NEOMETALS LTD — Capital/Financing Update 2025

Oct 7, 2025

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Announcement
08 October 2025
ASX: NMT | OTCQX: NMTAY
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Exploration Update - Drilling Commences at Barrambie Ranges

Highlights

• Exploration drilling commences at the Barrambie Ranges gold trend at Neometals Ltd 100% owned Barrambie Gold Project.

• The Barrambie Ranges trend hosts the historic Golden Treasure mine which was the most prolific of the former mines within the Barrambie Greenstone Belt, producing 15,326 ounces at 29.4g/t Au between 1905 and 1911[1] and has not been drill tested for nearly 40 years.

• A total of 8,300 metres reverse circulation drilling (“RC”) is planned for the December Quarter 2025 at the former Golden Treasure gold mine, the broader Barrambie Ranges mineralised trend, the historic Mystery gold mine, and the Ironclad deposit.

Neometals Ltd (ASX: NMT) (“ Neometals ” or “ the Company ”), is pleased to provide an exploration update on the Company’s 100% owned Barrambie Gold Project ( “the Barrambie Project” ), in Western Australia.

Drilling has commenced at the Barrambie Ranges gold trend, the first programme in a planned 8,300 metre RC campaign which will also target extensions at the historic Mystery mine, and extension and infill drilling at the Ironclad deposit (13,000oz @ 1.6g/t Au Inferred Mineral Resource Estimate (“ MRE ”)[2] ).

The first discovery of gold in the Barrambie Greenstone Belt ( “BGSB” ) occurred at the site of the historic Golden Treasure gold mine in 1905 during the construction of the Rabbit Proof Fence. This discovery ultimately led to the opening of four gold producing centres in the BGSB, with the Golden Treasure mine being the largest and highest-grade producer (29.4g/t).[1,3]

Despite this outstanding exploration opportunity, drilling by previous explorers in the vicinity of the historic mine remains limited. Similarly, the host shear-system, which can be traced along a 4km trend at the Barrambie Ranges, has been subject to only minimal drill-testing, with holes being clustered and shallow, generally less than 35m deep[3,4] .

Prior announcements by the Company relating to drilling by previous explorers omitted some material drill assay intercepts from the Barrambie Ranges trend, which are now reported in Appendix 1 to 3 of this announcement and include:

1 For further details see WAMEX report A22837

2 For full details refer to Neometals’ ASX announcement dated 25 June 2025 titled “Barrambie Gold Mineral Resource Estimate”

3 For full details refer to Neometals ASX announcements dated 23 September 2024 titled “Barrambie Gold Exploration Target”

4 For full details refer to Neometals ASX announcements dated 5 February 2025 titled “Barrambie - Maiden Gold Drilling Commences”

ASX: NMT | OTCQX: NMTAY neometals.com.au

Neometals Ltd ACN 099 116 631 info@neometals.com.au

T +61 8 9322 1182 F +61 8 9321 0556 Level 1, 1292 Hay Street, West Perth WA 6005 Locked Bag 8, West Perth WA 6872

1/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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• SLRB001 – 12.0m at 1.61g/t Au from 58.0m • SLRB022 – 8.0m at 1.31g/t Au from 48.0m

• BERB100 – 24.0m at 0.62g/t Au from 19.0m • SLRB027 – 13.0m at 0.70g/t Au from 18.0m

• SLRB026 – 30.0m at 0.47g/t Au from 16.0m • B213 – 8.0m at 0.86g/t Au from 11.0m

CAUTIONARY STATEMENT

The Competent Person cautions that this exploration data is historical in nature, has not or may not have been reported in accordance with the JORC Code or its precedents and has not been independently verified. The Competent Person considers these results to be indicative only and not definitive measures of the presence and tenor of mineralisation.

Aims of the December quarter drill campaign includes:

• Barrambie Ranges & Golden Treasure gold mine (planned 3,200m RC);

• Test extensions of high-grade mineralisation below the historic Golden Treasure-Barrambie North workings;

• Test halo mineralisation and parallel structures in footwall and hanging wall zones adjacent to historic workings;

• Follow-up shallow, historic drill intersections, including 4m at 6.07g/t (hole B194)[4] , and 5m at 4.27g/t (hole B207)[4] along a 600m strike of the Barrambie Ranges mineralised trend; and,

• Test previously undrilled historic workings on a parallel structure within the Barrambie Ranges trend.

• Ironclad Deposit (planned 3,400m RC):

• Target depth and strike extensions to potentially expand the current Inferred MRE[2] ; and,

• Infill drilling of the current Inferred MRE to increase confidence and upgrade the JORC classification.

• Mystery gold mine trend (planned 1,700m RC):

• Test depth extensions and a 500m strike of the (approx.) 1km shear system hosting the Mystery workings. The Sugarstone mining centre, which includes the Mystery workings, produced 3.88 k oz at 22.9g/t[3] and results of recent drilling by Neometals (10.2m at 2.72g/t gold, including 1.45m at 8.97g/t, 25MYDD001)[5] and by previous explorers (14m at 12.58g/t, SG131 and 19m at 0.78g/t, SG133)[4] supports the case for further drilling.

Next Steps

The programme along the Barrambie Ranges trend and at the historic Golden Treasure and Mystery gold mines are regarded as first-pass testing with results to inform follow-up exploration of the broader mineralised trends. Following the Ironclad drilling, the intended next steps include an update of the Inferred MRE and mine plan, expected in the March Quarter 2026.

Neometals Managing Director, Chris Reed, says:

“ We are excited to resume exploration drilling, in particular at Barrambie Ranges, the host of the high-grade Golden Treasure mine, a historic site where the Barrambie gold story originated. Growing and upgrading the Ironclad deposit is also a key step in achieving first commercial gold production at Barrambie.”

5 For full details refer to Neometals ASX announcements dated 5 August 2025, titled “Barrambie High-Grade Diamond Drill Intercepts”

ASX: NMT | OTCQX: NMTAY neometals.com.au

2/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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About Barrambie

The Barrambie Project hosts one of the world’s highest-grade titanium deposits and is also highly prospective for gold mineralisation. Minimal gold exploration has occurred since the 1990s within Neometals’ 505 square kilometre tenure, which contains approximately 40km strike of the BGSB. The potential for high-tenor gold mineralisation within the Barrambie Project is demonstrated by several historic mines within the BGSB (with a combined average production grade of 24.8g/t)[3] and evidenced in an extensive exploration dataset.

Based on this extensive exploration dataset, in 2024 the Company announced an Exploration Target between 8Mt at an average grade of 1.3g/t Au and 10.5Mt at an average grade of 2.3g/t Au, for an implied 335k to 775k ounces[3] , outlining the potential of the Project to host multiple gold occurrences.

Neometals has recently resumed gold exploration for first time in over 20 years, with a view to advance and grow existing and new targets. Initial efforts have focussed on Ironclad, the subject of a 1988 Notice of Intent lodged by a previous explorer (Samson Exploration NL), which contemplated multiple mines feeding a central processing facility at Barrambie[6] . The Company’s targeted mapping and drilling in the first half of 2025 has culminated in an initial 13,000 Au ounce Inferred Mineral Resource Estimate[2] for the Ironclad deposit and the Company is currently working to grow and advance the deposit towards production.

CAUTIONARY STATEMENT- EXPLORATION TARGET

The Competent Person cautions that the potential quantity and grade of the Exploration Target are conceptual in nature and insufficient gold exploration has been undertaken to support estimation of a gold Mineral Resource for the Barrambie Project (notwithstanding the initial Ironclad Inferred MRE[2] ) and that there is no certainty that future exploration will result in the estimation of a Mineral Resource.

The Competent Person further cautions that exploration data relied on for this Exploration Target is based on activity undertaken by previous historical operators and have not or may not have been previously reported under the JORC Code or any of its precedents and the Competent Person considers that these data are indicative and not absolute measures of the presence of gold mineralisation.

6 For further information see WAMEX report A30688.

ASX: NMT | OTCQX: NMTAY neometals.com.au

3/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Figure 1 - The Barrambie Project tenure, simplified geology, historic production centres[3] , significant intercepts[3,4, ] and Inferred MRE[2] . Note: Current drilling campaign is underway at Barrambie Ranges, Ironclad and Mystery.

ASX: NMT | OTCQX: NMTAY neometals.com.au

4/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Figure 2 - Simplified Geology of the Barrambie Ranges Gold Trend, showing historic significant drill intercepts[3,4, ] and location of historic Golden Treasure mine and reported production[1,3] .

ASX: NMT | OTCQX: NMTAY neometals.com.au

5/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Figure 3 - Longsection view (looking west) along a 1.6-kilometre extent of the Barrambie Ranges Gold Trend, showing historic Golden Treasure mine[1,3] , historic significant drill intercepts[3,4,] and location of planned drilling.

ASX: NMT | OTCQX: NMTAY neometals.com.au

6/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Figure 4 - Simplified Geology of the Sugarstone area showing historic significant drill intercepts[3,4] in the Mystery-Ironclad corridor, the Ironclad Inferred MRE[2] and location of planned drilling.

ASX: NMT | OTCQX: NMTAY neometals.com.au

7/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Authorised on behalf of Neometals by Christopher Reed, Managing Director.

ENDS

For further information, visit www.neometals.com.au or contact:

Christopher Reed Lucas Robinson Managing Director/CEO Managing Director Neometals Ltd Corporate Storytime T +61 8 9322 1182 T +61 408 228 889 E info@neometals.com.au E: lucas@corporatestorytime.com

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

COMPLIANCE STATEMENT

The Competent Person cautions that certain Exploration Results contained within this release have been extracted from historical DMIRS WAMEX annual reports and internal company reports prepared by previous historical operators. Further exploration and evaluation may affect confidence in these results under JORC 2012 standards. Nothing has come to the attention of Neometals or its Competent Person that cause them to question the accuracy or reliability of the reported drill results and work.

The Company has undertaken desktop evaluation of the work completed. However, it has not comprehensively validated the results and therefore these results are to be treated with appropriate caution.

To comply with ASX Listing Rule 5.7 and the associated FAQ 36 (Announcements of material acquisitions – former owners’ Exploration Results) details of historic exploration programmes by companies prior to Neometals for the additional historic drill data not previously reported in Neometals’ ASX announcement of 23 September 2024 titled “Barrambie Gold Exploration Target” and/or 5 February 2025 titled “Barrambie - Maiden Gold Drilling Commences” are summarised in Appendix 3 - JORC Table 1 below. WAMEX reports referenced in these announcements can be accessed online at https://geoview.dmp.wa.gov.au/GeoView, using the unique A-number for each report. Each WAMEX report includes a technical explanation of the work completed and results achieved.

ASX: NMT | OTCQX: NMTAY neometals.com.au

8/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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COMPETENT PERSONS STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Mr Jeremy Peters FAusIMM CP (Min, Geo). Mr Peters is a Director of Burnt Shirt Pty Ltd, a geological and mining engineering consultancy, and has sufficient experience relevant to the reporting of Exploration Results in Western Australian Archaean orogenic gold mineralisation to qualify as a Competent Person as defined in the December 2012 Edition of the “Australasian Code for Reporting of Exploration Results”. Data compiled from historic internal reports by the Neometals Exploration Team has been reviewed by Mr Peters, who has consented to the inclusion of the matters in this report based on this information in the form and context in which it appears.

Information relating to Exploration Results, Exploration Targets and Mineral Resources has been presented in the following previous market announcements by Neometals. Mr Peters was the Competent Person for those market announcements. Copies of those announcements are available on the Company's website at www.neometals.com.au/en/investors or ASX's website at www.asx.com.au.

(i) 23 September 2024, titled “Barrambie Gold Exploration Target”; (ii) 5 February 2025, titled “Maiden Gold Drilling Programme Commences at Barrambie Project”; (iii) 20 March 2025, titled “Exploration Update – Barrambie Gold Assays”; (iv) 25 June 2025, titled “Barrambie Gold Mineral Resource Estimate” (v) 5 August 2025, titled “Barrambie High-Grade Diamond Drill Intercepts”, (vi) 17 September 2025 “Barrambie Gold Historic Drill Assays”.

About Neometals Ltd

Neometals’ purpose is to deliver stakeholder value by enabling the sustainable production of critical and valuable materials essential for a cleaner future. The Company is commercialising a portfolio of low-cost sustainable processing solutions for critical materials in parallel with the exploration and development of mining operations at its Barrambie Gold Project.

The Company’s upstream mineral asset has two distinct styles of mineralisation containing precious metals and industrial minerals:

• Barrambie Gold (100% NMT) – historic high-grade gold producing area in the prolific Murchison Gold Belt, with very limited modern exploration. Maiden gold exploration target highlighted potential for camp-scale brownfields gold discoveries. Active exploration program being undertaken in 2025. Barrambie is proximal to a number of third-party processing facilities and transport infrastructure.

The Company’s portfolio of processing solutions under development comprise:

• Lithium Chemicals (70% NMT) – patented ELi Process™ co-owned 30% by Mineral Resources Ltd, aiming to produce battery quality lithium hydroxide and carbonate from brine and/or hard-rock feedstocks at lowest quartile operating costs. Successfully completed Pilot scale test work and planning industrial validation with partners including Rio Tinto and commercialisation through a technology licensing business model.

• Vanadium Recovery (100% NMT) – patent pending hydrometallurgical process, aiming to produce highpurity vanadium pentoxide from steelmaking byproduct (slag) at lowest-quartile operating cost and carbon footprint, under a technology licensing business model. Project financing process for first commercial plant in progress (86.1% NMT).

• Barrambie Titanium and Vanadium (100% NMT) – the world’s second highest grade hard-rock titanium deposit is currently in a divestment process.

ASX: NMT | OTCQX: NMTAY neometals.com.au

9/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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APPENDIX 1 - Collar Details of Drill Holes with Significant Gold Intercepts

Includes drill holes described in, but omitted from previous Neometals ASX announcements of 23 September 2024 titled “Barrambie Gold Exploration Target” and 5 February 2025 titled “Barrambie - Maiden Gold Drilling Commences.

PROSPECT	WAMEX REPORT	HOLE TYPE	Hole ID	Easting	Northing	RL	Dip (Deg)	Azimuth (Deg)	Depth (m)
BARRAMBIE SHEAR	A23650	RAB	B028	710193	6963345	531	-60	260	20
BARRAMBIE SHEAR	A23650	RAB	B036	710196	6963146	531	-60	260	20
BARRAMBIE SOUTH	A23650	RAB	B060	710187	6962534	525	-60	80	20
BARRAMBIE SOUTH	A23650	RAB	B076	710205	6962440	524	-60	80	20
BARRAMBIE SOUTH	A23650	RAB	B088	710327	6962353	525	-60	80	20
BARRAMBIE SOUTH	A23650	RAB	B101	710429	6962270	526	-60	80	20
BARRAMBIE SOUTH	A23650	RAB	B104	710406	6962266	526	-60	80	20
BARRAMBIE SOUTH	A23650	RAB	B107	710382	6962262	526	-60	80	20
BARRAMBIE SHEAR	A23650	RC	B195	710087	6964869	541	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B196	710098	6964851	541	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B198	710106	6964812	542	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B199	710101	6964790	542	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B200	710113	6964773	542	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B201	710110	6964751	542	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B202	710120	6964733	542	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B203	710115	6964713	543	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B204	710124	6964692	543	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B205	710120	6964673	543	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B206	710129	6964654	544	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B207	710124	6964634	544	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B208	710137	6964616	545	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B210	710146	6964577	545	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B211	710139	6964556	546	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B212	710148	6964537	546	-60	259	33
BARRAMBIE SHEAR	A23650	RC	B213	710142	6964516	547	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B214	710153	6964498	547	-60	259	33
BARRAMBIE SHEAR	A23650	RC	B215	710146	6964476	547	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B216	710154	6964459	548	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B217	710150	6964433	549	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B218	710158	6964415	549	-60	259	30
BARRAMBIE SHEAR	A23650	RC	B219	710151	6964394	550	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B220	710173	6964212	551	-60	259	21
BARRAMBIE SHEAR	A23650	RC	B222	710174	6964173	551	-60	259	21
BARRAMBIE	A22837	RC	B223	710183	6964155	551	-60	259	30

ASX: NMT | OTCQX: NMTAY

10/19

neometals.com.au

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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PROSPECT	WAMEX REPORT	HOLE TYPE	Hole ID	Easting	Northing	RL	Dip (Deg)	Azimuth (Deg)	Depth (m)
BARRAMBIE	A22837	RC	B226	710186	6964096	551	-60	259	21
BARRAMBIE	A22837	RC	B227	710198	6964077	552	-60	259	30
BARRAMBIE	A22837	RC	B228	710194	6964056	552	-60	259	21
BARRAMBIE	A22837	RC	B229	710204	6964037	552	-60	259	30
BARRAMBIE	A22837	RC	B230	710198	6964015	552	-60	259	21
BARRAMBIE	A22837	RC_DDT	B231	710275	6963922	554	-48	269	179.3
BARRAMBIE	A22837	RC_DDT	B232	710265	6963901	554	-51	260	120
BARRAMBIE	A22837	RC_DDT	B233	710272	6963881	555	-50	261	97.7
DAWN OF HOPE	A23650	RC	B236	710212	6963572	536	-90	0	15
DAWN OF HOPE	A23650	RC	B238	710222	6963430	534	-90	0	15
DAWN OF HOPE	A23650	RC	B240	710220	6963349	532	-90	0	20
BARRAMBIE MINE EAST	A49171	RAB	BERB006	710687	6964253	545	-60	270	63
BARRAMBIE MINE EAST	A49171	RAB	BERB014	710371	6964252	548	-60	270	104
BARRAMBIE MINE EAST	A49171	RAB	BERB049	710545	6964852	540	-60	270	79
SILVER LINING	A49171	RAB	BERB096	709600	6965652	532	-60	90	71
SILVER LINING	A49171	RAB	BERB097	709640	6965652	532	-60	90	71
SILVER LINING	A49171	RAB	BERB099	709714	6965652	532	-60	90	78
SILVER LINING	A49171	RAB	BERB100	709681	6965551	532	-60	90	60
SILVER LINING	A49171	RAB	BERB101	709703	6965552	532	-60	90	63
SILVER LINING	A49171	RAB	BERB102	709726	6965552	532	-60	90	69
SILVER LINING	A52165	RAB	SLRB001	709751	6965652	533	-60	90	83
SILVER LINING	A52165	RAB	SLRB003	709651	6965552	535	-60	90	63
SILVER LINING	A52165	RAB	SLRB005	709591	6965552	536	-60	90	76
SILVER LINING	A52165	RAB	SLRB011	709616	6965352	535	-60	90	54
SILVER LINING	A52165	RAB	SLRB012	709646	6965352	535	-60	90	53
SILVER LINING	A52165	RAB	SLRB013	709676	6965352	535	-60	90	64
SILVER LINING	A52165	RAB	SLRB016	709746	6965352	535	-60	90	53
SILVER LINING	A52165	RAB	SLRB018	709786	6965352	535	-60	90	23
SILVER LINING	A52165	RAB	SLRB022	709706	6965602	534	-60	90	63
SILVER LINING	A52165	RAB	SLRB023	709736	6965602	534	-60	90	77
SILVER LINING	A52165	RAB	SLRB026	709661	6965502	535	-60	90	54
SILVER LINING	A52165	RAB	SLRB027	709691	6965502	534	-60	90	55
SILVER LINING	A52165	RAB	SLRB028	709721	6965502	534	-60	90	59
SILVER LINING	A52165	RAB	SLRB030	709641	6965402	533	-60	90	26
SILVER LINING	A52165	RAB	SLRB031	709656	6965402	533	-60	90	74
SILVER LINING	A52165	RAB	SLRB033	709726	6965402	535	-60	90	8
SILVER LINING	A52165	RC	SLRC001	709726	6965446	533	-60	90	87
SILVER LINING	A52165	RC	SLRC002	709615	6965450	551	-60	90	66

ASX: NMT | OTCQX: NMTAY neometals.com.au

11/19

Announcement : 8 October 2025

Exploration Update - Drilling Commences at Barrambie Ranges

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APPENDIX 2 - Historic Drill Hole Significant Intercepts

Minimum reporting criteria 1.0m at 0.2g/t Au, maximum 3m internal dilution. No top cut applied.

Hole ID	Depth From (m)	Depth To (m)	Interval (m)	Au (ppm)	Grade Width
B028	0	2	2	0.28	0.56
B036	18	20	2	0.24	0.48
B060	18	20	2	0.33	0.66
B076	10	14	4	0.26	1.04
B088	16	18	2	0.28	0.56
B101	10	14	4	0.59	2.34
B104	16	18	2	0.24	0.48
B107	16	18	2	0.55	1.10
B195	14	16	2	1.77	3.54
B196	25	28	3	0.94	2.81
		Including	2	1.24	2.48
B198	15	18	3	0.16	0.48
B199	12	14	2	1.28	2.55
B200	11	12	1	0.20	0.20
	21	22	1	0.25	0.25
B200	26	30	4	0.16	0.63
B201	12	13	1	0.20	0.20
B202	25	27	2	0.65	1.30
B203	11	13	2	1.33	2.65
	19	21	2	0.28	0.55
B204	12	19	7	0.21	1.45
	23	24	1	0.60	0.60
B205	14	19	5	0.24	1.20
B206	5	10	5	0.17	0.83
	27	28	1	0.30	0.30
B207	3	4	1	0.36	0.36
B208	19	22	3	0.47	1.42
	26	27	1	0.28	0.28
B210	18	22	4	0.18	0.72
	29	30	1	1.24	1.24
B211	0	6	6	0.27	1.60
	12	15	3	1.88	5.63
		Including	2	2.63	5.26
B212	27	28	1	0.74	0.74

ASX: NMT | OTCQX: NMTAY neometals.com.au

12/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

==> picture [48 x 41] intentionally omitted <==

Hole ID	Depth From (m)	Depth To (m)	Interval (m)	Au (ppm)	Grade Width
B213	11	19	8	0.86	6.90
		including	4	1.51	6.04
B214	10	11	1	0.23	0.23
	28	30	2	1.27	2.53
B215	13	15	2	0.99	1.97
B216	21	23	2	1.45	2.89
B217	8	11	3	0.98	2.94
B218	20	21	1	0.37	0.37
B219	20	21	1	0.28	0.28
B220	1	10	9	0.33	2.95
B222	4	5	1	0.25	0.25
B223	23	28	5	1.07	5.33
		including	3	1.69	5.07
B226	12	13	1	0.35	0.35
B227	15	16	1	0.28	0.28
	20	28	8	0.22	1.73
		Including	3	0.36	1.08
B228	12	16	4	0.18	0.73
B229	8	9	1	0.23	0.23
	25	26	1	0.26	0.26
B230	6	7	1	0.23	0.23
	11	17	6	0.18	1.06
B231	31	32	1	0.23	0.23
B232	91.62	92.26	0.64	1.65	1.05
		including	0.04	22.05	0.88
B233	95.3	95.4	0.1	1.00	0.10
B236	3	9	6	0.72	4.33
		Including	4	1	4.00
B238	5	9	4	0.83	3.31
		Including	3	1.03	3.09
B240	17	19	2	0.79	1.59
BERB006	12	13	1	0.28	0.28
BERB014	100	101	1	0.86	0.86
BERB049	71	74	3	0.47	1.40
BERB096	45	49	4	0.39	1.56
	61	62	1	0.29	0.29
	66	67	1	0.29	0.29

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Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Hole ID	Depth From (m)	Depth To (m)	Interval (m)	Au (ppm)	Grade Width
BERB097	64	68	4	0.22	0.87
BERB099	61	62	1	0.80	0.80
BERB100	19	43	24	0.62	14.90
BERB101	18	21	3	0.28	0.84
	39	46	7	0.41	2.85
	57	61	4	0.54	2.17
BERB102	32	35	3	0.79	2.36
	42	43	1	1.08	1.08
BR011	50	56	6	0.28	1.68
BR014	62	65	3	0.27	0.80
BR022	20	24	4	0.40	1.60
BR028	14	28	14	0.56	7.82
BR029	36	38	2	0.44	0.88
BR030	40	44	4	0.22	0.86
BR066	20	22	2	0.28	0.56
BR070	18	28	10	0.65	6.48
BR073	26	32	6	0.28	1.66
BR078	8	10	2	0.33	0.66
SLRB001	50	51	1	0.38	0.38
	58	70	12	1.61	19.33
SLRB003	48	50	2	0.44	0.87
	58	60	2	0.53	1.06
SLRB005	73	74	1	0.89	0.89
SLRB011	40	41	1	0.41	0.41
SLRB012	48	50	2	0.31	0.62
SLRB013	4	5	1	0.55	0.55
	11	12	1	0.21	0.21
SLRB016	3	4	1	0.31	0.31
SLRB018	2	4	2	0.32	0.63
SLRB022	48	56	8	1.31	10.48
SLRB023	40	48	8	0.28	2.20
SLRB026	16	46	30	0.47	14.03
SLRB026	51	52	1	0.21	0.21
SLRB027	6	12	6	1.00	5.98
	18	31	13	0.70	9.08
	44	46	2	0.25	0.50
	54	55	1	0.35	0.35

ASX: NMT | OTCQX: NMTAY neometals.com.au

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Announcement : 8 October 2025

Exploration Update - Drilling Commences at Barrambie Ranges

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Hole ID	Depth From (m)	Depth To (m)	Interval (m)	Au (ppm)	Grade Width
SLRB028	6	9	3	0.62	1.86
	36	37	1	0.37	0.37
SLRB030	16	23	7	0.24	1.67
SLRB031	44	53	9	0.28	2.53
SLRB033	3	12	9	0.67	5.99
SLRC001	4	6	2	0.50	1.00
	34	36	2	0.73	1.46
	48	50	2	1.00	2.00
	64	66	2	0.41	0.82
	76	86	10	0.18	1.75
SLRC002	30	34	4	0.21	0.82

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15/19

Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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APPENDIX 3 - JORC Table 1

Section 1 - Sampling Techniques, and Data

Details regarding historic exploration data being reported have been sourced from various WAMEX report and discussed in full in previous Neometals’ ASX announcements of 23 September 2024 titled “Barrambie Gold Exploration Target” and 5 February 2025 titled “Barrambie - Maiden Gold Drilling Commences”. Information below is referenced to the source WAMEX reports:

• reference marked ( 1 ) in the below tables relate specifically to A23650 & 22837 submitted by Samson Exploration NL 1987, and

• reference marked ( 2) in the below tables relate specifically to A49171& A52165 submitted by Acclaim Exploration NL 1996 & 1997.

(Criteria in this section apply to all succeeding sections).

Criteria	Commentary
Sampling techniques	1. Sampling techniques include chip sub-sampling of reverse circulation (RC) drilling. 2. Sampling techniques include chip sub-sampling of RC drilling and rotary air blast (RAB) drilling. The Competent Person considers that historic sampling was appropriate for this style of exploration and consistent with common industry practise at the time.
Drilling techniques	1. Historic drilling includes various campaigns of RAB, RC and diamond drilling. rig details were not reported. 2. Historic drilling includes various campaigns of RAB and RC drilling. RAB drilling was completed by Orbit Drilling using a KL150 drilling rig with 250psi/650cfm capacity and Lee Drilling using a Gemco H13R drilling rig with 200psi/550cfm capacity. Holes were drilled at -60° to refusal (orientations varied with area). RC drill rig details were not reported. The Competent Person considers that drilling was undertaken in accordance with good practice at the time and has no reason to question the results of that drilling other than to apply caution commensurate with historical data.
Drill sample recovery	1 & 2. Historic reports do not provided information regarding sample recovery. The Competent Person does not consider that this will have a material effect on the interpretation of preliminary gold exploration but suggests caution when using this information in future estimation of Mineral Resources and that the lack of sample recovery data be considered in the JORC classification assigned.
Logging	1. Handwritten drill logs included hole ID, collar co-ordinates, sample number, end of hole depth and geologically logged on metre intervals. Geological logs were generally in summary form in both the WAMEX reports and drafted onto some cross-sections included in the additional data being reported. 2. A representative selection of RAB chips were collected in sieves and washed, then logged using a 1OX hand-lens. Logging results were noted onto a lithological log, which recorded other details such as collar information, water depth, sample quality, drilling time and laboratory details.

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Announcement : 8 October 2025 Exploration Update - Drilling Commences at Barrambie Ranges

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Criteria	Commentary
Sub-sampling techniques and sample preparation	1. Samples were collected at 1m intervals by spearing. Details regarding sample preparation at the assay lab are not reported. Samples were dispatched to Minlab of Perth for gold determination by aqua regia, with a detection limit of 0.05ppm. 2. Samples were laid out in 1m piles next to the hole with a pin marker placed in the first metre with the hole number marked on it. Samples were collected using a measured aluminium scoop as four metre composites in calico bags with an average sample weight of about 2.4kg. The scoop allowed an equal amount (approx 600g) of sample to be taken from each pile. Samples were then packed in labelled polywoven sacks and delivered to Key Transport Meekatharra for transport to Perth. The four metre composite samples were sent to Genalysis Perth for analysis. The 2kg samples were dried, subjected to a single stage mix and grind (SSMG) in an LMS disc mill. Digestion was by the Genalysis B-type digest, a wet chemical Au and multi-element digest and analysed for Au (0.01ppm), As (5ppm), Cu (1 ppm), Pb (1 ppm), and Zn (1 ppm). Anomalous composites (above 0.2g/t) were resampled on a 1m interval (using similar scoop technique) and these samples were dried subject to a bulk SSMG, a B-type digest then analysed for Au (0.01 ppm) only.
Quality of assay data and laboratory tests	1. Approximately 5% of the coarse rejects were submitted to Resource Development Laboratories of Perth for cross-checking by Fire Assay. 2. Check analyses, performed in addition to the regular insertion of appropriate reference standards, include the assaying of 4% of a random selection of duplicate assays for all elements, as well as up to 6% of selected gold repeats. Limited historical QAQC is described in historic reports however all historical samples are assumed by the Competent Person to have been prepared and assayed by then- current industry standard techniques and methods.
Verification of sampling and assaying	1 & 2. Historic protocols for data collection, data entry, verification, and storage are not detailed in the WAMEX reports. With respect to Neometals’ compilation of this historic data, all work was conducted by experienced geologists from publicly available digital data sets or digitised from original reports. Digitised datasets were visually validated in both two and three dimensions. Once validated, complete datasets were compiled and uploaded to the hosted database. The database hosting software includes automated error checking to flag any incorrect codes or numerical data outside of expected ranges.
Location of data points	1 & 2. Historic data was generally sourced from hand-written geological logs and included design hole dips and azimuths and manual compass readings or averages of survey tool measurements. Historical collars are recorded as being located by compass, hip and chain measurement, or unknown methods. The original coordinates were recorded in local grid and converted to MGA94 zone 50 using an automatic transformation where possible. Where unknown local grids were used, historic maps were geo-referenced and collars were digitised. In some cases, minor corrections to collar locations were used based on visibility of historic drill pads on aerial photography and satellite images. Little information has been provided in terms of downhole survey methods. Historical reports indicate a mix of compass, north-seeking gyro, Eastman single shot, and multi shot downhole cameras being used.
Data spacing and distribution	1. Single RC & RC/DD holes at Barrambie Ranges were drilled -60° to the west on 20m spaced lines.

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Announcement : 8 October 2025

Exploration Update - Drilling Commences at Barrambie Ranges

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Criteria	Commentary
	2. RAB holes at Silver Lining were drilled -60° to the east at 30m and 40m centres on 50m spaced E-W lines.
Orientation of data in relation to geological structure	1 & 2. Drilling is oriented either -60° to 260° or 090°,perpendicular to the known mineralisation trends.
Sample security	1 & 2. Sample security measures are generally not referenced specifically in the reports, although descriptions suggest an industry standard approach to chain of custody. The Competent Person has not seen any evidence that historic sample security presents any material problem for this data but that usual caution be applied commensurate with historical data.
Audits or reviews	1 & 2. WAMEX reports do not include information regarding independent audits or reviews of sampling techniques and data. The Competent Person advises that caution be exercised when interpreting historic data.

Section 2 - Reporting of Exploration Results

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

Criteria	Commentary
Mineral tenement and land tenure status	Historic drilling data being reported are located within Neometals’ 100% owned, granted Exploration Licence E57/769-I. No known impediments exist to operate in the area.
Exploration done by other parties	The Company has owned and been exploring Barrambie for titanium, vanadium and iron ore for approximately 25 years. Historic exploration and production was undertaken by a number of parties including Samson Exploration NL and Acclaim Exploration NL as detailed in this announcement and detailed in Neometals’ ASX announcement of 23 September 2024 titled “Barrambie Gold Exploration Target” and 5 February 2025 titled “Barrambie - Maiden Gold Drilling Commences”.

ASX: NMT | OTCQX: NMTAY neometals.com.au

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Announcement : 8 October 2025

Exploration Update - Drilling Commences at Barrambie Ranges

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Criteria	Commentary
Geology	The Barrambie Gold Project is located within the Barrambie Greenstone Belt, a narrow, NNW-SSE trending Archaean greenstone belt in the northern Yilgarn Craton. The lenticular greenstone belt is approximately 60km long and attains a maximum width of approximately 4km and is flanked by banded gneiss and granitoids. The greenstone belt is dominated by the Barrambie Sill, an anorthositic magnetite-bearing gabbro, that intrudes a sequence of metasediments, banded iron formation, metabasalts and metamorphosed felsic volcanics. Mineralisation at Barrambie Ranges is hosted to the east of the gabbro sill at or close to the sheared eastern contact of a meta-arenite unit and meta-siltstone / tuff unit. Mineralisation is spatially related the intersection of converging northwest and north trending structures along a 4kmcorridor as defined by drilling and/or historic workings. Mineralisation at the Silver Lining prospect, located at the north end of the Barrambie Ranges trend is associated with relatively thin gabbro units between packages of sediments and probably represents small intrusive dykes originating from the main Barrambie Sill to the west. Quartz-rich meta-sandstones are fine to medium grained and typically more massive to weakly foliated with a chloritic matrix. Granitised versions contain little or no chlorite, with fine to medium grained quartz phenocrysts set in a fine- grained feldspathic matrix which is usually strongly iron (Ii) stained. Metapelites in the area are typically strongly foliated fine grained chloritic-quartz schists with variable sericite. Strongly weathered versions are purple-brown in colour from the weathered chlorites.
Drill hole Information	Holes were nominally drilled -60° to 090° and -60° to 260° (MGA94 Zone 50). Hole depths vary between 8m to 180m. A list of the drill hole details (including coordinates and orientations) and intersections the subject of this announcement are provided in Appendices 1 and 2.
Data aggregation methods	Intercepts tabulated in Appendix 2 are calculated using 0.2g/t Au lower cut off and a maximum internal dilution of 3m. No top assay cut was applied.
Relationship between mineralisation widths and intercept lengths	Historic data being reported is from holes drilled perpendicular to controlling mineralised structures.
Diagrams	Geological and drill locations are provided in plans included in the announcement to which this table is attached.
Balanced reporting	Details of historic exploration data provided in Appendix 1 and diagrams accompanying this announcement and Appendix 2 lists material significant intercepts. It can be assumed that holes or portions of holes not reported in Appendix 2 are below the minimum grade criteria of 0.2g/t Au.
Other substantive exploration data	See Neometals’ announcements of 23 September 2024, titled “Barrambie Gold Exploration Target”; 5 February 2025, titled “Maiden Gold Drilling Programme Commences at Barrambie Project”; 20 March 2025, titled “Exploration Update – Barrambie Gold Assays”; 25 June 2025, titled “Barrambie Gold Mineral Resource Estimate”, and; 5 August 2025, titled “Barrambie High-Grade Diamond Drill Intercepts”.
Further work	The proposed drilling outlined in the announcement to which this table is attached is designed to follow-up many of the drill holes being reported / described in this table.

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19/19