue a total of 19.5 million options to its Board and management team, as outlined in the table below:

• 6.5 million options exercisable at $0.03 on or before 3 years from the General Meeting (Class A);

• 6.5 million options exercisable at $0.04 on or before 3 years from the General Meeting (Class B); and

• 6.5 million options exercisable at $0.05 on or before 3 years from the General Meeting (Class C).

Experienced company Director and geologist Peter Schwann (previous Non-Executive Director of Westgold Resources Limited (ASX: WGX) and Managing Director of Aruma Resources Limited (ASX: AAJ)) joins the Company as a Technical Advisor effective from the date of this announcement. Peter brings to the Company a unique understanding of the Project, having conducted the exploration that has identified the priority targets.

Transaction Details

Mamba is pleased to advise that it has entered into a Share Subscription Deed with MMPL to acquire a 70% interest in MMEPL, which holds a 100% interest in the Project[2] . The consideration of the Acquisition payable at completion is structured as follows:

• Cash in the amount of $200,000;

• 2 E51/1832 is subject to an 80/20 joint venture with Taruga Minerals Limited

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 5 of 19

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• 59,033,122 fully paid ordinary shares (Consideration Shares’). The Consideration Shares will be subject to 12 months voluntary escrow and the issue of the Consideration Shares is subject to the Company obtaining shareholder approval under Listing Rule 7.1 at the General Meeting; and

• 1.5% net smelter return (NSR) royalty on all minerals extracted from the Project.

The Acquisition is subject to a number of conditions precedent and interim period covenants, including completion of due diligence to Mamba’s satisfaction, the tenements remaining in good standing, receipt of all necessary third party approvals, consents and waivers, completion of the Placement and the securing of all required regulatory and shareholder approvals under the ASX Listing Rules and the Corporations Act 2001 (Cth).

Following completion, Mamba and MMPL will establish a joint venture in respect of the Project. Under this arrangement, Mamba will hold a 70% interest and MMPL will retain a 30% interest. MMPL which will be free carried until the announcement of a Definitive Feasibility Study, ensuring that project development can be advanced efficiently while aligning both parties’ interests in the long-term success of the project.

Mr Freedman, Mamba’s Executive Director, is a shareholder and director of MMPL and indirectly will hold a 18.3% relevant interest in MMPL.

Indicative Timetable

An indicative timetable for the Acquisition and Placement is set out below. The timetable remains subject to change at the Company’s discretion and is subject to compliance with applicable laws and the ASX Listing Rules.

Event	Date
Announcement of the Acquisition and Placement, Return to trading on the ASX	Monday, 2 February 2026
Settlement of Trance 1 Placement	Monday, 9 February 2026
Issue and apply for quotation of Tranche 1 Placement Shares, lodge Appendix 2A with ASX	Tuesday 10 February 2026
Despatch of notice of General Meeting	February 2026
General Meeting to approve the Acquisition and Tranche 2 Placement	March 2026
Settlement of Tranche 2 Placement	March 2026
Issue and apply for quotation of Consideration Shares and Tranche 2 Placement Shares, lodge Appendix 2A with ASX	March 2026

An Appendix 3B follows this announcement.

– ENDS –

This announcement has been authorised for release by the board.

For more information, please visit our website, or contact:

Mr Matt Freedman Executive Director info@mambaexploration.com.au

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 6 of 19

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Annexure A - Summary of Key Terms of Employment:

Key Terms	Details
Position	Executive Director
Employment Agreement	Executive Services Agreement
Commencement Date	2 February 2025
Term	Mr Freedman will be appointed for an ongoing term, subject to termination by either party (see below).
Salary	$180,000 per annum (exclusive of statutory superannuation).
Incentives	Mr Freedman is entitled to Long Term Incentives (LTI) from time to time on terms determined by the Company and issue is subject the rules of the Mamba Employee Share Plan and where required, shareholder approval.
Termination and Notice	Either party may terminate Mr Freedman’s engagement by giving 3 months’ notice (unless under specific termination triggers as per the Executive Services Agreement as is customary).

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 7 of 19

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Competent Person Statement

The information in this release that relates to Exploration Results is based on and fairly represents, information and supporting documentation prepared by Peter Schwann, who is a consultant to the Company and a Technical Adviser to the Project. Peter is a Fellow of the Australian Institute of Geoscience (AIG) and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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 Reserve’. Mr Schwann consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This document contains “forward-looking statements” and “forward-looking information”, including statements and forecasts which include without limitation, expectations regarding future performance, costs, production levels or rates, mineral reserves and resources, the financial position of the Company, industry growth and other trend projections. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “is expecting”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Such information is based on assumptions and judgements of management regarding future events and results. The purpose of forward-looking information is to provide the audience with information about management’s expectations and plans. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, changes in market conditions, future prices of minerals/commodities, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns.

Forward-looking information and statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. The Company believes that the assumptions and expectations reflected in such forward-looking statements and information are reasonable. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company does not undertake to update any forward-looking information or statements, except in accordance with applicable securities laws.

About Mamba Exploration

Mamba Exploration is a Western Australian focused exploration Company, with four 100% owned geographically diverse projects which provide year-round access and an agreement to acquire a 70% interest in the Meeka East Gold Project in the Murchison Goldfield. The projects are highly prospective mineral exploration assets in the Ashburton / Gascoyne, Kimberley, Murchison and Great Southern regions of Western Australia. The projects in the Ashburton / Gascoyne, Murchison and Great Southern are prospective for gold and REE whilst those in the Kimberley are prospective for base metals such as copper, nickel, PGEs and manganese and REEs.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 8 of 19

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Annexure B – Soil Sample Results

Table 1: Summary of soil sampling results from the Mulga Bill Project, showing gold assay values for <80 mesh soil samples.

Sample Number	MGA94_51	MGA94_51	AHD RL	Sample Date	AR10 MS Au (ppb)	Field Notes
	Easting	Northing
14001	657630	7047430	504	7/05/2025	1.2	pisolite minor float
14002	657674	7047430	504	7/05/2025	0.8	pisolite minor float
14003	657718	7047430	504	7/05/2025	0.5	pisolite minor float
14004	657762	7047430	504	7/05/2025	0.6	pisolite minor float
14005	657806	7047430	504	7/05/2025	1.3	pisolite minor float
14006	657850	7047430	504	7/05/2025	0.8	pisolite minor float
14007	657894	7047430	504	7/05/2025	1.4	pisolite minor float
14008	657938	7047430	504	7/05/2025	2.3	pisolite minor float
14009	657982	7047430	504	7/05/2025	1.1	pisolite minor float
14010	658026	7047430	504	7/05/2025	1.2	pisolite minor float
14011	658070	7047430	504	7/05/2025	1.6	pisolite minor float
14012	658070	7047430	505	7/05/2025	1.0	Next point in creek-duplicate
14013	657700	7047675	505	7/05/2025	1.5	pisolite minor float
14014	657744	7047675	505	7/05/2025	0.6	pisolite minor float
14015	657788	7047675	505	7/05/2025	1.0	pisolite minor float
14016	657832	7047675	505	7/05/2025	0.5	pisolite minor float trees
14017	657876	7047675	505	7/05/2025	0.7	pisolite minor float trees
14018	657920	7047675	505	7/05/2025	1.2	pisolite minor float trees
14019	657964	7047675	505	7/05/2025	1.1	pisolite minor float
14020	658008	7047675	505	7/05/2025	1.1	pisolite minor float
14021	658052	7047675	505	7/05/2025	1.1	pisolite minor float
14022	657632	7047950	506	7/05/2025	1.6	pisolite minor float
14023	657679	7047950	506	7/05/2025	1.0	pisolite minor float
14024	657726	7047950	506	7/05/2025	1.6	pisolite minor float
14025	657773	7047950	506	7/05/2025	1.1	pisolite minor float
14026	657820	7047950	506	7/05/2025	0.9	pisolite minor float
14027	657867	7047950	506	7/05/2025	0.9	pisolite minor float
14028	657914	7047950	506	7/05/2025	0.8	pisolite minor float
14029	657961	7047950	506	7/05/2025	0.9	pisolite minor float
14030	658008	7047950	506	7/05/2025	1.3	pisolite minor float
14031	658055	7047950	506	7/05/2025	0.6	pisolite minor float
14032	658102	7047950	506	7/05/2025	1.2	pisolite minor float
14033	657800	7048550	506	7/05/2025	0.7	pisolite minor float
14034	657850	7048550	506	7/05/2025	0.3	pisolite minor float

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 9 of 19

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14035	657900	7048550	506	7/05/2025	0.6	pisolite minor float
14036	657950	7048550	506	7/05/2025	1.1	pisolite minor float
14037	658000	7048550	506	7/05/2025	2.0	wash minor rubble
14038	658050	7048550	506	7/05/2025	1.3	wash minor rubble
14039	658100	7048550	506	7/05/2025	2.1	wash minor rubble
14040	658150	7048550	506	7/05/2025	1.1	wash minor rubble
14041	658200	7048550	506	7/05/2025	1.6	pisolite minor float
14042	658250	7048550	506	7/05/2025	1.4	pisolite minor float
14043	658300	7048550	506	7/05/2025	4.6	pisolite minor float
14044	658350	7048550	506	7/05/2025	1.9	pisolite minor float
14045	657800	7049750	508	7/05/2025	0.9	pisolite minor float
14046	657850	7049750	508	7/05/2025	2.6	pisolite minor float
14047	657900	7049750	508	7/05/2025	1.5	pisolite minor float scrub
14048	657950	7049750	508	7/05/2025	0.5	pisolite minor float
14049	658000	7049750	508	7/05/2025	0.4	pisolite minor float
14050	658050	7049750	508	7/05/2025	0.2	pisolite minor float
14051	658100	7049750	508	7/05/2025	0.6	pisolite minor float
14052	658150	7049750	508	7/05/2025	1.0	pisolite minor float
14053	658200	7049750	508	7/05/2025	0.7	pisolite minor float
14054	658250	7049750	508	7/05/2025	0.5	pisolite minor float
14055	658300	7049750	508	7/05/2025	0.7	pisolite minor float

Notes:

1. Soil samples are <80 mesh (180 micron) fine fraction unless otherwise stated.

2. Samples were collected at nominal 50 m spacing along survey lines.

3. Gold assays were completed by Intertek using the AR10E MS method with a lower limit of detection of 0.1 ppb Au.

4. Coordinates are reported in GDA94 / MGA Zone 51 and are approximate.

5. Reported gold values are uncut and have not been top-capped.

6. Limited field duplicates, no blanks, and no certified reference materials are reported in this table; laboratory QA/QC procedures were applied by Intertek.

7. Results are preliminary in nature and are intended to demonstrate geochemical trends only.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 10 of 19

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Annexure C – Soil Sample Results

JORC Code 2012 Edition – Table 1 Report

Section 1 Sampling Techniques and Data

The following data is in relation to Soil Sampling Programs in the announcement and the individual surveys are detailed

Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
Sampling techniques	1. Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. 2. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. 3. Aspects of the determination of mineralisation that are Material to the Public Report. 4. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	Drilling has previously been completed on the project by past explorers. No drilling results are included in this announcement and no drilling data is being reported or discussed. A soil Sampling program was undertaken: using< 80 mesh Fine Soils sampling program over the northern 3 tenements. The Fine (-80 mesh) soil samples were taken by removing the surface float rock and topsoil with a shovel then pulverizing the subsoil using a hammer. This allowed the recovery of a sample from nominally 100-150 mm deep Rock outcrops, vegetation and creek beds were excluded to ensure retrospectivity. No sub-sampling was required for the fine soil samples. The sieving process to -80 mesh meant the final sample was already prepared for assay. Field duplicates and laboratory standards were included in the Fine Soils program.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond	Drilling results are not being reported, no drilling data is included within this announcement.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 11 of 19

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Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
	tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Drilling has been completed historically on the project by previous operators; however, no drilling data or drilling results are being reported in this announcement
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. The total length and percentage of the relevant intersections logged.	Historical drilling exists on the project; however, no drilling logs or drilling results are being reported as part of this acquisition announcement. For geochemical soil samples; regolith type, topographic slope, vegetation and moisture were recorded. The area was dry flat hardpan with minor creeks
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique.	No drilling data is being reported. This section relates solely to soil sampling. The samples were gathered using fine soil sampling techniques with no sub samples. The sample sieving gave samples that do not need sample prep due to the -80 mesh (177 microns) size for final sample for assay.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 12 of 19

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Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	Field duplicates and laboratory standards were taken in the Fine Soils.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Intertek insert their own QAQC samples, including resplits, checks, blanks and standards. No QAQC issues were reported. The soil sampling used the 0.1ppb Au Assay technique (AR10 10E MS). The <80 mesh soils used 1 in 20 duplicates and routine laboratory standards
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data	Drilling has been completed historically; however, no drilling data is being reported. Verification commentary relates only to soil sampling undertaken by Mamba.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 13 of 19

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Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
	storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Geochemical sample data is logged into excel spreadsheets. No adjustment to assay data has been made.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Sample layout was by TopoGPS and Handheld GPS, accurate to within 5 metres. All locations are GDA94 Zone 51. The soil sample field locations were recorded and plotted for verification
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	No drilling data is being reported. This section relates solely to soil sampling The soil sampling programs were conducted on a 250 - 1,200m x 50m spaced grid and orientated East West. This wide spaced survey was considered a 1st phase soil program. . The grids were sited to look for north- south structurally controlled mineralization trends from neighbouring resources, it is not sufficient to establish the degree of geological and grade continuity appropriate for the estimation of a Mineral Resource or Ore Reserve.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this	Historical drilling is acknowledged but not reported. Orientation commentary applies only to soil sampling lines. Samples were taken perpendicular to stratigraphy The samples were sited to look for north- south structurally controlled mineralization

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 14 of 19

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Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
	should be assessed and reported if material.	under tertiary or older cemented cover or hardpan.
Sample security	The measures taken to ensure sample security.	All samples logged and numbered on site and checked as collected, logged, and then transported and submitted to the Laboratory in sealed bags. Sample integrity was checked prior to dispatch and on receipt. Historical drilling data is not reported. Sample security commentary applies specifically to soil sampling.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Historical drilling is acknowledged but is not being reported. No audits of the soil sampling program have been conducted other than internal company reviews.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 15 of 19

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Section 2 - Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	Mamba has entered into a binding conditional agreement for a 70% ownership of the Meeka East Gold Project and Meekatharra Minerals East Pty Ltd along with its subsidiaries, with 30% ownership retained by Meekatharra Minerals Pty Ltd. At successful completion The Meeka East Gold Project, 12km SE of Meekatharra will be 100% owned, by Meekatharra Minerals East Pty Ltd, apart from The CU2 WA Pty Ltd (80%) Taruga Minerals Limited (20%) Sherwood Joint Venture E51/1832. The project has 39 Mining Tenements (7 Els and 32 PLs) and covers some 152 km2 Engagement regarding the establishment of heritage agreements has commenced.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The ground being acquired in this acquisition has been explored by numerous companies since mid-1960s. The most recent work has been by Peak Minerals Limited (2021-2024) who explored for magmatic sulphide base metals. The exploration included chip sampling, mapping, gravity survey and drilling. No significant base metal sulphides were found. Peak were preceded by Silver Swan Group Ltd (2008-2012) and Mithril Resources Ltd (2014-2015) and JV partner Taruga Minerals. A majority of the earlier historic

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 16 of 19

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Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
		work completed has been for gold with limited work completed for base metals
Geology	Deposit type, geological setting and style of mineralisation.	The Meeka East Gold project is located in the Yaloginda Formation within the Norrie Group of the Youanmi Terrain. The mineralisation is stratabound hydrothermal gold within sediments and controlled by structures.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Drilling results are not being reported, no drilling data is included within this announcement.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and	Drilling results are not being reported, no drilling data is included within this announcement. No data aggregation was done for the report and metal equivalents never used.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 17 of 19

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Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
	longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	Drilling results are not being reported, no drilling data is included within this announcement.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Drilling results are not being reported, no drilling data is included within this announcement.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	The results of the <80 mesh soil sampling and the host stratigraphy and controlling structure are shown in figure 2.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 18 of 19

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Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	As no drilling results are included, balanced reporting of drillholes is not applicable. All soil sample results have been reported in the diagrams within the report. The lack of historic drilling and soil sampling is demonstrated in Figure 2.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step- out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	The completion of the 0.1ppb Au soil sampling will commence in the new year to infill and resample the total strike length of target area.

Mamba Exploration Limited ABN 75 644 571 826 Suite 1, 295 Rokeby Road SUBIACO WA 6008 +61 8 6555 2950[|] info@mambaexploration.com.au[|] www.mambaexploration.com.au[|] Page 19 of 19